Soaring Demand Set to Propel Digital Health Monitoring Devices Market to $16.77 Billion by 2029

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What Is the Expected CAGR for the Digital Health Monitoring Devices Market Through 2025?
The market for digital health monitoring devices has experienced swift growth in recent years. The market is predicted to expand from $6.58 billion in 2024 to $7.75 billion in 2025, with a compound annual growth rate (CAGR) of 17.7%. The unprecedented growth during the historic period is a result of clinical research and evidence-supported practices, progress in regulatory frameworks, patient involvement and empowerment, and the incorporation of the Internet of Things (IoT).

What's the Projected Size of the Global Digital Health Monitoring Devices Market by 2029?
In anticipation of the coming years, substantial growth is expected in the market size of digital health monitoring devices. By 2029, it's projected to surge to $16.77 billion, boasting a compound annual growth rate (CAGR) of 21.3%. Several factors can contribute to this predicted rise in the forecast period including an increasing prevalence of chronic diseases, patient-centric care, self-management strategies, emphasis on preventative healthcare, as well as an increased awareness and focus on health and fitness. There's also the aspect of remote diagnostics and decision-making support. Throughout the forecast period, we will witness the advancements in technology such as wearable tech, remote patient monitoring (RPM), the increasing adoption of telemedicine and telehealth, and the integration of the Internet of Things (IoT).

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Top Growth Drivers in the Digital Health Monitoring Devices Industry: What's Accelerating the Market?
The upsurge in the global desire for remote health inspection technologies is predicted to energize the expansion of the digital health monitoring device market for the foreseeable future. Remote monitoring devices, which are used medically to capture and update patients' health at home, facilitate medical practitioners to digitally register and supervise their patient's medical and health data for review, recommendations and guidelines. For example, in June 2022, the Department of Health and Social Care, a governmental department based in the UK, stated that by March 2023, an extra 500,000 individuals may take advantage of remote monitoring. In the previous year, more than 280,000 people with enduring conditions have already adopted remote monitoring practices at home and in nursing homes. Consequently, the growing interest in remote monitoring technology paves the way for the upturn of the digital health monitoring devices market.

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What Trends Will Shape the Digital Health Monitoring Devices Market Through 2029 and Beyond?
The surge in technological advancements represents a rising trend in the digital health monitoring devices sector. Firms within this market are harnessing clinical innovation to observe patients' health and boost their competitive positioning. Take for example, a US company Prevounce Health, known for its remote care management software, devices, and services, unveiled the Pylo GL1-LTE remote blood glucose monitoring product in June 2024. This clinically approved blood glucose meter facilitates reliable data transmission across multiple US cellular networks and is integrated with the Prevounce remote care management platform. Additionally, it can seamlessly connect with other health software via the Pylo cloud API. As part of Prevounce's Pylo line, that also includes cellular-connected blood pressure monitors and weight scales, the GL1-LTE is crafted specifically for patients enlisted in remote patient monitoring (RPM) programs for diabetes. Leveraging roaming 4G connectivity, the device does not need any set-up and ensures secure transmission of real-time readings to healthcare teams.

What Are the Main Segments in the Digital Health Monitoring Devices Market?
The digital health monitoring devicesmarket covered in this report is segmented -

1) By Type: Tele-Health, EHR Or EMR, M-Health, Wireless Health, Remote Patient Monitoring
2) By Product Type: Device, Software, Services, Other Products
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Homecare Settings, Other End-users

Subsegments:
1) By Tele-Health: Video Consultation Tools, Telemedicine Platforms, Remote Diagnosis Systems
2) By EHR Or EMR (Electronic Health Records Or Electronic Medical Records): Cloud-Based EHR Or EMR Solutions, On-Premises EHR Or EMR Solutions, Interoperability Tools
3) By M-Health (Mobile Health): Health And Fitness Apps, Mobile Patient Engagement Tools, Medication Management Apps
4) By Wireless Health: Wireless Health Monitoring Devices, Wearable Health Trackers, Wireless Patient Communication Devices
5) By Remote Patient Monitoring: Home Monitoring Devices, Chronic Disease Management Tools, Wearable Biosensors

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Which Top Companies are Driving Growth in the Digital Health Monitoring Devices Market?
Major companies operating in the digital health monitoring devices market are Philips Healthcare, Medtronic, GE Healthcare, Abbott Laboratories, Omron Healthcare, Fitbit (now part of Google), Garmin, Dexcom, Withings, Apple Inc., Masimo Corporation, iHealth Labs, AliveCor, Qardio, Huawei Technologies, Xiaomi Inc., Polar Electro, ResMed, Boston Scientific, Biotronik, Becton, Dickinson and Company (BD), Nihon Kohden, Siemens Healthineers, Mindray, Spacelabs Healthcare, Schiller AG, Nonin Medical, Honeywell Life Sciences

Which Regions Will Dominate the Digital Health Monitoring Devices Market Through 2029?
North America was the largest region in the digital health monitoring devices market share in 2024. The regions covered in the digital health monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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