Attributed to the Rising Prevalence of Neuro-degenerative Diseases, the Patient Monitoring Market in the Neuromonitoring Segment Will Be the Fastest Growing Segment in the Next Five Years
The patient monitoring devices form an indispensible part of medical team for every procedure, whether operating in a small clinic or a large multi-specialty hospital. Advanced technology has reduced the size of these monitors drastically with the latest devices being mere grain sized implants. The rising adoption of telemetry and remote monitoring has fueled the growth of patient monitoring devices. The capacity of these devices to monitor patients from long distance, perform intra-operative procedures, and prescribe treatments to patients has reduced discomfort for patients, which has also reduced the hospital stays for patients and reduced the physicians' need to travel.
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The cardiac monitors segment had the largest share of the total patient monitoring devices market in 2013 and will continue to grow in the next five years to retain the leading position in 2018. The high growth in this segment is attributed to the growing demand for ECG devices. Moreover, rising incidences of cardiac and diseases such as diabetes and hypertension have also contributed to the largest share of the cardiac monitors market. Multi-parameter monitoring devices market was the second largest segment in 2013. These devices can monitor various physiological parameters of a patient in order to have an overview of the patients' health and status. Due to the tremendous increase in the number of hospitalizations, ranging from extremely serious to basic monitoring, hospitals are increasing the investment in the multi-parameter monitoring devices.
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