According to the report titled ‘Patient Monitoring Devices Market Size By Product, By Type (Conventional, Wireless), By End-use (Hospitals, Ambulatory Surgical Centers (ASCs), Homecare Settings), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, global patient monitoring devices market is expected to record an appreciable growth rate over the forecast period 2020-2026.
 

As per the research findings, growing cases of chronic diseases such as diabetes and cancer, and shifting patient preference towards telemedicine due to the Covid-19 pandemic are fueling global patient monitoring devices market growth.
 

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Technological advancements in this field in developed regions, and improving regulatory scenario for patient monitoring, especially in Asia Pacific, are adding considerable traction to the industry development. However, high costs of patient monitoring devices is negatively impacting the business dynamics.
 

Based on product landscape, global patient monitoring devices market from neuromonitoring devices is anticipated to register a CAGR of 7% over the forecast period due to growing number of neurosurgeries across the globe.
 

In terms of type, convention segment accounted for 63% of industry share in 2019 and will likely showcase strong growth trends in the upcoming years. This can be ascribed to cost-effectiveness and accuracy of conventional devices.
 

With respect to end-use, hospitals segment is slated to record 6% CAGR over the projected timeline, attributable to availability of advanced treatment offerings for various diseases in these establishments.
 

From a geographical perspective, global patient monitoring devices market size spans across North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Among these, Latin America industry was valued USD 1.3 billion in 2019 and is touted to grow exponentially in the ensuing years, on account of proliferating cases of Covid-19 in the reigon.
 

Speaking of the competitive arena, Medion Healthcare Pvt. Ltd., Opto Circuits Ltd., Sensata Technologies Holding Plc, Epsimed LLC, Skanray Technologies Ltd., Mindray Medical International Ltd., Hillrom Holdings Inc., Medtronic plc, Fukuda Denshi, OSI Systems Inc., Nihon Kohden Corp., GE Healthcare, Siemens AG, AND Koninklijke Philips N.V. are the top players in global patient monitoring devices industry.