The patient monitoring devices market is projected to reach USD 55.1 billion by 2025 from USD 36.4 billion in 2020, at a CAGR of 8.6% during the forecast period.
Growth of the market is mainly attributed to the technological advancements; increasing incidences of infectious diseases, and growing public and private investments, funding, and grants are driving the global patient monitoring devices market. However, complex regulatory frameworks that delay the approval of new patient monitoring devices is expected to challenge market growth to a certain extent.
In terms of products, blood glucose monitoring systems segment to register significant growth during the forecast period.
Based on the product, the patient monitoring devices market is segmented into blood glucose monitoring systems, cardiac monitoring devices, multiparameter monitoring devices, respiratory monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, fetal and neonatal monitoring devices, neuromonitoring devices, weight monitoring devices and other patient monitoring devices. Significant growth of the segment is attributed to the ongoing product approval of continuous glucose monitoring systems, advantages offered by continuous glucose monitoring systems over self-monitoring blood glucose systems, and technological advancements in the market. Continuous glucose monitoring systems offer a wide range of advantages over self-monitoring blood glucose systems, such as reduced cost, shortened detection time, and non-invasive detection. These advantages offered by the continuous glucose monitoring systems have led to the growth of this segment.
Hospitals segment is expected to account for the largest share of the patient monitoring devices market, by the end user
On the basis of end-users, the patient monitoring devices market has been segmented into hospitals, ambulatory surgery centers, home care settings and other end users. The growth of this segment is attributed to the significant number of availability of state-of-the-art facilities for diagnosis, treatment, and disease management, as well as trained personnel, has ensured a steady demand for hospital-based care and the growing number of hospitals across major markets. The inflow of patients is considerably higher in hospitals as compared to other healthcare settings, which is another key driver for market growth. More screening and diagnostic procedures are conducted in hospitals than in other medical facilities, contributing to the large share of this end-user segment.
Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the heavy burden of infectious diseases, rising healthcare expenditure, and increasing geriatric population. Apart from this, the rising number of hospitals and ambulatory surgical centers in the APAC region is expected to propel the market for patient monitoring devices. Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Patient Monitoring Devices Market Overview 4.2 Patient Monitoring Devices Market, by Product 4.3 Geographic Analysis: Patient Monitoring Devices Market, by Country/Region 65 4.4 Patient Monitoring Devices Market Share, by End-user 4.5 Geographical Snapshot of the Patient Monitoring Devices Market
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 Technological Advancements in Patient Monitoring Devices 22.214.171.124.1 User-Centric Design for Wearable Devices 126.96.36.199.2 Non-Invasive Hemodynamic Monitoring 188.8.131.52.3 Digital Sensors 184.108.40.206.4 Mobile-Grade Eeg Devices 220.127.116.11 Rising Prevalence of Chronic Diseases 18.104.22.168 Availability of Wireless Monitoring Devices 22.214.171.124 Growing Preference for Wearable Patient Monitoring Devices, Biosensors, and Smart Implants Among Healthcare Payers 126.96.36.199 Growing Investments, Funds, and Grants 5.2.2 Restraints 188.8.131.52 Risks Associated with Invasive Monitoring Devices 184.108.40.206 High Cost of Patient Monitoring Products and Inadequate Reimbursement 5.2.3 Opportunities 220.127.116.11 Increasing Demand for Non-Invasive and Minimally Invasive Devices 18.104.22.168 Growing Demand for Patient Monitoring Devices in Non-Hospital Settings 5.2.4 Challenges 22.214.171.124 Lack of Skilled Healthcare Professionals 126.96.36.199 Increasing Pricing Pressure on Market Players 5.3 Value Chain Analysis 5.4 Regulatory Analysis 5.4.1 North America 188.8.131.52 US 184.108.40.206 Canada 5.4.2 Europe 5.4.3 Asia-Pacific 220.127.116.11 Japan 18.104.22.168 China 22.214.171.124 India 5.5 COVID-19 Impact on the Patient Monitoring Devices Market
