Digital Patient Monitoring Devices Market To Reach $692.34 Billion By 2030

Digital Patient Monitoring Devices Market Growth & Trends

The global digital patient monitoring devices market size is anticipated to reach USD 692.34 billion by 2030, registering a CAGR of 25.40% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing prevalence of chronic diseases, and rising elderly population, are anticipated to have an impact on the growth of the market. In addition, market growth is anticipated to be fueled by increasing usage of next-generation technologies, such as artificial intelligence.

The COVID-19 outbreak brought to light the value and necessity of digital patient monitoring devices as a means of connecting patients and healthcare providers when in-person consultations are not feasible. The probability of disease transmission is reduced by using teleconsultations to evaluate suspected COVID-19 cases and to direct the patient's appropriate treatment. In the situation of a public health emergency, telemedicine also makes it possible for many of the key clinical services to continue to run normally and without interruption. Thus, increasing demand for the homecare during the COVID-19 pandemic has anticipated to propel the upsurge of the market.

Various government initiatives to promote digital health are also expected to grow the demand for digital patient monitoring over the forecast period. For instance, in May 2022 , the HHS announced an investment of around USD 16.3 million to expand the telehealthcare program in the U.S. Hence, this government funding in digital health is projected to upsurge the growth of the market across the globe. Moreover, the usage of mobile devices is rising among physicians. For instance, according to an article published by BMC Health, around 82% of people use mobile phones for patient engagement . Thus, rising importance of mobile phones and mHealth for improving health outcomes & patient care is driving the market.

 Request a free sample copy or view report summary: Digital Patient Monitoring Devices Market Report

Digital Patient Monitoring Devices Market Report Highlights

• Based on type, the wearable devices segment dominated the market with a revenue share of more than 31.30% in 2023 due to various factors such as rising demand for home-based healthcare, growing penetration of IoT-based health equipment, and increasing expenditure on healthcare. Thus, these factors are anticipated to increase the demand for the segment in the market

• Based on product, the diagnostic monitoring devices segment dominated the market in 2023 owing to rising prevalence of chronic diseases such as diabetes and cardiovascular diseases. Thus, increasing the demand for this product segment

• North America dominated the market with a revenue share of more than 40.83%in 2023, owing to an increase in the adoption of advanced technologies, and growing geriatric population in the region. Moreover, rising prevalence of cardiovascular disorders is anticipated to increase the overall growth of the market

Digital Patient Monitoring Devices Market Segmentation

Grand View Research has segmented the global digital patient monitoring devices market based on type, product, and region:

Digital Patient Monitoring Devices Type Outlook (Revenue, USD Million, 2018 - 2030)

• Wireless Sensor Technology

• mHealth

• Telehealth

• Wearable Devices

• Remote Patient Monitoring

  • Hospital Inpatient

  • Ambulatory Patient

  • Smart Home Healthcare

Digital Patient Monitoring Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Monitoring Devices

  • Vital Sign Monitors

  • Sleep Monitors

  • Fetal Monitors

  • Neuromonitors

  • Other Monitors

• Therapeutic Monitoring Devices

  • Insulin Monitors

  • Respiratory Monitors

  • Other Monitors

Digital Patient Monitoring Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Digital Patient Monitoring Devices Market

• GE Healthcare

• AT&T

• ATHENAHEALTH, INC.

• Abbott

• Koninklijke Philips N.V. AB

• Hill-Rom Services Inc.

• Medtronic

• Omron Healthcare, Inc.

• FitBit, Inc.

• Garmin Ltd.

• VitalConnect

• ResMed

• Siren