Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Patient Monitoring Devices Market size was over USD 58.28 billion in 2024 and is poised to exceed USD 154.73 billion by 2037, witnessing over 7.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of patient monitoring devices is evaluated at USD 62.14 billion.
The market is anticipated to show significant growth on account of the increasing ageing population and the growing requirement for monitoring health conditions of the patients suffering from various chronic diseases such as cardiovascular diseases, diabetes mellitus, and others. The market's growth can also be attributed to factors such as the increasing awareness and concerns regarding monitoring health parameters and vital signs globally.
Patient Monitoring Devices Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Adoption of Remote Patient Monitoring Devices
- Increasing Geriatric Population in the World
Challenges
- High Cost and Limed Awareness about the Devices
Patient Monitoring Devices Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.8% |
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Base Year Market Size (2024) |
USD 58.28 billion |
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Forecast Year Market Size (2037) |
USD 154.73 billion |
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Regional Scope |
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Patient Monitoring Devices Segmentation
The patient monitoring devices market is segmented on the basis of products into blood glucose monitoring devices, cardiac monitoring devices, respiratory monitoring devices, fetal & neonatal monitoring devices, neuro-monitoring devices, multi-parameter monitoring devices and others, out of which, the cardiac monitoring devices segment is expected to grab the largest market share on account of the increasing number of incidences of cardiovascular diseases globally. Furthermore, based on end-users, the hospital & clinics segment is projected to hold the largest share in the global patient catre monitoring devices market during the forecast period on the back of the increasing patient influx owing to the rise in number of diseases worldwide.
Our in-depth analysis of the global market includes the following segments
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By Product |
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By End-Users |
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Customize this ReportPatient Monitoring Devices Industry - Regional Synopsis
Asia Pacific industry is expected to account for largest revenue share by 2037, on account of growing burden of chronic diseases in the region. Additionally, the rising geriatric population in Asian countries is expected to lead to a rise in requirements for patient care monitoring devices.
North America Market Analysis
Furthermore, the patient care monitoring devices market in North America is evaluated to grab a notable share over the forecast period, which can primarily be attributed to the region's robust healthcare infrastructure. Alternatively, the market in Europe is also anticipated to conquer a significant share in the market on account of its increasing investment for product development in the medical industry.
Companies Dominating the Patient Monitoring Devices Landscape
- General Electric Company
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Abbott Laboratories
- Medtronic Plc
- Masimo Corporation
- OMRON Corporation
- Boston Scientific Corporation
- BioTelemetry, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Koninklijke Philips N.V.
In the News
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July 2020: Medtronic Plc, announced that they have received U.S. Food and Drug Administration (FDA) approval and CE (Conformité Européenne) Mark clearance for its new cardiac patient monitoring device.
Author Credits: Radhika Pawar
- Report ID: 3279
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
