Global Transcutaneous Monitors Market is set to experience significant growth of 4.3% CAGR from 2022 to 2029, with an estimated market value of around US$ 401.8 Million as of 2022. As per Future Market Insights projections, multichannel transcutaneous monitors hold a substantial share of over 92.9% in 2021 within the global market.
| Data Points | Market Insights |
|---|---|
| Market Value 2021 | US$ 385.1 Million |
| Market Value 2022 | US$ 401.8 Million |
| Market Value 2029 | US$ 540.1 Million |
| CAGR 2022 to 2029 | 4.3% |
| Market Share of Top 5 Countries | 56.8% |
The transcutaneous monitors market has been displaying a trend of technological advancements over the last decade, and the introduction of automated patient monitoring systems such as the novel multichannel transcutaneous monitors is expected to drive market growth over the next seven years.
Due to the high demand for sensibly operated patient monitoring systems for ease of collection of patient dynamics and the collation of patient data for display to the physicians in case of abrupt emergency response, the development of transcutaneous monitors is gaining traction.
With the non-invasive monitoring method of patient oxygenation data through the incorporation of sensors for blood gas diffusion dynamics, the transcutaneous monitors market will emerge as smart monitoring systems over the projected forecast period.
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| Particulars | Details |
|---|---|
| H1, 2021 | 4.26% |
| H1, 2022 Projected | 4.31% |
| H1, 2022 Outlook | 4.21% |
| BPS Change - H1, 2022 (O) – H1, 2022 (P) | (-) 10 ↓ |
| BPS Change – H1, 2022 (O) – H1, 2021 | (-) 5 ↓ |
FMI has shaped a comparative study of market growth rates and development prospects in the global transcutaneous monitors market. Regulatory approvals for devices and innovation factors, as well as the impact of macro and industry dynamics, have an impact on the market. Mechanical, optical, and wearable sensors are among the most significant advancements in this field.
As per the analysis by Future Market Insights, the market will decrease by 5 Basis Point Share (BPS) in H1-2022 (O) as compared to H1-2021. The variation between the BPS values observed within this market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 10 BPS.
The factor of the complicated anisotropic composition of the skin, which forms a nonlinear stress-strain curve in response to elongation, therefore resulting in noise within patient data, and reducing device performance, is one of the major reasons for this fall in BPS.
In the second half of the projection period, other market categories are expected to do fairly well and have excellent growth possibilities. Manufacturing barriers with the design of strong mechanical sensors and selection of material to incorporate the properties of extension and stretching as per the surface of the skin, which has the inherent property of stretching to withstand large forces and facilitate movement and extensibility, are some relevant deterrent points that affect industry growth.
The market value for transcutaneous monitors holds nearly 1.1% of the overall US$ 36.4 Billion Patient Monitoring Devices market in 2021.
The applications of transcutaneous monitoring are wide-ranging among a spectrum of various physical indications, however, the utilization of these systems as a tool in non-invasive monitoring of oxygenation levels as well as the ventilation status in neonates has displayed a major adaptive significance of transcutaneous monitors worldwide.
The transcutaneous monitors provide information in real-time, allowing for abrupt action by physicians to improve patient outcomes by monitoring patient safety. Conventional transcutaneous CO2 monitoring devices can be operated at lower temperatures as compared to the products introduced before them, thus ensuring less prospective to cause thermal injury to immature skin.
The transcutaneous monitoring procedures induce arterialization of the capillaries by increasing the local temperature of the skin at the sensor site. Moreover, for patients under observation for sleep-associated breathing disorders including sleep apnea and obesity hypoventilation syndrome, transcutaneous monitoring assists with the data collection and documentation of the diagnostic criteria and contributes to the determination of effective therapeutic response.
The market is expected to expand at a considerable growth rate over the next seven years at a CAGR of close to 4.3%.
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The opportunistic growth of the transcutaneous monitors market is associated with the property of incorporated auto calibration property of the monitors to ensure an accurate and stable device output. The requisites for adequate maintenance and calibration after specified intervals of time can be time-consuming and a cost-incurring process.
However, the introduction of automated transcutaneous monitors and defining their preference over manually calibrated transcutaneous monitors is set to project a lucrative growth in the rate of adoption of transcutaneous monitors over the forecast period.
