Global Digital Patient Monitoring Devices Market to Reach US$ 715.9 Billion by 2032, Impelled by Expanding Healthcare Industry

February 10, 2023 | Healthcare

The latest report by IMARC Group, titled "Digital Patient Monitoring Devices Market Report by Monitoring Type (Wireless Sensor Technology, mHealth, Telehealth, Wearable Devices, Remote Patient Monitoring), Product (Diagnostic Monitoring Devices, Therapeutic Monitoring Devices), End User (Hospitals, Home Settings, Ambulatory Surgical Centers (ASC)), and Region 2024-2032," finds that the global digital patient monitoring devices market size reached US$ 128.0 Billion in 2023. Digital patient monitoring devices are electronic instruments used to monitor the patient's vital parameters, such as temperature, pulse rate, heart rate, and blood oxygen saturation levels (SPO2). They assist in delaying and preventing complications caused by the disease, reducing workload and errors, improving communication, increasing patient engagement and control, and enhancing safety. As a result, digital patient monitoring devices are extensively used in hospitals, clinics, ambulatory surgical centers (ASC), and home care settings.

Global Digital Patient Monitoring Devices Market Trends:

The market is primarily driven by the expanding healthcare industry. In addition, the growing prevalence of chronic diseases, such as asthma, blood pressure, hypertension, and diabetes, represents another major growth-inducing factor. Besides this, various manufacturers are introducing smart digital patient monitoring devices to analyze common physiological parameters. This, coupled with the escalating demand for sensor-based wearable monitoring devices, such as glucose monitors that help track blood sugar levels in real time, is positively influencing the market growth. Moreover, the rising geriatric population, the increasing expenditure capacity of consumers, and widespread product adoption in home care settings due to the sudden outbreak of coronavirus disease are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 715.9 Billion by 2032, exhibiting a CAGR of 20.5% during the forecast period (2024-2032). 

Market Summary:

  • Based on the monitoring type, the market has been classified into wireless sensor technology, mhealth, telehealth, wearable devices, and remote patient monitoring.
  • On the basis of the product, the market has been bifurcated into diagnostic monitoring devices (vital sign monitors, sleep monitors, fetal monitors, neuromonitors, and others) and therapeutic monitoring devices (insulin monitors, respiratory monitors, and others).
  • Based on the end user, the market has been classified into hospitals, home settings, and ambulatory surgical centers (ASC).
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some 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 Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Monitoring Type, Product, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Digital Patient Monitoring Devices Market to Reach US$ 715.9 Billion by 2032, Impelled by Expanding Healthcare Industry
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