European Patient Monitoring Equipment Market to Surpass €3.4B by 2030, Led by Philips Healthcare

VANCOUVER, British Columbia - Aug. 16, 2024 - PRLog -- iData Research, a leading international market research firm, proudly announces the release of its detailed report on the European Patient Monitoring Equipment market. The full report suite on the global market for multi-parameter vital signs monitoring, wireless ambulatory telemetry monitoring, remote patient monitoring, intracranial pressure (ICP) monitoring, electromyogram (EMG) monitoring, electroencephalogram (EEG) monitoring, cerebral oximetry monitoring, fetal and neonatal monitoring, pulse oximetry monitoring, cardiac output (CO) monitoring, blood pressure monitoring, electrocardiogram (ECG) monitoring and temperature management markets.

The most prevalent trend in the patient monitoring equipment market is the integration of monitoring devices into Internet of Things (IoT) settings. This is evidenced by strong high-single-digit growth in the remote patient monitoring market, which is expected to continue throughout the forecast period. Apart from monitoring devices designed for use outside of professional care settings, many existing patient monitors are being updated to include wireless connectivity and software compatibility to seamlessly integrate systems and improve workflows.

Key highlights from iData's report include:

Robust Market Expansion: Overall, the European patient monitoring equipment market was valued at €2.4 billion in 2023. This is expected to increase over the forecast period to reach €3.4 billion.

Competitive Landscape: ​​In 2023, Philips Healthcare led the European patient monitoring equipment market. In April 2020, it launched the Rapid Equipment Deployment Kit to help hospitals quickly expand ICU monitoring during the COVID-19 pandemic. This kit integrated advanced monitoring technology with predictive algorithms, allowing rapid scaling of critical care within hours. GE Healthcare held the second-largest market share in 2023, excelling in multi-parameter, ambulatory telemetry, and ECG monitoring, particularly with its MAC product line. Tunstall, a telehealth pioneer for over 60 years, supports over five million people with its Lifeline Smart Hub, a cloud-based system that enables independent living without the need for a landline.

Dr. Kamran Zamanian, CEO and Senior Partner at iData Research, notes, "The growing elderly population, along with an overall increase in Europe's population, has significantly contributed to the expansion of the patient monitoring equipment market. Further advancements in device connectivity and interoperability have also been key drivers of this growth."

For more details or to purchase the report, please visit the following link.

https://idataresearch.com/product/patient-monitoring-market-europe/

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