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Patient Monitoring Devices Industry Data Book Covers Remote Patient Monitoring, Vital Sign Monitoring Devices, Blood Pressure Monitoring Devices and Multiparameter Patient Monitoring System Markets.
The global patient monitoring devices industry size was estimated at USD 29.1 billion in 2022. The market is expected to expand at a CAGR of 10.0% CAGR (2023-2030).
Remote Patient Monitoring System Market Report Highlights
The global remote patient monitoring system market size is expected to reach USD 16.9 billion by 2030, according to a new report by Grand View Research Inc. It is projected to register a CAGR of 18.5% from 2023 to 2030.
- The cardiac rhythm monitor segment is expected to witness a significant CAGR over the forecast period owing to the increasing incidence of cardiac conditions globally
- The home healthcare segment is projected to witness a CAGR of 22.0% over the forecast period owing to a rise in the number of patients accessing remote monitoring due to the COVID-19 pandemic
- In Asia Pacific, the market is expected to showcase high growth potential due to the presence of large unmet needs in emerging economies such as China and India
- This region is also backed by Japan, which has one of the highest numbers of 65+ year-old adults at a global level
Vital Signs Monitoring Devices Market Report Highlights
The global vital signs monitoring devices market size was valued at USD 9.2 billion in 2022, and it is expected to reach USD 18.8 billion by 2030, registering a CAGR of 9.4% CAGR (2023-2030).
- By product, BP monitors held the largest market share in 2021 and are expected to grow at a lucrative CAGR from 2022 to 2030
- The hospital end-use segment dominated the market in 2021 and is expected to continue its dominance throughout the forecast period owing to the high demand for advanced devices
- North America dominated the global market in 2021. The presence of major market players and high adoption rates of advanced technologies are the key factors attributed to the segment growth
- The industry is highly competitive. Various manufacturers are focusing on new product launches, technological innovations, collaborations, and regional expansion as major strategic initiatives
Access the Global Patient Monitoring Devices Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies
Blood Pressure Monitoring Devices Market Report Highlights
The global blood pressure monitoring devices market size was estimated at USD 4.5 billion in 2022, and it is expected to reach USD 7.96 billion by 2030, registering a CAGR of 9.6% CAGR (2023-2030).
- Based on the type of product, sphygmomanometer/aneroid BP monitors dominated the overall market in 2021 in terms of revenue share, owing to the increasing prevalence of high blood pressure cases worldwide
- The ambulatory blood pressure monitoring devices market is driven by factors such as increasing adoption by clinicians and increasing awareness about it
- The digital BP monitors segment is expected to witness lucrative growth in the coming years owing to advantages associated with these devices such as ease of use, immediate results, and low cost. In addition, continuous improvement in these devices is expected to present this market with further growth opportunities
- The home healthcare segment is expected to witness lucrative growth owing to various government initiatives to promote home healthcare
- In 2021, North America was the key regional market in terms of revenue share. Key factors attributing to its large share include the presence of advanced healthcare infrastructure and the increasing prevalence of lifestyle-associated diseases with a high risk of hypertension
- Higher awareness levels, increasing demand for early diagnostics prevention, and increasing stress levels leading to high blood pressure are the factors responsible for the market growth
- The Asia Pacific blood pressure monitoring devices market is expected to demonstrate rapid growth during the forecast period with a CAGR of 13.6%. Key factors attributed to its rapid growth include favorable government initiatives such as the government of India's campaign "Make In India", which is intended to attract FDI and international players to invest in the Indian market. In addition, rapidly improving healthcare facilities in the region are anticipated to aid market growth
Multiparameter Patient Monitoring Systems Market Report Highlights
The global multiparameter patient monitoring system market size was valued at USD 10.5 billion in 2022, and it is expected to reach USD 18.0 billion by 2030, registering a CAGR of 5.7% CAGR (2023-2030).
- Portable was the largest device type segment in 2021 accounting for 65.7% 2021 due to growing home healthcare and easy mobility across different departments within the hospital
- By acuity level, the high segment has accounted for the highest market share in 2021 due to the increasing prevalence of chronic diseases, such as CVDs, respiratory disorders, and other critical medical conditions, which need continuous monitoring
- By age group, the geriatric segment accounted for the largest segment in 2021 with a share of 53.8% 2021 due to the rapidly growing geriatric population that is susceptible to various chronic disorders, which require continuous patient monitoring
- By end-use, the hospital's segment has accounted for the highest market share in 2021 due to the increasing number of patients being admitted to hospitals due to chronic diseases, injuries, and other emergencies
- North American region contributed the largest share to the market in the year 2021 attributing to the availability of technologically advanced equipment and high-quality healthcare system
Order your copy of the Free Sample of “Patient Monitoring Devices Industry Data Book - Remote Patient Monitoring, Vital Sign Monitoring Devices, Blood Pressure Monitoring Devices and Multiparameter Patient Monitoring System Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Competitive Landscape
Key players operating in the patient monitoring devices industry are –
- Honeywell
- American Telecare
- Roche
- Philips Healthcare
- Bosch
- Biotronik
- Koninklijke Philips N.V.
- GE Healthcare
- Medtronic
- Masimo Corporation
- Smiths Medical
The patient monitoring devices industry databook compiled by Grand View Research is a collection of market sizing information forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Go through the table of content of Patient Monitoring Devices Industry Data Book to get a better understanding of the Coverage Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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