Market Trends of United Kingdom Patient Monitoring Industry
This section covers the major market trends shaping the UK Patient Monitoring Market according to our research experts:
Cardiac Monitoring Devices is expected to Hold Significant Share in the Market Over the Forecast Period
- Cardiac monitoring refers to continuous or intermittent monitoring of cardiovascular system activity with an assessment of the patient's condition relative to their cardiac rhythm. Additional monitoring components allow cardiovascular pressures and cardiac output to be monitored and displayed as required for patient diagnosis and treatment. Continuous cardiovascular and pulmonary monitoring allows for prompt identification and initiation of treatment. The increasing prevalence of heart disease in the country is one of the key factors in market growth. For instance, the BHF report released in July 2021 estimated that over 7.6 million people in the United Kingdom are affected by heart and circulation disorders. Additionally, nearly 6 million people in the United Kingdom have high blood pressure and are unaware of it, according to the Blood Pressure Association research from 2021. Thus, increasing CVDs are expected to increase market growth as CVD patients require constant monitoring to track key patient vitals, including heart rate, respiratory rate, and movement in real time.
- Additionally, government assistance in the form of grants is fostering industry expansion over time. For instance, the development of the CUOREMA project by the United Kingdom-based health technology business my mhealth and partners received a EUR 2.5 million Eurostars Grant in May 2021. The primary objective of the CUOREMA project is to develop an innovative, patient-centered cardiac rehabilitation support system. The project seeks to make use of the myHeart app's cardiac rehabilitation feature and include biofeedback, clever algorithms, and gamification elements. Thus, constant monitoring and providing optimum support to patients is expected to increase the adoption of such projects in the country which is expected to increase market growth during the forecast period.
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Neurology Segment is Expected to Grow at Highest CAGR in the Market Over Forecast Period
- Factors such as increasing neurological disorders and product launches in the country are expected to increase the adoption of neurological patient monitoring devices, thus increasing the market growth over the forecast period. For instance, according to the written evidence submitted by Parkinson's UK (CBP0020) published in September 2021, reported that every hour, two people in the United Kingdom are told they have Parkinson's. It also reported that with population growth and aging, it is estimated that by 2030, the number of people affected by Parkinson's disease will reach 172,000. Such a high burden of disease drives the demand for neuromonitoring devices, fueling segment growth in the country.
- Furthermore, as per the data updated by Alzheimer's Research UK data updated in 2022, there are 944,000 people currently living with dementia, and this number is estimated to increase to over 1 million by 2030 and 1.6 million by 2050. As per the source mentioned above, more than half (52%) of the United Kingdom's public knows someone diagnosed with dementia in 2021 and indicated an increase in cases since the past year. Product launches are another factor in market growth. For instance, in May 2022, the mjn-SERAS seizure monitoring device was launched in the United Kingdom. The device includes sensors to directly monitor electrical activity in the brain with artificial intelligence to warn of a seizure up to 3 minutes before an episode occurs. Thus, with such product launches, the market is expected to grow in the forecast period as such devices are expected to be adopted by patients suffering from seizures.
