France Patient Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The France Patient Monitoring Market is expected to register a CAGR of nearly 7.1% during the forecast period (2022-2027).
COVID-19 has dramatically impacted the patient monitoring market in France due to the rise in the adoption of these devices in patients during the pandemic. For instance, according to the study titled 'Remote monitoring of patients with heart failure during the first national lockdown for COVID-19 in France' in April 2021, the lockdown restrictions significantly reduced healthcare utilization but had no significant impact on the clinical condition of heart failure patients who were being monitored remotely using multiple parameters. This might has led to increased adoption of patient monitoring devices during the pandemic for monitoring the cardiac activities of heart failure patients, driving the market growth.
The market is driven due to factors such as the rising burden of chronic diseases and technological advancements in the products, among others.
Rising initiatives from the Government of France on digitalization will lead to drive the market growth due to the development of technologically advanced patient monitoring devices in this region, driving the market growth. For instance, in October 2021, the Government of France has an investment plan of EUR 650 million to accelerate the national digital health strategy, as part of the Health Innovation 2030 plan. Such initiatives will provide impetus to the companies that are into digital patient monitories devices, thereby lead to the launch of innovative market products in the French market, driving the market growth.
According to the news published in January 2022, Resilience, a French health tech business with a focus on therapeutic follow-up and remote monitoring of cancer patients, has secured EUR 40 million in Series A funding. With the money, the platform will be able to speed up the introduction of its CE Class IIa medical devices into healthcare facilities and expand the functionality of its patient-focused applications. Such initiatives from the start up companies on patient monitoring devcies will lead to rise in launch of patient monitoring devices in France, driving the market growth.
In addition, the rising aging population has resulted in an increased demand for hospital equipment and supplies, thereby contributing to the growth of France patient monitoring market. For instance, according to the World Data 2022, in 2021, population aged 65 years and above for France was 14.2 million compared to 13.9 million in 2020. Therefore, the rise in population in France will lead to increased adoption of patient monitoring devices, as the elderly are more prone to infections and diseases, driving the market growth.
Therefore, the rise in technological advancements and digitalization in France, emerging startups in patient monitoring and their fund raising, rise in geriatric population coupled with the chronic diseases are expected to drive the market growth. However, some of the factors such as high cost of technology is expected to hinder the market growth.
Key Market TrendsNeurology is Expected to Show a Healthy Growth in the France Patient Monitoring MarketPatient monitoring systems help in monitoring the neurological functions of critically ill patients or surgical patients. The rising burden of neurological disorders in the country is expected to drive market growth in this segment.
According to the Alzheimer's Association 2022, in France, more than 1,175,000 people are living with Alzheimer’s disease, and more than 200,000 people have diagnosed with Alzheimer’s or another dementia each year. Such a huge number of Alzheimer's patients in France will lead to the adoption of patient monitoring devices to track neurological disease conditions, driving market growth.
Furthermore, rising initiatives from the key market players in France will lead to increased adoption of patient monitoring devices for neurology, driving market growth. For instance, in January 2021, Royal Philips entered a five-year technology and innovation partnership with France-based Rennes University Hospital supporting diagnostic, interventional imaging, and patient monitoring and management. This will help in enhancing clinical pathways and patient experience, particularly for neuro-radiology departments and intensive care units. Such partnerships of key market players with the hospitals in France will lead to increased adoption of patient monitoring devices in the neurology segment, driving the market growth.
In addition, in March 2022, Braintale, a French MedTech, launched the brainTale-care platform with its modules brainQuant, dedicated to white matter quantification, and brainScore-coma, offering the prediction of coma recovery. This will provide resuscitators and neurologists with innovative, non-invasive, clinically validated solutions to improve diagnosis, monitoring, and prediction of neurological diseases and disorders evolution and thus contribute significantly to the decision-making process to optimize patient care. The launch of such platforms in neurology patient monitoring will lead to a rise in the adoption of neurology patient monitoring devices in France, driving this segment's growth.
Therefore, owing to the above-mentioned factors, the neurology segment is expected to drive the France patient monitoring market.
Competitive LandscapeThe France patient monitoring market is moderately competitive. The factors responsible for the growth of this market include rising technological advancements in the products, rising digitalization in France, and healthcare reimbursements by the French Government, key initiatives adopted by the market players, among others. Some of the major players in the France Patient Monitoring market are Draegerwerk AG, GE Healthcare, Koninklijke Philips NV, Kalstein France, Medtronic Plc, Kaptalia, Hill Rom Holdings (Welch Allyn), Siemens Healthineers and Beckton, Dickinson & Company, among others.
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