Europe Patient Monitoring Devices Market Share, Growth Drivers, Upcoming Trends, Revenue, Challenges, Competitive Analysis and Future Outlook 2024-2033: SPER Market Research
Heart rate, blood pressure, temperature, blood oxygen saturation levels (SPO2), and other biometric parameters can all be measured, recorded, distributed, and displayed using patient monitoring systems. They are employed for routine patient monitoring, which can assist avert major issues. Furthermore, by 2020, almost four million patients should be able to remotely check their health status, according to the IHS (Information Handling Services). Remote patient monitoring has increased by 34% as a result (RPM). Furthermore, the RPM market is being tapped into by tech behemoths like Google, Apple, and Amazon, which will drastically alter the healthcare industry.
According to SPER market research, ‘Europe Patient Monitoring System Market Size-By Type, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Europe Patient Monitoring System Market is predicted to reach USD 111.68 Billion by 2033 with a CAGR of 10.1%.
Europe Patient Monitoring System Market Driving Factors:
- Ageing Population: Because elderly people frequently need ongoing health monitoring and care, Europe’s ageing population has a major impact on the demand for patient monitoring systems.
- Technological Developments: The rapid improvements in wearables and remote monitoring systems, among other aspects of healthcare technology, are driving the European adoption of patient monitoring systems.
- Growing Prevalence of Chronic Diseases: In order to properly treat and keep an eye on these problems, there is an increasing need for patient monitoring systems due to the growing prevalence of chronic diseases like diabetes, cardiovascular disease, and respiratory disorders.
- Government programmes: The adoption of patient monitoring systems is influenced by government programmes that aim to expand access to healthcare services and improve the infrastructure supporting healthcare.
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Europe Patient Monitoring System Market Challenges:
- Data Security and Privacy Issues: Because of the possibility of data breaches and unauthorised access, it is still very difficult to guarantee the security and privacy of patient data gathered by monitoring systems.
- Issues with payment: Adoption of patient monitoring systems may be hampered by difficulties with payment rules and coverage, especially in nations with strict healthcare budgets.
- Regulatory Compliance: Manufacturers and healthcare providers have difficulties while implementing patient monitoring systems because to the need to comply with intricate regulations and standards, such as the General Data Protection Regulation (GDPR) in the European Union.
- Interoperability problems: Inadequate communication and integration of data between various patient monitoring systems and healthcare IT platforms is impeded by a lack of interoperability, which lowers the effectiveness of healthcare delivery.
COVID Impact: The hospital system, which was already understaffed and overworked, was severely strained by the COVID-19 outbreak. Via the monitoring of critically ill COVID-19 patients, patient monitoring technologies—like ventilators—were able to quantify physiological reserves and demonstrate the effectiveness of therapeutic interventions throughout the pandemic, which had a positive effect on the market. The companies are also increasing the output of vital or crucial medical equipment. To help identify and treat COVID-19 patients, Royal Philips, for instance, boosted production of critical care supplies and solutions in March 2020. The range of products includes portable ventilators for treating respiratory disorders, medical supplies for both invasive and non-invasive ventilation, and patient vital sign monitors.
Additionally, some of the market key players are Abbott, Koninklijke Philips N.V, Masimo, Medtronic, Mortara Instruments Inc, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Welch Allyn, Others.
Europe Patient Monitoring System Market Segmentation:
By Type: Based on the Type, Europe Patient Monitoring System Market is segmented as; Cardiac Monitoring Devices, Hemodynamic Monitoring Devices, Multi-parameter Monitors, Neuromonitoring Devices, Respiratory Monitoring Devices, Other Types of Devices.
By Application: Based on the Application, Europe Patient Monitoring System Market is segmented as; Cardiology, Fetal and Neonatal, Neurology, Respiratory, Weight Management and Fitness Monitoring, Other Applications.
By End User: Based on the End User, Europe Patient Monitoring System Market is segmented as; Home Healthcare, Hospitals and Clinics, Other End- User.
By Region: This research also includes data for Belgium, France, Germany, Italy, Netherlands, Russia, Spain, Switzerland, The U.K., Turkey, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Europe Patient Monitoring System Market Future Outlook
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