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Rising Chronic Disease Prevalence Drives Surge In Patient Monitoring Devices Market: Key Factor Driving The Growth In The Patient Monitoring Devices Market
Patient Monitoring Devices
What Is the Expected Patient Monitoring Devices Market Size During the Forecast Period?
The patient monitoring devices market has experienced strong growth, increasing from $24.76 billion in 2024 to $26.95 billion in 2025 at a CAGR of 8.8%. Growth is attributed to the aging population, regulatory compliance, the increasing need for chronic disease management, healthcare reimbursement, and the growing trend of hospital-at-home services.
The patient monitoring devices market is poised for strong growth, projected to grow to $36.76 billion by 2029 with a CAGR of 8.1%. Drivers include telemedicine, AI integration, connected care models, market expansion, and value-focused services. Trends include wearable monitors, remote tracking, health apps, predictive data use, and home-based kits.
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What Are the High-Growth Segments in the Patient Monitoring Devices Market?
The patient monitoring devices market covered in this report is segmented -
1) By Type: Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices And Equipment, Vital Parameter Monitoring Devices And Equipment, Remote Patient Monitoring Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables
Subsegments:
1) By Fetal And Neonatal Monitoring Devices: Fetal Dopplers, Fetal Monitors, Neonatal ICU Monitors
2) By Weight Monitoring And Body Temperature Monitoring Devices And Equipment: Digital Scales, Thermometers (Digital, Infrared, And Mercury-Free), Body Temperature Monitors
3) By Vital Parameter Monitoring Devices And Equipment: Blood Pressure Monitors, Pulse Oximeters, ECG/EKG Monitors, Cardiac Monitors, Respiratory Rate Monitors
4) By Remote Patient Monitoring Devices And Equipment: Telemedicine Devices, Wearable Monitoring Devices, Home Health Monitoring Devices
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What Key Drivers Are Expected to Influence Future Patient Monitoring Devices Market Growth?
The rising prevalence of chronic diseases is expected to boost the patient monitoring device market. These devices are essential in managing long-term conditions like cancer. The WHO reported in February 2024 that new cancer cases are projected to exceed 35 million by 2050, a 77% increase from 2022, driving demand for patient monitoring solutions.
Which Companies Hold the Largest Share Across Different Patient Monitoring Devices Market Segments?
Major companies operating in the patient monitoring devices market include General Electric Company, Koninklijke Philips NV, Dragerwerk AG & Co KGaA, Cardinal Health Inc., Masimo Corporation, Medtronic plc, Edwards Lifesciences Crop., Flex Ltd., Nihon Kohden Corporation, Abbott Laboratories, Johnson & Johnson, Siemens Healthineers AG, Becton, inson and Company, Cardinal Health Inc., Baxter International Inc., Boston Scientific Corporation, Danaher Corporation, 3M Company, Hill-Rom Holdings Inc., Terumo Corporation, Smith & Nephew plc, B. Braun Melsungen AG, ResMed Inc., Dexcom Inc., Fresenius Medical Care AG & Co. KGaA, Getinge, Mindray Medical International Limited, Nihon Kohden Corporation, Spacelabs Healthcare LLC, Nonin Medical Inc., OSI Systems Inc., Schiller AG, Welch Allyn Inc., OMRON Healthcare Co. Ltd.
What Are the Latest Developing Trends in the Patient Monitoring Devices Market?
Major players in the patient monitoring devices market are focusing on creating innovative solutions like remote patient monitoring (RPM) devices powered by LoRaWAN technology to boost their market profitability. For instance, in January 2023, Senet and Telli Health launched the first RPM hardware utilizing LoRaWAN. This technology allows healthcare providers to extend their reach to remote, underserved areas, including indigenous communities, enhancing healthcare accessibility. The device offers a coverage range of about 10 miles with simple transmission requirements, contributing to healthcare equity.
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What Are the Emerging Geographies for The Patient Monitoring Devices Market Growth?
Asia-Pacific was the largest region in the global patient monitoring devices market in 2023. North America was the second-largest region in the global patient monitoring devices market. The regions covered in the patient monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Patient Monitoring Devices Market?
2. What is the CAGR expected in the Patient Monitoring Devices Market?
3. What Are the Key Innovations Transforming the Patient Monitoring Devices Industry?
4. Which Region Is Leading the Patient Monitoring Devices Market?
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