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Global Patient Monitoring Devices Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035

  • PUBLISHED ON
  • 9/22/2022
  • NO OF PAGES
  • 222
  • CATEGORY
  • Healthcare & Life Sciences

Market Overview:

The global Patient Monitoring Devices Market size was valued at USD 42.0 billion in 2022, and is projected to reach USD 68.1 billion by 2032 at a CAGR of 4.5% from 2022 to 2032. The patient monitoring devices market refers to the segment of the healthcare industry that involves the use of various electronic medical devices to monitor the vital signs and health status of patients. These devices are typically used in hospital settings, but they are also becoming more prevalent in home healthcare environments. Patient monitoring devices can include a wide range of technologies such as electrocardiography (ECG) machines, pulse oximeters, blood pressure monitors, temperature monitors, and respiratory monitors.

Trends in the patient monitoring devices market include:

·         Increased demand for remote patient monitoring: With the growing popularity of telemedicine and remote patient monitoring, there is an increasing need for patient monitoring devices that can transmit data wirelessly to healthcare providers.

·         Advancements in wearable technology: The development of new wearable sensors and devices is leading to greater accuracy and convenience in patient monitoring.

·         Rise in chronic diseases: The increase in chronic diseases such as diabetes and heart disease is driving demand for patient monitoring devices that can help patients manage their conditions.

·         Integration with electronic health records: As electronic health records become more widespread, patient monitoring devices are increasingly being integrated with these systems to provide a more complete picture of patient health.

Driver: Growing prevalence of chronic diseases is propelling Patient Monitoring Devices Market growth.

Chronic diseases such as diabetes, cardiovascular disease, and respiratory diseases are on the rise globally, and they require ongoing monitoring and management. Patient monitoring devices provide healthcare providers with real-time data on patient health, allowing them to make informed decisions about treatment and medication management. Moreover, the aging population is another contributing factor to the growth of the patient monitoring devices market. As people age, they become more susceptible to chronic conditions that require ongoing monitoring. Additionally, elderly patients may have more complex health conditions, and continuous monitoring can help detect and address potential health issues before they become serious.

Furthermore, the COVID-19 pandemic has also accelerated the demand for patient monitoring devices. With the increased need for remote monitoring and telemedicine, patient monitoring devices have become a crucial tool for healthcare providers. These devices enable remote monitoring of patients' health status, reducing the need for in-person visits and minimizing the risk of exposure to the virus. In summary, the increasing prevalence of chronic diseases, aging population, and the COVID-19 pandemic are all driving factors that are contributing to the growth of the patient monitoring devices market.

Segmentation:

By Device type

·         Blood Pressure Monitors

·         Electrocardiography (ECG) Machines

·         Pulse Oximeters

·         Temperature Monitors

·         Respiratory Monitors

·         Others

By Application

·         Cardiac Monitoring

·         Respiratory Monitoring

·         Fetal and Neonatal Monitoring

·         Neurology Monitoring

·         Others

By End-User

·         Hospitals

·         Ambulatory Surgical Centers

·         Home Care Settings

·         Others

Geographical Analysis:

North America currently dominates the patient monitoring devices market. This is primarily due to factors such as the high prevalence of chronic diseases, the increasing adoption of advanced healthcare technologies, and the presence of a large number of key players in the region. Additionally, the increasing demand for remote patient monitoring and the shift towards home healthcare have also contributed to the growth of the patient monitoring devices market in North America. Europe is also a significant market for patient monitoring devices, with increasing investments in healthcare infrastructure and advancements in medical technology driving growth in the region. Moreover, the Asia-Pacific region is expected to see significant growth in the coming years, primarily due to the increasing demand for advanced medical devices, the rising prevalence of chronic diseases, and the increasing healthcare spending in the region. Other regions such as Latin America and the Middle East and Africa are also expected to see growth in the patient monitoring devices market, but at a slower pace compared to other regions due to factors such as limited healthcare infrastructure and lower adoption rates of advanced medical technologies. In conclusion, while North America currently dominates the patient monitoring devices market, there are significant growth opportunities in other regions such as Europe and the Asia-Pacific, driven by factors such as increasing demand for advanced medical technologies and rising healthcare spending.


Impact of COVID-19 on the global Patient Monitoring Devices Market:

The COVID-19 pandemic has had a significant impact on the patient monitoring devices market. With the pandemic leading to a surge in the number of patients needing medical attention, patient monitoring devices have become an essential tool for healthcare providers. Increase in demand for remote patient monitoring: As a result of the pandemic, there has been an increasing demand for remote patient monitoring, which allows healthcare providers to monitor patients remotely, reducing the risk of exposure to the virus. This has led to an increased demand for patient monitoring devices that can transmit data wirelessly to healthcare providers.

