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Global Digital Patient Monitoring Devices Market Size, Share: By Product: Diagnostic Monitoring Devices, Therapeutic Monitoring Devices; By Monitoring Type: Wireless Sensor Technology, mHealth, Telehealth, Wearable Devices, Remote Patient Monitoring; Regional Analysis; Market Dynamics; Supplier Landscape; 2024-2032
Global Digital Patient Monitoring Devices Market Size
The global digital patient monitoring devices market was valued at USD 119.7 billion in 2023, driven by increasing adoption of digitalization across the globe. The market is expected to grow at a CAGR of 19.76% during the forecast period of 2024-2032, with the values likely to reach USD 606.4 billion by 2032.
Global Digital Patient Monitoring Devices Market Outlook
- The demand for digital patient monitoring devices is on the rise, intended to provide personalized healthcare solutions and at home consultation with physicians.
- One of the major market trends includes rising mergers between key companies to provide optimized solutions for patients.
- Asia Pacific region is likely to experience fastest growth in the forecast period.
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Global Digital Patient Monitoring Devices Market Overview
Digital patient monitoring devices are tools that enable continuous monitoring of patient health metrics outside of traditional clinical settings. These devices are used to measure, distribute, record, and display combinations of biometric values such as blood oxygen saturation levels (SPO2), heart rate, blood pressure, and temperature. These devices, which include implanted devices, home monitoring equipment, and wearables.
Global Digital Patient Monitoring Devices Market Growth Drivers
Increasing Development of Products/Services for Patient care to Affect the Market Landscape Significantly
With rising cases of chronic diseases, continuous monitoring is required for better patient outcome. In April 2024, Medixine and Nonin Medical entered a strategic partnership to co-develop remote digital monitoring services for more patient-centric diagnosis of chronic conditions. The collaboration combines Medixine's expertise in healthcare communication solutions and Nonin Medical's pioneering work in non-invasive medical monitoring technologies. It can enable continuous, real-time data collection and analysis, enhancing the ability to diagnose and manage chronic diseases outside of traditional clinical settings.
Growth in Strategic Partnerships and Mergers to Meet Rising Digital Patient Monitoring Devices Market Demand
In April 2024, Philips partnered with smartQare to automate and simplify the process of continuous patient monitoring in and out of the hospital to improve patient care and operational efficiency. The partnership involves the strength of both the companies, such as Philips' expertise in healthcare technology and smartQare's innovative monitoring solutions. The continuous care is crucial for patients with chronic conditions.
Global Digital Patient Monitoring Devices Market Trends
The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:
| Trend | Impact |
| Adoption of Artificial Intelligence (AI) and Machine Learning (ML) | Integration of artificial intelligence (AI) and machine learning (ML) in digital patient monitoring devices enhances the device’s ability to analyze vast amounts of health data more efficiently and accurately. Furthermore, AI-enabled devices can monitor for anomalies that might be overlooked by human eye. AI and ML can also aid in tailoring treatment plans of individual patients based on their unique health data. |
| Remote Patient Monitoring (RPM) | RPM during COVID-19 underscored the importance of managing health crises while maintaining social distancing. Real-time monitoring and quick response to changes in a patient’s condition is a crucial factor in management of acute cases, where RPM can be quite helpful. This device reduces frequency of hospital visits. |
| Consumer-driven Healthcare | With increased awareness about health among public, there is a shift towards digital platforms and apps, that allow health information to be understandable and accessible. Devices that are adaptable in daily life are in great demand. It includes devices like smartwatches that can monitor heart rate and activity level. This drives the industry to be more transparent and competitive in product offering. |
| Wearable Technology | The advancement in wearable technology has led to the development of devices that not only track basic health metrics but also provide detailed analyses like electrodermal activity, stress levels, and even electrocardiograms. It also provides features like sleep tracking, and even blood oxygen levels, making them invaluable for both general wellness and chronic disease management. |
Global Digital Patient Monitoring Devices Market Segmentation
Market Breakup by Product
- Diagnostic Monitoring Devices
- Therapeutic Monitoring Devices
Market Breakup by Monitoring Type
- Wireless Sensor Technology
- mHealth
- Telehealth
- Wearable Devices
- Remote Patient Monitoring
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Global Digital Patient Monitoring Devices Market Share
Market Segmentation Based on Products is Anticipated to Witness Substantial Growth
Based on product, the market segmentation includes diagnostic monitoring devices and therapeutic monitoring devices. The diagnostic monitoring devices consists of blood glucose monitors, blood pressure monitors, and multi-parameter monitors which are essential for the early detection and management of health conditions. The demand is driven by the increasing prevalence of chronic diseases as hypertension and diabetes along with growing emphasis of preventive healthcare.
