Steady Expansion Forecast for Patient Monitoring Devices Market, Projected to Reach $36.76 Billion by 2029

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Patient Monitoring Devices Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the market for patient monitoring devices has experienced robust growth in previous years. The growth projection from $24.76 billion in 2024 to $26.95 billion in 2025 signifies a compound annual growth rate (CAGR) of 8.8%. Factors behind growth during the historic period include the aging population, the necessity for regulatory compliance, the management of chronic diseases, healthcare reimbursement, and the shifting trend towards home-based hospital care.

Patient Monitoring Devices Market Size Forecast: What's the Projected Valuation by 2029?
The market size of patient monitoring devices is projected to display robust growth in the coming years. It's estimated to swell to a massive $36.76 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 8.1%. This growth prediction for the period can be ascribed to factors like the rise of telemedicine and remote monitoring, the incorporation of artificial intelligence (AI), the advent of personalized and connected healthcare, the growth of emerging markets, and the shift to value-based care. Key trends expected to dominate the period include wearable health monitoring devices, monitoring of remote vital signs, mobile health applications, predictive analytics, and home health monitoring kits.

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What Are the Drivers Transforming the Patient Monitoring Devices Market?
The rise in chronic disease incidents is anticipated to drive the growth of the patient monitoring device market. Chronic diseases, often lifelong health conditions, typically cannot be completely cured but can be managed effectively. Patient monitoring devices considerably aid this management. For instance, the World Health Organization, a Swiss intergovernmental organization, projected in February 2024 that by 2050, over 35 million new cancer cases would be identified, marking a 77% surge compared to the predicted 20 million cases in 2022. Hence, the escalating incidence of chronic diseases is likely to push the growth of the patient monitoring device market.

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What Long-Term Trends Will Define the Future of the Patient Monitoring Devices Market?
Top firms in the patient monitoring devices market are concentrating efforts on the introduction of breakthrough technologies such as remote patient monitoring (RPM) hardware powered by LoRaWAN technology to bolster their market profitability. LoRaWAN refers to a wireless communication protocol constructed atop the LoRa radio modulation technique. An example of this came in January 2023 when Senet, a provider of cloud-based software services based in the United States, and Telli Health, an American provider of medical remote patient monitoring instruments, unveiled the first-ever RPM hardware using LoRaWAN technology. This advancement will allow healthcare professionals to extend their provision of services to a larger demographic of patients located in remote and underprivileged areas, encompassing indigenous communities globally, thus increasing health equity and inclusiveness. The RPM equipment can be linked to a dedicated private LoRaWAN network that can provide an estimated coverage span of 10 miles, necessitating just a basic dial-up modem for the transfer of health readings.

Which Segments in the Patient Monitoring Devices Market Offer the Most Profit Potential?
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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Which Firms Dominate the Patient Monitoring Devices Market by Market Share and Revenue in 2025?
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, Dickinson 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.

Which Regions Offer the Highest Growth Potential in the Patient Monitoring Devices Market?
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.

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