North America holds the largest share of 34.0% of the Patient Monitoring market

Patient Monitoring Devices Market The global patient monitoring devices market, valued at US$45.7 billion in 2022, stood at US$48.5 billion in 2024 and is projected to advance at a resilient CAGR of 8.0% from 2024 to 2029, culminating in a forecasted valuation of US$71.1 billion by the end of the period. This growth is driven by factors such as the increasing prevalence of chronic disorders, an aging population, advancements in healthcare technology, and the rising adoption of wireless monitoring devices. Major companies in this market include Medtronic, GE Healthcare, Philips Healthcare, Nihon Kohden, Abbott Laboratories, and Mindray Medical. Key product segments are blood glucose monitoring systems, cardiac monitoring devices, multi-parameter monitoring, respiratory monitoring, hemodynamic monitoring, weight monitoring, fetal & neonatal monitoring, neuromonitoring, and temperature monitoring devices.

The expansion of the patient monitoring market is propelled by several synergistic factors, including increasing demand for wireless monitoring solutions, biosensors, the presence of key market players in developing regions, rising public-private investments to support for the clinical research, increasing geriatric patient population, and escalating chronic disorder prevalence.

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Patient Monitoring Devices Market Scope:

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Blood Glucose Monitoring systems segment to register a significant growth rate over the forecast period of 2024-2029.

Based on the product, the patient monitoring market is segmented into Blood glucose monitoring system (self-monitoring, continuous glucose monitoring, wearable glucose monitoring), Cardiac Monitoring Devices, Multi-Parameter Monitoring, Respiratory Monitoring Devices, Hemodynamic/ Pressure Monitoring Devices, Weight Monitoring Devices, Fetal & Neonatal Monitoring Devices, Neuromonitoring Devices, Temperature Monitoring Devices and others. It is primarily driven by the exacerbating global prevalence of diabetes. Alarming increases in risk factors like obesity, physical inactivity, and unhealthy dietary habits are leading to a rapid rise in Type 2 diabetes diagnoses worldwide. This translates to a larger population requiring effective blood sugar management solutions. Furthermore, Regular blood glucose monitoring enables the early detection of hyperglycemia (high blood sugar) and hypoglycemia (low blood sugar) episodes. This facilitates timely interventions that can prevent serious and potentially life-threatening complications associated with diabetes.

North America to account for a significant market share in the patient monitoring market in 2023.

Based on region, The patient monitoring market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with North America dominating the market share in 2023. This dominance in North America is propelled by factors such as a growing burden of chronic diseases like diabetes, heart disease, and respiratory illnesses. These conditions require continuous monitoring to manage effectively, leading to increased demand for patient monitoring systems. Furthermore, There’s a growing shift towards preventative healthcare in North America. Patient monitoring systems play a crucial role in early disease detection and prevention, leading to improved patient outcomes and reduced healthcare costs in the long run.

Patient Monitoring Devices Market – Key Benefits of Buying the Report:

The report will help the new entrants/ market leaders/smaller firms in this market with investment evaluation viability within the patient monitoring market through a thorough analysis of comprehensive data, thereby facilitating robust risk assessment and enabling well-informed investment determinations. Benefit from meticulous market segmentation encompassing end-user, and regional dimensions, affording tailored insights for precise segment targeting. The report also provides an all-encompassing evaluation of encapsulating pivotal trends, challenges, growth catalysts and prospects, thereby empowering strategic decision-making with astute discernment.

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