A newly released Patient Monitoring Devices Market analysis report by Future Market Insights shows that global sales of Patient Monitoring Devices in 2021 were held at US$ 42.3 Billion. With a CAGR of 10.5% from 2022 to 2032, the market is projected to reach a valuation of US$ 125.2 Billion by 2032. Market revenue through Blood Glucose Monitoring Systems is expected to be the highest, projected to grow at a CAGR of over 12.2% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Patient Monitoring Devices Market (2022) | US$ 46.4 Million |
| Global Patient Monitoring Devices Market (2032) | US$ 125.2 Million |
| Global Patient Monitoring Devices Market CAGR (2022 to 2032) | 10.5% |
| The USA Patient Monitoring Devices Market CAGR (2022 to 2032) | 11.1% |
| Key Companies Profiled |
|
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As per the Patient Monitoring Devices Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Patient Monitoring Devices Market increased at around 8.8% CAGR.
As a part of a value-based care approach, multiple healthcare providers have started to invest in technologies pertaining to remote patient monitoring. Patient monitoring devices aid in the monitoring and management of high-risk patients with chronic conditions that are deemed unstable. It also shortens a patient's stay in the intensive care unit and hospital wards.
The availability of remote monitoring devices with smartphone connectivity, including remote cardiac implants, electromyogram monitors, and blood pressure monitors, is projected to fuel the market expansion. Furthermore, as the demand for greater connectivity and data accessibility grows, medical device companies are investing in enhanced monitoring equipment, which will help the market grow.
Due to a surge in sedentary lifestyles, such as poor nutrition, physical inactivity, and high sugar consumption, the market is expected to develop significantly over the forecast period, leading to various chronic disorders such as obesity, and diabetes.
As the frequency of chronic illnesses such as diabetes, stroke, and kidney disease grows, the requirement for patient monitoring equipment is also expected to surge. The increase in the geriatric population is one of the primary reasons driving the market forward. Furthermore, market growth is also aided by a rise in the number of people who suffer from numerous lifestyle conditions such as cancer and atherosclerosis.
The growing popularity of wearable and remote patient monitoring devices is also propelling the industry forward. Biosensors, wearable patient monitoring devices, and smart implants are utilized across several applications, which include temperature monitoring, continuous glucose monitoring, pulse oximeter, and blood pressure monitoring, to name a few. The IoT is built into the latest generation of wearable devices. Wearable biosensors monitor vital signs such as weight, blood pressure, blood sugar, and electrocardiography, which are sent to a central server via connectivity.
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In 2021, North America led the market for patient monitoring devices, accounting for over 40% of global sales. The increased rate of chronic illnesses, coupled with sophisticated technology, and the demand for mobile and portable solutions to lower out-of-pocket expenditures, are pushing the industry in this field. Major market players such as GE Healthcare, Masimo Corporation, and Edward Lifesciences are also investing in research and development for more advanced patient monitoring device facilities, which will increase the market in the forthcoming years.
The market for patient monitoring devices in Europe is expected to grow at a CAGR of over 12% from 2022 to 2032. In several European countries, the prevalence of chronic diseases is rising. As a result, European countries are updating their healthcare infrastructure in order to serve better and treat their people. The market need for vital sign monitors is expected to grow as the prevalence of chronic diseases rises, the population ages, and infrastructure improves. Furthermore, the growing preference for in-house medical care in Europe is expected to drive market growth during the projection period.
The market in the US is projected to reach a valuation of US$ 48 Billion by 2032. Growing at a CAGR of 11.1% from 2022 to 2032, the market in the country is expected to gross an absolute dollar opportunity of US$ 31.2 Billion.
The market in the country is expected to reach US$ 5.5 Million by 2032. During the forecast period, the market in the country is expected to garner an absolute dollar opportunity of US$ 3.8 Billion from 2022 to 2032.
In Japan, the market is projected to reach US$ 4.7 Billion by 2032. The market in the country is expected to gross US$ 3 Billion in absolute dollar opportunity from 2022 to 2032.
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In 2021, the patient monitoring devices market was dominated by blood glucose monitoring systems. The category is predicted to rise due to rising diabetes incidences, new product launches, and rising usage of blood glucose monitoring devices in emerging countries. Also, it is projected to grow at a CAGR of over 12.2% from 2022 to 2032.
Consumers use glucometers, or portable blood glucose meters to monitor their blood sugar levels, which analyze blood generally from the tip of a finger. Patients with diabetes could learn about their health by checking their blood glucose levels on a regular basis. Monitoring one’s blood glucose levels can enable the doctor, as well as the rest of the healthcare providers, to make essential decisions regarding medication dose, exercise, and food.
Revenue through the hospital segment leads the global market, accounting for a CAGR of more than 10% from 2017 to 2021. The increased emphasis on effective and early disease diagnosis in hospitals and the expanding procedural volume in hospital settings are expected to account for a considerable proportion of the market. As per American Heart Association (AHA), more than 209,000 deaths were reported in medical centers in 2016, with the number expected to climb to nearly 23.6 million by 2030.
Over the projected period, the market through home care settings is expected to increase rapidly. The drive toward mobility and care at the bedside is hastening the development of the next generation of therapeutic, diagnostic, display, and monitoring technology which is more adaptive, and precise.
Honeywell, American Telecare, Roche, Philips Healthcare, Intel, Welch Allyn, Health anywhere Inc., Johnson & Johnson, Bosch, Biotronik, and Covidien Plc are the key players operating in the market.
Some of the recent developments of Patient Monitoring Devices Market key providers are as follows:
The global market is worth more than US$ 42.3 Billion at present.
