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Patient Monitoring Devices Market Size

Report ID: GMI4069
Published Date: Oct 2021
Report Format: PDF

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Patient Monitoring Devices Market Size

Patient Monitoring Devices Market Size exceeded USD 23.3 billion in 2020 and is predicted to witness over 6.9% CAGR from 2021 to 2027. High accuracy associated with the latest monitoring devices will boost the market growth.

Patient Monitoring Devices Market Overview

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The COVID-19 pandemic had a significant impact on the market, as health systems all over the world have markedly expanded the use of telehealth services. This supported the use of patient monitoring devices in home settings, physician care units, and ASCs for patients suffering from acute illnesses.

The patient monitoring devices are used for continuous monitoring of patient's vitals such as heart rate, pulse rate, blood pressure, blood oxygen saturation, and many other physiological parameters. The main aim of these monitors is to give warning of early or dangerous deterioration in critically ill patients. Monitors are generally of two types, bedside monitors and remote monitors. However, in recent times due to technological advancements, the monitors come in the wearable form that enables real-time monitoring.

Patient Monitoring Devices Market Report Attributes
Report Attribute	Details
Base Year:	2020
Patient Monitoring Devices Market Size in 2020:	23.4 Billion (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	6.9%
2027 Value Projection:	39.7 Billion (USD)
Historical Data for:	2016 to 2020
No. of Pages:	205
Tables, Charts & Figures:	365
Segments covered:	Product, Type, End-use and Region
Growth Drivers:	Technological advancements in patient monitoring industry in developed regions Improving regulatory scenario for patient monitors in Asia Pacific Increasing number of hospital admissions globally Growing preference for telehealth services
Pitfalls & Challenges:	High cost of patient monitoring devices

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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

The market size of patient monitoring devices was over USD 23.3 billion in 2020 and is estimated to expand at a 6.9% CAGR through 2027 owing to the optimum need for higher accuracy in the latest monitoring devices.

Cardiac monitoring, neuromonitoring devices, respiratory monitoring devices, anesthesia monitor, hemodynamic monitoring devices, fetal and neonatal monitoring, and multiparameter devices are some devices employed in patient monitoring.

Demand for wireless patient monitoring devices is expected to record a growth rate of more than 7.3% up to 2027, driven by increasing adoption to monitor patients

The Europe region is anticipated to strike a CAGR of around 6.5% through 2027 due to the growing incidences of chronic diseases across several countries.