The global patient monitoring devices market is evaluated at US$19.197 billion for the year 2019 growing at a CAGR of 5.88% reaching the market size of US$28.630 billion by the year 2026.
Monitoring in medical usage is a term that refers to the inspection of a disease, condition on one or several medical parameters over time. It is carried out by constantly measuring parameters by either employing a medical monitor such as continuously measuring vital signs by a bedside monitor or by repeatedly performing medical tests such as blood glucose monitoring with a glucose meter in people with diabetes mellitus. Patient equipment monitoring devices are manufactured by assembling sensors, a display device, translators, and communication links. Cardiac monitoring, Respiratory monitoring, Neurological monitoring, Childbirth monitoring are different types of healthcare parameters monitoring, boosting the demand for monitoring devices. The aging population globally, increasing occurrences of lifestyle diseases, and advancement in-home patient monitoring are some factors driving this market. However, saturation in developed countries and inefficient reimbursement regulations may impair market growth. Aging population and lifestyle diseases are driving the patient equipment monitoring market in the Americas and the European region while increasing disposable income and population growth in APAC will augment the demand for patient monitoring devices in the region over the next six years.
The market has been significantly driven by the increasing health expenditures done by several governments to enhance the technological advancements in the sector.
The advent of COVID-19 had a positive impact on the patient monitoring devices market.
The demand for patient monitoring devices increased during the pandemic due to increasing concerns about cardio-related impacts of the disease and the trend is expected to continue in the coming years.
|Market size value in 2019||US$19.197 billion|
|Market size value in 2026||US$28.630 billion|
|Growth Rate||CAGR of 5.88% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||General Electric Company (GE Healthcare), Johnson & Johnson, Masimo Corporation, Medtronic Care Management Services LLC, Omron Corporation, Koninklijke Philips NV, Siemens Healthcare GmbH, Abbott Laboratories, Baxter International Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the patient monitoring devices market size by 2026?
A1. The global patient monitoring devices market is projected to reach a market size of US$28.630 billion in 2026.
Q2. What is the size of global patient monitoring devices market?
A2. Patient Monitoring Devices Market was valued at US$19.197 billion in 2019.
Q3. What are the growth prospects for the patient monitoring devices market?
A3. The patient monitoring devices market is projected to grow at a CAGR of 5.88% over the forecast period.
Q4. Which region holds the maximum market share of the patient monitoring devices market?
A4. Europe and North America are expected to hold a significant share of the patient monitoring devices market due to the Aging population and lifestyle diseases.
Q5. What factors are anticipated to drive the patient monitoring devices market growth?
A5. The aging population globally, increasing occurrences of lifestyle diseases, and advancement in-home patient monitoring are some factors driving the patient monitoring devices market.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Patient Monitoring Devices Market Analysis, by Type
5.2. Hemodynamic Monitoring Devices
5.3. Multiparameter Monitoring Devices
5.4. Remote Patient Monitoring Devices
5.5. Neuromonitoring Devices
5.6. Weight Monitoring Devices
5.7. Respiratory Monitoring Devices
5.8. Temperature Monitoring Devices
5.9. Cardiac Monitoring Devices
5.10. Fetal & Neonatal Monitoring Devices
5.11. Respiratory Monitoring Devices
6. Patient Monitoring Devices Market Analysis, by Geography
6.2. North America
6.3. South America
6.5. Middle East and Africa
6.5.1. Saudi Arabia
6.6. Asia Pacific
6.6.4. South Korea
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.1. General Electric Company (GE Healthcare)
8.2. Johnson & Johnson
8.3. Masimo Corporation
8.4. Medtronic Care Management Services LLC
8.5. Omron Corporation
8.6. Koninklijke Philips NV
8.7. Siemens Healthcare GmbH
8.8. Abbott Laboratories
8.9. Baxter International Inc.
General Electric Company (GE Healthcare)
Medtronic Care Management Services LLC
Koninklijke Philips NV
Siemens Healthcare GmbH
Baxter International Inc.
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