Alternatively, therapeutic monitoring devices like insulin pumps and respiratory therapy devices are vital for disease management. With rising prevalence of personalized medices, these devices are being increasingly adopted. The growth is fueled by the enhancement in device’s accuracy, alignment with mobile health applications, and user-friendliness which will expand the digital patient monitoring devices market.
Wireless Sensor Technologies Expected to Lead the Market Share
Based on monitoring type, the market constitutes wireless sensor technology, mHealth, telehealth, wearable devices, and remote patient monitoring. There has been a surge in this segment after COVID-19 as it provides the ease of consultation with a physician. Wireless sensor technology is gaining popularity as it improves patient comfort and mobility essential in long term health monitoring along with real time monitoring without constraints. The adoption of IoT (internet of things) and AI (artificial intelligence) aids in analyzing vast amount of data leading to personalized and proactive healthcare solutions.
mHealth and telehealth allows the patients and physicians to interact via mobile devices enabling diagnosis and treatment while reducing visits to clinics or hospitals. This segment is booming because of the increased penetration of mobile phones with internet services.
Global Digital Patient Monitoring Devices Market Analysis by Region
Regionally, the market report offers an insight into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is leading the market share, driven by adoption of advanced technologies, developed healthcare infrastructure and increased healthcare expenditure.
Asia Pacific region is the fastest growing region, which can be attributed to rapid urbanization, growing middle class population with increased health awareness along with investments in healthcare. With the increase in usage of internet and smartphones in the region and the growing digitalization, wearable technology and mHealth applications are a significant part in the growth of digital patient monitoring devices market.
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Leading Players in the Global Digital Patient Monitoring Devices Market
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Abbott Laboratories
- AT&T Inc.
- Athenahealth Inc.
- F. Hoffmann-La Roche AG
- General Electric Company
- Hill-Rom Holdings Inc.
- Johnson & Johnson
- Koninklijke Philips N.V
- Medtronic plc
- Nihon Kohden Corporation
- OMRON Corporation
- ResMed
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Monitoring Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
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Key Questions Answered in the Global Digital Patient Monitoring Devices Market Report
- What was the global digital patient monitoring devices market value in 2023?
- What is the global digital patient monitoring devices market forecast outlook for 2024-2032?
- What are the regional markets covered in the EMR report?
- What is market segmentation based on product?
- What is the market breakup based on monitoring type?
- Who are the major end users in the market?
- Where does digital patient monitoring devices find its application?
- What are the major factors aiding the global digital patient monitoring devices market demand?
- How has the market performed so far and how is it anticipated to perform in the coming years?
- What are the market's major drivers, opportunities, and restraints?
- Which regional market is expected to lead the market share in the forecast period?
- Which country is expected to experience expedited growth during the forecast period?
- What are the major global digital patient monitoring devices market trends?
- How does the rise in the smartphone and internet usage impact the market size?
- What product will dominate the market share?
- Which monitoring type is expected to have a high market value in the coming years?
- Who are the key players involved in the digital patient monitoring devices market?
- What is patent landscape of the market?
- What are the current unmet needs and challenges in the market?
- How are partnerships, collaborations, and mergers & acquisitions among the key market players shaping the market dynamics?
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Digital Patient Monitoring Devices Market Overview
3.1 Global Digital Patient Monitoring Devices Market Historical Value (2017-2023)
3.2 Global Digital Patient Monitoring Devices Market Forecast Value (2024-2032)
4 Global Digital Patient Monitoring Devices Market Landscape*
4.1 Global Digital Patient Monitoring Devices: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Digital Patient Monitoring Devices: Product Landscape
4.2.1 Analysis by Product
4.2.2 Analysis by Monitoring Type
5 Global Digital Patient Monitoring Devices Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.2.1 Strengths
5.2.2 Weaknesses
5.2.3 Opportunities
5.2.4 Threats
5.3 Porter’s Five Forces Model
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Degree of Rivalry
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Digital Patient Monitoring Devices Market Segmentation (2017-2032)
