Digital Patient Monitoring Devices Market To Reach US$ 403.3 Billion By 2028 And Compound Annual Growth Rate of 24% | Says, IMARC Group

PRESS RELEASE

Published April 19, 2023

How Big is the Digital Patient Monitoring Devices Market ? :

IMARC Group’s latest report, titled “Digital Patient Monitoring Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global digital patient monitoring devices market size reached US$ 103.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 403.3 Billion by 2028, exhibiting a growth rate (CAGR) of 24% during 2023-2028.

Digital Patient Monitoring Devices Uses:

Digital patient monitoring devices are modern tools that are designed to track and monitor patients' health parameters and vitals in real-time. They are intended to improve the quality of patient care by providing accurate and timely information to healthcare providers, which can aid in diagnosing, treating, and preventing potential health issues. They can range from simple wearable devices, such as fitness trackers and smartwatches, to more advanced medical-grade equipment, such as an electrocardiogram (ECG) machines, blood pressure monitors, and pulse oximeters. Additionally, they utilize sensors and other advanced technologies to measure various health metrics, including heart rate, blood pressure, respiratory rate, oxygen saturation, glucose levels, and more. The data collected by them can be transmitted wirelessly to healthcare providers, who can then use the information to make informed decisions about a patient's care.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

Abbott Laboratories
AT&T Inc
Athenahealth Inc
F. Hoffmann-La Roche AG
General Electric Company
Hill-Rom Holdings Inc. (Baxter International Inc.)
Johnson & Johnson
Koninklijke Philips N.V
Medtronic plc
Nihon Kohden Corporation
OMRON Corporation
ResMed

Digital Patient Monitoring Devices Market Future Demand, Research and Development:

Significant growth in the healthcare industry majorly drives the global market. This can be supported by the rising demand for continuous monitoring devices and the increasing prevalence of chronic medical ailments, such as hypertension, asthma, blood pressure, and diabetes. Along with this, the growing demand for various sensor-based wearable monitoring devices, such as continuous glucose monitors, which track blood sugar levels in real-time and transmit the data electronically to medical practitioners, is significantly supporting the market.

In addition, the rising demand for in-home care settings due to the COVID-19 pandemic is also positively influencing the demand. Moreover, continual technological advancements, particularly the introduction of smart digital patient monitoring devices that quickly analyze common physiological parameters, are creating a positive market outlook. Some of the other factors driving the market include rising consumer expenditure capacity and extensive research and development (R&D).

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Key Market Segmentation:

Breakup by Monitoring Type:

Wireless Sensor Technology
mHealth
Telehealth
Wearable Devices
Remote Patient Monitoring

Breakup by Product:

Diagnostic Monitoring Devices

Vital Sign Monitors
Sleep Monitors
Fetal Monitors
Neuromonitors
Others

Therapeutic Monitoring Devices

Insulin Monitors
Respiratory Monitors
Others

Breakup by End User:

Hospitals
Home Settings
Ambulatory Surgical Centers (ASC)

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Related Repot By IMARC Group:

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