The global patient monitoring equipment market was valued at nearly $19.9 billion in 2024 and is projected to grow at a CAGR of 5.7%, reaching nearly $29.4 billion by 2031.
The patient monitoring equipment market includes various devices that continuously or intermittently monitor patients' vital signs and physiological functions.
The market consists of:
Multi-Parameter Vital Signs Monitoring Devices
Wireless Ambulatory Telemetry Monitoring Devices
Remote Patient Monitoring (RPM) Devices
Electromyogram (EMG) Monitoring Devices
Electroencephalogram (EEG) Monitoring Devices
Fetal and Neonatal Monitoring Devices
Pulse Oximetry Monitoring Devices
Cardiac Output Monitoring Devices
Blood Pressure Monitoring Devices
Electrocardiogram (ECG) Monitoring Devices
Temperature Management Devices
Market Insights
Unit Sales & Average Selling Prices
Market Size & Growth Trends
Market Drivers & Limiters
Forecasts Until 2031
Historical Data (2021-2023)
Competitive Analysis
Recent Mergers & Acquisitions
Company Profiles & Product Portfolios
Market Trends
The global patient monitoring equipment market is driven by:
Increasing awareness of continuous monitoring for chronic diseases
Growing adoption of remote patient monitoring (RPM) in both hospitals and home care settings
Rising prevalence of cardiovascular diseases, diabetes, and respiratory conditions
Technological advancements in wireless and portable monitoring devices
However, the market faces saturation in mature regions such as North America and Western Europe, where most installations are replacement sales rather than new purchases.
Market Share Insights
Top Competitors in the Global Patient Monitoring Equipment Market (2024):
1 Philips Healthcare
Market leader with dominance in:
Multi-Parameter Vital Signs Monitoring
Wireless Ambulatory Telemetry Monitoring
Fetal and Neonatal Monitoring
Philips leverages its strong global brand and capital resources to maintain its leadership position across multiple market segments.
2 Medtronic
Second-leading competitor due to its top position in:
Remote Patient Monitoring (RPM), the largest segment in the market
Pulse Oximetry Monitoring
3 GE Healthcare
Third-leading competitor with a strong presence in:
Multi-Parameter Vital Signs Monitoring
Wireless Ambulatory Telemetry Monitoring
Blood Pressure Monitoring
Electrocardiogram (ECG) Monitoring
Global Research Scope
Regions Covered:
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, etc.
Western Europe: U.K., Germany, France, Spain, Italy, etc.
Central & Eastern Europe: Russia, Poland, Turkey, etc.
Middle East: Saudi Arabia, UAE, Israel, etc.
Asia Pacific: China, Japan, India, Australia, etc.
Africa: South Africa, Nigeria, Egypt, etc.
Base Year: 2024
Forecast Period: 2025-2031
Historical Data: 2021-2023
Quantitative Coverage
Market Size
Market Shares
Market Growth Rates
Units Sold
Average Selling Prices
Qualitative Coverage
COVID-19 Impact
Market Growth Trends
Market Limiters
Competitive Analysis & SWOT for Top Competitors
Mergers & Acquisitions
Company Profiles
Product Portfolios
FDA Recalls
Disruptive Technologies
Disease Overviews
Data Sources
Primary Interviews with Industry Leaders
Government & Regulatory Data
Hospital Private Data
Import & Export Data
iData Research Internal Database
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