·         Shift towards home healthcare: With hospitals becoming overwhelmed with COVID-19 patients, there has been a shift towards home healthcare. Patient monitoring devices that can be used by patients outside of the hospital setting have become increasingly important in managing patients with COVID-19 and other chronic conditions.

·         Acceleration of telemedicine: The pandemic has also accelerated the adoption of telemedicine, with patient monitoring devices playing a critical role in enabling virtual consultations between patients and healthcare providers. This has led to an increased demand for patient monitoring devices that can be integrated with telemedicine platforms.

·         Disruption in supply chains: The pandemic has disrupted global supply chains, leading to shortages of critical components and raw materials needed for the manufacturing of patient monitoring devices. This has resulted in delays in the production and delivery of these devices, leading to supply chain challenges for manufacturers and healthcare providers.

Overall, the COVID-19 pandemic has accelerated the adoption of patient monitoring devices and has highlighted the critical role that these devices play in healthcare delivery. The pandemic has also led to a shift towards remote and home healthcare, which is likely to continue even after the pandemic is over.

Impact of the Russia-Ukraine War on the global Patient Monitoring Devices Market:

The ongoing Russia-Ukraine war has the potential to impact the patient monitoring devices market in several ways. Here are some possible scenarios:

·         Supply chain disruptions: Russia is a significant producer of medical devices, including patient monitoring devices, and Ukraine is a key transit route for goods moving between Russia and Europe. The conflict could disrupt supply chains and cause delays in the production and delivery of patient monitoring devices.

·         Reduced demand: The war could lead to a reduction in demand for patient monitoring devices in the region due to economic instability and reduced access to healthcare facilities. Patients may postpone elective procedures and routine check-ups, leading to a decrease in demand for monitoring devices.

Overall, the impact of the Russia-Ukraine war on the patient monitoring devices market will depend on the duration and intensity of the conflict and the extent of disruption to supply chains and access to healthcare facilities in the region.

Company Profiles:

·         Medtronic plc

·         Philips Healthcare

·         GE Healthcare

·         Nihon Kohden Corporation

·         Welch Allyn (Hill-Rom Holdings)

·         Abbott Laboratories

·         Masimo Corporation

·         Smiths Medical (Smiths Group)

·         Omron Healthcare, Inc.

·         Boston Scientific Corporation

·         Koninklijke Philips N.V.

·         Honeywell International Inc.

·         Baxter International Inc.

·         Johnson & Johnson

·         ResMed Inc.


Why to buy this Report?

Market research: The report provides valuable insights into market trends, growth opportunities, and competitive landscapes. By reading a technology report, businesses and investors can gain a better understanding of Patient Monitoring Devices Market they are operating in or considering entering, and make more informed decisions based on data and analysis.

Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in Patient Monitoring Devices Market.

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Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.


Global Patient Monitoring Devices Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

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Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035


1 Patient Monitoring Devices Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Patient Monitoring Devices
1.3 Patient Monitoring Devices Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Patient Monitoring Devices
1.4.2 Applications of Patient Monitoring Devices
1.5 Market Exchange Rate

2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source

3 Market Competition Analysis
3.1 Dragerwerk Market Performance Analysis
3.1.1 Dragerwerk Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Dragerwerk Sales, Value, Price, Gross Margin 2016-2021
3.2 Spacelabs Healthcare Market Performance Analysis
3.2.1 Spacelabs Healthcare Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Spacelabs Healthcare Sales, Value, Price, Gross Margin 2016-2021
3.3 Medtronic Market Performance Analysis
3.3.1 Medtronic Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Medtronic Sales, Value, Price, Gross Margin 2016-2021
3.4 CONTEC MEDICAL Market Performance Analysis
3.4.1 CONTEC MEDICAL Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 CONTEC MEDICAL Sales, Value, Price, Gross Margin 2016-2021
3.5 Boston Scientific Corporation Market Performance Analysis
3.5.1 Boston Scientific Corporation Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Boston Scientific Corporation Sales, Value, Price, Gross Margin 2016-2021
3.6 St. Jude Medical Market Performance Analysis
3.6.1 St. Jude Medical Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 St. Jude Medical Sales, Value, Price, Gross Margin 2016-2021
3.7 GE Healthcare Market Performance Analysis
3.7.1 GE Healthcare Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 GE Healthcare Sales, Value, Price, Gross Margin 2016-2021
3.8 Nihon Kohden Market Performance Analysis
3.8.1 Nihon Kohden Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Nihon Kohden Sales, Value, Price, Gross Margin 2016-2021
3.9 Mindray Medical Market Performance Analysis
3.9.1 Mindray Medical Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 Mindray Medical Sales, Value, Price, Gross Margin 2016-2021
3.10 Biotronik Market Performance Analysis
3.10.1 Biotronik Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Biotronik Sales, Value, Price, Gross Margin 2016-2021
3.11 CAS Medical Systems Market Performance Analysis
3.11.1 CAS Medical Systems Basic Information
3.11.2 Product and Service Analysis
3.11.3 Strategies for Company to Deal with the Impact of COVID-19
3.11.4 CAS Medical Systems Sales, Value, Price, Gross Margin 2016-2021
3.12 Philips Healthcare Market Performance Analysis
3.12.1 Philips Healthcare Basic Information
3.12.2 Product and Service Analysis
3.12.3 Strategies for Company to Deal with the Impact of COVID-19
3.12.4 Philips Healthcare Sales, Value, Price, Gross Margin 2016-2021

