The global digital patient monitoring devices market size reached US$ 128.0 Billion in 2023. Looking forward, the market is projected to reach US$ 715.9 Billion by 2032, exhibiting a growth rate (CAGR) of 21.08% during 2023-2032.
Digital patient monitoring devices refer to electronic instruments intended to monitor the patient's vital parameters, such as blood pressure, heart rate, temperature, pulse rate, and blood oxygen saturation levels (SPO2). Urine output, weight, temperature, respiratory, cardiac, neuromonitoring and remote patient are some of the commonly available types of digital patient monitoring devices.
Digital patient monitoring devices assist in delaying and preventing complications from the disease, reducing workload, saving time, reducing errors, improving communication, increasing patient engagement and control, and enhancing safety. As a result, they are extensively used in hospitals, clinics, ambulatory surgical centers (ASC), and home care settings.
Additionally, the increasing demand for various sensor-based wearable monitoring devices, such as continuous glucose monitors that help in tracking the patient's blood sugar levels on a real-time basis, is favoring the market growth. These gadgets transmit the recorded heath data electronically to medical practitioners through another integrated monitoring device, which, in turn, enables them to constantly keep a check on patient’s health, thus reducing the instances of developing serious illnesses. Other factors, including the increasing geriatric population, rising expenditure capacity of consumers, and widespread product demand across in-home care settings due to the sudden outbreak of coronavirus disease (COVID-19), are anticipated to drive the market toward growth.
2. What is the expected growth rate of the global digital patient monitoring devices market during 2024-2032?
3. What has been the impact of COVID-19 on the global digital patient monitoring devices market?
4. What are the key factors driving the global digital patient monitoring devices market?
5. What is the breakup of the global digital patient monitoring devices market based on the monitoring type?
6. What is the breakup of the global digital patient monitoring devices market based on the product?
7. What is the breakup of the global digital patient monitoring devices market based on end user?
8. What are the key regions in the global digital patient monitoring devices market?
9. Who are the key players/companies in the global digital patient monitoring devices market?
Digital patient monitoring devices refer to electronic instruments intended to monitor the patient's vital parameters, such as blood pressure, heart rate, temperature, pulse rate, and blood oxygen saturation levels (SPO2). Urine output, weight, temperature, respiratory, cardiac, neuromonitoring and remote patient are some of the commonly available types of digital patient monitoring devices.
Digital patient monitoring devices assist in delaying and preventing complications from the disease, reducing workload, saving time, reducing errors, improving communication, increasing patient engagement and control, and enhancing safety. As a result, they are extensively used in hospitals, clinics, ambulatory surgical centers (ASC), and home care settings.
Digital Patient Monitoring Devices Market Trends
Significant growth in the healthcare industry, the rising demand for continuous monitoring devices, and the increasing prevalence of chronic medical ailments, such as hypertension, asthma, blood pressure and diabetes, represent key factors majorly driving the digital patient monitoring devices market growth. Apart from this, various advancements in technology, such as the introduction of smart digital patient monitoring devices that assist in the quick analysis of common physiological parameters, are providing an impetus to the market growth.Additionally, the increasing demand for various sensor-based wearable monitoring devices, such as continuous glucose monitors that help in tracking the patient's blood sugar levels on a real-time basis, is favoring the market growth. These gadgets transmit the recorded heath data electronically to medical practitioners through another integrated monitoring device, which, in turn, enables them to constantly keep a check on patient’s health, thus reducing the instances of developing serious illnesses. Other factors, including the increasing geriatric population, rising expenditure capacity of consumers, and widespread product demand across in-home care settings due to the sudden outbreak of coronavirus disease (COVID-19), are anticipated to drive the market toward growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global digital patient monitoring devices market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on monitoring type, product and end user.Breakup by Monitoring Type:
- Wireless Sensor Technology
- mHealth
- Telehealth
- Wearable Devices
- Remote Patient Monitoring
Breakup by Product:
- Diagnostic Monitoring Devices
- Vital Sign Monitors
- Sleep Monitors
- Fetal Monitors
- Neuromonitors
- Others
- Therapeutic Monitoring Devices
- Insulin Monitors
- Respiratory Monitors
- Others
Breakup by End User:
- Hospitals
- Home Settings
- Ambulatory Surgical Centers (ASC)
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, AT&T Inc., Athenahealth Inc., F. Hoffmann-La Roche AG, General Electric Company, Hill-Rom Holdings Inc. (Baxter International Inc.), Johnson & Johnson, Koninklijke Philips N.V, Medtronic plc, Nihon Kohden Corporation, OMRON Corporation and ResMed.Key Questions Answered in This Report
1. What was the size of the global digital patient monitoring devices market in 2023?2. What is the expected growth rate of the global digital patient monitoring devices market during 2024-2032?
3. What has been the impact of COVID-19 on the global digital patient monitoring devices market?
4. What are the key factors driving the global digital patient monitoring devices market?
5. What is the breakup of the global digital patient monitoring devices market based on the monitoring type?
6. What is the breakup of the global digital patient monitoring devices market based on the product?
7. What is the breakup of the global digital patient monitoring devices market based on end user?
8. What are the key regions in the global digital patient monitoring devices market?
9. Who are the key players/companies in the global digital patient monitoring devices market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Digital Patient Monitoring Devices Market
6 Market Breakup by Monitoring Type
7 Market Breakup by Product
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- AT&T Inc.
- Athenahealth Inc.
- F. Hoffmann-La Roche AG
- General Electric Company
- Hill-Rom Holdings Inc. (Baxter International Inc.)
- Johnson & Johnson
- Koninklijke Philips N.V
- Medtronic plc
- Nihon Kohden Corporation
- OMRON Corporation
- ResMed.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 128 Billion |
| Forecasted Market Value ( USD | $ 715.9 Billion |
| Compound Annual Growth Rate | 21.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
