Patient Monitoring Devices Market 2030 - A Technological Perspective

Patient Monitoring Devices Market Growth & Trends

The global patient monitoring devices market size is expected to reach USD 92.8 billion by 2030 and is projected to grow at a CAGR of 7.8%, according to a new report by Grand View Research, Inc. The demand in the market is expected to rise owing to the technological advancements in patient monitoring devices along with the growth in the number of hospital admissions globally.

Improving healthcare expenditure across the globe coupled with the rising adoption of remote monitoring systems will also augment the market growth over the forecast period. Many hospitals and healthcare providers are investing in remote patient monitoring technologies as a part of a value-based care model.

Gather more insights about the market drivers, restrains and growth of the Patient Monitoring Devices Market

U.S. patient monitoring devices market size, by product, 2020 - 2030 (USD Billion)

Patient monitoring devices help in monitoring and managing high-risk patients that are suffering from chronic diseases and are considered unstable. There has been a rise in the prevalence of chronic diseases such as diabetes, cancer, and hypertension across the world. Over 100 million Americans have hypertension and an increased risk of heart disease, according to the Centers for Disease Control and Prevention (CDC). The need for patient monitoring devices is rising due to the increasing prevalence of these conditions worldwide.

COVID-19 has decreased frequent hospital visits while increasing demand for home monitoring devices. Additionally, the scenario has altered customer demand, buying patterns, and behavior. The necessity to harness and utilize digital infrastructure for remote patient monitoring has been brought into sharp relief by the COVID-19 outbreak. The combination of telehealth & remote patient monitoring is projected to enhance the provision of at-home healthcare.

Patient monitoring devices industry growth is also being driven by supporting activities by the public and private sectors to assist COVID-19 patients globally. For instance, the World Health Organization distributed 30,000 oxygen concentrations worldwide in February 2021. Similarly, Invacare Corporation saw sales of respiratory products increase by 72.2% in the fourth quarter of 2020.

Patient Monitoring Devices Market Report Highlights

  • Due to the technological advancements in multi-parameter patient monitoring, the category for multi-parameter monitoring devices accounted for the greatest revenue share of 23.3% in 2021. Multi-parameter patient monitors are widely used for enhancing the quality of healthcare in both the in-patient wards and intensive care units (ICU)
  • The blood glucose monitoring devices segment is expected to show lucrative growth during the forecast period owing to the growing number of diabetic patients’ demand for monitoring devices to keep track of their health
  • Due to the strong demand for various monitoring devices to monitor patients at hospitals, the hospitals segment accounted for the largest revenue share of 51.1% in 2021
  • North America contributed to the largest revenue share of 42.6% in 2021, owing to the presence of well-established reimbursement policies, dominant market players, high healthcare expenditure, and high adoption rate for advanced medical technologies

Browse more reports published by Grand View Research.

List of Key Players in the Patient Monitoring Devices Market

  • Honeywell
  • American Telecare
  • Roche
  • Philips Healthcare
  • Bosch
  • Biotronik
  • Intel
  • Welch Allyn
  • Health anywhere Inc.
  • Johnson & Johnson
  • Covidien Plc.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Explore Horizon, the world's most expansive market research database

Comments

Post a Comment

Popular posts from this blog

India Electric Vehicle Market Competitive Landscape Report to 2028

Image
India Electric Vehicle Industry Overview The India electric vehicle market size was valued at USD 220.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 94.4% from 2021 to 2030. The attractive incentives being offered by the Indian government on the production and purchase of electric vehicles to encourage the adoption of electric vehicles are anticipated to drive the growth of the market over the forecast period. The outbreak of the COVID-19 pandemic triggered a significant decline in the overall sales of passenger and commercial vehicles in 2020. However, the sales of electric vehicles in India remained unaffected. The post-lockdown sale of pure and hybrid electric vehicles is a prominent driving factor for the electric vehicle market in India. The stringent GreenHouse gas (GHG) emission norms drafted by the government, such as the Bharat Stage (BS) VI emission standards introduced by India’s Ministry of Road Transport and Highways (MoRTH), are a
Read more

Cyber Security Market 2030 - Advanced Solutions for Modern Businesses

Image
Data breaches, malware, and hacking attempts are all too common, forcing businesses and individuals to prioritize cybersecurity market  trends. The internet has become an essential part of our lives, and with it comes the ever-present threat of cyberattacks. Within the struggles of integrity, privacy, and trust, the domain of cybersecurity thrives with firewalls, encryption keys, and neural networks that safeguard our interconnected existence. The Market Landscape This blog explains the core of the cybersecurity market, examining its growth, challenges, and the valiant defenders who shield the virtual world. Numbers Beyond 0 & 1: The global cyber security market is no mere niche; it’s a thriving ecosystem fueled by relentless innovation and escalating threats. According to recent reports, here are the key figures: In 2023, the market was estimated at a staggering  USD 222.66 billion , growing at a projected compound annual growth rate of 12.3% from 2024 to 2030. By 2030, th
Read more

LiDAR Market Historical Data & Forecasts 2030

Image
LiDAR Industry Overview The global LiDAR market size was valued at USD 1.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. The technological advancements in spatial resolution of LiDAR-based digital terrain models are providing better accuracy in applications such as change detection on hillsides, water runoff for agriculture or mining sites, and inland waterways. The growth of the market is attributed to the rising automation in LiDAR to reduce human efforts and increase efficiency. Gather more insights about the market drivers, restrains and growth of the Global LiDAR Market   The rising demand for 3D imagery in application areas such as military & defense, topographical surveys, civil engineering, and corridor mapping is expected to drive the market growth over the forecast period. Textured 3D imagery is applied in applications such as 3D mapping, city planning, and corridor mapping. The installation of advanced
Read more