Digital patient monitoring devices are healthcare providers to collect and track a variety of health data including weight, activity, blood pressure, heart rate, vital signs and much more. Observing patients (checking them and their wellbeing) normally while they are in clinic and making a move on the off chance that they give indications of turning out to be more regrettable can help maintain a strategic distance from significant issues.
Market Growth Factors
The global digital patient monitoring devices market size was valued at USD 26,552.0 million in 2017 and is expected to expand at a CAGR of 27.0% from 2020 to 2027. The market is likely to witness exponential growth within the forecast period. Increasing availability of integration of monitoring technologies in smartphones and wireless devices, advanced devices such as mobile PDA systems enable the real-time transmission of data, and increasing attention towards fitness and healthy lifestyle among consumer are the driving factors for the global digital patient monitoring devices market. But, increasing incidences of hacking and data theft demand for better healthcare cyber security and risks associated with the use of invasive monitoring systems hampers the growth of the global digital patient monitoring devices market. Similarly, increasing patient population across emerging countries, rising medical tourism, and growing awareness about such utilities and higher acceptance amongst physicians and healthcare professionals creates the market opportunity for the global digital patient monitoring devices market.
In terms of revenue, the wearable devices segment accounted largest share in the global digital patient monitoring devices market.
On the basis of product, the global digital patient monitoring devices market is segmented into wireless sensor, mHealth, telehealth, wearable devices, remote patient monitoring. Among them wearable devices is projected to be the fastest-growing end-use industry of the global digital patient monitoring devices market during the forecast period. Because of the rising penetration of smart mobile phones and availability of faster internet connectivity and use of mHealth apps has huge market opportunity to grow in forecast period.
Home Setting was the leading segment of digital patient monitoring devices market.
The global digital patient monitoring devices market is classified into hospitals & clinics, home settings, and ambulatory surgical centers. As per the global digital patient monitoring devices market forecast, the home setting segment is expected to be the growing segment in the years to come. This growth can be attributed to increasing in awareness regarding benefits of using remote patient monitoring and the availability of using these devices from the comfort of homes.
Global Digital Patient Monitoring Device Sales Market Share (%) by Applications in 2017
North America accounted for major share of digital patient monitoring devices market in 2017.
Based on region, the global digital patient monitoring devices market has been segmented into: North America, Asia-Pacific, Europe, Africa, South America, and other regions. North America covers major market share, which is followed by Asia Pacific and Europe. Due to increasing in the prevalence of lifestyle diseases and government initiative to improves the healthcare facilities. Along with that, Asia Pacific region is expected to grow in forecast period because of the increase in the purchasing power and rise in the rapid population.
Global Digital Patient Monitoring Device Sales Market Share (%) by Region in 2017
COVID-19 has put various industries under tremendous pressure to enhance its services and advancement in technologies. Key companies are involved in adopting various inorganic and organic strategies to increase their foothold in the industry. Nihon Kohden, Natus Medical, Koninklijke Philips N.V., Edward Lifesciences, Omron, Masimo, GE Healthcare, Hill-Rom Holdings, Drägerwerk AG, Compumedics, Shenzhen Mindray Bio-Medical Electronics, and others.
Global Digital Patient Monitoring Devices Market: Product Type
- Wireless Sensor
- mHealth
- Telehealth
- Wearable Devices
- Remote Patient Monitoring
Global Digital Patient Monitoring Devices Market: Applications
- Hospitals & Clinics
- Home Settings
- Ambulatory Surgical Center
Global Digital Patient Monitoring Devices Market: Geographical Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Russia
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South East Asia
- Rest of APAC
- South America
- Brazil
- Argentina
- Mexico
- Others
- Middle East & Africa
- Saudi Arabia
- South Africa
- Turkey
- Nigeria
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