Patient Monitoring Devices Market Forecast Report 2029

The report will help the new entrants/ market leaders/smaller firms in this market with investment evaluation viability within the patient monitoring market through a thorough analysis of comprehensive data, thereby facilitating robust risk assessment and enabling well-informed investment determinations.
Patient Monitoring Devices Market [https://www.marketsandmarkets.com/Market-Reports/patient-healthcare-monitoring-systems-devices-market-678.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] The global patient monitoring devices market, valued at US$45.7 billion in 2022, stood at US$48.5 billion in 2024 and is projected to advance at a resilient CAGR of 8.0% from 2024 to 2029, culminating in a forecasted valuation of US$71.1 billion by the end of the period. This growth is driven by factors such as the increasing prevalence of chronic disorders, an aging population, advancements in healthcare technology, and the rising adoption of wireless monitoring devices. Major companies in this market include Medtronic, GE Healthcare, Philips Healthcare, Nihon Kohden, Abbott Laboratories, and Mindray Medical. Key product segments are blood glucose monitoring systems, cardiac monitoring devices, multi-parameter monitoring, respiratory monitoring, hemodynamic monitoring, weight monitoring, fetal & neonatal monitoring, neuromonitoring, and temperature monitoring devices.

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.

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Patient Monitoring Devices Market Scope:

Report Coverage

Details

Market Revenue in 2024

$48.5 billion

Estimated Value by 2029

$71.1 billion

Growth Rate

Poised to grow at a CAGR of 8.0%

Market Size Available for

2022-2029

Forecast Period

2024-2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product, End User and Region

Geographies Covered

North America, Europe, Asia Pacific, Latin America and Middle East & Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Artificial Intelligence (AI) Integration - growth opportunities

Key Market Drivers

Increase adoption of wireless monitoring devices

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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.

Patient Monitoring Devices Market - Key Benefits of Buying the Report:

The report will help the new entrants/ market leaders/smaller firms in this market with investment evaluation viability within the patient monitoring market through a thorough analysis of comprehensive data, thereby facilitating robust risk assessment and enabling well-informed investment determinations. Benefit from meticulous market segmentation encompassing end-user, and regional dimensions, affording tailored insights for precise segment targeting. The report also provides an all-encompassing evaluation of encapsulating pivotal trends, challenges, growth catalysts and prospects, thereby empowering strategic decision-making with astute discernment.

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