Global Non-invasive Monitoring Devices Market Overview
Non-invasive monitoring devices can be used in home care settings besides healthcare organizational set ups. These devices are of great importance for people with long-term illnesses, who have to communicate with healthcare professionals more often. Homecare tele-health enables easy and quick communication between physicians and patients suffering from sleep, mental, cardiovascular, and respiratory problems accompanied with other disorders which is anticipated to increase the demand for patient monitoring devices. Additionally, increasing adoption of sedentary lifestyle on the back of increasingly busy work schedules, rising alcohol consuming population and high prevalence of smoking population are estimated to increase the demand further for non-invasive monitoring devices across the globe. Non-invasive monitoring devices consist of wearable, telemetry, finger-touch computer devices that make monitoring comparatively easier lowering the efforts of a healthcare professional which will aid the non-invasive monitoring devices market grow significantly across the globe.
Market Size & Forecast
Non-invasive Monitoring Devices Market is anticipated to record a CAGR of 5.6% over the forecast period. Factors such as timely & proper treatment at an early stage, rapid diagnosis & fast intervention by the doctor and other advantageous factors, play a major role in consumers switching to non-invasive monitoring devices around the world. The device’s multi-functionality further aids in reducing the overall costs associated with the testing and treatment of the patient driving the non-invasive monitoring devices over the forecast period. Non-invasive patient monitoring aids in hassle-free outcome based healthcare which is expected to grow further on the back of rising geriatric population around the globe. Rising R&D activities in association with increasing innovation factor in these devices is expected to propel the non-invasive monitoring devices market substantially over the forecast period.
On the basis of regional platform, global Non-invasive Monitoring Devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
With a highly developed healthcare sector across the region, North America is attributed to display a vibrant growth in non-invasive monitoring devices market over the forecast period. North America is panned to be followed by Asia Pacific on the back of increasing healthcare expenditure across the economically developing countries across the region such as, India, China and others.
Europe is estimated to showcase a budding growth in the non-invasive monitoring devices market on the back of highest prevalence of geriatric population across the region with countries such as, Italy, Germany, Greece and others requiring advanced healthcare facilities during the forecast period.
Growth Drivers & Challenges
Increasing Adoption of Patient Monitoring for Disease Prevention
Incorporating patient monitoring in chronic disease management can significantly improve a person's quality of life. A monitoring device is able to inform patients about critical deterioration of health informing patients with the information of when they need to apply for emergency help. This factor is anticipated to increase the market for human patient monitoring devices accompanied with rising awareness about these solutions along with increasing attractiveness of the consumer population towards more non-invasive techniques is estimated to propel the market for non-invasive monitoring devices sturdily during the forecast period. Additionally, this technology enables the early detection of deterioration & reduces the number of emergency department visits, hospitalizations & duration of hospital stay. These advantages of monitoring devices aid in the prevention of heart failures, prevent dementia, and maintain diabetes and various other diseases that is expected to serve as a key factor in the growth of the market across the globe.
Increasing Prevalence of Diabetes and Cardiac Disorder Suffering Patients
Increasing cases of cardiovascular diseases with CVSs positioned as the 1st cause of global deaths with 17.9million deaths in 2016, as per WHO statistics. It is estimated to have resulted in 31% of global deaths in 2016 which is expected to increase further due to increasing adoption of unhealthy diet, tobacco use, physical inactivity and harmful use of alcohol across the globe. These adoptions result in raised blood pressure, enhanced blood lipids, increased blood glucose, and overweight and obesity which leads to higher demand for non-invasive monitoring devices over the forecast period. Moreover, the WHO reported an increased percentage from 4.7% in 1980 to 8.5% in 2014 of diabetic patients with an estimated 1.6 million deaths in the year 2016 due to diabetes which is attributable to increase the demand for non-invasive monitoring further for better monitory purposes over the forecast period.
Furthermore, on the back of increasing urbanization and growing healthcare expenditure across the globe, the present population has grown aware of new technologically advanced medical procedures and non-invasive monitoring that will aid the non-invasive monitoring devices market grow robustly during the forecast period.
Presence of Cheaper Alternatives
However, non-invasive monitoring is not the last line of diagnosis and the presence of other cost efficient invasive line of diagnostic and monitoring devices are estimated to play as a restraining factor in the growth of the non-invasive monitoring devices market over the forecast period.
Market Segmentation
Our-in depth analysis of the global Non-invasive Monitoring Devices market includes the following segments:
By Type
- Cardiac Monitoring Devices
- Brain Monitoring Devices
- Blood Pressure Monitoring Devices
- Anesthesia Monitoring Devices
- Blood Glucose Monitoring Devices
By End-Users
- Hospitals
- Clinics
- Diagnostic Centers
- Research & Academic Institutes
By Region
Global Non-invasive Monitoring Devices Market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating The Market
- Abbott
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- General Electric Company
- Medtronic Plc
- Koninklijke Philips N.V
- Omron Corporation
- Vaso Corporation
- Integrity Applications
- CAS Medical Systems, Inc.
- A&D Medical Inc.
- Tensys Medical Inc.
- Other Prominent Players
