U.S. Digital Patient Monitoring Devices Market Size & Outlook
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U.S. digital patient monitoring devices market highlights
- The U.S. digital patient monitoring devices market generated a revenue of USD 50,217.1 million in 2023 and is expected to reach USD 237,478.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 24.9% from 2024 to 2030.
- In terms of segment, wearable devices was the largest revenue generating type in 2023.
- MHealth is the most lucrative type segment registering the fastest growth during the forecast period.
Digital patient monitoring devices market data book summary
| Market revenue in 2023 | USD 50,217.1 million |
| Market revenue in 2030 | USD 237,478.4 million |
| Growth rate | 24.9% (CAGR from 2023 to 2030) |
| Largest segment | Wearable devices |
| Fastest growing segment | MHealth |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wireless Sensor Technology, MHealth, Telehealth, Wearable Devices, Remote Patient Monitoring |
| Key market players worldwide | GE HealthCare Technologies Inc Common Stock, AT&T, Athenahealth, Abbott Laboratories, Koninklijke Philips NV, Hill-Rom, Medtronic PLC, OMRON Corp, Fitbit, Garmin Ltd, ResMed Inc, Siren |
Other key industry trends
- In terms of revenue, U.S. accounted for 35.8% of the global digital patient monitoring devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. digital patient monitoring devices market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 35,292.3 million by 2030.
The U.S. accounted for the largest share in North America due to availability of advanced technologies and recent approval to many digital patient monitoring devices. Manufacturers are investing on R&D to obtain approvals for new products.
For instance, Abbott Laboratories announced FDA approval for the FreeStyle Libre 2 iCGM system for children and adults with diabetes in June 2020. It continuously transmits glucose data every minute and includes customizable, elective real-time alarms to notify consumers when their glucose levels are too low or too high, without the need to scan.
In addition, growth can be attributed to growing geriatric population and increase in penetration of remote patient monitoring devices. Growing prevalence of chronic diseases, such as diabetes, COPD, atherosclerosis, and cancer, also contributes to growth. According to the American Diabetes Association, approximately 34.2 million people in the U.S. were suffering from diabetes in 2018.
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Digital Patient Monitoring Devices Market Scope
Digital Patient Monitoring Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| GE HealthCare Technologies Inc Common Stock | View profile | 51,000 | 500 West Monroe Street, Chicago, IL, United States, 60661 | www.gehealthcare.com |
| Abbott Laboratories | View profile | 114,000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | www.abbottinvestor.com |
| Koninklijke Philips NV | View profile | 73,712 | Philips Center, Amstelplein 2, Amsterdam, Netherlands, 1096 BC | www.philips.com |
| ResMed Inc | View profile | 10,140 | 9001 Spectrum Center Boulevard, San Diego, CA, United States, 92123 | www.resmed.com |
| Medtronic PLC | View profile | 95,000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | www.medtronic.com |
| OMRON Corp | View profile | 28,034 | Shiokoji Horikawa, Shimogyo-ku, Kyoto, Japan, 600-8530 | www.omron.co.jp |
| Garmin Ltd | View profile | 19,900 | Muhlentalstrasse 2, Schaffhausen, Switzerland, 8200 | www.garmin.com |
| Hill-Rom | View profile | 10001+ | Chicago, Illinois, United States, North America | www.hillrom.com/ |
| Fitbit | View profile | 251-500 | San Francisco, California, United States, North America | www.fitbit.com |
| AT&T | View profile | 10001+ | Dallas, Texas, United States, North America | www.att.com |
U.S. Digital Patient Monitoring Devices Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Digital Patient Monitoring Devices Market Outlook will help companies and investors design strategic landscapes.
Wearable Devices was the largest segment with a revenue share of 31.3% in 2023.
Horizon Databook has segmented the U.S. digital patient monitoring devices market based on wireless sensor technology, mhealth, telehealth, wearable devices, remote patient monitoring covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. accounted for the largest share in North America due to availability of advanced technologies and recent approval to many digital patient monitoring devices. Manufacturers are investing on R&D to obtain approvals for new products.
For instance, Abbott Laboratories announced FDA approval for the FreeStyle Libre 2 iCGM system for children and adults with diabetes in June 2020. It continuously transmits glucose data every minute and includes customizable, elective real-time alarms to notify consumers when their glucose levels are too low or too high, without the need to scan.
In addition, growth can be attributed to growing geriatric population and increase in penetration of remote patient monitoring devices. Growing prevalence of chronic diseases, such as diabetes, COPD, atherosclerosis, and cancer, also contributes to growth. According to the American Diabetes Association, approximately 34.2 million people in the U.S. were suffering from diabetes in 2018.
- U.S. Digital Patient Monitoring Devices Market Type Outlook (Revenue, USD Million , 2018-2030)
- Wireless Sensor Technology
- mHealth
- Telehealth
- Wearable Devices
- Remote Patient Monitoring
- U.S. Digital Patient Monitoring Devices Market Product Outlook (Revenue, USD Million , 2018-2030)
- Diagnostic Monitoring Devices
- Therapeutic Monitoring Devices
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. Digital Patient Monitoring Devices Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.S. Digital Patient Monitoring Devices Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.S. Digital Patient Monitoring Devices Market, 2018-2030 (US$M)
US Type - Digital Patient Monitoring Devices Market Statistics, 2023 - 2030 (US$M)
