Germany Patient Care Monitoring Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Germany Patient Care Monitoring Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The German patient care monitoring equipment market is expected to register a CAGR of nearly 7.8% during the forecast period.

The COVID-19 pandemic significantly impacted market growth. The demand for wearable devices and patient monitoring devices has increased during the pandemic period as they have allowed contactless communication and tracking of medical conditions by clinicians. The spread and early diagnosis of COVID-19 could be determined through the remote monitoring of vital signs such as skin and body temperature, respiratory rate, pulse rate, heart rate, and blood oxygen level, which were related to COVID-19. This was expected to have a positive impact on the growth of the market under consideration.For instance, according to an article published by The Lancet Digital Health Journal in April 2022, it had been found that pulse oximetry, is a practical method for determining whether patients need hospital treatment or may be safely handled at home by remotely monitoring their SpO2 levels. Hence, COVID-19 impacted market growth during the pandemic. Moreover, with the rising hospital admissions, the growing burden of chronic diseases, and the increasing adoption of telemedicine, the market for patient monitoring equipment is expected to have stable growth over the post-pandemic era.

Factors such as the rising burden of chronic diseases and technological advancements in products are boosting market growth.

The rising prevalence of chronic diseases in the population, such as cardiovascular, cancer, diabetes, and neurodegenerative diseases, was expected to boost demand for patient care monitoring equipment, propelling market growth.For instance, as per the data published by WHO, as of December 2022, 3,672,615 confirmed cases of COVID-19 were reported in Germany. Thus, the high number of COVID-19 cases among the population was expected to increase the need to monitor oxygen levels, which was expected to increase the demand for pulse oximetry to control the condition of hypoxemia, which in turn is anticipated to fuel the market's growth.

Furthermore, according to the GLOBOCAN 2020 report, approximately 628,519 new cancer cases were reported in Germany in 2020, including 69,697 new cases of breast cancer, 67,959 new cases of prostate cancer, 64,804 new cases of lung cancer, 57,528 new cases of colorectum cancer, 35,147 new cases of bladder cancer, and 333,384 other cancers.Also, as per an article published in BMC Health Services and Research in April 2022, the number of new cancer cases is estimated to increase by 20% by 2030 in Germany. Therefore, the rising incidence of cancer is predicted to increase the adoption of patient care monitoring equipment, which in turn is anticipated to augment market growth over the forecast period.

The rising geriatric population is also contributing to the growth of this market. For instance, as per the data published by the OECD, 18 million people living in Germany were aged 65 or older in 2021, and this number is projected to reach 21 million by 2030. Thus, the aging population, which is more prone to developing chronic diseases that require proper monitoring and diagnosis, is expected to increase the adoption of monitoring devices to regularly monitor their condition and status, thereby propelling the growth of the studied market.

Furthermore, the rising company activities in developing advanced patient care monitoring equipment are expected to increase their demand among consumers, thereby boosting the market's growth. For instance, in December 2021, Xiaomi launched the Redmi Watch 2 Lite smartwatch in the European market, in Germany, for EUR 79 (USD 84.06). It supports several features, including tracking blood oxygen levels, steps taken, and heart rate.

Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period. But the high price of technology is likely to slow the growth of the market for patient care monitoring equipment over the next few years.

The cardiology segment is expected to witness significant growth in the patient care monitoring equipment market in Germany over the forecast period owing to factors such as the rising burden of cardiovascular disease and its risk-associated factors and the growing adoption of cardiac monitoring devices.

Cardiac monitoring is the continuous or intermittent monitoring of heart activity with the goal of assessing the patient's condition in relation to their cardiac rhythm.Additional monitoring components allow cardiovascular pressures and cardiac output to be monitored and displayed as required for patient diagnosis and treatment.

The rising prevalence of hypertension, stroke, diabetes, and other cardiovascular diseases is the key factor driving the demand for cardiac patient monitoring equipment, hence bolstering the segment's growth. For instance, as per the German Heart Surgery 2021 report, about 92,838 heart surgeries were performed in Germany in 2021, including 36,714 isolated heart valve procedures, 27,947 isolated coronary artery bypass grafting procedures, and 329 isolated heart transplantations. Thus, with the high number of cardiovascular surgeries, the patient requires regular and ongoing monitoring, which increases the demand for cardiac patient care equipment. This is anticipated to fuel segment growth over the forecast period.

Furthermore, the rising number of product launches for monitoring and early detection of heart conditions is also expected to bolster market growth. For instance, in September 2021, Withings launched a cardiac monitoring smartwatch, ScanWatch Horizon, in Germany, which includes a slew of heart-health monitoring features such as heart rate, ECG, breathing disturbances, blood oxygen levels, sleep, and physical activity tracking. This watch enables the patient to identify heart rhythms, as well as use the ECG feature to help detect atrial fibrillation.

Because of things like the growing number of people with heart disease and diabetes and the number of new products coming out, the studied segment is expected to grow over the next few years.

The neuromonitoring devices segment is expected to witness significant growth in the patient care monitoring equipment market over the forecast period owing to the factors such as the rising prevalence of neurological disorders such as Parkinson’s, Alzheimer’s, dementia, and others and growing company activities in developing monitoring devices that help in monitoring the brain activity.

The rising burden of neurological diseases among the population is the key factor driving the demand for remote patient monitoring devices. For instance, as stated by the Alzheimer’s Association 2022 report, more than 1.5 million people in Germany were suffering from Alzheimer’s Disease and this number is expected to double by 2050. Additionally, according to an article published in the Neurological Research and Practice, in March 2022, it has been observed that physicians diagnosed 68.9% of German patients and 50% of international patients as having Advanced Parkinson's disease. Thus, the expected increase in the number of people suffering from Alzheimer’s disease and the high number of population suffering from Parkinson’s disease in the country is expected to increase the demand for neuromonitoring devices. This is anticipated to fuel the segment growth over the forecast period.

Moreover, the rising product launches are likely to contribute to the market growth over the forecast period. For instance, in September 2022, Brainlab acquired Dr. Langer Medical GmbH. This acquisition assists the company to expand its neuromonitoring portfolio by integrating advanced next-generation technologies. Also, in May 2021, WISE Srl received the CE marking of its WISE cortical Strip, a single-use medical device intended to be used on the surface of the brain for intraoperative neurophysiological monitoring.

Therefore, owing to the factors such as the rising burden of Alzheimer’s and Parkinson’s disease among the population and increasing product launches, the studied segment is expected to grow over the forecast period.

Germany's patient care monitoring equipment market is fragmented, despite the presence of large players. Some of the key players in the market are Draegerwerk AG, GE Healthcare, Koninklijke Philips NV, Abbott Laboratories, Medtronic Plc, Baxter International Inc., Boston Scientific Corporation, Siemens Healthineers, Biotronik, and Beckton, Dickinson and Company.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support