The European market for Patient monitoring is estimated at $3.68 Billion in 2015 and is expected to reach $8.16 Billion by 2020 at a CAGR of 7.10%.
Patient Monitoring Systems allow for efficient healthcare delivery to patients outside conventional hospital or clinical settings through transmitting patient data in real-time for clinical review thereby aiding in reducing mortality rates and facilitate efficient use of medical resources. These patient monitoring services aid in avoiding emergency overcrowding, manage large number of patients and enhanced maintenance of electronic health records (EHR).
Lately, the market has gained focus because of the government measures to reduce hospital expenditures and reduce hospital stays.
Europe Patient Monitoring Market: Drivers & Restraints
Increase in the chronic disease population, Demand for home-based monitoring devices, Increase in the aging population and the need to contain the average healthcare expenditure are the primary drivers of this market.
Resistance from the healthcare industry professionals towards the adoption of the patient monitoring systems, stringent regulatory framework and lack of proper reimbursement policies and are the primary restraints of this market.
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Europe Patient Monitoring Market: Segmentation
- Neuromonitoring Devices
o Electroencephalograph (EEG)
o Transcranial Doppler (TCD)
o Magnetoencephalograph (MEG)
o Cerebral Oximeters
- o Intracranial Pressure Monitors (ICP)
- Hemodynamic Monitoring Devices
o Blood Pressure Monitors
o Blood Glucose Monitors
o Blood Gas and Electrolyte Analyzers
o Cholesterol Analyzers
- Cardiac Monitoring Devices
- o Electrocardiogram (ECG)
o Event Monitors
o Implantable Loop Recorder (ILR)
- o Cardiac Output Monitoring Devices
- Fetal and neonatal Monitoring Devices
o Ultra Sound Fetal Dopplers
o Internal Fetal Monitors
- Respiratory Monitoring Devices
o Anesthesia Monitors
o Sleep Apnea Monitoring Devices
o Pulse Oximeters
- Multi-Parameter Monitoring Devices
o High-Acuity Monitors
o Mid-Acuity Monitors
o Low-Acuity Monitors
- Temperature Monitoring Devices
- Weight Monitoring Devices
- Remote Patient Monitoring Devices
Europe Patient Monitoring Market: Overview
Cardiac monitoring category is the biggest category in Europe patient monitoring market and is projected to maintain its commanding share till 2020 due to the rising demand for ECG (Electro Cardiogram) devices and increased rate of cardiac and other comorbid conditions for example, diabetes and high blood pressure. The respiratory monitoring segment is the fastest growing during the aforementioned forecast period.
Europe Patient Monitoring Market: Region-wise Outlook
Furthermore, if we go by geography, the European remote patient monitoring market is categorized into UK, Spain, Italy, Germany and France. Growth in the region is likely to be slow in the aforementioned forecast period because of the factors such as irregular reimbursement policies, decreasing birth rates and reduced number of beds in hospitals.
UK is the biggest market closely followed by Germany due to the widespread proliferation of high-speed internet and services related to it.
Key Questions Answered
- What is the current and future Patient Monitoring market outlook in North America? What trends are affecting the Europe market?
- What is the competitive landscape and market share of major players in the Patient Monitoring space in North America?
- What are the key, high growth markets that Patient Monitoring manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Patient Monitoring currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Patient Monitoring?
- What are the challenges and barriers that have hindered widespread adoption of Patient Monitoring?
Europe Patient Monitoring Market: Key Players
Some of the key players in the Europe Patient Monitoring market are Abbott Laboratories, Johnson & Johnson Inc., Covidien, Drager Medical GmbH, GE Healthcare, , Mortara gimmick Inc., Natus, Nihon Kohden, Masimo Corporation, Nonin Medical, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited and Welch Allyn.
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