Global Patient Monitoring Device Market – Analysis and Forecast (2022-2030)

Industry Insights by Product (Cardiac Monitoring Devices, Meuromonitoring Devices, Respiratory Monitoring Devices, Hemodynamic Monitoring Devices, Multi-Parameter Monitoring Devices, Temperature Monitoring Devices, Fetal and Neonatal Monitoring Device and Weight Monitoring Devices), and by End User (Ambulatory Surgical Centers, Home Settings and Hospitals and Clinics), and by Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The global patient monitoring device market was valued at USD 27.1 billion in 2021 and is anticipated to reach USD 48.85 billion in 2030, witnessing a CAGR of 5.1% during the forecast period 2022-2030. Patient monitoring devices are used for detection, continuous monitoring and treatment various body parts such as lungs, heart and brain. These devices are essential for hospitals and other healthcare facilities. The global patient monitoring device market is growing at significant rate, due to mounting occurrence chronic and lifestyle associated diseases and boosting demand of patient monitoring in remote and non-hospital settings. Different product contributed to the patient monitoring device market size. The cardiovascular device market has witnessed high demand for ECG devices in the coming years due to mounting occurrence of cardiovascular diseases and advancement of technologically innovative devices.

Market Segmentation

Insight by Product

On the basis of product the patient monitoring device market is subdivided into cardiac monitoring devices, neuromonitoring devices, respiratory monitoring devices, hemodynamic monitoring devices, multi-parameter monitoring device, temperature monitoring devices, fetal and neonatal monitoring device and weight monitoring devices.

The cardiac monitoring devices market is further subdivided into implantable loop recorders, mobile cardiac telemetry monitors, ECG devices, event monitors, and smart wearable ECG monitors. Of all the products, the mobile cardiac telemetry monitors segment is expected to grow at fastest rate in the market due to improved and speedy and massive prospective for decreasing healthcare costs. Moreover, ECG devices accounted the largest share in the market due to mounting occurrence of cardiovascular diseases, advancement of technologically innovative devices, extensive application of ECG devices in cardiovascular disease management, and government schemes.

The respiratory devices market is further subdivided into pulse oximeter, capnographs, peak flow meters and spirometers. Of all the products, capnographs segment are expected to grow at fastest rate in the market due to their compulsory necessity during anesthesia and in monitoring the respiratory condition of patients in ICUs. Moreover, the pulse oximeter segment accounted the largest share in the market due to development of innovative products.

In addition, the neuomonitoring device market is further subdivided into cerebral oximeters, electroencephalograph (EEG) machines, electromyograph machines, intracranial pressure monitors, and magnetoencephalograph machines. Of all the products, the EEG machines segment accounted the largest share in the market due to mounting occurrence of neurological disorders, boosting number of specialized facilities and growing R&D in the field of cerebral and spinal disorders. Moreover, cerebral oximeters are expected to grow at fastest rate in the market as it provides real time data through a non-invasive procedure, which further helps to observe the effects of interventions and make emergency care decisions.

The multi-parameter monitoring device market is further subdivided into low-acuity monitors, mid-acuity monitors and high-acuity monitors. Of all the products the low-acuity monitors accounted the largest share in the market due to its lower price and its benefits over single-parameter monitors. In addition, fetal and neonatal monitoring device market is further sub divided into fetal monitoring device and neonatal monitoring device. Of both fetal monitoring device segment accounted the largest share in the market due to boosting alertness of fetal care in developing countries.

Insight by End User

The different end users of the market are ambulatory surgical centers, home settings and hospitals and clinics. Convenience of infrastructure, mounting occurrence of chronic diseases and refining healthcare infrastructure in developing countries are the factors growing the demand of patient monitoring device in hospitals and clinics. Among the all end users, the hospitals and clinics accounted the largest share in the patient monitoring device market.

Patient Monitoring Device Market Report Coverage

Industry Dynamics

Growth Drivers

Accessibility of wireless monitoring device and mounting occurrence of chronic and lifestyle associated diseases are the primary growth drivers for patient monitoring device market. For instance, according World Health Organization (WHO) approximately 17.7 million people died from cardiovascular diseases in 2015.

