The Italy patient monitoring market size is projected to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing burden of chronic disorders.
Patient monitoring systems are collection of machines or equipment that enable healthcare providers to monitor patient’s health such as electrocardiograph, respiration, invasive and non-invasive blood pressure, oxygen saturation, and body temperature. Bedside patient monitoring system and remote patient monitoring systems are two types of patient monitoring systems. The main objective of patient monitoring system is to provide early diagnosis or warning.
The COVID-19 pandemic has positively impacted the patient monitoring market due to increasing demand for patient monitoring systems, and manufacturers are focusing on expanding production to meet and increasing requirement for respiratory monitoring devices, multi-parameter monitoring devices, blood glucose monitoring devices, cardiac monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, and fetal/neonatal monitoring devices.
Market Trends, Drivers, Restraints and Opportunities
- Increasing geriatric population is projected to drive the market growth during the forecast period.
- Growing preference for home and remote monitoring is expected to boost the market growth in the coming years.
- Rising efforts from device manufacturers to develop advanced products is anticipated to boost the market growth in the coming years.
- Increasing prevalence of patients suffering from various lifestyle disorders such as diabetes, cancer, and atherosclerosis is projected to drive the market growth during the forecast period.
- Expanding demand for patient monitoring devices in hospitals and non-hospitals is expected to boost the market growth in the coming years.
- Rising preference for wearable patient monitoring devices is anticipated to boost the market growth in the coming years.
- Increasing pricing pressure on market players is projected to drive the market growth during the forecast period.
- Lack of skilled personnel can restrict the market growth.
- Lack of awareness among patients is estimated to restrict the market growth in the coming years.
- Collaborations between companies, hospitals, and academic institutions are expected to lead to the launch of new products can create lucrative opportunities during the forecast period.
Scope of the Report
The report on the Italy patient monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Patient Monitoring Market - Italy Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types of Devices (Hemodynamic Monitoring Devices, Neuromonitoring Devices, Cardiac Monitoring Devices, Multi-parameter Monitors, Respiratory Monitoring Devices, Remote Patient Monitoring Devices, and Others), Applications (Cardiology, Neurology, Respiratory, Fetal & Neonatal, Weight Management & Fitness Monitoring, and Others), and End-users (Home Healthcare, Hospitals & Clinics, and Others)
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Country Scope
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Italy
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Koninklijke Philips NV; Nihon Kohden Corporation; GE Healthcare (GE Company); Abbott Laboratories; and Dragerwerk AG & Co. KGaA
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Italy Patient Monitoring Market Segment Insights
Remote patient monitoring devices segment to hold a significant market share
Based on type of devices, the market is divided into hemodynamic monitoring devices, neuromonitoring devices, cardiac monitoring devices, multi-parameter monitors, respiratory monitoring devices, remote patient monitoring devices, and others. The neuromonitoring devices segment is anticipated to hold a key share of the market in the coming years, as it helps to reduce neurovascular injury, permanent nerve damage, and other risk of vascular complication. However, the remote patient monitoring devices segment is anticipated to expand at a rapid pace during the forecast period owing to ease of access to patient data.
Fetal & neonatal segment is anticipated to hold a large market share
On the basis of applications, the market is bifurcated into cardiology, neurology, respiratory, fetal & neonatal, weight management & fitness monitoring, and others. The neurology segment is anticipated to expand at a rapid pace during the forecast period due to increasing prevalence of neurological disorders. However, the fetal & neonatal segment is anticipated to hold a key share of the market in the coming years due to restitution of gene expression may avoid irreversible patholical processes.
Hospitals & clinics segment to hold a significant market share
In terms of end-users, the market is divided into home healthcare, hospitals & clinics, and others. The hospitals & clinics segment is anticipated to hold a key share of the market in the coming years due to personalized care and presence of team of professionals.
Segments
The Italy patient monitoring market has been segmented on the basis of
Types of Devices
- Hemodynamic Monitoring Devices
- Neuromonitoring Devices
- Cardiac Monitoring Devices
- Multi-parameter Monitors
- Respiratory Monitoring Devices
- Remote Patient Monitoring Devices
- Others
Applications
- Cardiology
- Neurology
- Respiratory
- Fetal & Neonatal
- Weight Management & Fitness Monitoring
- Others
End-users
- Home Healthcare
- Hospitals & Clinics
- Others
Country
Key Players
- Koninklijke Philips NV
- Nihon Kohden Corporation
- GE Healthcare (GE Company)
- Abbott Laboratories
- Dragerwerk AG & Co. KgaA
Competitive Landscape
Key players competing in the patient monitoring market includes Koninklijke Philips NV; Nihon Kohden Corporation; GE Healthcare (GE Company); Abbott Laboratories; and Dragerwerk AG & Co. KgaA.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.