Patient Monitoring Devices Industry To Witness Massive Growth

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).

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.

Remote Patient Monitoring System Market Insights

The global remote patient monitoring system market size was valued at USD 4.4 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 18.5% over the forecast period.

Based on products, the industry is segmented into vital sign monitors and special monitors. The special monitors segment led the industry in 2022 and accounted for the largest share of more than 82.75% of the overall revenue due to its ability to monitor clinically important data pre-and post-surgery, identify symptoms, and prevent complications.

On the basis of applications, the market is segmented into cancer, cardiovascular diseases, diabetes, sleep disorder, weight management and fitness monitoring, bronchitis, infections, virus, dehydration, and hypertension. Diabetes emerged as the leading application segment in 2022 and accounted for over 13.00% of the overall revenue share.

The hospital end-use segment led the industry in 2022 and accounted for the maximum share of 80.00% of the overall revenue share. Hospitals cater to a large number of outpatients as well as inpatients. They offer a large number of diagnostic tests and have a larger technical staff for catering to the needs of the patients. A large patient pool and an increasing number of tests being performed are vital drivers for segment growth.

Vital Signs Monitoring Devices Market Insights

The global vital signs monitoring devices market size was valued at USD 9.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2030.

The blood pressure monitors (sphygmomanometers) segment held the largest share of more than 48.5% in 2022 and is also anticipated to grow at a healthy CAGR 9.3% from 2023 to 2030. This can be attributed to the increasing BP monitoring due to the rapidly rising prevalence of hypertension. In addition, with the increasing awareness, patients today are keeping an eye on blood pressure as a precautionary or preventive measure.

The hospitals end-use segment accounted for the largest share of 35.4% in 2022 due to their large patient pool and greater financing capability for these devices. These devices can now be connected to a comprehensive platform through software wherein hospital staff can easily monitor patients’ vital signs in a single dashboard. Hospitals require all categories of vital sign monitors.

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 Insights

The global blood pressure monitoring devices market size was estimated at USD 4.5 billion in 2022 and is projected to expand further at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030.

The aneroid BP monitors/sphygmomanometers segment accounted for the largest share of more than 37.1% of the overall revenue in 2022 due to high demand. Technological advancements coupled with new product launches are expected to further fuel the demand for sphygmomanometers globally.

On the basis of end-uses, the global industry has been further categorized into hospitals, Ambulatory Surgical Centers (ASCs), and homecare. The hospitals segment dominated the global industry in 2022 and accounted for the largest share of more than 65.4% of the overall revenue. The high share can be attributed to the presence of a large patient pool.

Multiparameter Patient Monitoring Systems Market Insights

The global multiparameter patient monitoring system market size was valued at USD 11.0 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.7% during the forecast period.

The portable type multiparameter patient monitoring systems led the market in 2021 with a revenue share of over 65.7% and are anticipated to retain their position during the forecast period. This can be attributed to various advantages offered by portable systems, such as they are lightweight for easy transport within or outside hospitals.

High-acuity multiparameter patient monitoring systems dominated the market with a revenue share of over 45.6% in 2021 and are anticipated to retain their position over the forecast period. This can be attributed to the high cost of these systems as compared to mid- and low-acuity systems. High-acuity patients include those with acutely life-threatening conditions who need continuous monitoring with cautious treatment.

The geriatric segment dominated the multiparameter patient monitoring system market with a revenue share of over 53.8% in 2021. The segment is also expected to witness the fastest growth during the forecast period, primarily due to a rapidly growing geriatric population that is susceptible to various chronic disorders, which require continuous patient monitoring.

The hospital segment held the largest revenue share of over 39.6% in 2021. This is attributed to the increasing number of patients being admitted to hospitals due to chronic diseases, injuries, and other emergencies. Multiparameter patient monitors are widely used in general wards and ICUs, and to continuously monitor patients’ health based on various human vital parameters such as oxygen saturation, respiration rate, blood pressure, and heart rate.