The market value is projected to increase at a CAGR of around 10.5% from 2022 to 2032.
The market value increased at a CAGR of around 8.8% from 2017 to 2021.
The demand for patient monitoring devices is increasing as the number of chronic diseases such as diabetes, stroke, and renal disease rises. The growing popularity of wearable and remote patient monitoring devices is also propelling the industry forward.
The market in China is projected to expand at a CAGR of around 12% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 10.3%, the market in Japan is projected to register a CAGR of almost 10.5% from 2022 to 2032.
1. Executive Summary | Patient Monitoring Devices Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Regulatory Landscape
3.3.1. By Key Regions
3.3.2. By Key Countries
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Product Type, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product Type, 2022 to 2032
5.3.1. Blood Glucose Monitoring Systems
5.3.1.1. Self-monitoring Blood Glucose Systems
5.3.1.2. Continuous Glucose Monitoring Systems
5.3.2. Cardiac Monitoring Devices
5.3.2.1. ECG Devices
5.3.2.2. Implantable Loop Recorders
5.3.2.3. Event Monitors
5.3.2.4. Mobile Cardiac Telemetry Monitors
5.3.2.5. Smart/Wearable ECG Monitors
5.3.3. Multi-parameter Monitoring Devices
5.3.3.1. Low-acuity Monitoring Devices
5.3.3.2. Mid-acuity Monitoring Devices
5.3.3.3. High-acuity Monitoring Devices
5.3.3.4. Overall
5.3.3.5. Pulse Oximeters
5.3.4. Spirometers
5.3.4.1. Capnography
5.3.4.2. Peak Flow Meters
5.3.5. Temperature Monitoring Devices
5.3.5.1. Handheld Temperature Monitoring Devices
5.3.5.2. Table-top Temperature Monitoring Devices
5.3.5.3. Wearable Continuous Monitoring Devices
5.3.5.4. Invasive Temperature Monitoring Devices
5.3.5.5. Smart Temperature Monitoring Devices
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Product Type, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By End Use, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End Use, 2022 to 2032
6.3.1. Hospitals
6.3.2. Ambulatory Surgery Centers
6.3.3. Home Care Settings
6.3.4. Other End-uses
6.4. Y-o-Y Growth Trend Analysis By End Use, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By End Use, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2021
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. East Asia
7.3.5. South Asia
7.3.6. Oceania
7.3.7. Middle East & Africa (MEA)
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
8.2.1. By Country
8.2.1.1. The US
8.2.1.2. Canada
8.2.2. By Product Type
8.2.3. By End Use
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By End Use
8.4. Key Takeaways
9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Argentina
9.2.1.4. Rest of Latin America
9.2.2. By Product Type
9.2.3. By End Use
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By End Use
9.4. Key Takeaways
10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. Italy
10.2.1.3. France
10.2.1.4. The UK
10.2.1.5. Spain
10.2.1.6. Russia
10.2.1.7. BENELUX
10.2.1.8. Rest of Europe
10.2.2. By Product Type
10.2.3. By End Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By End Use
10.4. Key Takeaways
11. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.2. By Product Type
11.2.3. By End Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By End Use
11.4. Key Takeaways
12. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Thailand
12.2.1.3. Malaysia
12.2.1.4. Indonesia
12.2.1.5. Rest of South Asia
12.2.2. By Product Type
12.2.3. By End Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By End Use
12.4. Key Takeaways
13. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Product Type
13.2.3. By End Use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product Type
13.3.3. By End Use
13.4. Key Takeaways
14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
14.2.1. By Country
14.2.1.1. GCC
14.2.1.2. Rest of MEA
14.2.2. By Product Type
14.2.3. By End Use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product Type
14.3.3. By End Use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. The US
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Product Type
15.1.2.2. By End Use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Product Type
15.2.2.2. By End Use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Product Type
15.3.2.2. By End Use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Product Type
15.4.2.2. By End Use
15.5. Argentina
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Product Type
15.5.2.2. By End Use
15.6. Germany
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Product Type
15.6.2.2. By End Use
15.7. Italy
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Product Type
15.7.2.2. By End Use
15.8. France
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Product Type
15.8.2.2. By End Use
15.9. The UK
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Product Type
15.9.2.2. By End Use
15.10. Spain
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Product Type
15.10.2.2. By End Use
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Product Type
15.11.2.2. By End Use
15.12. BENELUX
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Product Type
15.12.2.2. By End Use
15.13. China
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Product Type
15.13.2.2. By End Use
15.14. Japan
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Product Type
15.14.2.2. By End Use
15.15. South Korea
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Product Type
15.15.2.2. By End Use
15.16. India
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Product Type
15.16.2.2. By End Use
15.17. Thailand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Product Type
15.17.2.2. By End Use
15.18. Malaysia
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Product Type
15.18.2.2. By End Use
15.19. Indonesia
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Product Type
15.19.2.2. By End Use
15.20. Australia
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2021
15.20.2.1. By Product Type
15.20.2.2. By End Use
15.21. New Zealand
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2021
15.21.2.1. By Product Type
15.21.2.2. By End Use
15.22. GCC Countries
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2021
15.22.2.1. By Product Type
15.22.2.2. By End Use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product Type
16.3.3. By End Use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Honeywell
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. American Telecare
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Roche
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Philips Healthcare
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Bosch
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Biotronik
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Intel
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Welch Allyn
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Health Anywhere Inc.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Johnson & Johnson
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
17.1.11. Covidien Plc
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments (Product / Age / Sales Channel / Region)
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.11.5.2. Product Strategy
17.1.11.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Patient Monitoring Devices Market
