How Big is the Digital Patient Monitoring Devices Market ? :
IMARC Group’s latest report, titled “Digital Patient Monitoring Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the digital patient monitoring devices market demand . The report also includes competitor and regional analysis, and contemporary advancements in the market. the global digital patient monitoring devices market size reached US$ 103.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 403.3 Billion by 2028, exhibiting a growth rate (CAGR) of 24% during 2023-2028.
Digital Patient Monitoring Devices Uses:
Digital patient monitoring devices are modern tools that are designed to track and monitor patients’ health parameters and vitals in real-time. They are intended to improve the quality of patient care by providing accurate and timely information to healthcare providers, which can aid in diagnosing, treating, and preventing potential health issues. They can range from simple wearable devices, such as fitness trackers and smartwatches, to more advanced medical-grade equipment, such as an electrocardiogram (ECG) machines, blood pressure monitors, and pulse oximeters. Additionally, they utilize sensors and other advanced technologies to measure various health metrics, including heart rate, blood pressure, respiratory rate, oxygen saturation, glucose levels, and more. The data collected by them can be transmitted wirelessly to healthcare providers, who can then use the information to make informed decisions about a patient’s care.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Abbott Laboratories
- AT&T Inc
- Athenahealth Inc
- F. Hoffmann-La Roche AG
- General Electric Company
- Hill-Rom Holdings Inc. (Baxter International Inc.)
- Johnson & Johnson
- Koninklijke Philips N.V
- Medtronic plc
- Nihon Kohden Corporation
- OMRON Corporation
- ResMed
Digital Patient Monitoring Devices Market Future Demand, Research and Development:
Significant growth in the healthcare industry majorly drives the global market. This can be supported by the rising demand for continuous monitoring devices and the increasing prevalence of chronic medical ailments, such as hypertension, asthma, blood pressure, and diabetes. Along with this, the growing demand for various sensor-based wearable monitoring devices, such as continuous glucose monitors, which track blood sugar levels in real-time and transmit the data electronically to medical practitioners, is significantly supporting the market.
In addition, the rising demand for in-home care settings due to the COVID-19 pandemic is also positively influencing the demand. Moreover, continual technological advancements, particularly the introduction of smart digital patient monitoring devices that quickly analyze common physiological parameters, are creating a positive market outlook. Some of the other factors driving the market include rising consumer expenditure capacity and extensive research and development (R&D).
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Key Market Segmentation:
Breakup by Monitoring Type:
- Wireless Sensor Technology
- mHealth
- Telehealth
- Wearable Devices
- Remote Patient Monitoring
Breakup by Product:
- Diagnostic Monitoring Devices
- Vital Sign Monitors
- Sleep Monitors
- Fetal Monitors
- Neuromonitors
- Others
- Therapeutic Monitoring Devices
- Insulin Monitors
- Respiratory Monitors
- Others
Breakup by End User:
- Hospitals
- Home Settings
- Ambulatory Surgical Centers (ASC)
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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