The global transcutaneous monitors industry size sales revenue is estimated to reach US$ 540.1 million by the end of 2029, representing a 4.3% CAGR from its anticipated market value of US$ 401.8 million in 2022. Future Market Insights forecasts that multichannel transcutaneous monitors will control a sizable market share of more than 92.9% in 2021.
The demand for multipara, multichannel transcutaneous monitors is rising daily as a result of multichannel monitor technology advancement. Single channel transcutaneous monitors are likely to gain substantial momentum in underdeveloped nations despite channel limits and a lack of technology breakthroughs due to the comparatively large price differential compared to multi-channel transcutaneous monitors.
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Stakeholders in the transcutaneous monitors market are showing a palpable duality in their approach – in addition to increasing the sales of multi-channel monitors in high income countries, manufacturers are likely to tap into opportunities in price sensitive countries by offering low-cost yet significantly efficient products, according to the FMI analyst.
Multichannel Transcutaneous Monitors to Show Higher Opportunities for New Players
In recent years, the transcutaneous monitors market has been witnessing significant growth, on the back of wide availability of advanced and multi-channel transcutaneous monitors for patient monitoring. The multi-channel transcutaneous monitors involves simultaneous measurement of the ECG, brain functioning, blood gas measurement, and hemoglobin level. Due to rising demand for technologically advanced medical devices, healthcare professionals are giving more priority to buy multichannel transcutaneous monitors. As compared to single-channel transcutaneous monitors, multichannel transcutaneous monitors are fast and provide accurate results. Companies, in the transcutaneous monitors market, are launching products with longer battery life and benchtop portability. Such factors are thus expected to enhance the growth of the transcutaneous monitors market in coming years.
Market Players to Make Two-Fold Investments in APAC:
The APAC region has more demand for the transcutaneous monitors, due to growing number of hospitals and rising regional government initiatives towards public healthcare program. In the APAC region, South Asian countries including India have more number of hospitals. The mounting number of hospitals is expected to create additional demand for transcutaneous monitors in the future. In addition, growing number of local market players operating in countries such as China is expected to intensify the competition in the transcutaneous monitors market in the coming years.
The transcutaneous monitors market is expected to continue sustaining high demand for multichannel transcutaneous monitors, finds the report. As per FMI’s study, significant sales opportunities for the transcutaneous monitors market players are expected in the APAC & Latin America, owing to robust development in healthcare sectors along with favorable government policies for reduced cost of treatment. Also, there are opportunities in the APAC transcutaneous monitors market for new players, including tax exemption for the first three years.
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FMI completed a deep study on transcutaneous monitors by keeping the breadline view in mind about the market CAGR and value share analysis. During the transcutaneous monitors market study, we also studied the top manufacturers’ differential strategies & supply chain parameters. The giant players such as Masimo & Danaher Corporation are focusing on enhancing their product portfolios through the launch of new technology in the transcutaneous monitors market and patented technology in the patient monitoring field. These developmental activities implemented by the top players will remain key to gaining distinct competitive edge in the market.
Key Companies Profiled:
- Radiometer Medical Aps
- SenTec AG
- Perimed AB
- Philips Healthcare
- GE Healthcare
- Criticare Technologies, Inc.
- Hill-Rom Services Inc.
- Medtronic
- Masimo
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Key Market Segments Covered in Transcutaneous monitors Industry Research:
By Channel Type
- Single Channel
- Multichannel
By End User
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Laboratories
- Home Care Settings
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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