Germany Patient Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Germany Patient Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Germany Patient Monitoring Market is expected to witness a CAGR of 6.4% during the forecast period (2022 - 2027).

The COVID-19 pandemic has significantly impacted market growth. The demand for wearable devices and patient monitoring devices has increased during the pandemic period as they allow contactless communication and tracking of medical conditions by clinicians. The spread and early diagnosis of COVID-19 can 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 are related to COVID-19. This is anticipated to have a positive effect on the growth of the studied market. For instance, according to an article published by The Lancet Digital Health Journal, in April 2022, titled "Effectiveness and safety of pulse oximetry in remote patient monitoring of patients with COVID-19: a systematic review", it has 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 has impacted the market growth.

Certain factors that are propelling the market growth are the rising burden of chronic diseases due to lifestyle changes and the growing preference for home and patient monitoring.

The increasing prevalence of chronic diseases such as cardiovascular, cancer, diabetes, and neurodegenerative diseases among the population is expected to increase the demand for patient monitoring systems, thereby propelling market growth. For instance, according to GLOBOCAN, in 2020, there were around 628,519 new cancer cases in Germany, with 69,697 new cases of breast cancer, 67,959 prostate cancer, 64,804 lung cancer, 57,528 colorectum cancer, 35,147 bladder cancer, and 333,384 other cancers. Additionally, as stated by the Alzheimer’s Association, in the year 2021, more than 1.6 million people in Germany were suffering from Alzheimer’s Disease. Thus, the rising burden of chronic diseases is expected to increase the demand for patient monitoring devices such as glucometers, blood pressure machines, and others which are expected to augment the market growth.

Other factors, such as continuous product development and commercialization, and strengthening distribution channels of major product manufacturers are expected to aid the growth of the German patient monitoring market. For instance, in December 2021, Xiaomi launched Redmi Watch 2 Lite smartwatch in the European market, Germany for EUR 79. It supports several features, including tracking blood oxygen levels, steps taken, and heart rate. Also, in April 2020, Withings launched the latest sleep-tracking device, Sleep Analyzer, a mat that can be used to detect sleep apnea. The device analyzes sleep and snoring episodes by using its advanced sensors when placed underneath a mattress.

However, the high cost of technology is expected to hinder market growth over the forecast period.

Key Market TrendsRemote Patient Monitoring Devices Segment Expects to Register a High CAGR in the Germany Patient Monitoring Market Over the Forecast Period

Remote patient monitoring (RPM) devices allow providers to monitor, report and analyze their patient’s acute or chronic conditions from outside the hospital or clinic setting. They enable the practitioner to have a real-time understanding of the patient's disease state and take preventative clinical actions. The remote patient monitoring segment is expected to witness significant growth over the forecast period owing to the factors such as the rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, hypertension, respiratory diseases, neurological diseases, and others, rising adoption of these devices, and growing geriatric population.

The rising burden of chronic diseases among the population and the rising geriatric population is the key factor driving the demand for remote patient monitoring devices. For instance, the high blood sugar caused by diabetes can damage the nerves that control the heart and blood vessels, leading to a variety of cardiovascular diseases like coronary artery disease and stroke, which can narrow the arteries. Also, according to the 2022 statistics published by the United Nations Population Fund, in Germany, a large proportion of the living population is aged 15-64 and accounts for 64% in 2022. In addition, as per the same source, 22% of the population is aged 65 years and above in 2022. Thus, the expected increase in the geriatric population who are more prone to develop chronic diseases is expected to increase the demand for remote patient monitoring devices as well as increase the adoption of these wearable devices due to their easy usage.

Furthermore, the implementation of RPM can improve the management of chronic diseases by measuring critical risk indicators, such as glucose, blood pressure, etc. RPM has various benefits for end-users and hospitals, such as low cost of healthcare, reduction in extended hospitalization, and fewer doctor appointments, among others. This can also help to reduce the cost associated with the treatment of chronic diseases.

Moreover, the rising company activities and product launches in the country are also expected to propel market growth over the forecast period. For instance, in September 2021, Withings launched a new smartwatch, the ScanWatch Horizon, which includes a slew of heart-health monitoring features such as heart rate, ECG, breathing disturbances, blood oxygen levels, sleep, and physical activity tracking. The watch enables the users to identify heart rhythms, as well as the ECG feature to help detect atrial fibrillation.

Thus, owing to the aforementioned factors, the remote patient monitoring segment is expected to grow in Germany over the forecast period.

Competitive Landscape

The Germany patient monitoring market is moderately competitive and consists of several major players. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships that help in strengthening their market positions. Some of the key players in the market are Abbott Laboratories, GE Healthcare, Boston Scientific Corporation, Johnson & Johnson, Boston Scientific Corporation, Siemens Healthcare GmbH and Koninklijke Philips NV.

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