6 Patient Monitoring Devices Market, by Product 6.1 Introduction 6.2 Blood Glucose Monitoring Systems Market 6.2.1 Introduction 6.2.2 Self-Monitoring Blood Glucose Systems 126.96.36.199 Rising Adoption of Integrated Glucose Monitoring Systems to Drive Growth in this Market 6.2.3 Continuous Glucose Monitoring Systems 188.8.131.52 Growing Product Launches & Approvals and Evolving Reimbursement Scenario for Continuous Glucose Monitoring Systems Will Drive Market Growth 6.3 Cardiac Monitoring Devices Market 6.3.1 Introduction 6.3.2 Ecg Devices 184.108.40.206 Low Cost and Wide Applications of Ecg Devices to Drive Market Growth 6.3.3 Implantable Loop Recorders 220.127.116.11 High Cost and Limited Applications Limit the Growth of this Market Segment to a Certain Extent 6.3.4 Event Monitors 18.104.22.168 Emergence of Portable and Wireless Event Monitors to Drive Market Growth 6.3.5 Mobile Cardiac Telemetry Monitors 22.214.171.124 Availability of Alternate Technologies Likely to Hinder Market Growth 6.3.6 Smart/Wearable Ecg Monitors 126.96.36.199 Need to Minimize the Treatment Cost for Cvd Patients is Likely to Increase the Adoption of Smart/Wearable Ecg Monitors 6.4 Multi-Parameter Monitoring Devices Market 6.4.1 Introduction 6.4.2 Low-Acuity Monitoring Devices 188.8.131.52 Increasing Adoption of Low-Acuity Monitoring Devices to Improve Care in General Ward 6.4.3 Mid-Acuity Monitoring Devices 184.108.40.206 Rising Geriatric Population is Likely to Increase Market Growth 6.4.4 High-Acuity Monitoring Devices 220.127.116.11 Increasing Partnerships Between Manufacturers and Multinational Hospitals Are Driving the Sales of High-Acuity Monitoring Devices 6.5 Respiratory Monitoring Devices Market 6.5.1 Introduction 6.5.2 Pulse Oximeters 18.104.22.168 Rising Adoption of Pulse Oximeters in Home Care Settings is Expected to Drive Market Growth 6.5.3 Spirometers 22.214.171.124 Technological Advancements to Increase the Adoption of Spirometers 6.5.4 Capnographs 126.96.36.199 Extensive Research in Capnography Has Led to the Development of Improved Capnographs, Resulting in Their Increased Commercial Acceptance 6.5.5 Peak Flow Meters 188.8.131.52 Peak Flow Meters Are Not Preferred Due to the High Variability in Measurements Obtained from Devices Made by Different Manufacturers 6.6 Temperature Monitoring Devices Market 6.6.1 Introduction 6.6.2 Handheld Temperature Monitoring Devices 184.108.40.206 Advantages Associated with Handheld Temperature Monitoring Devices to Drive Market Growth 6.6.3 Table-Top Temperature Monitoring Devices 220.127.116.11 Increasing Risks Associated with Hypothermia During Surgeries to Drive the Demand for Table-Top Devices 6.6.4 Wearable Continuous Monitoring Devices 18.104.22.168 Versatile Functionalities Offered by Wearable Continuous Monitoring Devices to Drive Their Demand 6.6.5 Invasive Temperature Monitoring Devices 22.214.171.124 Increasing Prevalence of Bloodstream Infections with the Use of Invasive Temperature Monitoring Devices is Hindering Market Growth 6.6.6 Smart Temperature Monitoring Patches 126.96.36.199 Long-Term Monitoring Offered by Smart Temperature Monitoring Devices is a Key Factor Driving Market Growth 6.7 Hemodynamic/Pressure Monitoring Devices Market 6.7.1 Introduction 6.7.2 Hemodynamic Monitors 188.8.131.52 Influx of Vc Funding to Drive Market Growth 6.7.3 Blood Pressure Monitors 184.108.40.206 Development of Wearable Blood Pressure Monitors to Drive the Growth of this Market Segment 6.7.4 Disposables 220.127.116.11 Growing Number of Surgical Procedures to Drive the Growth of this Market Segment 6.8 Fetal and Neonatal Monitoring Devices 6.8.1 Introduction 6.8.2 Fetal Monitoring Devices 18.104.22.168 Increasing Number of Obstetric Complications and Rising Number of Preterm and Low-Weight Births Are Driving Market Growth 6.8.3 Neonatal Monitoring Devices 22.214.171.124 Rising Number of Neonatal Care Facilities Worldwide to Drive Growth in this Market Segment 6.9 Neuromonitoring Devices Market 6.9.1 Introduction 6.9.2 Electroencephalograph Machines 126.96.36.199 Growing Applications of Eeg and Technological Advancements Are the Key Drivers for this Market Segment 6.9.3 Electromyograph Machines 188.8.131.52 Growing Availability of Reimbursements for Emg-Assisted Surgical Procedures to Drive Market Growth 6.9.4 Cerebral Oximeters 184.108.40.206 Growing Cases of Hypoxia During Surgical Procedures Are Likely to Drive Market Growth 6.9.5 Intracranial Pressure Monitors 220.127.116.11 Fatal Consequences of High Icp Make Monitoring Important-A Key Factor Driving Market Growth 6.9.6 Magnetoencephalograph Machines 18.104.22.168 High Implementation and Maintenance Costs of Meg Devices Are Likely to Hinder Market Growth 6.9.7 Transcranial Doppler Machines 22.214.171.124 Rising Prevalence of Strokes and Cerebrovascular Disorders Will Contribute to Market Growth 6.1 Weight Monitoring Devices Market 6.10.1 Introduction 6.10.2 Digital 126.96.36.199 Consumer Preference for Digital Scales Will Contribute to Market Growth 6.10.3 Analog 188.8.131.52 Rising Prevalence of Obesity and Low Cost of Analog Scales Will Contribute to Market Growth 6.11 Other Patient Monitoring Devices Market 6.11.1 Introduction
7 Patient Monitoring Devices Market, by End-user 7.1 Introduction 7.2 Hospitals 7.2.1 Hospitals to Dominate the End-User Market 7.3 Ambulatory Surgery Centers 7.3.1 Patients Are Increasingly Opting for Ambulatory Surgery Centers as a More Convenient Alternative to Hospital-Based Outpatient Procedures 7.4 Home Care Settings 7.4.1 Reduced Cost and Continuous Monitoring of Vital Information in Home Settings to Boost Growth 7.5 Other End-users
8 Patient Monitoring Devices Market, by Region 8.1 Introduction 8.2 North America 8.3 Europe 8.4 Asia-Pacific 8.5 Latin America 8.6 Middle East & Africa