The introduction of multichannel transcutaneous monitors has further presented a unique approach to market penetration for the key players in the transcutaneous monitors market. The multichannel transcutaneous monitors are capable of coupling with a multitude variation of sensors which are primarily applicable to patient monitoring systems.
With the display of multiple factor-associated outcomes related to patient care, multichannel transcutaneous monitors present a rising opportunity for manufacturers in the transcutaneous monitors market. Additionally, the innovative developments in new device integration such as the induction of IR and wireless technologies by chief manufacturers are posing a rise in the potential of adoption of transcutaneous monitors in developed economies. However, the factor of the cost associated with the manufacturing capabilities and technology integration into the current systems may be a hurdle for the rapid emergence of novel transcutaneous patient monitoring devices.
But, the applications of these devices in a wide range of processes, such as respiratory care, blood gas monitoring, wound healing, measurement of amputation level, and diagnostic procedures in vascular ischemia and diabetes among others have subjected the market to a potential track to the evolution of transcutaneous monitoring devices for optimized patient output.
Thus, the growing applications of transcutaneous monitors in the above-mentioned applications are likely to advance the sales revenue growth of major product manufacturers in the transcutaneous monitors market over the forecast period.
Although the applications of transcutaneous monitors are gaining traction, pulse oximeters are widely being replaced as a preference over transcutaneous monitoring for basic vital analysis for patients. Moreover, stringent regulatory guidelines and the approval of novel medical devices in various regions may act as one of the chief restrictive factors for the penetration of emerging manufacturing players in the transcutaneous monitors market.
Transcutaneous monitors are classified under the class II medical device category. Even though there is a form 510(K) exclusion for class II devices, the market approval of the new medical device products as well as sub-optimal outcomes in clinical trials may lead to restricting the revenue growth of emerging companies in the transcutaneous monitors market.
Additionally, the factors associated with the lack of reimbursement policies in developing regions have imposed a restrictive impact on the growth of the adoption of transcutaneous monitors. Moreover, the reimbursement scenario in the developed regions with established healthcare systems is paving the way for the formulation of guidelines and policies of reimbursement associated with the procedures which entail the applications of transcutaneous monitoring devices. The developmental scenario of reimbursement in developed countries is thus a complex process and is currently under advancement, as per the regulations guiding the intended use of particular patient monitoring medical devices.
These factors are thus associated with the low share of the transcutaneous monitors market, owing to the low investment activities by major investors, as well as foreign ventures, which directly translates to a major restraint in the growth of the transcutaneous monitors market.
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The USA dominates the North American region with a total market share of over 93.2% in 2021 and is projected to continue experiencing high growth throughout the forecast period. The growth is associated with the established healthcare infrastructure in the country, along with the increasing trend of adoption of non-invasive methods of patient monitoring in the region.
Germany is set to exhibit a CAGR of over 1.2% in the European transcutaneous monitors market during the forecast period. The region is set to pose a lucrative growth owing to the presence of established key manufacturers in the region, in compliance with European medical device regulations.
China holds a 48.9% share in the East Asia market in 2021 and is projected to grow at a CAGR rate of 4.1% during the forecast period. The growth of the transcutaneous monitors market in the country is attributed to the rising wave of automation and robotic assistive devices in the region of East Asia, with China as the prime contributor in the development industry for robotic devices for various intended uses, including transcutaneous monitors for patient monitoring.
In 2021, Japan held a 43.0% share in the East Asia transcutaneous monitors market and is projected to expand at a CAGR of 4.3% from 2022 to 2029. This growth is a consequence of the digitalization wave which entered the Japanese market, especially after the advent of the COVID-19 pandemic. The adoption of non-invasive methods of monitoring has led to the emergence of novel developments in the Japanese transcutaneous monitors market.
Multichannel transcutaneous monitors project lucrative growth at a CAGR of 4.4% till the end of the forecast period, with a market share of over 92.9% in 2021. The multichannel transcutaneous monitors propose a wide array of diagnostic and patient monitoring solutions owing to the incorporation of several sensor-based systems associated with a range of indications that require basic patient monitoring parameters.
Hospitals hold a revenue share of 65.1% in 2021 and are projected to hold a share over the forecast period with the estimation being 67.1%. Patient monitoring through transcutaneous monitors has advanced in terms of data projection and has provided aid to physicians in reducing risks to the patients by acting on insights related to patient health displayed on the transcutaneous monitors. This is an efficient method to provide emergency care to patients without wasting time and error in the management of critically ill patients. Hence, the hospital setup is a dominant end user in the transcutaneous monitors market.
