Non-invasive monitoring devices enable measurement of vital signs of the patient without the need of insertion in the body. Non-invasive monitoring devices are witnessing a rage and top the list of clinicianswish list.The global non-invasive monitoring device market is experiencing a demand cliff and the market is expected to undergo frenzy.
According to Market Research Future (MRFR), the global non-invasive monitoring device market size is expected to garner a valuation of USD 21,586.2 MN by the end of 2023. In its recently published analysis, MRFR also asserts that the market would register a CAGR of over 6.8% over the assessment period (2016-2023).
Monitoring of vital health parameters such as blood pressure, temperature, heart rate and others is ubiquitous in medicine. Non-invasive monitoring devices is attracting a large following owing to advantages such as patient comfort, avoidingpenetration of the body, low risk of infection and others.
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The advancements in sensor technology such as greater accuracy is driving a technological disruption of the healthcare monitoring devices industry. The growing prevalence of chronic diseases such as cardiovascular diseases, neurovascular diseases, coupled with increasing geriatric population, is driving a substantial demand for the market growth.
According to the Center for Disease Control and Prevention (CDC), almost 630,000 U.S. citizens die due to heart diseases, while approximately 30.3 million suffer from diabetes in 2018. Growing exposure to risks factors such as fatty food intake, sedentary living, and obesity, is expected to fuel the demand for non-invasive monitoring devices.
However, concern over erroneous readings coupled with the nonlinearity of measured parameters such as impedance to real parameters such as blood flow rate is driving a large market.
Competitive Landscape:
The global market for non-invasive monitoring device is witnessing substantial growth due to the growing impact of involved companies who are implementing various strategic move. The moves are addressed to cement these companies’ market position and make holistic changes in the global market scenario. MRFR enlisted a few companies in the report to make sure that it provides a better grip over the market in the coming years to enable better assessment.
These companies are Medtronic PLC (Ireland), General Electric Company (US), Abbott (US), KONINKLIJKE PHILIPS NV (Netherlands), Vaso Corporation (US), Omron Corporation (Japan), CAS Medical Systems, Inc. (US), Integrity Applications (Israel), Tensys Medical Inc (US), NIMedical (Israel), A&D Medical Inc. (Japan), CNSystems Medizintechnik AG (Austria), OrSense Ltd (Israel), and Advanced Brain Monitoring, Inc (US).
Segmentation:
A detailed study of the global non-invasive monitoring device market is founded on type, application, modality, and end user. The segmentation simplifies the understanding of factors that can impact the global market.
- By Type, the market for non-invasive monitoring device covers anesthesia monitoring devices, cardiac monitoring devices (electrocardiography & cardiac output monitors), blood pressure monitoring devices, brain monitoring devices, and blood glucose monitoring devices.
- By Modality, the market for non-invasive monitoring device includes table-top devices and wearable devices.
- By Application, the non-invasive monitoring device market includes neurology, cardiology, and oncology.
- By End-user, the market segmentation includes diagnostic centers, hospital & clinics, and research & academic institutes. The hospitals & clinics segment had a valuation of USD 5457.4 million in 2016.
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Regional Analysis
North America dominates the global non-invasive monitoring device market with the largest market share owing to rapid adoption of technology, presence of large hospitals, excellent reimbursement, and the consolidation of healthcare industry. Besides, the prosperous baby boomer’s population and the large healthcare expenditures provide a large impetus to the growth of the U.S. market.
The non-invasive monitoring device market in Europe is proliferating owing to large healthcare expenditure and flourishing medical devices industry in the region. Other factors such as the development in the large multispecialty hospitals is driving a huge demand for the Europe non-invasive monitoring device market.
The Asia Pacific non-invasive monitoring device market is projected to emerge as the largest market in the near future. Growing medical device manufacturing and large patient population is driving the growth of the Asia Pacific market.
