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 USD 42.3 Billion. With a CAGR of 10.5% from 2022 to 2032, the market is projected to reach a valuation of USD 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) | USD 46.4 Million |
| Global Patient Monitoring Devices Market (2032) | USD 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 | Honeywell; American Telecare; Roche; Philips Healthcare; Bosch; Biotronik; Intel; Welch Allyn; Health Anywhere Inc.; Johnson & Johnson; Covidien Plc |
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.
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.
USA Patient Monitoring Devices Market Analysis The market in the USA is projected to reach a valuation of USD 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 USD 31.2 Billion. The UK Patient Monitoring Devices Market Analysis The market in the country is expected to reach USD 5.5 Million by 2032.
During the forecast period, the market in the country is expected to garner an absolute dollar opportunity of USD 3.8 Billion from 2022 to 2032. Japan Patient Monitoring Devices Market Analysis In Japan, the market is projected to reach USD 4.7 Billion by 2032. The market in the country is expected to gross USD 3 Billion in absolute dollar opportunity from 2022 to 2032.
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:
Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032
Table 2: Global Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 3: Global Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Table 4: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 5: North America Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 6: North America Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Table 7: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 8: Latin America Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 9: Latin America Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Table 10: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 11: Europe Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 12: Europe Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Table 13: East Asia Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 14: East Asia Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 15: East Asia Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Table 16: South Asia Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 17: South Asia Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 18: South Asia Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Table 19: Oceania Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 20: Oceania Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 21: Oceania Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Table 22: MEA Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 23: MEA Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 24: MEA Market Value (US$ Million) Forecast by End Use, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by End Use, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032
Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 7: Global Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 8: Global Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 9: Global Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 10: Global Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 11: Global Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 12: Global Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 13: Global Market Attractiveness by Product Type, 2022 to 2032
Figure 14: Global Market Attractiveness by End Use, 2022 to 2032
Figure 15: Global Market Attractiveness by Region, 2022 to 2032
Figure 16: North America Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 17: North America Market Value (US$ Million) by End Use, 2022 to 2032
Figure 18: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 19: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 22: North America Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 23: North America Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 24: North America Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 25: North America Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 26: North America Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 27: North America Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 28: North America Market Attractiveness by Product Type, 2022 to 2032
Figure 29: North America Market Attractiveness by End Use, 2022 to 2032
Figure 30: North America Market Attractiveness by Country, 2022 to 2032
Figure 31: Latin America Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 32: Latin America Market Value (US$ Million) by End Use, 2022 to 2032
Figure 33: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 34: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 37: Latin America Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 38: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 40: Latin America Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 41: Latin America Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 42: Latin America Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 43: Latin America Market Attractiveness by Product Type, 2022 to 2032
Figure 44: Latin America Market Attractiveness by End Use, 2022 to 2032
Figure 45: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 46: Europe Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 47: Europe Market Value (US$ Million) by End Use, 2022 to 2032
Figure 48: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 49: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 50: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 51: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 52: Europe Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 53: Europe Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 54: Europe Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 55: Europe Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 56: Europe Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 57: Europe Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 58: Europe Market Attractiveness by Product Type, 2022 to 2032
Figure 59: Europe Market Attractiveness by End Use, 2022 to 2032
Figure 60: Europe Market Attractiveness by Country, 2022 to 2032
Figure 61: East Asia Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 62: East Asia Market Value (US$ Million) by End Use, 2022 to 2032
Figure 63: East Asia Market Value (US$ Million) by Country, 2022 to 2032
Figure 64: East Asia Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 65: East Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 66: East Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 67: East Asia Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 68: East Asia Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 69: East Asia Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 70: East Asia Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 71: East Asia Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 72: East Asia Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 73: East Asia Market Attractiveness by Product Type, 2022 to 2032
Figure 74: East Asia Market Attractiveness by End Use, 2022 to 2032
Figure 75: East Asia Market Attractiveness by Country, 2022 to 2032
Figure 76: South Asia Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 77: South Asia Market Value (US$ Million) by End Use, 2022 to 2032
Figure 78: South Asia Market Value (US$ Million) by Country, 2022 to 2032
Figure 79: South Asia Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 80: South Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 81: South Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 82: South Asia Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 83: South Asia Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 84: South Asia Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 85: South Asia Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 86: South Asia Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 87: South Asia Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 88: South Asia Market Attractiveness by Product Type, 2022 to 2032
Figure 89: South Asia Market Attractiveness by End Use, 2022 to 2032
Figure 90: South Asia Market Attractiveness by Country, 2022 to 2032
Figure 91: Oceania Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 92: Oceania Market Value (US$ Million) by End Use, 2022 to 2032
Figure 93: Oceania Market Value (US$ Million) by Country, 2022 to 2032
Figure 94: Oceania Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 95: Oceania Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 96: Oceania Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 97: Oceania Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 98: Oceania Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 99: Oceania Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 100: Oceania Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 101: Oceania Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 102: Oceania Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 103: Oceania Market Attractiveness by Product Type, 2022 to 2032
Figure 104: Oceania Market Attractiveness by End Use, 2022 to 2032
Figure 105: Oceania Market Attractiveness by Country, 2022 to 2032
Figure 106: MEA Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 107: MEA Market Value (US$ Million) by End Use, 2022 to 2032
Figure 108: MEA Market Value (US$ Million) by Country, 2022 to 2032
Figure 109: MEA Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 110: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 111: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 112: MEA Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 113: MEA Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 114: MEA Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 115: MEA Market Value (US$ Million) Analysis by End Use, 2017 to 2032
Figure 116: MEA Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 117: MEA Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 118: MEA Market Attractiveness by Product Type, 2022 to 2032
Figure 119: MEA Market Attractiveness by End Use, 2022 to 2032
Figure 120: MEA Market Attractiveness by Country, 2022 to 2032
The global market is worth more than USD 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.
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Patient Monitoring Devices Market
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