Patient Monitoring Devices Market by Product (Blood Glucose Monitoring Systems, Cardiac Monitoring Devices, Fetal & Neonatal Monitoring Devices), End User (Ambulatory Surgery Centers, Home Care Settings, Hospitals) - Global Forecast 2024-2030

Patient Monitoring Devices Market by Product (Blood Glucose Monitoring Systems, Cardiac Monitoring Devices, Fetal & Neonatal Monitoring Devices), End User (Ambulatory Surgery Centers, Home Care Settings, Hospitals) - Global Forecast 2024-2030

The Patient Monitoring Devices Market size was estimated at USD 51.24 billion in 2023 and expected to reach USD 57.96 billion in 2024, at a CAGR 13.30% to reach USD 122.89 billion by 2030.

Patient monitoring devices are medical apparatuses and systems that are used to observe, measure, and record patients' physiological parameters over time. These devices are essential in healthcare settings as they enable medical professionals to continuously monitor the health status of patients, assess the effectiveness of treatments, and make informed decisions regarding medical care. An increase in health consciousness among patients is driving the demand for wearable and remote patient monitoring devices. In addition, supportive government policies and funding for healthcare IT solutions propel the market forward. However, concerns over the protection of sensitive health information can affect the adoption of remote patient monitoring systems. Furthermore, innovations in wireless technology and telemedicine present significant opportunities for the market of patient monitoring devices. Development of non-invasive monitoring technologies that offer greater comfort and ease of use for continuous monitoring.

Regional Insights

The patient monitoring devices market in the Americas is characterized by high adoption rates of advanced technologies, driven by a well-established healthcare infrastructure and favorable reimbursement policies. The United States represents a significant market due to an aging population, the prevalence of chronic diseases, and a strong presence of key market players. South America shows growing potential attributed to increasing healthcare investments and initiatives to modernize medical facilities. The EMEA region showcases diversity in the patient monitoring devices market, with Western Europe being highly mature, whereas Africa and parts of the Middle East present opportunities for growth. An increasing elderly population in Europe, health infrastructure developments in the Middle East, and a rise in awareness of remote monitoring solutions are key factors driving the market across this region. The APAC region is rapidly expanding within the patient monitoring devices sector due to its large population base, increasing healthcare expenditure, and rising need for quality healthcare services. Countries such as China, Japan, and India are witnessing a proliferation of advanced monitoring technologies, particularly for managing chronic diseases.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Patient Monitoring Devices Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Technological Advancement in Patient Monitoring Devices & Availability of Wireless Monitoring Devices
    • Rising Prevalence of Chronic Diseases
    • Increasing Preference for Wearable Patient Monitoring Devices, Biosensors, and Smart Implants among Healthcare Payers
    • Market Restraints
      • Risks Associated with Invasive Monitoring Devices
      • Relative High Cost of Patient Monitoring Products and Inadequate Reimbursement
      • Market Opportunities
        • Growing Market for Non-Invasive and Minimally Invasive Devices
        • Increasing Demand for Patient Monitoring Devices in Non-Hospital Settings
        • Market Challenges
          • Lack of Skilled Healthcare Professionals
          • Increasing Pricing Pressure on Market Players
          • Market Segmentation Analysis
            • Product: Rising investment across next generation cardiac monitoring devices for routine check-ups and pre-surgical assessments,
            • End User: Rising demand for portable patient monitoring devices across home care settings
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Patient Monitoring Devices Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Patient Monitoring Devices Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Pylo Health Launches Next Generation of Cellular-Connected Remote Patient Monitoring Devices
              
              Pylo Health, an innovator in remote patient monitoring, has unveiled its advanced Pylo 900-LTE blood pressure monitor and Pylo 200-LTE weight scale, which are integral to the Prevounce care management ecosystem. These cutting-edge devices are set apart by their clinical validation and seamless cellular network connectivity for flawless data transmission across the US.
              
              Philips launches Visual Patient Avatar monitoring solution
              
              Philips has introduced its innovative Visual Patient Avatar, a monitoring solution designed to enhance the efficiency and accuracy of patient care in the operating room (OR). Traditional patient monitors in ORs present data numerically, demanding anesthesiologists' relentless focus and continuous mental calculation, heightening the risk of errors due to cognitive overload.
              
