Physiological Monitors Market: Introduction
Continuous monitoring is a valuable tool that helps provide additional information to the medical and nursing staff about the Physiological condition of a patient. Using this information, the clinical staff can evaluate a patient’s condition and make appropriate treatment decisions. These Physiological Monitors systems usually include a central station monitor that receives, consolidates, and displays information and a set of monitors that are deployed near the patient (bedside monitors) to provide the required data of the patient (ECG, respiratory rate, noninvasive blood pressure (NIBP), invasive blood pressure (IBP) (systolic, diastolic, and mean), body temperature, (SpO2), mixed venous oxygenation (SvO2), cardiac output, (ETCO2), intracranial pressure, and airway gas concentrations).
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Physiological monitors are modular, configured, or both. Configured monitors have built-in capabilities. Modular systems feature individual modules for each monitoring parameter or a group of parameters. These modules can be used in any combination with each bedside monitor or changed from one monitor to another.
Some devices are both modular and configured systems. Several Physiological monitoring systems include a central station capable of displaying ECG waveforms and other information from bedside to the main system, while others are equipped with alarms that are coordinated with those at the bedside monitor.
Key Drivers of Global Physiological Monitors Market
Rise in Prevalence of Lifestyle Diseases:
According to the American Diabetes Association, cardiovascular disease (including stroke), cancer, and diabetes account for approximately two-thirds of the total deaths in the U.S. and US$ 700 billion in direct and indirect economic costs each year.
These diseases undermine health, shorten life expectancy, cause enormous suffering and disability, and incur high economic cost.
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Increase in Geriatric Population:
According to the WHO, the speed of population ageing around the world is increasing rapidly. France had almost 150 years to adapt to a change from 10% to 20% in the proportion of the population that was older than 60 years.
Likewise, countries such as Brazil, China and India will have more than 20 years to make the same adaptation.
Product Recall and Migration of Colonic Stent
Product recalls by the Food and Drug Administration are likely to hamper the growth of the global Physiological Monitors Market. For instance, on May 14, 2018 Infinity Acute Care System (lACS) Monitoring Solution offered by Draegar Medical Systems, Inc. was recalled.
The reason for the recall of the product is the Software anomaly resulting in the loss of patient settings and stored patient data.
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North America to Hold a Major Share of Global Physiological Monitors Market
North America is expected to hold the major share of the global Physiological Monitors Market. The Physiological monitors market is expected to grow in North America at a rapid pace and certain factors that are driving this growth include rising incidence of chronic diseases due to the lifestyle changes in the region, increase in the aging population and need to reduce the healthcare expenditure.
North America region is growing at a rapid pace and certain factors that are driving this growth include rising incidence of chronic diseases due to the lifestyle changes in the region, increase in the aging population and need to reduce the healthcare expenditure
The Physiological Monitors Market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to preference for minimally invasive procedures. The prevalence and incidence of colorectal cancer is increasing in the region. According to the Indian Council of Medical Research, in India, the annual incidence rate of colon cancer in men and women is 4.4 and 3.9 per 100,000 people, respectively.
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Key Players Operating in Global Market:
The global Physiological Monitors Market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective region. The demand for colonic stent has increased in emerging as well as developed markets. Industry players are adopting practices of appointing third-party distributors to expand their market presence. This has led to a surge in the number of distributors and suppliers in emerging markets. Leading players operating in the global Physiological Monitors Market are:
- Abbott
- Hoffmann-La Roche Ltd
- Boston Scientific Corporation
- BD
- Medtronic
- Koninklijke Philips N.V.
- GE Healthcare
- Other Prominent Players
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