Global Patient Monitoring Devices Market Size, Study by Product (Blood Glucose Monitoring Systems, Cardiac Monitoring Devices, Multi-parameter Monitoring Devices, Respiratory Monitoring Devices), End-Use (Hospitals, Ambulatory Surgery Centers, Home Care Settings), and Regional Forecasts 2022–2032
The global Patient Monitoring Devices Market was valued at USD 44.91 billion in 2023 and is projected to grow at a CAGR of 8% from 2024 to 2032, reaching USD 89.78 billion by 2032. This rapid growth is driven by advancements in patient monitoring technologies and the increasing prevalence of chronic diseases worldwide. These devices play a crucial role in capturing vital biometric data such as blood pressure, blood glucose levels, and oxygen saturation, enabling better diagnostics and care delivery.
The rising demand for remote patient monitoring has further catalyzed the market's growth. The COVID-19 pandemic highlighted the significance of remote healthcare, encouraging healthcare providers and consumers alike to adopt monitoring devices for in-home use. Key drivers include technological innovations like multi-parameter monitoring devices and AI-powered solutions that provide reliable, cost-effective, and precise health monitoring for patients with chronic illnesses such as diabetes, cardiovascular disorders, and respiratory conditions.
Regional Insights: North America dominated the market in 2022, capturing over 42.2% of global revenue, owing to robust healthcare infrastructure, high adoption of advanced monitoring devices, and the presence of key players like GE Healthcare and Medtronic. Meanwhile, the Asia Pacific region is expected to witness the fastest growth during the forecast period, driven by a rising prevalence of chronic illnesses, increasing healthcare awareness, and advancements in healthcare technology. Countries like China and India, with their large diabetic populations, are contributing significantly to regional growth.
Recent Developments: Key industry players are investing heavily in product innovations and strategic partnerships. For example:
• In April 2023, GE Healthcare launched its CARESCAPE Canvas Patient Monitoring Platform, which enhances scalability and adaptability for various patient conditions.
• In June 2022, Abbott secured FDA approval for its FreeStyle Libre 2, a cutting-edge device offering real-time blood glucose monitoring.
Major market players included in this report are:1. Bosch
2. Biotronik
3. Intel
4. Welch Allyn
5. Health Anywhere Inc.
6. Koninklijke Philips N.V.
7. GE Healthcare
8. Medtronic
9. Masimo Corporation
10. Smiths Medical
The detailed segments and sub-segment of the market are explained below: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
Wearable Continuous Monitoring Devices
• Other Patient Monitoring Devices
By End-Use:
• Hospitals
• Ambulatory Surgery Centers
• Home Care Settings
By Region:
North America:
• U.S.
• Canada
Europe:
• UK
• Germany
• France
• Italy
• Spain
Asia Pacific:
• China
• Japan
• India
Latin America:
• Brazil
• Mexico
• Argentina
Middle East & Africa:
• Saudi Arabia
• South Africa
• UAE
Years considered for the study are as follows:• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways• Market estimates and forecast for 10 years from 2022 to 2032.
• Detailed analysis of product, end-use, and regional segments.
• Competitive landscape with profiles of key players in the industry.
• Strategic insights into growth opportunities and challenges.
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.