As per the recent report published by Market Research Future (MRFR), the global Non-Invasive Monitoring Device Market size and share will grow at a CAGR of 6.8% during the forecast period (2017-2023). In the process, the non-invasive monitoring device market can exceed a valuation of USD 21,586.18 million. Non-invasive monitoring devices are finding it easier to impact intensive care units.
The technology doesn’t require complex tools, and the complications-related to invasive technologies can be ignored in this owing to its methods. MRFR in their recently published article on the non-invasive monitoring device market included in-depth segmental analysis and factors that can have significant market growth. In addition, the report has updated company portfolios with a focus on the latest strategic moves made by them.
Need for diagnostic and monitoring devices for a better and efficient service can spur the non-invasive monitoring device market growth during the forecast period. Among them, the cardiovascular segment can provide much thrust to the market. But the market can see some restraints as the accuracy of the measurement is still not perfect. However, it can be challenged in the near future by the continually developing instruments.
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Non-Invasive Monitoring Devices Market Segmentation:
MRFR’s report on the non-invasive monitoring device market offers a detailed segmental analysis by
• Type
• Modality
• Application
• End-user
Based on the type the non-invasive monitoring device market can be segmented into
• Brain monitoring devices
• Cardiac monitoring devices
• Blood glucose monitoring devices
• Blood pressure monitoring devices
• Anesthesia monitoring devices
• Others
The cardiac monitoring devices segment includes
• Electrocardiography
• Cardiac output devices
The brain monitoring devices segment comprises
• CT
• MRI
• Electromyography
• Electroencephalography
• Evoked potentials
• Intracranial pressure monitors
• Others
The cardiac monitoring devices segment led the market in 2016 and can grow by 6.46% CAGR during the forecast period.
By modality the non-invasive monitoring device market comprises
• Tabletop devices
• Wearable devices
The tabletop devices segment was in charge in 2016 and can expect a rise by 6.60% CAGR over the assessment period. The wearable devices segment can register a better CAGR of 7.17% during the same period.
Application-wise the non-invasive monitoring device market includes
• Cardiology
• Neurology
• Oncology
• Others
Cardiology segment had the leash in 2016 and is expected to continue its dominance during the forecast period as well. The neurology segment can record a CAGR of 7.23% over the assessment period.
By end-user, the non-invasive monitoring device market consists hospitals & clinics, diagnostic centers, research & academic institutes, and others. The hospitals & clinics segment dominated the market as of 2016. The diagnostic centers segment can record a CAGR of 7.23% during the forecast period.
Non-Invasive Monitoring Device Market Regional Analysis:
Region-specific analysis of the global non-invasive monitoring device market leads to Asia Pacific (APAC), the Americas, Europe, and the Middle East & Africa (MEA).
The Americas is leading the market and is expected to register positive growth in the coming years. The credit goes to technological and healthcare-related infrastructural superiority. The APAC market has the second largest market. The cost of manufacturing new devices is pretty low in the region, which can lure in a number of market players. Furthermore, countries trying to set themselves up as a medical tourism hub is helping the growth rate.
High disposable income and better state of the national economies in the region can project a better future for the regional market. The regional non-invasive monitoring device market is already benefitting from research and development, and the presence of several market titans in the area.
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Non-Invasive Monitoring Device Market Competitive Analysis:
Major companies profiled in the non-invasive monitoring device market report made by MRFR are,
• Medtronic Plc
• General Electric Company
• Abbott
• Omron Corporation
• KONINKLIJKE PHILIPS N. V.
• Vaso Corporation
• Integrity Applications
• CNSystems Medizintechnik AG
• CAS Medical Systems Inc.
• A & D Medical Inc.
• Tensys Medical Inc.
• NIMedical
• OrSense Ltd.
• Advanced Brain Monitoring Inc.
In 2018, Dynamic Brain Labs in Tokyo developed GlucoScanner that uses non-standard light frequencies in the infrared spectrum and read the available data related to the glucose level in the blood. The method would be painless as invasive technologies have been avoided in the making of this device.
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