Companies in the transcutaneous monitors market are mainly focusing on advancements in the multichannel transcutaneous monitors over the traditional monitors and the key players are launching multichannel monitors to gain revenue traction.
Strategic collaborations, acquisitions, expansion, channel type launches, agreements, and research sponsorship are the key strategies adopted by manufacturers to increase the transcutaneous monitor's sales in different geographies.
Similarly, recent developments related to companies manufacturing transcutaneous monitors have been tracked by the team at Future Market Insights, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | US$ Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, United Kingdom, France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Thailand, Australia, New Zealand, and GCC Countries, South Africa, Turkey |
| Key Market Segments Covered | Channel Type, End User, and Region |
| Key Companies Profiled | Radiometer Medical Aps; SenTec AG; Perimed AB; Philips Healthcare; GE Healthcare; Criticare Technologies, Inc.; Hill-Rom Services Inc.; Medtronic; Masimo |
| Pricing | Available upon Request |
The global transcutaneous monitors market is worth US$ 385.1 Million in 2021 and is set to expand 1.3X over the next seven years.
The transcutaneous monitors market is expected to reach US$ 540.1 Million by the end of 2029, with sales revenue expected to register a 4.3% CAGR.
The usage of temperature-sensitive monitors for neonates monitors with longer battery life for longer standby time and monitors with automatic sensor calibration capacity are some of the key trends being witnessed in this marketplace.
The USA, China, Japan, India, and Germany are expected to drive demand for the transcutaneous monitors market.
North America is one of the key markets for transcutaneous monitors, with the USA expected to account for nearly 91.6% of the North American market during the forecast period.
Demand for transcutaneous monitors in Europe is expected to register a growth of 2.4% over the next seven years.
The USA, Japan, and China are key producers of transcutaneous monitors.
Radiometer Medical Aps, SenTec AG, Perimed AB, Philips Healthcare, GE Healthcare, Criticare Technologies, Inc., Hill-Rom Services Inc., Medtronic, and Masimo are the key exporters of the transcutaneous monitors market.
1. Executive Summary | Transcutaneous Monitors Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Context
3.1. Product Adoption/ Usage Analysis
3.2. Regulatory Scenario
3.3. Key Strategies by Leading Manufacturers
4. Global Market - Pricing Analysis
4.1. Regional Pricing Analysis By Channel Type
4.2. Global Average Pricing Analysis Benchmark
5. Global Market Value (US$ Million) Analysis 2014 to 2021 and Forecast, 2022 to 2029
5.1. Historical Market Value (US$ Million) Analysis, 2014 to 2021
5.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2029
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Market Background
6.1. Macro-Economic Factors
6.1.1. Global GDP Growth Outlook
6.2. Forecast Factors - Relevance & Impact
6.2.1. Technological Advancement
6.2.2. Growing number of diagnosed population with chronic diseases
6.2.3. Increasing prevalence of traumas and cancers
6.2.4. Cost of Transcutaneous Monitors
6.3. Market Dynamics
6.3.1. Drivers
6.3.2. Restraints
6.3.3. Opportunity Analysis
7. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Channel Type
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Million) & Volume (Million Units) Analysis By Channel Type, 2014 to 2021
7.3. Current and Future Market Size (US$ Million) & Volume (Million Units) Analysis and Forecast By Channel Type, 2022 to 2029
7.3.1. Single Channel
7.3.2. Multi-Channel
7.4. Market Attractiveness Analysis By Channel Type
8. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by End User
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By End User, 2014 to 2021
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By End User, 2022 to 2029
8.3.1. Hospitals
8.3.2. Ambulatory Surgical Centers
