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The US patient monitoring device market will expand through 2027, driven by favorable demographic trends, growing demand for patient monitoring devices in nonhospital settings, particularly in ASCs, and rising adoption of novel wireless monitoring technologies, which will be supported by recent changes to CMS reimbursement guidelines. However, market expansion will be limited to some extent by market saturation and limited innovation in the more mature patient monitoring device segments, resulting in moderate revenue growth overall.
This Medtech 360 Report provides comprehensive data and analysis on the current state of the market for patient monitoring devices in the US across a 10-year period.
The home care monitoring device market will expand significantly through 2027, thereby presenting growth opportunities for new players to the market.
What are the technological advances aiding the adoption of home care monitoring devices?
What factors will influence the entry of new players in the home care monitoring device segment?
How will established competitors react to increased market entry and heightened competitive pressure?
Efforts to reduce readmission and hospital-acquired infection rates in the US will play a major role in patient monitoring device selection.
To what extent will each market segment be affected by these factors?
What measures are device manufacturers taking to ensure their products remain attractive to US hospitals?
Less invasive methods of patient monitoring will increasingly replace invasive techniques in response to the denial of reimbursement for cases of hospital-acquired infections.
To what extent will each market segment be affected by these shifts in monitoring techniques?
How will the preference for less invasive methods drive product adoption in the patient monitoring market?
How can established device manufacturers without experience in patient monitoring take advantage of high-growth market segments?
Will innovations in the market cause system prices to fluctuate over the forecast period?
The importance of connectivity and integration of patient monitoring systems continues to be emphasized by hospitals.
Does US health care policy favor connectivity and integration in this market?
What specific factors are contributing to the desire for integration?
What changes will be seen in the product composition as a consequence?
What are the benefits for companies to partner with or acquire other competitors in the patient monitoring device market as a result of this trend?
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Omer Farooq Mohiuddin is a research associate within the Endoscopy, Diagnostics, and Healthcare IT Medtech Insights team at Decision Resources Group, specializing in Asia Pacific diabetes care device markets. Omer Farooq Mohiuddin holds a Doctor of Pharmacy degree from Manipal College of Pharmaceutical Sciences at Manipal Academy of Higher Education.