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The global market size of patient monitoring equipment was 21.1 billion US dollars in 2020. The global patient monitoring devices market is expected to grow to USD 41.5 billion in 2030, registering a compound annual growth rate (CAGR) of 4.7% during the forecast period from 2022 to 2030.
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Factors Affecting Market Growth< /h4>
The increasing trend of wireless monitoring devices is a major factor in the market growth. Moreover, the emergence of wearable technology such as smartwatches benefits the market growth.
The increase in chronic disease cases is expected to drive market growth. Moreover, increasing demand for telemedicine systems will also further boost the market growth during the study period.
We anticipate that the growing elderly population, rising medical costs, and growing awareness of regular health checkups will drive market growth. Moreover, the emergence of home healthcare will benefit the global patient monitoring equipment market.
Strict regulatory requirements may hinder the growth of the global patient monitoring device market.
Analysis by region
By region, due to the increase in chronic diseases, North America occupies the largest patient monitoring device market. Also, high healthcare costs in the region play a major role in the growth of the market.
In addition, rising consumer awareness and the increasing adoption of telemedicine systems are also driving the growth of the region in the global patient monitoring equipment market.
The Asia-Pacific region is expected to record the highest growth rate due to rising medical costs, increasing chronic and lifestyle diseases, increasing telemedicine, and increasing consumer awareness.
COVID-19 impact analysis
During the COVID-19 pandemic, demand for patient monitoring equipment surged due to the need for health management. It has become imperative for consumers to undergo regular health check-ups. Therefore, market players have started offering efficient and easy-to-use technologies for home use. Thus, the global patient monitoring equipment market has grown significantly during the pandemic.
Competitors in the market
Becton
Dickinson & Company
STERIS
DXC Technology Company
Cerner Corporation
Allscripts Healthcare Solutions
Omnicell
McKesson Company
GE Healthcare
Optum
Nexus AG
Getinge
Surgical Information Systems
Other influential companies
Market Segments
The global patient monitor market is segmented with a focus on products, end-users and geographies.
Global patient monitoring device market: by product
Blood glucose monitoring system
Self-blood glucose measurement system
Continuous blood glucose level monitoring system
Heart monitoring device
ECG device
Implantable loop recorder
Event monitor
Mobile heart telemetry monitor
Smart/wearable ECG monitor
Multi-parameter monitoring device
Low acuity monitoring equipment
Physico-relaxation monitoring device
High stability monitoring equipment
Respiratory system monitoring equipment
Pulse oximeter
Spirometer
Capnograph
Peak flow meter
Temperature measuring equipment
Handy type temperature measuring instrument
Desktop thermometer
Wearable continuous monitoring device
Invasive temperature monitoring equipment
Smart temperature monitoring device
Hemodynamic/pressure monitoring equipment
Hemodynamic monitor
Blood pressure measuring device
Consumables
Fetal/neonatal monitoring device
Fetal monitoring device
Newborn monitoring device
Neural monitoring equipment
Electroencephalograph
Electromyograph
Cerebral oxygen concentration meter
Intracranial pressure measuring device
Magnetoencephalography device
Transcranial Doppler device
Weight measurement device
Digital
Analog
Other patient monitoring equipment
Global market for patient monitoring devices: by end-user
Hospital
Outpatient surgery center
Home medical facility
Other end users
The global market for patient monitoring devices: by region
North America
United States
Canada
Mexico
Europe
Western Europe
UK
Germany
France
Italy
Spain
Other Western European countries
Eastern Europe
Poland
Russia
Other Eastern European countries
Asia Pacific
China
India
Japan
Australia and New Zealand
ASEAN
Rest of the Asia-Pacific region
Middle East/Africa (MEA)
United Arab Emirates
Saudi Arabia
South Africa
Other MEA regions
South America
Brazil
Argentina
Other regions in South America