Boosting demand of patient monitoring in remote and non-hospital settings, expanding geriatric population, mounting public health alertness and mounting healthcare expenditure are also facilitating the growth for the patient monitoring device market. For instance, according to WHO, globally in 2010 approximately 524 million people were aged 65 years and older, and is expected to reach 1.5 billion in 2050.

Challenges

Threats related with invasive monitoring devices and strict regulatory requirements for the approval of devices are the major challenges for the growth of patient monitoring device market.

Industry Ecosystem

Globally, the manufacturing companies trying to enter the patient monitoring device market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.

Geographic Overview

Geographically, North America is the largest patient monitoring device market as in the region the occurrence of chronic and lifestyle associated diseases is increasing. For instance, according to according to Centers of Disease Control and Prevention (CDC), in the U.S. approximately 610,000 people die every year due to heart disease. Technological advancement in patient monitoring devices, advanced healthcare infrastructure, high healthcare expenditure and expanding geriatric population are also up surging growth of the North American patient monitoring device market.

Asia is observed to witness fastest growth in the patient monitoring device market, due to mounting healthcare expenditure. In addition, mounting occurrence of chronic and lifestyle associated diseases, and budding public health alertness are also creating a positive impact on the patient monitoring device market growth in the region.

Competitive Insight

Key players in the patient monitoring device market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In April 2018, Masimo received CE marking for Rad-97 pulse CO-oximeter with integrated NomoLine capnography, for continuous oxygenation and ventilation monitoring. Medtronic PLC, Edward Lifesciences, Natus Medical, Masimo, Koninklijke Philips N.V., Nihon Kohden, Hill-Rom Holdings, Drägerwerk AG, Omron and GE Healthcare are the key players offering patient monitoring device.

The Patient Monitoring Device Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2022–2030.

Segments Covered in the Report

• By Product 
  • Cardiac Monitoring Devices
  • Neuromonitoring Devices
  • Respiratory Monitoring Devices
  • Hemodynamic Monitoring Devices
  • Multi-Parameter Monitoring Devices
  • Temperature Monitoring Devices
  • Fetal and Neonatal Monitoring Device
  • Weight Monitoring Devices
• By End User
  • Ambulatory Surgical Centers
  • Home Settings
  • Hospitals and Clinics

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Product 
                1.2.2.    By End User                 
                1.2.5.    By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Methodology
                1.5.1.    Data Sources
                        1.5.1.1. Primary Research
                        1.5.1.2. Secondary Research
                1.5.2.    Methodology
                        1.5.2.1. Data Exploration
                        1.5.2.2. Forecast Parameters
                        1.5.2.3. Data Validation
                        1.5.2.4. Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis
                3.3.3.    Market Share Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Product
                5.1.1.    Cardiac Monitoring Devices
                        5.1.1.1. Market Definition
                        5.1.1.2. Market Estimation and Forecast to 2030  
                5.1.2.    Neuromonitoring Devices
                        5.1.2.1. Market Definition
                        5.1.2.2. Market Estimation and Forecast to 2030
                5.1.3.    Respiratory Monitoring Devices
                        5.1.3.1. Market Definition
                        5.1.3.2. Market Estimation and Forecast to 2030  
                5.1.4.    Hemodynamic Monitoring Devices
                        5.1.4.1. Market Definition
                        5.1.4.2. Market Estimation and Forecast to 2030
                5.1.5.    Multi-Parameter Monitoring Devices
                        5.1.5.1. Market Definition
                        5.1.5.2. Market Estimation and Forecast to 2030  
                5.1.6.    Temperature Monitoring Devices
                        5.1.5.1. Market Definition
                        5.1.5.2. Market Estimation and Forecast to 2030
                5.1.7.    Fetal and Neonatal Monitoring Device
                        5.1.5.1. Market Definition
                        5.1.5.2. Market Estimation and Forecast to 2030 
                5.1.8.    Weight Monitoring Devices
                        5.1.5.1. Market Definition
                        5.1.5.2. Market Estimation and Forecast to 2030       
        5.2.    By End User
                5.2.1.    Ambulatory Surgical Centers
                        5.2.1.1. Market Definition
                        5.2.1.2. Market Estimation and Forecast to 2030
                5.2.2.    Home Settings
                        5.2.2.1. Market Definition
                        5.2.2.2. Market Estimation and Forecast to 2030
                5.2.3.    Hospitals and Clinics
                        5.2.3.1. Market Definition
                        5.2.3.2. Market Estimation and Forecast to 2030          
        
