The report "Patient Monitoring Devices Market by Product (Cardiac monitoring devices, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitor, blood pressure monitors, ECG, ICP, weight Monitoring), User, Customer Unmet Needs- Global Forecast to 2029", is projected to reach USD 71.1 billion by 2029 from USD 48.5 billion in 2024, growing at a CAGR of 8.0% during the forecast period. The expansion of the patient monitoring market is propelled by several synergistic factors, including increasing demand for wireless monitoring solutions, biosensors, the presence of key market players in developing regions, rising public-private investments to support for the clinical research, increasing geriatric patient population, and escalating chronic disorder prevalence.
Browse 215 market data Tables and 55 Figures spread through 250 Pages and in-depth TOC on "Patient Monitoring Devices Market by Product (Cardiac monitoring devices, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitor, blood pressure monitors, ECG, ICP, weight Monitoring), User, Customer Unmet Needs- Global Forecast to 2029"
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Blood Glucose Monitoring systems segment to register a significant growth rate over the forecast period of 2024-2029.
Based on the product, the patient monitoring market is segmented into Blood glucose monitoring system (self-monitoring, continuous glucose monitoring, wearable glucose monitoring), Cardiac Monitoring Devices, Multi-Parameter Monitoring, Respiratory Monitoring Devices, Hemodynamic/ Pressure Monitoring Devices, Weight Monitoring Devices, Fetal & Neonatal Monitoring Devices, Neuromonitoring Devices, Temperature Monitoring Devices and others. It is primarily driven by the exacerbating global prevalence of diabetes. Alarming increases in risk factors like obesity, physical inactivity, and unhealthy dietary habits are leading to a rapid rise in Type 2 diabetes diagnoses worldwide. This translates to a larger population requiring effective blood sugar management solutions. Furthermore, Regular blood glucose monitoring enables the early detection of hyperglycemia (high blood sugar) and hypoglycemia (low blood sugar) episodes. This facilitates timely interventions that can prevent serious and potentially life-threatening complications associated with diabetes.
North America to account for a significant market share in the patient monitoring market in 2023.
Based on region, The patient monitoring market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with North America dominating the market share in 2023. This dominance in North America is propelled by factors such as a growing burden of chronic diseases like diabetes, heart disease, and respiratory illnesses. These conditions require continuous monitoring to manage effectively, leading to increased demand for patient monitoring systems. Furthermore, There's a growing shift towards preventative healthcare in North America. Patient monitoring systems play a crucial role in early disease detection and prevention, leading to improved patient outcomes and reduced healthcare costs in the long run.
As of 2023, prominent players in the patient monitoring market are Medtronic (Ireland), Nihon Kohden Corporation (Japan), Mindray Medical International Ltd. (China), GE Healthcare (US), Abbott Laboratories (US) and Boston Scientific Corporation (US), among others.
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