8.3.3. Diagnostic Centers
8.3.4. Home Care Settings
8.4. Market Attractiveness Analysis By End User
9. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Region
9.1. Introduction
9.2. Historical Market Size (US$ Million) & Volume (Million Units) Analysis By Region, 2014 to 2021
9.3. Current Market Size (US$ Million) & Volume (Million Units) Analysis and Forecast By Region, 2022 to 2029
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. East Asia
9.3.5. South Asia
9.3.6. Oceania
9.3.7. Middle East and Africa (MEA)
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2014 to 2021 and Forecast 2022 to 2029
10.1. Introduction
10.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
10.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
10.3.1. By Country
10.3.1.1. USA
10.3.1.2. Canada
10.3.2. By Channel Type
10.3.3. By End User
10.4. Market Attractiveness Analysis
10.5. Key Market Participants - Intensity Mapping
10.6. Drivers and Restraints - Impact Analysis
11. Latin America Market Analysis 2014 to 2021 and Forecast 2022 to 2029
11.1. Introduction
11.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
11.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
11.3.1. By Country
11.3.1.1. Brazil
11.3.1.2. Mexico
11.3.1.3. Argentina
11.3.1.4. Rest of Latin America
11.3.2. By Channel Type
11.3.3. By End User
11.4. Market Attractiveness Analysis
11.5. Key Market Participants - Intensity Mapping
11.6. Drivers and Restraints - Impact Analysis
12. Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029
12.1. Introduction
12.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
12.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
12.3.1. By Country
12.3.1.1. Germany
12.3.1.2. Italy
12.3.1.3. France
12.3.1.4. United Kingdom
12.3.1.5. Spain
12.3.1.6. Russia
12.3.1.7. Rest of Europe
12.3.2. By Channel Type
12.3.3. By End User
12.4. Market Attractiveness Analysis
12.5. Key Market Participants - Intensity Mapping
12.6. Drivers and Restraints - Impact Analysis
13. South Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029
13.1. Introduction
13.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
13.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
13.3.1. By Country
13.3.1.1. India
13.3.1.2. Thailand
13.3.1.3. Indonesia
13.3.1.4. Malaysia
13.3.1.5. Rest of South Asia
13.3.2. By Channel Type
13.3.3. By End User
13.4. Market Attractiveness Analysis
13.5. Key Market Participants - Intensity Mapping
13.6. Drivers and Restraints - Impact Analysis
14. East Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029
14.1. Introduction
14.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
14.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
14.3.1. By Country
14.3.1.1. China
14.3.1.2. Japan
14.3.1.3. South Korea
14.3.2. By Channel Type
14.3.3. By End User
14.4. Market Attractiveness Analysis
14.5. Key Market Participants - Intensity Mapping
14.6. Drivers and Restraints - Impact Analysis
15. Oceania Market Analysis 2014 to 2021 and Forecast 2022 to 2029
15.1. Introduction
15.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
15.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
15.3.1. By Country
15.3.1.1. Australia
15.3.1.2. New Zealand
15.3.2. By Channel Type
15.3.3. By End User
15.4. Market Attractiveness Analysis
15.5. Key Market Participants - Intensity Mapping
15.6. Drivers and Restraints - Impact Analysis
16. Middle East and Africa Market Analysis 2014 to 2021 and Forecast 2022 to 2029
16.1. Introduction
16.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
16.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
16.3.1. By Country
16.3.1.1. GCC Countries
16.3.1.2. Turkey
16.3.1.3. South Africa
16.3.1.4. Rest of Middle East and Africa
16.3.2. By Channel Type
16.3.3. By End User
16.4. Market Attractiveness Analysis
16.5. Key Market Participants - Intensity Mapping
16.6. Drivers and Restraints - Impact Analysis
17. Emerging Countries Market Analysis 2014 to 2018 and Forecast 2019 to 2029
17.1. Introduction
17.1.1. Market Value Proportion Analysis, By Key Countries
