Pune, March 28, 2025 (GLOBE NEWSWIRE) -- Patient Monitoring Devices Market Size & Growth Analysis:
According to SNS Insider, the global Patient Monitoring Devices Market size was valued at USD 48.03 billion in 2023 and is projected to reach USD 93.53 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.71% from 2024 to 2032. The increasing prevalence of chronic diseases, rising demand for remote patient monitoring, and advancements in AI-driven healthcare solutions are key factors propelling market growth.
Market Overview
Patient monitoring devices are crucial tools in contemporary healthcare, allowing for the constant monitoring of vital signs and enabling the early identification of health problems, thus enhancing patient outcomes. Increased chronic diseases, an increasing aging population worldwide, and technological advancements in remote monitoring equipment have tremendously boosted the demand for these devices. The trend towards home healthcare and individualized medicine has also contributed to increasing market size.
In the United States, the market has experienced considerable growth as a result of the implementation of cutting-edge healthcare technologies and a strong healthcare infrastructure. The focus on value-based care and the integration of digital health solutions have played a crucial role in fueling the adoption of patient monitoring devices in different healthcare settings. Increased demand for wearable monitoring devices and remote healthcare services has also boosted market growth in the country.
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Key Patient Monitoring Devices Companies Profiled in the Report
- Smiths Medical: BCI Pulse Oximeters, Capnographs
- Biotronik: BioMonitor Series
- Mindray Medical International Ltd.: BeneVision Series
- Koninklijke Philips N.V.: IntelliVue Series
- Nihon Kohden: Life Scope Series
- Welch Allyn: Connex Vital Signs Monitor
- Health anywhere Inc.
- Intel
- GE Healthcare: CARESCAPE Monitor Series
- Medtronic: Nellcor
- Bosch
- Masimo Corporation: Patient SafetyNet
Patient Monitoring Devices Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 48.03 billion |
| Market Size by 2032 | US$ 93.53 billion |
| CAGR | CAGR of 7.71% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Product
In 2023, the multi-parameter patient monitoring devices segment held 21% of the global market revenue. The devices provide thorough patient evaluations by monitoring multiple vital signs at once, such as heart rate, blood pressure, and respiratory rate. Their effectiveness in intensive care units (ICUs) and emergency environments has led to their extensive use in hospitals and ambulatory care centers.
The cardiology monitoring devices segment is anticipated to grow strongly with the rising incidence of cardiovascular diseases and heightened awareness regarding heart health. The increasing popularity of wearable ECG monitors and real-time remote cardiac monitoring solutions is likely to fuel market growth in this segment.
By End-Use
In 2023, hospitals led the patient monitoring devices market, with more than 49.6% of the revenue share. The demand for round-the-clock monitoring of patients in critical care units and the integration of intelligent monitoring solutions have solidified hospitals' leadership in this market. Furthermore, the increased hospital admissions resulting from chronic diseases and surgeries have also boosted the demand for these devices.
The home care segment is anticipated to experience strong growth over the next few years. With the growing demand for home-based healthcare solutions and improvements in portable monitoring equipment, there is a growing adoption of remote monitoring solutions among patients. The increase in the geriatric population and the requirement to decrease hospital readmissions are other critical drivers of the growth of this segment.
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Patient Monitoring Devices Market Segmentation
By Product
- Blood Glucose Monitoring Systems
- Self-monitoring Blood Glucose Systems
- Continuous Glucose Monitoring Systems
- Cardiac Monitoring Devices
- ECG Devices
- Implantable Loop Recorders
- Event Monitors
- Mobile Cardiac Telemetry Monitors
- Smart/Wearable ECG Monitors
- Multi-parameter Monitoring Devices.
- Low-acuity Monitoring Devices
- Mid-acuity Monitoring Devices
- High-acuity Monitoring Devices
- Respiratory Monitoring Devices
- Pulse Oximeters
- Spirometers
- Capnographs
- Peak Flow Meters
- Temperature Monitoring Devices
- Handheld Temperature Monitoring Devices
- Table-top Temperature Monitoring Devices
- Wearable Continuous Monitoring Devices
- Invasive Temperature Monitoring Devices
- Smart Temperature Monitoring Devices
- Hemodynamic/Pressure Monitoring Devices
- Hemodynamic Monitors
- Blood Pressure Monitors
- Disposables
- Fetal & Neonatal Monitoring Devices
- Fetal Monitoring Devices
- Neonatal Monitoring Devices
- Neuromonitoring Devices
- Electroencephalograph Machines
- Electromyography Machines
- Cerebral Oximeters
- Intracranial Pressure Monitors
- Magnetoencephalograph Machines
- Transcranial Doppler Machines
- Weight Monitoring Devices
- Digital
- Analog
- Other Patient Monitoring Devices
By End-use
- Hospitals
- Ambulatory Surgery Centers
- Home Care Settings
- Other
Regional Insights
North America dominated the market in 2023, with a revenue share of more than 40% globally. The region's success is fueled by its highly developed healthcare infrastructure, high penetration rates of advanced medical technologies, and increasing investments in remote patient monitoring. The region's concentration of key industry players and robust regulatory support for digital health innovations have also fortified the market in this region.
The Asia-Pacific region is expected to witness the highest growth over the forecast period. Drivers, including rising healthcare spending, enhanced awareness regarding the management of chronic diseases, and enhanced healthcare infrastructure, are expected to propel market growth in nations such as China, India, and Japan. Increased use of telemedicine and digital health solutions in these countries is expected to further propel market growth.
Recent Developments in the Patient Monitoring Devices Market
- January 2023: Senet and Telli Health introduced the first LoRaWAN-based remote patient monitoring hardware aimed at enhancing healthcare access in remote and underserved areas.
- October 2024: TeleTracking implemented its real-time patient tracking system in multiple UK hospitals, optimizing bed management and patient care coordination.
- December 2024: Oura launched the Oura Ring 4, a smart ring equipped with advanced tracking features for heart rate, blood oxygen levels, and body temperature.
- January 2025: Abbott introduced Lingo, a wearable biosensor that tracks glucose levels via a small filament under the skin, catering to both diabetes patients and fitness enthusiasts.
Statistical Insights and Trends Reporting
- The increasing prevalence of chronic illnesses, including cardiovascular diseases and diabetes, has significantly driven the demand for patient monitoring devices.
- North America recorded the highest prescription rate for patient monitoring devices, reflecting the region's strong emphasis on proactive and preventive healthcare.
- The Asia-Pacific region is expected to witness the highest increase in patient monitoring device volume due to improving healthcare accessibility and a growing elderly population.
- North America led in healthcare spending, with significant investments from government, commercial, and private sources, facilitating the widespread adoption of advanced monitoring technologies.
- Wearable and remote patient monitoring devices experienced a surge in adoption, particularly in developed markets, indicating a shift toward personalized and accessible healthcare solutions.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Patient Monitoring Devices Market by Product
8. Patient Monitoring Devices Market by End-use
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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