6.1 Global Digital Patient Monitoring Devices Market (2017-2032) by Product
6.1.1 Market Overview
6.1.2 Diagnostic Monitoring Devices
6.1.3 Therapeutic Monitoring Devices
6.2 Global Digital Patient Monitoring Devices Market (2017-2032) by Monitoring Type
6.2.1 Market Overview
6.2.2 Wireless Sensor Technology
6.2.3 mHealth
6.2.4 Telehealth
6.2.5 Wearable Devices
6.2.6 Remote Patient Monitoring
6.3 Global Digital Patient Monitoring Devices Market (2017-2032) by Region
6.3.1 Market Overview
6.3.2 North America
6.3.3 Europe
6.3.4 Asia Pacific
6.3.5 Latin America
6.3.6 Middle East and Africa
7 North America Digital Patient Monitoring Devices Market (2017-2032)
7.1 North America Digital Patient Monitoring Devices Market (2017-2032) by Product
7.1.1 Market Overview
7.1.2 Diagnostic Monitoring Devices
7.1.3 Therapeutic Monitoring Devices
7.2 North America Digital Patient Monitoring Devices Market (2017-2032) by Monitoring Type
7.2.1 Market Overview
7.2.2 Wireless Sensor Technology
7.2.3 mHealth
7.2.4 Telehealth
7.2.5 Wearable Devices
7.2.6 Remote Patient Monitoring
7.3 North America Digital Patient Monitoring Devices Market (2017-2032) by Country
7.3.1 United States of America
7.3.2 Canada
8 Europe Digital Patient Monitoring Devices Market (2017-2032)
8.1 Europe Digital Patient Monitoring Devices Market (2017-2032) by Product
8.1.1 Market Overview
8.1.2 Diagnostic Monitoring Devices
8.1.3 Therapeutic Monitoring Devices
8.2 Europe Digital Patient Monitoring Devices Market (2017-2032) by Monitoring Type
8.2.1 Market Overview
8.2.2 Wireless Sensor Technology
8.2.3 mHealth
8.2.4 Telehealth
8.2.5 Wearable Devices
8.2.6 Remote Patient Monitoring
8.3 Europe Digital Patient Monitoring Devices Market (2017-2032) by Country
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Others
9 Asia Pacific Digital Patient Monitoring Devices Market (2017-2032)
9.1 Asia Pacific Digital Patient Monitoring Devices Market (2017-2032) by Product
9.1.1 Market Overview
9.1.2 Diagnostic Monitoring Devices
9.1.3 Therapeutic Monitoring Devices
9.2 Asia Pacific Digital Patient Monitoring Devices Market (2017-2032) by Monitoring Type
9.2.1 Market Overview
9.2.2 Wireless Sensor Technology
9.2.3 mHealth
9.2.4 Telehealth
9.2.5 Wearable Devices
9.2.6 Remote Patient Monitoring
9.3 Asia Pacific Digital Patient Monitoring Devices Market (2017-2032) by Country
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 ASEAN
9.3.5 Australia
9.3.6 Others
10 Latin America Digital Patient Monitoring Devices Market (2017-2032)
10.1 Latin America Digital Patient Monitoring Devices Market (2017-2032) by Product
10.1.1 Market Overview
10.1.2 Diagnostic Monitoring Devices
10.1.3 Therapeutic Monitoring Devices
10.2 Latin America Digital Patient Monitoring Devices Market (2017-2032) by Monitoring Type
10.2.1 Market Overview
10.2.2 Wireless Sensor Technology
10.2.3 mHealth
10.2.4 Telehealth
10.2.5 Wearable Devices
10.2.6 Remote Patient Monitoring
10.3 Latin America Digital Patient Monitoring Devices Market (2017-2032) by Country
10.3.1 Brazil
10.3.2 Argentina
10.3.3 Mexico
10.3.4 Others
11 Middle East and Africa Digital Patient Monitoring Devices Market (2017-2032)
11.1 Middle East and Africa Digital Patient Monitoring Devices Market (2017-2032) by Product
11.1.1 Market Overview
11.1.2 Diagnostic Monitoring Devices
11.1.3 Therapeutic Monitoring Devices
11.2 Middle East and Africa Digital Patient Monitoring Devices Market (2017-2032) by Monitoring Type
11.2.1 Market Overview
11.2.2 Wireless Sensor Technology
11.2.3 mHealth
11.2.4 Telehealth
11.2.5 Wearable Devices
11.2.6 Remote Patient Monitoring
11.3 Middle East and Africa Digital Patient Monitoring Devices Market (2017-2032) by Country
11.3.1 Saudi Arabia
11.3.2 United Arab Emirates
11.3.3 Nigeria
11.3.4 South Africa
11.3.5 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication Year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by Year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by Departments
14.7 Analysis by Recipient Organization
15 Funding and Investment Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Supplier Landscape
17.1 Market Share by Top 5 Companies
17.2 Abbott Laboratories
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 AT&T Inc.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Athenahealth Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 F. Hoffmann-La Roche AG
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 General Electric Company
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Hill-Rom Holdings Inc.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Johnson & Johnson
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Koninklijke Philips N.V
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications Mergers and Acquisitions
17.9.6 Certifications
17.10 Medtronic plc
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Nihon Kohden Corporation
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 OMRON Corporation
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 ResMed
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
18 Global Digital Patient Monitoring Devices Market – Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
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