According to a new market research report published by sheer analytics and insights, “The Global Patient Monitoring Accessories Market was valued at $7.9 Billion in 2020. Growing at a high CAGR of more than 9.57% between 2021 and 2031, it is estimated to reach $23.2 Billion by 2031, as per the latest market research report titled Global Patient Monitoring Accessories Market - Industry analysis, size, share, growth, trends, and forecast, 2021-2031.
Patient monitoring accessories are supplemental medical devices used or with patient monitoring devices to perform the efficient and timely treatment. These accessories include blood pressure cuffs, SpO2 sensors, neuromuscular transmission sensors, CO2 absorbers/Amsorb filters, temperature sensors, brain monitoring system sensors, and ECG lead wires. All of them help in collecting and analyzing the vital signs of the patient. Integration of monitoring technologies in wireless devices and smartphones is a key trend of patient care, appearing in the introduction of remote monitoring systems, mobile personal digital assistant (PDA) systems, ambulatory wireless EEG recorders, mobile cardiac telemetry devices, and ambulatory event monitors are the key factors supporting the growth of the market. Rising demand for patient monitoring and the appearance of technologically advanced monitoring accessories drive the market during the forecast period.
However, in this current pandemic of COVID-19, the Patient Monitoring Accessories market was affected much. It changes the growth rate graph slightly in the Patient Monitoring Accessories market. People are spending more money on healthcare equipment, which propels the market growth in this current situation. Moreover, in this pandemic, people are suffering from various disease, especially for the COVID-19 attack, that is why patient monitoring device is the ultimate device which can observe the patient efficiently. Apart from that, the rising of the medical device sector across the world is anticipated to offer a massive opportunity for market growth in the next forecast period of 2021 to 2031.
Geographically, The Patient Monitoring Accessories Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Medtronic plc, GE Healthcare Limited, Nihon Kohden Corporation, Masimo, Welch Allyn Inc., LifeScan Inc, Honeywell, Lifecare Solutions, Philips, Omron, Roche, Abbott Laboratories, Hill-Rom Holdings, Inc., Drägerwerk AG & Co. KGaA, and Edwards Lifesciences Corporation among others.
The Global Patient Monitoring Accessories Market Has Been Segmented into:
Global Patient Monitoring Accessories Market: By Product
Global Patient Monitoring Accessories Market: By End-Use
Global Patient Monitoring Accessories Market: By Region