              Granger Health Announces Acquisition of Medical Device and Data Analytics Company
              
              Following a strategic acquisition of assets by TracPatch Health, LLC from the former TracPatch Health, Inc., facilitated through a debt restructuring by Granger Capital, the company is poised to further its foothold in the patient monitoring industry. Operating under the experienced leadership of Holly McAlpine and Granger Health, TracPatch Health continues to offer innovative, FDA Class I exempt surface-sensor technology that optimizes musculoskeletal health management.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Patient Monitoring Devices Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Patient Monitoring Devices Market, highlighting leading vendors and their innovative profiles. These include 100 Plus by ConnectAmerica.com, LLC, Abbott Laboratories, AliveCor, Inc., BIOTRONIK SE & Co KG, Boston Scientific Corporation, Cardiomo Care Inc. by Delaware corporation, ChroniSense Medical, Ltd., Compumedics Limited, Dexcom, Inc., Drägerwerk AG & Co. KGaA, Edwards Lifesciences Corporation, Fisher & Paykel Healthcare Corporation Limited, GE HealthCare Technologies Inc., Getinge AB, Hill-Rom Holdings, Inc. by Baxter International Inc., Koninklijke Philips N.V., Masimo Corporation, Medtronic PLC, Mindray Medical International Limited, Natus Medical Incorporated, Nihon Kohden Corporation, Nonin Medical, Inc., Omron Corporation, Pylo Health, Schiller AG, and Stryker Corporation.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Patient Monitoring Devices Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Blood Glucose Monitoring Systems
                • Continuous Glucose Monitoring Systems
                • Self-monitoring Blood Glucose Systems
                • Cardiac Monitoring Devices
                  • ECG Devices
                  • Event Monitors
                  • Implantable Loop Recorders
                  • Mobile Cardiac Telemetry Monitors
                  • Smart/Wearable ECG Monitors
                  • Fetal & Neonatal Monitoring Devices
                    • Fetal Monitoring Devices
                    • Neonatal Monitoring Devices
                    • Hemodynamic/Pressure Monitoring Devices
                      • Blood Pressure Monitors
                      • Disposables
                      • Hemodynamic Monitors
                      • Multi-parameter Monitoring Devices
                        • High-acuity Monitoring Devices
                        • Low-acuity Monitoring Devices
                        • Mid-acuity Monitoring Devices
                        • Neuromonitoring Devices
                          • Cerebral Oximeters
                          • Electroencephalograph Machines
                          • Electromyography Machines
                          • Intracranial Pressure Monitors
                          • Magnetoencephalography Machines
                          • Transcranial Doppler Machines
                          • Respiratory Monitoring Devices
                            • Capnographs
                            • Peak Flow Meters
                            • Pulse Oximeters
                            • Spirometers
                            • Temperature Monitoring Devices
                              • Handheld Temperature Monitoring Devices
                              • Invasive Temperature Monitoring Devices
                              • Smart Temperature Monitoring Devices
                              • Table-top Temperature Monitoring Devices
                              • Wearable Continuous Monitoring Devices
                              • Weight Monitoring Devices
                                • Analog
                                • Digital
                                • End User
                                  • Ambulatory Surgery Centers
                                  • Home Care Settings
                                  • Hospitals
                                  • Region
                                    • Americas
                                      • Argentina
                                      • Brazil
                                      • Canada
                                      • Mexico
                                      • United States
                                        • California
                                        • Florida
                                        • Illinois
                                        • New York
                                        • Ohio
                                        • Pennsylvania
                                        • Texas
                                        • Asia-Pacific
                                          • Australia
                                          • China
                                          • India
                                          • Indonesia
                                          • Japan
                                          • Malaysia
                                          • Philippines
                                          • Singapore
                                          • South Korea
                                          • Taiwan
                                          • Thailand
                                          • Vietnam
                                          • Europe, Middle East & Africa
                                            • Denmark
                                            • Egypt
                                            • Finland
                                            • France
                                            • Germany
                                            • Israel
                                            • Italy
                                            • Netherlands
                                            • Nigeria
                                            • Norway
                                            • Poland
                                            • Qatar
                                            • Russia
                                            • Saudi Arabia
                                            • South Africa
                                            • Spain
                                            • Sweden
                                            • Switzerland
                                            • Turkey
                                            • United Arab Emirates
                                            • United Kingdom
                                            
                                            
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