Patient Monitoring Devices Market – Global Industry Segmentation

Patient Monitoring Devices Market, By Type

• Remote Patient Monitoring Devices Market
• Vital Sign Monitoring Devices Market 
• Blood Pressure Monitoring Devices Market 
• Multiparameter Patient Monitoring System Market

Remote Patient Monitoring Devices Market, By Product

• Remote Patient Monitoring Devices Market
  1. Vital Sign Monitors
     1. Blood Pressure Monitors
     2. Pulse Oximeters
     3. Heart Rate Monitor (ECG)
     4. Temperature Monitor
     5. Respiratory Rate Monitor
     6. Brain Monitoring (EEG)
  2. Special Monitors
     1. Anesthesia Monitors
     2. Blood Glucose Monitors
     3. Cardiac Rhythm Monitor
     4. Respiratory Monitor
        1. Capnographs
        2. Spirometers
     5. Fetal Heart Monitors
     6. Prothrombin Monitors
     7. Multi Parameter Monitors (MPM)
     8. Others (Ventilators, Infusion Pumps and others)

Remote Patient Monitoring Devices Market, By Application

• Cancer
• Cardiovascular Diseases
• Diabetes
• Sleep Disorder

Weight management and Fitness Monitoring

• Bronchitis
• Infections
• Virus
• Dehydration
• Hypertension

 Remote Patient Monitoring Devices Market, By Infection

• Eye infections
• Sinus Infections
• Strep Throat

 Remote Patient Monitoring Devices Market, By End-use

• Hospital-based patients
• Ambulatory patients
• Home Healthcare

Vital Sign Monitoring Devices Market, By Product

• Blood Pressure Monitors
  1. Mercury BP Monitors
  2. Aneroid BP Monitors
  3. Digital BP Monitors
  4. Ambulatory BP Monitors
  5. Blood Pressure Instrument Accessories
• Pulse Oximeters
  1. Table-top/Bedside Pulse Oximeters
  2. Fingertip Pulse Oximeters
  3. Hand-held Pulse Oximeters
  4. Wrist-worn Pulse Oximeters
  5. Pediatric Pulse Oximeters
  6. Pulse Oximeter Accessories
• Temperature Monitoring Devices
  1. Mercury filled thermometers
  2. Digital thermometers
  3. Infrared thermometers
  4. Liquid Crystal Thermometer
  5. Temperature monitoring device accessories
• Other Vital Sign Monitors

Vital Sign Monitoring Devices Market, By End-use

• Hospitals
• Physician’s Office
• Home Healthcare
• Ambulatory Centers
• Emergency Care Centers
• Other Healthcare Settings

Blood Pressure Monitoring Market, By Product

• Aneroid Blood Pressure Monitors
• Digital Blood Pressure Monitors
  1. Arm
  2. Wrist
  3. Fingure
• Ambulatory Blood Pressure Monitors
• Blood Pressure Transducers
  1. Reusable
  2. Disposable
• Instrument Accessories
  1. Blood Pressure Cuffs
     1. Reusable
     2. Disposable
  2. Others (Bladders, Bulbs and Valves, Manometers)

Blood Pressure Monitoring Market, By End-use

• Hospitals
• Ambulatory Surgical Centers Clinics
• Homecare

Multiparameter Patient Monitoring Systems Market, By Devices

• Portable
• Fixed

Multiparameter Patient Monitoring Systems Market, By Acuity Level

• High
• Medium
• Low

Multiparameter Patient Monitoring Systems Market, By Age Group

• Pediatric
• Adult
• Geriatric

Multiparameter Patient Monitoring Systems Market, By End-Use

• Hospitals
• Homecare Settings
• Ambulatory Surgical Centers
• Others

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

Patient Monitoring Devices Industry Data Book Regional Outlook

• North America

1. U.S.
2. Canada

• Europe

1. U.K.
2. Germany
3. France
4. Italy
5. Spain
6. Denmark
7. Sweden
8. Norway

• Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. Thailand
6. South Korea

• Latin America

1. Brazil
2. Mexico
3. Argentina
4. Rest of Latin America

• Middle East Africa (MEA)

1. South Africa
2. United Arab Emirates
3. Saudi Arabia
4. Kuwait

Patient Monitoring Devices Industry Data Book Competitive Landscape

The industry growth is directly associated with the rising investments by manufacturers in the development of cost-effective, innovative products, and the rising prevalence of chronic diseases.

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

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

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