Global Patient Monitoring Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Patient Monitoring Systems helps in efficient healthcare delivery to patients outside the conventional hospital or clinical settings, by transmitting real-time patient data for clinical review which enables reduce the mortality rates and facilitate efficient use of medical resources. These monitoring systems also help in avoiding emergency overcrowding by managing a huge number of patients and enhance maintenance of electronic health records.

Global Patient Monitoring Devices Market Segments Size & Growth:

Global Patient Monitoring Devices Market size is projected to reach approximately $25.03 billion by the end of 2024 with a CAGR of close to 7.5% from $17.4 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include Rising incidences of chronic diseases due to lifestyle changes, Increase in aging population, need to contain healthcare expenditure, Demand for home-based monitoring devices, and Ease of use and portability devices to promote the growth. However, Stringent regulatory framework, Lack of proper reimbursement, and Resistance from the healthcare industry professional towards the adoption of patient monitoring systems are thereby hampering the market growth.

Global Patient Monitoring Devices Market Segments Share:

Global Patient Monitoring Devices Market is categorised into Type of Device which comprises Patient Monitors/Portals; Clinical Decision Supports Systems, Clinical Measurements, Fetal Maternal Monitors, Surveillance & Networking, and Others. By Target Area, the market is segmented into Cardiology, Neurology, Respiratory, Fetal & Neonatal, Weight Monitoring, Temperature Monitoring, Remote Monitoring, and Others. Among them, Cardiology segment holds the most significant share in the market because of increasing demand for ECG devices and increased rate of cardiac and other comorbid diseases such as diabetes and high blood pressure. By Geography, North America is projected for the highest share in 2017. The significant factors backing the growth of the market in this region are the ageing population and increased lifestyle diseases that are further serving the overall prevalence of chronic diseases.

Global Patient Monitoring Devices Market Trends:

• Close to 100 million wearable remote patient monitoring (RPM) devices will ship during the next 5 years, according to ABI Research, boosted by growing interest and awareness about the benefits of supporting healthcare away from the hospital and into patients’ homes.
• Abbott Laboratories has launched a new product called FreeStyle Libre Pro Flash Glucose Monitoring System, is a professional continuous glucose monitoring (CGM) device indicated for detecting trends and tracking patterns in persons (age 18 and older) with diabetes.

Global Patient Monitoring Devices Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The primary market players, such as

• Abbott Laboratories
• GE Healthcare
• Baxter
• Medtronic
• Johnson & Johnson Inc