The convenience of being treated at home in the known environment is the most preferred choice of the patients which shows the industry is expected to be progressing with changing trends . The health policies that enable a person to avail the services at a certain rate is also contributing to the growth percent of these monitoring devices . The demand for these devices such as blood pressure measurement devices , liquid filled thermometers and pulse oximeters is increasing in number which represents the signs of growth in the industry . The technology is specially designed for ill and aged population for whom the home healthcare is important .
Increase in Gross Domestic Product per capita leads to increasing health care expenditure which drives the industry growth rate . Investments have been increasing on healthcare by corporate groups that provides significant growth rate for the monitoring devices . Some of the benefits of the monitoring devices are reduction in hospitalization rates , office follow ups . Shortage of the healthcare professionals is also one of the major drivers in the U . S . With increase in the levels of population , the chronic diseases such as asthma , COPD and hypertension are outgrowing in number . Obesity is one of the major concern that people share due to unhealthy lifestyle , this results in hypertension . All these factors are expected to increase the market for monitoring devices in the coming seven years .
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Certain wearable medical devices have also been introduced that act as biosensors and monitor and capture psychological data . They also provide feedback , local processing and reports . They offer solutions to both health care providers and physicians . The large number of ongoing innovations and projects , ease of use of medical devices , and growing capabilities & accuracy of such devices is expected to favorably impact market growth . Certain drawbacks in this market are issues in reimbursement , lack of awareness in the developing countries such as India , Brazil , Mexico , and high cost associated with these devices . The U . S due to its preexisting high penetration and limited scope for the addition of hospitals is expected to drive the future growth of this market .
Americans suffer from hypertension and obesity which shall play a key role in the development of the market . Increasing population of diabetic patients in Asia Pacific serves as an indicator that this region is expected to hold the maximum number of consumers for such devices , thereby exhibiting positive growth prospects . North America is the major region that holds the largest market share with maximum number of consumers followed by Europe . Certain new developing markets such as India , China and Japan are also expected to possess high revenue in the coming seven years due to increased health awareness among people and change in their lifestyle . Key industry participants include Welch Allyn , Inc ., SunTech Medical , Inc ., Spacelabs Healthcare , Inc ., Smiths Group plc , Nihon Kohden Corporation , Mindray Medical International Limited , Masimo Corporation , Koninklijke Philips N . V ., General Electric Co ., Dragerwerk AG & Co . KGaA , Covidien Public Limited , ContecMedical Systems