The new report by Expert Market Research titled, ‘Global Digital Patient Monitoring Devices Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global digital patient monitoring devices market, assessing the market based on its segments like product type, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 40 Billion
• Forecast CAGR (2021-2026): 28.3%
The market is predicted to develop due to rising consumer awareness of fitness and a healthy lifestyle. The market is predicted to develop due to lifestyle-related disorders such as hypertension and diabetes, as well as the need for round-the-clock patient care. The demand for enhanced cybersecurity in the healthcare sector is likely to restrain industry growth over the forecast period, owing to an increase in hacking and data theft.
Industry Definition and Major Segments
Digital patient monitoring is a type of home care telehealth that allows individuals to use mobile medical equipment and software to collect and submit patient-generated health data to health care experts (PGHD). It’s frequently utilised to help patients in acute, post-discharge, and senior care settings.
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The industry can be broadly categorised based on product type into:
• Haemodynamic Monitoring Devices
• Neuromonitoring Devices
• Cardiac Monitoring Devices
• Foetal and Neonatal Monitoring Devices
• Respiratory Monitors
• Multiparameter Monitoring Devices
• Remote Patient Monitoring Devices
• Weight Monitoring Devices
• Temperature Monitoring Devices
• Urine Output Monitoring Devices
The industry can be divided based on end-use as:
• Home Settings
• Ambulatory Surgical Centres (ASC)
The global regions for digital patient monitoring devices market include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Apple, Fitbit, and Xiaomi are among the companies launching wearable gadgets that are fueling the need for electronic health monitoring. Start-up wearables firms are focusing on mHealth areas including personal safety, women’s health, and hydration monitoring, all of which present promising growth opportunities for the remote patient monitoring market. Digital patient management offers a complete platform for a variety of care settings, as well as unique features that ensure a smooth workflow, medical accuracy, and better patient care. Patients are monitored remotely to ensure that diagnosis and disease management procedures are consistent. The segment is predicted to rise due to increased promotion and use of the internet platform to achieve favourable health results, as well as a high preference for portable devices.
Key Market Players
The major players in the market are Abbott Laboratories (NYSE: ABT), Biotronik SE & Co. KG, General Electric Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Koninklijke Philips N.V., Masimo Corporation, Medtronic plc, Nihon Kohden Corporation, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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