6.    North America Market Estimate and Forecast

        6.1.    By Product
        6.2.    By End User       
        6.5.    By Country – U.S., Canada, and Mexico
                6.5.1.    U.S. Market Estimate and Forecast
                6.5.2.    Canada Market Estimate and Forecast
                6.5.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Product
        7.2.    By End User       
        7.5.    By Country – U.S., Canada, and Mexico
                7.5.1.    Germany Market Estimate and Forecast
                7.5.2.    France Market Estimate and Forecast
                7.5.3.    U.K. Market Estimate and Forecast
                7.5.4.    Italy Market Estimate and Forecast
                7.5.5.    Spain Market Estimate and Forecast
                7.5.6.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Product
        8.2.    By End User       
        8.5.    By Country – U.S., Canada, and Mexico
                8.5.1.    China Market Estimate and Forecast
                8.5.2.    Japan Market Estimate and Forecast
                8.5.3.    India Market Estimate and Forecast
                8.5.4.    South Korea Market Estimate and Forecast
                8.5.5.    Singapore Market Estimate and Forecast
                8.5.6.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Product
        9.2.    By End User       
        9.5.    By Country – U.S., Canada, and Mexico
                9.5.1.    Brazil Market Estimate and Forecast
                9.5.2.    Saudi Arabia Market Estimate and Forecast
                9.5.3.    South Africa Market Estimate and Forecast
                9.5.4.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    Medtronic PLC
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    Edward Lifesciences
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    Natus Medical
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    Masimo
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    Koninklijke Philip
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    Nihon Kohden
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    Hill-Rom
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    Drägerwerk AG
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    Omron
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments 
        10.10.   GE Healthcare
                10.10.1.    Snapshot
                10.10.2.    Overview
                10.10.3.    Offerings
                10.10.4.    Financial Insight
                10.10.5.    Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Patient Monitoring Device Market, By Product, 2018 - 2021 (USD Billion)
Table 5 Global Patient Monitoring Device Market, By Product, 2022 - 2030 (USD Billion)
Table 6 Global Patient Monitoring Device Market, By End User, 2018 - 2021 (USD Billion)
Table 7 Global Patient Monitoring Device Market, By End User, 2022 - 2030 (USD Billion)
Table 8 Global Patient Monitoring Device Market, By Region, 2018 - 2021 (USD Billion)
Table 9 Global Patient Monitoring Device Market, By Region, 2022 - 2030 (USD Billion)
Table 10 North America Patient Monitoring Device Market, By Product, 2018 - 2021 (USD Billion)
Table 11 North America Patient Monitoring Device Market, By Product, 2022 - 2030 (USD Billion)
Table 12 North America Patient Monitoring Device Market, By End User, 2018 - 2021 (USD Billion)
Table 13 North America Patient Monitoring Device Market, By End User, 2022 - 2030 (USD Billion)
Table 14 North America Patient Monitoring Device Market, By Region, 2018 - 2021 (USD Billion)
Table 15 North America Patient Monitoring Device Market, By Region, 2022 - 2030 (USD Billion)
Table 16 Europe Patient Monitoring Device Market, By Product, 2018 - 2021 (USD Billion)
Table 17 Europe Patient Monitoring Device Market, By Product, 2022 - 2030 (USD Billion)
Table 18 Europe Patient Monitoring Device Market, By End User, 2018 - 2021 (USD Billion)
Table 19 Europe Patient Monitoring Device Market, By End User, 2022 - 2030 (USD Billion)
Table 20 Europe Patient Monitoring Device Market, By Region, 2018 - 2021 (USD Billion)
Table 21 Europe Patient Monitoring Device Market, By Region, 2022 - 2030 (USD Billion)
Table 22 Asia-Pacific Patient Monitoring Device Market, By Product, 2018 - 2021 (USD Billion)
Table 23 Asia-Pacific Patient Monitoring Device Market, By Product, 2022 - 2030 (USD Billion)
Table 24 Asia-Pacific Patient Monitoring Device Market, By End User, 2018 - 2021 (USD Billion)
Table 25 Asia-Pacific Patient Monitoring Device Market, By End User, 2022 - 2030 (USD Billion)
Table 26 Asia-Pacific Patient Monitoring Device Market, By Region, 2018 - 2021 (USD Billion)
Table 27 Asia-Pacific Patient Monitoring Device Market, By Region, 2022 - 2030 (USD Billion)
Table 28  RoW Patient Monitoring Device Market, By Product, 2018 - 2021 (USD Billion)
Table 29  RoW Patient Monitoring Device Market, By Product, 2022 - 2030 (USD Billion)
Table 30  RoW Patient Monitoring Device Market, By End User, 2018 - 2021 (USD Billion)
Table 31  RoW Patient Monitoring Device Market, By End User, 2022 - 2030 (USD Billion)
Table 32  RoW Patient Monitoring Device Market, By Region, 2018 - 2021 (USD Billion)
Table 33  RoW Patient Monitoring Device Market, By Region, 2022 - 2030 (USD Billion)
Table 34 Snapshot – Becton
Table 35 Snapshot – Dickinson and Company
Table 36 Snapshot – STERIS
Table 37 Snapshot – DXC Technology Company
Table 38 Snapshot – Cerner Corporation
Table 39 Snapshot – Allscripts Healthcare Solutions
Table 40 Snapshot – Omnicell
Table 41 Snapshot – McKesson Corporation
Table 42 Snapshot – GE Healthcare
Table 43 Snapshot – Optum
Table 44 Snapshot – Nexus AG
Table 45 Snapshot – Getinge
Table 46 Snapshot – Surgical Information Systems 