4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Patient Monitoring Devices Production and Value by Type
4.1.1 Global Patient Monitoring Devices Production by Type 2016-2021
4.1.2 Global Patient Monitoring Devices Market Value by Type 2016-2021
4.2 Global Patient Monitoring Devices Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Vital Sign Monitors Market Production, Value and Growth Rate
4.2.2 Blood Pressure Monitor Market Production, Value and Growth Rate
4.2.3 Pulse Oximeters Market Production, Value and Growth Rate
4.3 Global Patient Monitoring Devices Production and Value Forecast by Type
4.3.1 Global Patient Monitoring Devices Production Forecast by Type 2021-2026
4.3.2 Global Patient Monitoring Devices Market Value Forecast by Type 2021-2026
4.4 Global Patient Monitoring Devices Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Vital Sign Monitors Market Production, Value and Growth Rate Forecast
4.4.2 Blood Pressure Monitor Market Production, Value and Growth Rate Forecast
4.4.3 Pulse Oximeters Market Production, Value and Growth Rate Forecast

5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Patient Monitoring Devices Consumption and Value by Application
5.1.1 Global Patient Monitoring Devices Consumption by Application 2016-2021
5.1.2 Global Patient Monitoring Devices Market Value by Application 2016-2021
5.2 Global Patient Monitoring Devices Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Hospitals Market Consumption, Value and Growth Rate
5.2.2 Home Market Consumption, Value and Growth Rate
5.3 Global Patient Monitoring Devices Consumption and Value Forecast by Application
5.3.1 Global Patient Monitoring Devices Consumption Forecast by Application 2021-2026
5.3.2 Global Patient Monitoring Devices Market Value Forecast by Application 2021-2026
5.4 Global Patient Monitoring Devices Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Hospitals Market Consumption, Value and Growth Rate Forecast
5.4.2 Home Market Consumption, Value and Growth Rate Forecast

6 Global Patient Monitoring Devices by Region, Historical Data and Market Forecasts
6.1 Global Patient Monitoring Devices Sales by Region 2016-2021
6.2 Global Patient Monitoring Devices Market Value by Region 2016-2021
6.3 Global Patient Monitoring Devices Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Patient Monitoring Devices Sales Forecast by Region 2021-2026
6.5 Global Patient Monitoring Devices Market Value Forecast by Region 2021-2026
6.6 Global Patient Monitoring Devices Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa

7 United State Market Size Analysis 2016-2026
7.1 United State Patient Monitoring Devices Value and Market Growth 2016-2021
7.2 United State Patient Monitoring Devices Sales and Market Growth 2016-2021
7.3 United State Patient Monitoring Devices Market Value Forecast 2021-2026

8 Canada Market Size Analysis 2016-2026
8.1 Canada Patient Monitoring Devices Value and Market Growth 2016-2021
8.2 Canada Patient Monitoring Devices Sales and Market Growth 2016-2021
8.3 Canada Patient Monitoring Devices Market Value Forecast 2021-2026

9 Germany Market Size Analysis 2016-2026
9.1 Germany Patient Monitoring Devices Value and Market Growth 2016-2021
9.2 Germany Patient Monitoring Devices Sales and Market Growth 2016-2021
9.3 Germany Patient Monitoring Devices Market Value Forecast 2021-2026

10 UK Market Size Analysis 2016-2026
10.1 UK Patient Monitoring Devices Value and Market Growth 2016-2021
10.2 UK Patient Monitoring Devices Sales and Market Growth 2016-2021
10.3 UK Patient Monitoring Devices Market Value Forecast 2021-2026

11 France Market Size Analysis 2016-2026
11.1 France Patient Monitoring Devices Value and Market Growth 2016-2021
11.2 France Patient Monitoring Devices Sales and Market Growth 2016-2021
11.3 France Patient Monitoring Devices Market Value Forecast 2021-2026

