Summary

North America has a large and affluent population with high purchasing power. The significant market size creates opportunities for companies to scale and generate revenue. Additionally, the willingness and ability of consumers and healthcare providers to invest in advanced testing and monitoring devices contribute to market leadership. North America generally has a stable and well-defined regulatory environment. While regulatory compliance can be challenging, it also provides a clear framework for companies to bring new products to market. This predictability can attract investments and foster innovation. Companies in North America often allocate substantial resources to research and development. This commitment to innovation allows them to create cutting-edge technologies and maintain a competitive advantage in the global market. North American companies frequently engage in collaborations and partnerships with research institutions, universities, and other industry players. This collaborative approach fosters innovation and accelerates the development and commercialization of new testing, screening, and monitoring devices. North American healthcare systems often embrace new technologies quickly. The willingness of healthcare providers and institutions to adopt the latest advancements in testing and monitoring contributes to the region's leadership. The culture of early adoption encourages innovation and drives market growth. The high level of healthcare spending in North America, coupled with extensive insurance coverage, provides individuals and healthcare institutions with the financial means to invest in advanced testing and monitoring solutions. This contributes to a robust market for such devices. North America is home to many major pharmaceutical companies that often diversify into diagnostics and monitoring technologies. The integration of pharmaceutical and diagnostic capabilities allows companies to offer comprehensive solutions, further strengthening their position in the market. High levels of health awareness among consumers in North America contribute to the demand for preventive healthcare solutions. There is a growing trend of individuals taking a proactive approach to health, leading to increased demand for testing and monitoring devices for personal and professional use.

According to the research report, "North America Testing, Screening, and Monitoring (TSM) Market Outlook, 2028," published by Bonafide Research, the market is anticipated to grow at a 7% CAGR by 2023–28. The adoption of Remote Patient Monitoring (RPM) devices has been on the rise. RPM enables healthcare providers to monitor patients' vital signs and health metrics remotely, enhancing patient care and reducing the need for frequent in-person visits. This trend aligns with the broader shift towards digital health solutions. The integration of AI and data analytics in testing and monitoring devices has become more prominent. These technologies enhance the interpretation of data, assist in diagnostics, and improve the overall efficiency of healthcare processes. Wearable devices for health monitoring have seen increased adoption. These include smartwatches and fitness trackers that monitor parameters such as heart rate, sleep patterns, and physical activity. The integration of health-tracking features into consumer wearables contributes to a more proactive approach to personal health. The expansion of telehealth services has been accelerated, driven in part by the COVID-19 pandemic. TSM devices that support remote consultations and monitoring have become essential components of telehealth solutions, offering patients greater accessibility to healthcare services. Home-based testing kits for various health conditions have become more prevalent. Consumers are increasingly interested in self-testing options that provide convenience and privacy, contributing to the growth of the home-based testing market. The prevalence of chronic diseases such as diabetes, cardiovascular conditions, and respiratory disorders has led to an increased focus on TSM devices for chronic disease management. Continuous monitoring solutions that enable patients to manage their conditions more effectively and reduce hospital admissions are gaining importance.

Based on country the market is categorized into United States, Canada and Mexico. In the United States, the market is characterized by a robust ecosystem of healthcare innovation, cutting-edge technologies, and a substantial emphasis on research and development. The U.S. healthcare industry's early adoption of emerging technologies, coupled with a well-established regulatory framework led by the Food and Drug Administration (FDA), positions the country at the forefront of TSM device development and deployment. The expansive healthcare infrastructure, comprising leading medical institutions, pharmaceutical companies, and a culture of embracing digital health solutions, fosters a conducive environment for the growth of TSM technologies. Additionally, the United States' large and affluent population, coupled with high healthcare spending and insurance coverage, creates a significant market for testing, screening, and monitoring devices, with a particular focus on cutting-edge solutions such as remote patient monitoring, wearables, and point-of-care testing. On the other hand, Mexico contributes unique dynamics to the North America TSM Devices market. While Mexico's healthcare sector is rapidly evolving and modernizing, it faces distinct challenges, including variations in access to healthcare services and economic disparities. Despite these challenges, there is a growing awareness of the importance of preventive healthcare, which is driving the adoption of certain testing and monitoring devices. Mexico's market is influenced by factors such as government initiatives to improve healthcare infrastructure, increasing healthcare investments, and a rising focus on public health. The market in Mexico also reflects a blend of traditional healthcare practices and the integration of modern TSM technologies.