17.1.2. Global Vs. Country Growth Comparison
17.2. China Market Analysis
17.2.1. Introduction
17.2.2. Market Value Proportion Analysis by Market Taxonomy
17.2.3. Market Value (US$ Million) Analysis and Forecast by Market Taxonomy
17.2.4. By Channel Type
17.2.5. By End User
17.3. India Market Analysis
17.3.1. Introduction
17.3.2. Market Value Proportion Analysis by Market Taxonomy
17.3.3. Market Value (US$ Million) Analysis and Forecast by Market Taxonomy
17.3.4. By Channel Type
17.3.5. By End User
17.4. Brazil Market Analysis
17.4.1. Introduction
17.4.2. Market Value Proportion Analysis by Market Taxonomy
17.4.3. Market Value (US$ Million) Analysis and Forecast by Market Taxonomy
17.4.4. By Channel Type
17.4.5. By End User
18. Market Structure Analysis
18.1. Market Analysis by Tier of Companies
18.2. Market Share Analysis of Top Players
18.3. Market Presence Analysis
18.3.1. By Regional footprint of Players
18.3.2. Channel Foot Print by Players
19. Competition Analysis
19.1. Competition Dashboard
19.2. Competition Deep Dive
19.2.1. Radiometer Medical Aps
19.2.1.1. Overview
19.2.1.2. Analyst Commentary
19.2.1.3. Channel Type Portfolio
19.2.1.4. Profitability by Market Segments
19.2.1.5. Sales Footprint
19.2.1.6. Key Developments
19.2.1.7. Strategy Overview
19.2.1.7.1. Marketing Strategy
19.2.1.7.2. Channel Type Strategy
19.2.1.7.3. Channel Strategy
19.2.2. SenTec AG
19.2.2.1. Overview
19.2.2.2. Analyst Commentary
19.2.2.3. Channel Type Portfolio
19.2.2.4. Profitability by Market Segments
19.2.2.5. Sales Footprint
19.2.2.6. Key Developments
19.2.2.7. Strategy Overview
19.2.2.7.1. Marketing Strategy
19.2.2.7.2. Channel Type Strategy
19.2.2.7.3. Channel Strategy
19.2.3. Perimed AB
19.2.3.1. Overview
19.2.3.2. Analyst Commentary
19.2.3.3. Channel Type Portfolio
19.2.3.4. Profitability by Market Segments
19.2.3.5. Sales Footprint
19.2.3.6. Key Developments
19.2.3.7. Strategy Overview
19.2.3.7.1. Marketing Strategy
19.2.3.7.2. Channel Type Strategy
19.2.3.7.3. Channel Strategy
19.2.4. Philips Healthcare
19.2.4.1. Overview
19.2.4.2. Analyst Commentary
19.2.4.3. Channel Type Portfolio
19.2.4.4. Profitability by Market Segments
19.2.4.5. Sales Footprint
19.2.4.6. Key Developments
19.2.4.7. Strategy Overview
19.2.4.7.1. Marketing Strategy
19.2.4.7.2. Channel Type Strategy
19.2.4.7.3. Channel Strategy
19.2.5. Criticare Technologies, Inc.
19.2.5.1. Overview
19.2.5.2. Analyst Commentary
19.2.5.3. Channel Type Portfolio
19.2.5.4. Profitability by Market Segments
19.2.5.5. Sales Footprint
19.2.5.6. Key Developments
19.2.5.7. Strategy Overview
19.2.5.7.1. Marketing Strategy
19.2.5.7.2. Channel Type Strategy
19.2.5.7.3. Channel Strategy
19.2.6. Hill Rom Services Inc.
19.2.6.1. Overview
19.2.6.2. Analyst Commentary
19.2.6.3. Channel Type Portfolio
19.2.6.4. Profitability by Market Segments
19.2.6.5. Sales Footprint
19.2.6.6. Key Developments
19.2.6.7. Strategy Overview
19.2.6.7.1. Marketing Strategy
19.2.6.7.2. Channel Type Strategy
19.2.6.7.3. Channel Strategy
19.2.7. GE Healthcare
19.2.7.1. Overview
19.2.7.2. Analyst Commentary
19.2.7.3. Channel Type Portfolio
19.2.7.4. Profitability by Market Segments
19.2.7.5. Sales Footprint
19.2.7.6. Key Developments
19.2.7.7. Strategy Overview
19.2.7.7.1. Marketing Strategy
19.2.7.7.2. Channel Type Strategy
19.2.7.7.3. Channel Strategy
19.2.8. Medtronic
19.2.8.1. Overview
19.2.8.2. Analyst Commentary
19.2.8.3. Channel Type Portfolio
19.2.8.4. Profitability by Market Segments
19.2.8.5. Sales Footprint
19.2.8.6. Key Developments
19.2.8.7. Strategy Overview
19.2.8.7.1. Marketing Strategy
19.2.8.7.2. Channel Type Strategy
19.2.8.7.3. Channel Strategy
19.2.9. Masimo
19.2.9.1. Overview
19.2.9.2. Analyst Commentary
19.2.9.3. Channel Type Portfolio
19.2.9.4. Profitability by Market Segments
19.2.9.5. Sales Footprint
19.2.9.6. Key Developments
19.2.9.7. Strategy Overview
19.2.9.7.1. Marketing Strategy
19.2.9.7.2. Channel Type Strategy
19.2.9.7.3. Channel Strategy
20. Assumptions and Acronyms Used
21. Research Methodology
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Transcutaneous Monitors Market
