The Global Patient Monitoring Devices Market will grow at a compound annual growth rate (CAGR) of 9.8% during the forecast period from 2022-2030.
Patient Monitoring Devices help record the biometric values, such as blood pressure, body temperature, and heart rate of the patients.
The integration of the Internet of Things technology in these devices would fuel their demand in the market. Such advancements will help monitor glucose, temperature, blood pressure, and pulse of the people remotely. Thus, devices like wearable heart monitors, Bluetooth-enabled scales, skin patches, glucose monitors, shoes, belts, or maternity care trackers would fuel the demand for the technologies during the forecast period.
Furthermore, the advanced wearable devices can help patients monitor, analyze, diagnose and perform routine check-ups, such as weight, blood pressure, and electrocardiography. Essence SmartCare introduced the platform VitalOn for geriatric patients and people suffering from chronic diseases. The platform offers a remote patient monitoring system both for home care and other healthcare bodies.
Patient monitoring devices have eased the work benefits by offering self-monitoring methods, advanced diagnosis methods, timely vitals monitoring, etc. Thus, such benefits are forecast to surge the growth of the market during the forecast period. Moreover, a large percentage of the global population undergoes several surgical treatments, which increases the demand for cardiac monitoring devices around the globe.
On the contrary, high expenditure and the cost of devices would inhibit the market from growth.
COVID-19 Impact Analysis
The sudden onset of the COVID-19 raised the demand for patient monitoring devices. The pandemic had a positive impact on the overall market as it increased the demand for products. The concerns related to deadly infection fueled the demand for remote monitoring and patient engagement solutions. Manufacturers had to amplify the activities in order to meet the requirements of the consumers. Thus, the market witnessed a growth in the adoption of blood glucose monitoring devices, respiratory monitoring devices, multi-parameter monitoring devices, fetal/neonatal monitoring devices, and other devices during the pandemic.
Patient Monitoring Devices Market- Regional Insights
North America acquired the maximum share in the global patient monitoring devices market. Due to the increasing investments, the regional market is forecast to grow during the analysis period. Apart from that, the surging demand for wireless and portable systems would drive the growth of the market.
Competitors In the Market
- Medtronic plc (Europe)
- Abbott Laboratories (United States)
- Dragerwerk AG & Co. KGaA (Germany)
- Edwards Lifesciences Corporation (United States)
- GE Healthcare (United States)
- OMRON Corporation (Japan)
- Masimo Corporation (United States)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
- Nihon Kohden Corporation (Japan)
- Natus Medical (United States)
- Koninklijke Philips N.V. (Europe)
- Getinge AB (Europe)
- Boston Scientific Corporation (United States)
- Dexcom, Inc. (United States)
- Nonin Medical, Inc. (United States)
- Biotronik (Germany)
- Bio Telemetry, Inc. (United States)
- Schiller AG (Europe)
- F. Hoffmann-La Roche Ltd. (Europe)
- Hill- Rom Holdings, Inc. (United States)
- Other prominent players.
- Hemodynamic Monitoring
- Neuromonitoring Devices
- Cardiac Monitoring Devices
- Blood Glucose Monitoring Systems
- Fetal & Neonatal Monitoring Devices
- Respiratory Monitoring Devices
- Multi-parameter Monitoring Devices
- Weight Monitoring Devices
- Temperature Monitoring Devices
- Other Patient Monitoring Devices
- Fetal & Neonatal
- Weight Management & Fitness Monitoring
- Home Settings
- Ambulatory Surgery Centers
- Other End Users
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America