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Patient Monitoring Device Market- Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Patient Monitoring Device Market Highlight
Figure 12 Global Patient Monitoring Device Market, By Product, 2018 - 2030 (USD Billion)
Figure 13 Global Patient Monitoring Device Market, By End User, 2018 - 2030 (USD Billion)
Figure 14 Global Patient Monitoring Device Market, By Region, 2018 - 2030 (USD Billion)
Figure 15 North America Patient Monitoring Device Market Highlight
Figure 16 North America Patient Monitoring Device Market, By Product, 2018 - 2030 (USD Billion)
Figure 17 North America Patient Monitoring Device Market, By End User, 2018 - 2030 (USD Billion)
Figure 18 North America Patient Monitoring Device Market, By Region, 2018 - 2030 (USD Billion)
Figure 19 Europe Patient Monitoring Device Market Highlight
Figure 20 Europe Patient Monitoring Device Market, By Product, 2018 - 2030 (USD Billion)
Figure 21 Europe Patient Monitoring Device Market, By End User, 2018 - 2030 (USD Billion)
Figure 22 Europe Patient Monitoring Device Market, By Region, 2018 - 2030 (USD Billion)
Figure 23 Asia-Pacific Patient Monitoring Device Market Highlight
Figure 24 Asia-Pacific Patient Monitoring Device Market, By Product, 2018 - 2030 (USD Billion)
Figure 25 Asia-Pacific Patient Monitoring Device Market, By End User, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific Patient Monitoring Device Market, By Region, 2018 - 2030 (USD Billion)
Figure 27 RoW Patient Monitoring Device Market Highlight
Figure 28 RoW Patient Monitoring Device Market, By Product, 2018 - 2030 (USD Billion)
Figure 29 RoW Patient Monitoring Device Market, By End User, 2018 - 2030 (USD Billion)
Figure 30 RoW Patient Monitoring Device Market, By Region, 2018 - 2030 (USD Billion)