Digital Patient Monitoring Devices Market Size, Sector / Industry Report & Analysis, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Digital Patient Monitoring Devices Market


The global Digital Patient Monitoring Devices market size is projected to reach US$ 272.11 billion by 2026, from US$ 62.16 billion in 2020, at a CAGR of 27.9% during 2021-2026. Rising attention towards fitness and healthy lifestyle among consumer is anticipated to fuel the growth. Lifestyle-associated diseases such as hypertension and diabetes demand round-the-clock surveillance of patients. High prevalence of these disease is anticipated to further propel the product demand.
Moreover, the introduction of wearable devices by companies such as Fitbit, Apple, and Xiaomi is influencing the demand for digital health monitoring. Startup companies specializing in wearables focus on mHealth categories such as personal safety, womens health, and hydration monitoring that promise exciting prospects for digital patient monitoring.

Wearable devices with wireless sensors assist in real-time patient monitoring. Moreover, mHealth and telehealth allow data integration with portable monitoring devices. Increasing awareness about such utilities and higher acceptance amongst physicians and healthcare professionals are anticipated to result in substantial growth of the digital patient monitoring devices market.

Digital patient monitors offer a comprehensive system for different types of care setting along with custom features that provide streamlined workflow, clinical accuracy, and enhanced patient care. However, increasing incidences of hacking and data theft demand for better healthcare cyber security and is anticipated to limit the growth of the industry over the forecast period.

Market Segmentation, Outlook & Viewpoint: Global Digital Patient Monitoring Devices Market

Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

Wireless Sensor Technology

mHealth

Telehealth

Wearable Devices

Remote Patient Monitoring

  
Hospital Inpatient Monitoring
  
Ambulatory Patient Monitoring
  
Smart Home Healthcare

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

Diagnostic Monitoring Devices

  
Vital Sign Monitors
  
Sleep Monitors
  
Fetal Monitors
  
Neuromonitors
  
Other Monitors

Therapeutic Monitoring Devices

  
Insulin Monitoring Devices
  
Respiratory Monitors
  
Other Therapeutic Devices

Key Players, Recent Developments & Regional Insights: Global Digital Patient Monitoring Devices Market

Based on product, the market is segmented into diagnostic and therapeutic equipment. Diagnostic equipment is further segmented into vital sign recorders, sleep trackers, fetal monitors, neuromonitors, and others. Neuromonitors held a substantial market share in 2018 due to the rising prevalence of neurological disorders coupled with increasing geriatric population.

Therapeutic monitoring devices are further classified into insulin monitors, respiratory monitors, and other therapeutic monitors. Rising prevalence of diabetes has led to an increasing research activities in the field of insulin monitoring devices. Some other areas of advancement include continuous glucose monitoring systems used in the management of type 1 and type 2diabetes. In March 2018, the Food and Drug Administration (FDA) approved Medtronics Guardian Connect, a continuous glucose monitor featuring predictive algorithm that alarms patients of any potential increase or decrease in blood glucose levels.

Regional Insights

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America led this market due to its advanced healthcare infrastructure, supportive government initiatives, suitable reimbursement policies, and rising geriatric population. In November 2018, GetWellNetwork, acquired HealthLoop incorporating around 7.2 million patient interactions annually and assessing risks in real time. HealthLoop proactively helps patients intervening before the escalation of any complications and cost. Moreover, it facilitates over 80,000 digitized physician visits every month. The acquisition is anticipated to expand GetWellNetworks reach into over 700 care providers.

Asia Pacific is anticipated to register lucrative growth over the forecast period, owing to the rising purchasing power, awareness level, and prevalence of chronic conditions. Moreover, improving healthcare infrastructure with the assistance of government initiatives is facilitating the usage of advanced digital patient monitoring devices.

Digital Patient Monitoring Devices Market Share Insights

Key players operating in this market include Omron Corporation; Airstrip Technologies; AT&T Inc.; Athenahealth, Inc.; St. Jude Medical; Phillips Healthcare; Welch Allyn; GE Healthcare; and Zephyr Technology Corporation. These players are undertaking various initiatives to sustain the competition. These initiatives include collaborations, mergers, acquisitions, and new product launches.

For instance, in September 2018, Google and Amazon invested in Aiva Health, a startup involved in the development of voice powered healthcare assistance for seniors. Aiva offers smart speakers such as Amazon Echo and Google Home to connect patients with care providers.

Key Insights Covered: Global Digital Patient Monitoring Devices Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Digital Patient Monitoring Devices industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Digital Patient Monitoring Devices industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Digital Patient Monitoring Devices industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Digital Patient Monitoring Devices industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Digital Patient Monitoring Devices industry.

Research Methodology: Global Digital Patient Monitoring Devices Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other