12 Italy Market Size Analysis 2016-2026
12.1 Italy Patient Monitoring Devices Value and Market Growth 2016-2021
12.2 Italy Patient Monitoring Devices Sales and Market Growth 2016-2021
12.3 Italy Patient Monitoring Devices Market Value Forecast 2021-2026

13 Spain Market Size Analysis 2016-2026
13.1 Spain Patient Monitoring Devices Value and Market Growth 2016-2021
13.2 Spain Patient Monitoring Devices Sales and Market Growth 2016-2021
13.3 Spain Patient Monitoring Devices Market Value Forecast 2021-2026

14 Russia Market Size Analysis 2016-2026
14.1 Russia Patient Monitoring Devices Value and Market Growth 2016-2021
14.2 Russia Patient Monitoring Devices Sales and Market Growth 2016-2021
14.3 Russia Patient Monitoring Devices Market Value Forecast 2021-2026

15 China Market Size Analysis 2016-2026
15.1 China Patient Monitoring Devices Value and Market Growth 2016-2021
15.2 China Patient Monitoring Devices Sales and Market Growth 2016-2021
15.3 China Patient Monitoring Devices Market Value Forecast 2021-2026

16 Japan Market Size Analysis 2016-2026
16.1 Japan Patient Monitoring Devices Value and Market Growth 2016-2021
16.2 Japan Patient Monitoring Devices Sales and Market Growth 2016-2021
16.3 Japan Patient Monitoring Devices Market Value Forecast 2021-2026

17 South Korea Market Size Analysis 2016-2026
17.1 South Korea Patient Monitoring Devices Value and Market Growth 2016-2021
17.2 South Korea Patient Monitoring Devices Sales and Market Growth 2016-2021
17.3 South Korea Patient Monitoring Devices Market Value Forecast 2021-2026

18 Australia Market Size Analysis 2016-2026
18.1 Australia Patient Monitoring Devices Value and Market Growth 2016-2021
18.2 Australia Patient Monitoring Devices Sales and Market Growth 2016-2021
18.3 Australia Patient Monitoring Devices Market Value Forecast 2021-2026

19 Thailand Market Size Analysis 2016-2026
19.1 Thailand Patient Monitoring Devices Value and Market Growth 2016-2021
19.2 Thailand Patient Monitoring Devices Sales and Market Growth 2016-2021
19.3 Thailand Patient Monitoring Devices Market Value Forecast 2021-2026

20 Brazil Market Size Analysis 2016-2026
20.1 Brazil Patient Monitoring Devices Value and Market Growth 2016-2021
20.2 Brazil Patient Monitoring Devices Sales and Market Growth 2016-2021
20.3 Brazil Patient Monitoring Devices Market Value Forecast 2021-2026

21 Argentina Market Size Analysis 2016-2026
21.1 Argentina Patient Monitoring Devices Value and Market Growth 2016-2021
21.2 Argentina Patient Monitoring Devices Sales and Market Growth 2016-2021
21.3 Argentina Patient Monitoring Devices Market Value Forecast 2021-2026

22 Chile Market Size Analysis 2016-2026
22.1 Chile Patient Monitoring Devices Value and Market Growth 2016-2021
22.2 Chile Patient Monitoring Devices Sales and Market Growth 2016-2021
22.3 Chile Patient Monitoring Devices Market Value Forecast 2021-2026

23 South Africa Market Size Analysis 2016-2026
23.1 South Africa Patient Monitoring Devices Value and Market Growth 2016-2021
23.2 South Africa Patient Monitoring Devices Sales and Market Growth 2016-2021
23.3 South Africa Patient Monitoring Devices Market Value Forecast 2021-2026

24 Egypt Market Size Analysis 2016-2026
24.1 Egypt Patient Monitoring Devices Value and Market Growth 2016-2021
24.2 Egypt Patient Monitoring Devices Sales and Market Growth 2016-2021
24.3 Egypt Patient Monitoring Devices Market Value Forecast 2021-2026

25 UAE Market Size Analysis 2016-2026
25.1 UAE Patient Monitoring Devices Value and Market Growth 2016-2021
25.2 UAE Patient Monitoring Devices Sales and Market Growth 2016-2021
25.3 UAE Patient Monitoring Devices Market Value Forecast 2021-2026

26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia Patient Monitoring Devices Value and Market Growth 2016-2021
26.2 Saudi Arabia Patient Monitoring Devices Sales and Market Growth 2016-2021
26.3 Saudi Arabia Patient Monitoring Devices Market Value Forecast 2021-2026

27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


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Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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