The value of the global patient monitoring devices market was USD 43.73 billion in 2023, driven by the prevalence of chronic diseases, rising geriatric population, and technological advancements in monitoring devices across the globe. The market is expected to grow at a CAGR of 7.7% during the forecast period of 2024-2032 to reach value of USD 85.25 billion by 2032.
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The global patient monitoring devices market demand has been growing rapidly and is likely to continue growing in the forecast period as well. Factors like rapid increase in the geriatric population and a surge in prevalence of chronic diseases, including cancer, diabetes, cardiac diseases, and hypertension, among others, are invigorating the demand for established patient monitoring systems. In addition, with the advent of COVID-19, growing public and government investments in improving the healthcare system across the globe, are positively impacting the market growth.
Government spending on research and development (R&D) activities, coupled with innovations in product designs like sensor-based and digital monitoring systems, is fuelling the market growth. With the integration of technology as artificial intelligence (AI) and the Internet of Things (IoT) in patient monitoring, the system can record the patient’s vitality and send real-time updates, which enhances the productivity of the healthcare staff. Investments and innovations in manufacturing practices are further aiding the market growth of the market.
Patient monitoring devices refer to the process by which healthcare providers can monitor a patient’s health. For this, monitoring devices are used for continuous measurement of patient’s temperature, heart rate, blood pressure, blood-oxygen level, among other uses.
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Market Breakup by Devices Type
Market Breakup by Application
Market Breakup by End User
Market Breakup by Region
Patient Monitoring Devices Market Analysis
Patient monitoring devices are used to monitor, keep track, and even save the data and status of patient's health. These devices are used in multiple healthcare facilities such as hospitals and clinics, among others. These devices are of great use for healthcare professionals as these devices help them a lot. Any unusual activity that occurs in patient's body can be tracked, making the treatment process smoother and faster.
Patient monitoring devices can be used to measure and take care of multiple aspects of a patient's health. These parameters could be measuring patient's blood pressure, respiratory rate, heart rate, temperature, and some more. Some advanced patient monitoring devices can also be used to observe kidney and brain activities.
A surge in demand for remote patient monitoring systems owing to the presence of coronavirus pandemic around the world, is bolstering the patient monitoring devices market development. The problem of space scarcity and the risk of infection due to the COVID-19 pandemic is encouraging the healthcare sector to adopt remote monitoring devices. Remote patient monitoring includes the use of portable and wearable devices that collect patient data and transmits the information to the physician.
The rising use of remote monitoring systems can be attributed to technological integration like the Internet of Things (IoT) that aid in transmitting real-time updates, cloud-based storage, and video conferencing, which is propelling the growth of the market. Furthermore, remote monitoring devices helps in significant cost reductions, diminishing the need for frequent doctor visits and hospitalisation costs, thereby boosting the demand for patient monitoring devices.
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The report gives an in-depth analysis of the key players involved in the patient monitoring devices market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
|Scope of the Report
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Devices Type
|Breakup by Application
|Breakup by End User
|Breakup by Region
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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 Patient Monitoring Devices Market Overview
3.1 Global Patient Monitoring Devices Market Historical Value (2017-2023)
3.2 Global Patient Monitoring Devices Market Forecast Value (2024-2032)
4 Global Patient Monitoring Devices Market Landscape
4.1 Global 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 Patient Monitoring Devices Product Landscape
4.2.1 Analysis by Device Type
4.2.2 Analysis by Application
4.2.3 Analysis by End User
5 Global Patient Monitoring Devices Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Patient Monitoring Devices Market Segmentation
6.1 Global Patient Monitoring Devices Market by Devices Type
6.1.1 Market Overview
6.1.2 Haemodynamic Monitoring Devices
6.1.3 Neuro-monitoring Devices
6.1.4 Cardiac Monitoring Devices
6.1.5 Multi-parameter Monitors
6.1.6 Respiratory Monitoring Devices
6.1.7 Remote Patient Monitoring Devices
6.2 Global Patient Monitoring Devices Market by Application
6.2.1 Market Overview
6.2.5 Fatal and Neonatal
6.2.6 Weight Management and Fitness Monitoring
6.3 Global Patient Monitoring Devices Market by End User
6.3.1 Market Overview
6.3.2 Hospitals & Clinics
6.3.3 Ambulatory Surgery Centers
6.3.4 Home Healthcare
6.4 Global Patient Monitoring Devices Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Patient Monitoring Devices Market
7.1 Market Share by Country
7.2 United States of America
8 Europe Patient Monitoring Devices Market
8.1 Market Share by Country
8.2 United Kingdom
9 Asia Pacific Patient Monitoring Devices Market
9.1 Market Share by Country
10 Latin America Patient Monitoring Devices Market
10.1 Market Share by Country
11 Middle East and Africa Patient Monitoring Devices Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.5 South Africa
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
17 Supplier Landscape
17.1 Abbott Laboratories
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.2 Boston Scientific Corporation
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.3 Becton, Dickinson and Company
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.4 General Electric Company (GE Healthcare)
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.5 Siemens Healthcare GmbH
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.6 NIHON KOHDEN CORPORATION
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.7 Koninklijke Philips N.V.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.8 F. Hoffmann-La Roche Ltd
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.9 Honeywell International Inc.
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.11 OMRON Corporation
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
18 Global Patient Monitoring Devices Market - Distribution Model (Additional Insight)
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
*Additional insights provided are customisable as per client requirements.
The global patient market value attained a value of about USD 43.73 billion in 2023.
The global market size is anticipated to grow at a CAGR of 7.7% during the forecast period of 2024-2032 to reach a value of USD 85.25 billion by 2032.
The increase in chronic diseases, technological advancement, and the growing geriatric population globally are some of the major drivers of the market growth.
The increasing public and government investments in improving the healthcare system globally has been the key trend in the global market.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The device types in the market include haemodynamic monitoring devices, neuro-monitoring devices, cardiac monitoring devices, multi-parameter monitors, respiratory monitoring devices, and remote patient monitoring devices, among others.
The product finds side applications in cardiology, neurology, respiratory, fatal and neonatal, weight management and fitness monitoring, among others.
The end-users of the device include hospitals and clinics, ambulatory surgery centres, and home healthcare, among others.
The key players in the market include Abbott Laboratories, Boston Scientific Corporation, Becton, Dickinson and Company, General Electric Company (GE Healthcare), Siemens Healthcare GmbH, NIHON KOHDEN CORPORATION, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd, Honeywell International Inc., Masimo, and OMRON Corporation.
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