Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Wireless Patient Monitoring Device is a technology that is used to enable monitoring of patients outside of conventional clinical settings (e.g. in the home). These devices have the advantage of allowing patient movement without restricting patients to a bedside monitor with a hard-wired connection. It simplifies the accessibility towards health care resources, reduces healthcare costs, allows earlier diagnosis and prevents misdiagnosis. But the most important advantage of using patient monitoring systems in healthcare facilities is that it improves communication between patients and their healthcare providers by simplifying data transmission. Also this is an efficient way to address the issue of staff shortage which is a common factor observed in various large healthcare institutions. This reduces the strain on the resources such lab tests, beds, staff and other healthcare resources.
Global Wireless Patient Monitoring Devices market is expected to flourish at a CAGR of 9.4% over the forecast period i.e. 2017-2027. Further, the market is expected to reach USD 1.7 Billion by the end of 2027.
Geographically Asia Pacific market is expected to grow at the highest CAGR due to rising awareness regarding preventive treatment for diseases such as cardiovascular disorders, neurodegenerative diseases, diabetes, respiratory disorders etc. especially in emerging economies such as China and India. Among the Asian countries China has largest market share in the regional platform and is expected to continue its dominance over the forecast period.
Also, Europe market is expected to increase on a moderate pace. Countries such as Germany and Italy are expected to show a very positive growth over the forecast period. However some European countries such as Spain where the government measures to reduce the healthcare expenditures to tackle financial crisis, has resulted in a slow growth of Wireless Patient Monitoring Devices Market.CLICK TO DOWNLOAD SAMPLE REPORT
Further, North America Wireless Patient Monitoring Devices market is expected to grow at a substantial rate over the forecast period. Further, factors such as increased healthcare expenditure to promote preventive healthcare are expected to be the dynamic factor for the growth of Wireless Patient Monitoring Devices market in this region.
Our in-depth analysis has segmented global expandable polystyrene market into the following segments:
Global Wireless Patient Monitoring Devices market is further classified on the basis of region as follows:
The wireless patient monitoring technology allows healthcare providers to reach out to wider array of healthcare seekers by not confining to the confines of the traditional healthcare facility. This technology generates real time data from the patient’s physiological conditions to facilitate better diagnosis and devise better strategies for emergency measures. Also, the increasing prevalence of various diseases such as respiratory diseases, strokes and heart failures, hypertension, diabetes, renal diseases, epilepsy etc. has put a strain on existing healthcare resources in form of hospital beds, conventional diagnostic resources etc. along with healthcare staff in form of physicians, nurses, etc. Wireless patient monitoring devices reduces this stress as it allows for better data transmission within or outside the boundaries of a healthcare facility. Also, favorable government initiatives to promote the usage are expected to positively impact the market growth over the forecast years.
However, the increasing cost associated constraints along with limited accessibility in low and middle income countries is expected to negatively affect the market growth.
Overview of the Parent Market
Analyst View
Segmentation
The Wireless Patient Monitoring Devices market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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