Patient Monitors Market Analysis

Market Insights

The patient monitors market was valued at US$ 46.5 billion in 2021 and is projected to reach US$ 77.21 billion by 2028, registering a CAGR of 7.48% during the forecast period.

Patient monitors are monitoring devices that continuously monitor the patient’s vital parameters, like blood pressure and heart rates, by employing a medical monitor and collecting medical (and other) data from individuals. Patient monitoring systems are widely accustomed record, measure, distribute and display combinations of biometric values like blood oxygen saturation levels (SPO2), heart rate, blood pressure, and temperature.

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A significant surge in the number of hospitals using telehealth to provide healthcare services remotely is a key driving factor. Patient monitors help to reduce healthcare costs and reduce the burden on medical resources. Moreover, the growing prevalence of chronic diseases among consumers such as cancer, bronchitis, and diabetes, cardiovascular diseases, along with the expanding geriatric populace is expected to bolster the market growth during the review period.

The COVID-19 outbreak impacted the growth of the patient monitors market positively as the visits to hospitals for medical consultation decreased due to fear of getting infected. The usage of patient monitors made it easier for patients to be able to consult healthcare providers online.

Key Players

Key players operating in the patient monitors market are-

• Abbott Laboratories (US)
• Baxter International Inc. (US)
• Boston Scientific Corporation (US)
• Becton
• Dickinson and Company (US)
• General Electric Company (GE Healthcare) (US)
• Johnson & Johnson (US)
• Masimo Corporation (US)
• Medtronic Care Management Services LLC (US)
• Omron Corporation (Japan).

Segment Analysis

End-User Trends

The market has been divided into hospital-based patients, ambulatory patients, and home healthcare. The hospital-based patient’s segment accounted for a revenue share of nearly 50% in 2021. The segment growth can be attributed to the prevalence of many patients in the hospitals. The home healthcare segment is projected to register the fastest CAGR due to the increasing number of people interacting with the doctors at home coupled with convenience, availability of skilled staff, and cost-efficiency.

Regional Analysis

The North American market accounted for a revenue share of nearly 40% in 2021 and is expected to grow at a substantial CAGR in the following years due to the increasing prevalence of chronic diseases, expanding geriatric populace, and high demand for low-cost healthcare treatment. The market in the Asia-Pacific region is projected to register a healthy growth rate on account of the rising in number of people suffering from chronic diseases and the increasing adoption of digitally advanced solutions.

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Target Audience

Here is the list of the group of customers that the patient monitors market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

What deliverables will you get in this report?

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By Product Type

• Software & Services
• Devices

By End-User Type

• Hospital Based Patients
• Ambulatory Patients
• Home Healthcare

By Application Type 

• Cancer
• Cardiovascular Diseases
• Bronchitis
• Diabetes
• Infections
• Others

By Region

• North America
• Asia-Pacific
• Europe
• Rest of the World

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.