Market Overview:

The global digital patient monitoring devices market reached a value of US$ 80.77 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 323.82 Billion by 2027, exhibiting a CAGR of 24.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Digital patient monitoring devices refer to electronic instruments intended to monitor the patient's vital parameters, such as blood pressure, heart rate, temperature, pulse rate, and blood oxygen saturation levels (SPO2). Urine output, weight, temperature, respiratory, cardiac, neuromonitoring and remote patient are some of the commonly available types of digital patient monitoring devices. Digital patient monitoring devices assist in delaying and preventing complications from the disease, reducing workload, saving time, reducing errors, improving communication, increasing patient engagement and control, and enhancing safety. As a result, they are extensively used in hospitals, clinics, ambulatory surgical centers (ASC), and home care settings.  

Digital Patient Monitoring Devices Market Trends:

Significant growth in the healthcare industry, the rising demand for continuous monitoring devices, and the increasing prevalence of chronic medical ailments, such as hypertension, asthma, blood pressure and diabetes, represent key factors majorly driving the digital patient monitoring devices market growth. Apart from this, various advancements in technology, such as the introduction of smart digital patient monitoring devices that assist in the quick analysis of common physiological parameters, are providing an impetus to the market growth. Additionally, the increasing demand for various sensor-based wearable monitoring devices, such as continuous glucose monitors that help in tracking the patient's blood sugar levels on a real-time basis, is favoring the market growth. These gadgets transmit the recorded heath data electronically to medical practitioners through another integrated monitoring device, which, in turn, enables them to constantly keep a check on patient’s health, thus reducing the instances of developing serious illnesses. Other factors, including the increasing geriatric population, rising expenditure capacity of consumers, and widespread product demand across in-home care settings due to the sudden outbreak of coronavirus disease (COVID-19), are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global digital patient monitoring devices market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on monitoring type, product and end user.

Breakup by Monitoring Type:

• Wireless Sensor Technology
• mHealth
• Telehealth
• Wearable Devices
• Remote Patient Monitoring
   

Breakup by Product:

• Diagnostic Monitoring Devices

• Vital Sign Monitors
• Sleep Monitors
• Fetal Monitors
• Neuromonitors
• Others

• Therapeutic Monitoring Devices

• Insulin Monitors
• Respiratory Monitors
• Others
   

Breakup by End User:

• Hospitals
• Home Settings
• Ambulatory Surgical Centers (ASC)
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, AT&T Inc., Athenahealth Inc., F. Hoffmann-La Roche AG, General Electric Company, Hill-Rom Holdings Inc. (Baxter International Inc.), Johnson & Johnson, Koninklijke Philips N.V, Medtronic plc, Nihon Kohden Corporation, OMRON Corporation and ResMed.

Report Coverage: