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Analysis of the Critical Care Patient Monitoring Market, US and EU5, Forecast to 2024
Market to Shift from Stand-alone Monitors to Integrated Solutions and Reach a Size of $13.17 Billion in 2024
17-Mar-2020
North America
Market Research
The economic burden for global critical care is estimated at $270 billion and intensive care unit (ICU) mortality in developed countries is still in the range of 10% to 20%. Advancements in effective patient monitoring in the ICU can not only help reduce the mortality rate but also be beneficial in improving patient and healthcare staff experience. Further, external factors like value-based care adoption and consolidation of hospital systems are expected to provide strong impetus for the development of more efficient and cost-effective critical care monitoring solutions.
The revenue growth from the sale of standalone bedside monitors is expected to decline gradually over the years due to the decrease in ICU bed utilization and the improvements in preventive care. However, the rise in demand for improved care quality is expected to drive the overall critical care solution market and push market participants to shift their focus from products to solutions. ICU digitalization is seen as a major trend across regions. Companies are already actively working and commercializing solutions for data management, clinical decision support systems and wireless monitoring. With the adoption of new-age technologies like advanced sensors, telemetry, artificial intelligence (AI) and cloud computing, effective integration and assessment of data from diverse sources like imaging, clinical notes and patient history has become possible, thus leading to improved health outcomes and patient experience. Digitalized solutions have also led to a reduction in care/medication, hospital stay, readmission and staff workload, resulting in an improvement in overall cost efficiency for critical care.
Research Highlights
This study outlines the background and current trends in the critical care patient monitoring industry that are driving the shift in business models and product innovations, and also presents the top 3 growth opportunities. It analyzes market drivers/restraints, provides growth forecasts for the market for the next 5years till 2024, as well as gives a revenue segmentation break-up by region and solution categories. Further, it provides key insights into trends that are reshaping the future ecosystem of critical care monitoring, considering strategic initiatives and collaborations by established participants as well as new technology advancements/disruptions by start-ups.
Key Issues Addressed
- Is the market growing, how long will it continue to grow and at what rate?
- Who will continue to occupy the major market share and which segments are expected to grow at a faster rate compared to others?
- What are the current unmet needs and different growth opportunity areas?
- How will external factors like value-based care and aging population impact the market?
- Which recent technology innovations can disrupt the market and who are the key innovative players to watch for?
- What are the different strategic initiatives and business models adopted by key participants for achieving sustainable growth?
Author: Kaustubh Suresh Savant
Key Findings
Scope and Segmentation
Key Questions this Study will Answer
Market Engineering Measurements
Market Engineering Measurements (continued)
Market Engineering Measurements (continued)
CEO’s Perspective
Key Companies to Watch
Executive Summary—3 Big Predictions
Market Background
Economic Burden of Critical Care
Market Segmentation
Market Segmentation (continued)
New Market Opportunities
New Market Opportunities (continued)
Merger, Acquisition and Partnership Assessment
Merger, Acquisition and Partnership Assessment (continued)
Merger, Acquisition and Partnership Assessment (continued)
Impact of Healthcare Industry Mega Trends on the Critical Care Patient Monitoring Market
Market Drivers
Drivers Explained
Drivers Explained (continued)
Drivers Explained (continued)
Market Restraints
Restraints Explained
Restraints Explained (continued)
Market Engineering Measurements
Forecast Assumptions
Revenue Forecast
Revenue Forecast by ICU Category
Revenue Forecast Discussion
Percent Revenue Forecast by Country
Revenue Forecast by Country
Revenue Forecast Discussion by Country
PESTLE Analysis
Market Share and Analysis
Technology Innovation Trend
Product Development Trend
Future Readiness Assessment Matrix
Recent Strategic Initiative Assessment for Key Participants
Recent Strategic Initiative Assessment for Key Participants (continued)
Technology Start-up Map
Start-up Activity and Funding across Critical Care Continuum
Select Start-up Profiles
Select Start-up Profiles (continued)
Select Start-up Profiles (continued)
Select Start-up Profiles (continued)
Select Start-up Profiles (continued)
Recent Technology/Product Development Focus
Recent Technology/Product Development Focus (continued)
Recent Technology/Product Development Focus (continued)
Analyst Perspective—Future Scenario
Growth Opportunity 1—Integrated Solutions Through a Service-based Model
Growth Opportunity 2—Preventive Pre/Post ICU Care
Growth Opportunity 3—Improving Patient/Staff Experience
Strategic Imperatives for Success and Growth
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by Sub-Segment
Revenue Forecast Discussion by Sub-Segment
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by Sub-Segment
Revenue Forecast Discussion by Sub-Segment
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by ICU Category
Revenue Forecast Discussion by ICU Category
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by ICU Category
Revenue Forecast Discussion by ICU Category
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by ICU Category
Revenue Forecast Discussion by ICU Category
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by ICU Category
Revenue Forecast Discussion by ICU Category
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by ICU Category
Revenue Forecast Discussion by ICU Category
Market Engineering Measurements
Revenue Forecast
Revenue Forecast by ICU Category
Revenue Forecast Discussion by ICU Category
The Last Word—3 Big Predictions
Legal Disclaimer
Market Engineering Methodology
Learn More—Next Steps
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
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Research Highlights
This study outlines the background and current trends in the critical care patient monitoring industry that are driving the shift in business models and product innovations, and also presents the top 3 growth opportunities. It analyzes market drivers/restraints, provides growth forecasts for the market for the next 5years till 2024, as well as gives a revenue segmentation break-up by region and solution categories. Further, it provides key insights into trends that are reshaping the future ecosystem of critical care monitoring, considering strategic initiatives and collaborations by established participants as well as new technology advancements/disruptions by start-ups.
Key Issues Addressed
- Is the market growing, how long will it continue to grow and at what rate?
- Who will continue to occupy the major market share and which segments are expected to grow at a faster rate compared to others?
- What are the current unmet needs and different growth opportunity areas?
- How will external factors like value-based care and aging population impact the market?
- Which recent technology innovations can disrupt the market and who are the key innovative players to watch for?
- What are the different strategic initiatives and business models adopted by key participants for achieving sustainable growth?
Author: Kaustubh Suresh Savant
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Kaustubh Suresh Savant |
| Industries | Healthcare |
| WIP Number | MF33-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9600-B1,9A47-B1,9A48-B1,9A4B-B1 |