Based on product the market is categorized into Blood Glucose Monitor, Heart Rate Monitors, Multi Parameter Patient Monitoring Device, Drug Alcohol Screening Testing, ECG Devices and others. Diabetes is a widespread health concern, and its prevalence has been increasing globally, including in North America. Blood glucose monitoring is crucial for managing diabetes, allowing individuals to track their blood sugar levels and make informed decisions about medication, diet, and lifestyle. Sedentary lifestyles, poor dietary habits, and other lifestyle factors contribute to the increasing incidence of diseases such as Type 2 diabetes. This trend has likely driven the demand for blood glucose monitoring devices. Continuous advancements in technology have led to the development of more user-friendly and technologically sophisticated blood glucose monitoring devices. These innovations may include wireless connectivity, smartphone integration, and improved accuracy, making these devices more attractive to consumers. There has been a growing emphasis on patient empowerment and self-management of chronic conditions. Blood glucose monitors allow individuals to actively participate in managing their health, leading to better outcomes. The accessibility and affordability of blood glucose monitors, especially in comparison to some other TSM devices, might make them more widely adopted by individuals seeking cost-effective solutions for health monitoring. Blood glucose monitors are integral to comprehensive diabetes management. They provide real-time data that helps individuals and healthcare professionals make informed decisions about insulin dosage, dietary choices, and overall lifestyle modifications.

In terms of end user the market is segmented into Hospitals, Home and others. Hospitals typically have substantial budgets for healthcare technology and equipment. As the overall healthcare expenditure in North America increases, hospitals are likely to invest in advanced testing, screening, and monitoring devices to enhance patient care and outcomes. Hospitals experience a continuous influx of patients with diverse medical conditions. The need for monitoring and screening devices is high in hospital settings, where healthcare professionals require efficient and reliable tools to assess and manage patients' health. Hospitals deal with a wide range of medical cases, from acute to chronic conditions. Comprehensive monitoring devices that can cater to various health parameters are essential in a hospital setting to ensure the well-being of patients across different departments and specialties. TSM devices used in hospitals often need to integrate seamlessly with Hospital Information Systems for efficient data management. Devices that can easily share data with electronic health records, laboratory information systems, and other hospital databases are favored for their interoperability. In addition based on indication the market is segmented into Cardiovascular Disorders & Hypertension, Diabetes, Pregnancy, Respiratory Diseases, Cancer, Movement Disorders, Hearing Disorders, Wound Care and Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV). Diabetes is a prevalent chronic condition in North America, affecting a substantial portion of the population. The increasing incidence of diabetes has created a robust demand for testing, screening, and monitoring devices to manage and control the disease. Increased awareness about the importance of early detection and management of diabetes has led to a higher rate of screening. Individuals are more proactive in monitoring their blood glucose levels, contributing to the demand for home-based and point-of-care testing devices. TSM devices for diabetes are often integrated with digital health platforms and mobile applications. This integration enables users to track and analyze their health data, receive insights, and share information with healthcare providers, fostering a more connected and proactive approach to diabetes management.

Companies covered in this report:

Abbott Laboratories, Koninklijke Philips N.V., Nihon Kohden Corporation, Siemens Healthineers, Mindray Medical International Limited, Medline Industries LP, Baxter International Inc., GE HealthCare Technologies, Inc., Omron Corporation, Beurer GmbH, Drägerwerk AG & Co. KGaA, Teledyne Technologies Incorporated

Considered in this report

• Geography: North America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• North America Testing, Screening, and Monitoring (TSM) market Outlook with its value and forecast along with its segments
• Country-wise Testing, Screening, and Monitoring (TSM) market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:

• United States
• Canada
• Mexico

By Product:

• Blood Glucose Monitor
• Heart Rate Monitors
• Multiparameter Patient Monitoring
• Drug Screening
• Electrocardiograph (ECG)
• Others (Blood Pressure Monitoring Devices, Pulse Oximeter, Patient Temperature Monitoring, Fetal Monitoring Devices, Others)

By End User:

• Hospitals
• Home
• Others

By Indication:

• Cardiovascular Disorders & Hypertension
• Diabetes
• Pregnancy
• Respiratory Diseases
• Cancer
• Movement Disorders
• Hearing Disorders
• Wound Care
• Other Indications

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Testing, Screening, and Monitoring (TSM) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.






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