Patient monitoring devices studied for the scope of the report consists of various products and applications. Rising prevalence of chronic diseases such as cardiovascular diseases, diabetes and obesity, increasing number of geriatric population suffering with respiratory diseases. Increasing number of surgical procedures performed and rising inclination towards healthcare monitoring devices and apps to maintain healthy lifestyle has resulted in the deep market penetration for the patient monitoring devices. The limiting factors related to this market are the dearth of skilled workforce to operate the devices, maintaining the tactical complications in the device hardware and software is costly.

In line with the scope of the report, the various products studied consists of vital sign monitors and special monitors. Vital sign monitors are further categorized as blood pressure monitor, heart rate monitor, pulse oximeter, respiratory rate monitor, temperature monitor and brain monitor. Special monitors are further sub segmented as anesthesia monitor, blood glucose monitor, fetal heart monitor, multi parameter monitor and others. Applications studied for the purpose of this research includes cancer treatment, cardiovascular diseases treatment, diabetes treatment, sleep disorder treatment and weight management and fitness monitoring. Market sizing and forecast has been reported for the duration of the report 2015-2025.

For the geography segment the market size and forecast has been reported in the scope of the report.

Porter’s five forces model has been included in the report to understand the business analytics of the patient monitoring devices market. In the company profiles criteria’s such as inception, revenue sales, product portfolio and trending news has been included to understand the competition prevalent among important companies noticed in the patient monitoring devices market. The important players in global patient monitoring devices market are Abbott Laboratories, Inc., Boston Scientific Corporation, BioTelemetry, Inc., GE Healthcare, Medtronic plc, Nihon Kohden, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited and Siemens Healthcare.

The patient monitoring devices market is driven by key factors such as rising prevalence of chronic diseases such as cardiovascular complications, diabetes, asthma and sleep disorders and increasing number of surgical procedures performed. Patient monitoring devices provides consumer satisfaction by giving improved quality of care, better access to healthcare, peace of mind and daily assurance. Presently vital sign monitors dominates the market due to rising prevalence of chronic diseases such as pulmonary diseases, cardiovascular complications etc., real time visualization of patient health and medical parameters which helps in rapid diagnosis and early intervention by the physician. Special monitors will possess favorable growth due to rising surgical procedures requiring anesthesia and unhealthy lifestyle such as craving for incessant smoking, junk food, results in diabetes and lung diseases which requires constant monitoring. The major players in patient monitoring devices market are Abbott Laboratories, Inc., Boston Scientific Corporation, BioTelemetry, Inc., GE Healthcare, Medtronic plc, Nihon Kohden, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited and Siemens Healthcare.

The patient monitoring devices are very useful in providing important real time data such as electrocardiograph, electroencephalograph, inspiratory and expiratory reserve volume etc., which are helpful in the patient health stabilization in intensive care unit. Blood glucose monitoring devices are equipped with healthcare apps which provides useful information such as food, medication, exercise, stress and other factors that affects the blood glucose. Cardiovascular disease treatment provides a lucrative market and currently holds the largest market share due to factors such as rising prevalence of cardiovascular complications, increasing rate of patients opting for angioplasty surgical procedures and ectopic heart beat conditions requires the need for ECG monitoring to prevent sudden cardiac arrest. Weight monitoring and fitness management are anticipated to be the fastest growing market majorly due to factors such as rising prevalence of obesity due to sedentary lifestyle, craving for junk food, lack of exercises etc., increasing public health awareness resulting in deep market penetration of fitness tracking devices and apps which are useful in weight loss program by increasing accountability, motivation and goal settings in order to maintain physical and mental fitness.

Center for Disease Control and Prevention 2015 chronic diseases accounts for 70 % death each year where the treatment accounts for most of the nation’s health care cost. North America is the leader of the patient monitoring devices market due to rising prevalence of chronic diseases due to unhealthy lifestyle, increasing government funding to supplement healthcare facilities with better patient monitoring devices and domicile of key players pioneering in manufacture of patient monitoring devices. The market growth in Europe is mainly attributed to increase in the number of patients suffering with chronic diseases in remote areas e.g. Eastern European countries and presence of manufacturers pioneering in technological advancement in the software and hardware of the patient monitoring devices. Asia Pacific will register an excellent growth due to huge population base suffering with chronic illness requiring immediate medical intervention, flourishing e-commerce industry to promote sales and supportive regulatory environment for patient monitoring devices. Moreover, factors such as developing healthcare infrastructure and establishment of subsidiaries by major players in the untapped markets are going to fuel the rapid growth of patient monitoring devices market in Latin America, and Middle East and Africa in the near future.   

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Patient Monitoring Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Patient Monitoring Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Patient Monitoring Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Patient Monitoring Devices market?
• Which is the largest regional market for Patient Monitoring Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Patient Monitoring Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Patient Monitoring Devices market worldwide?