Global Patient Monitoring Market to Reach USD 77.56 Billion by 2030, States a Report by Next Move Strategy Consulting

Increase in prevalence of chronic and infectious diseases with changes in lifestyle and surge in preference toward remote monitoring drive the global patient monitoring market growth.

New York, July 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global patient monitoring market generated the revenue of USD 36.45 billion in 2021, and is expected to reach USD 77.56 billion by 2030, registering a CAGR of 8.7% from 2022 to 2030. The report is useful for availing a thorough analysis of changing market dynamics, current size and estimations, and leading market players. In addition, the report offers region-wise and country-wise analysis along with the detailed segmentation.

Presenting the entire scenario of the patient monitoring industry in 180 pages, the research aims to assist shareholders, investors, C-level executives, and decision makers in business organizations in determining the current situation and estimations for the future. In addition, the analysis is presented in tabular and graphical formats with 552 tables and 553 figures.

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Report CoverageDetails
Forecast Period 2022–2030
Base Year 2021
Market Size in 2021USD 36.45 billion
Market Size in 2030USD 77.56 billion
No. of Pages180
Segments coveredProduct, End User, Type, and Geography.
DriversIncrease in prevalence of chronic and infectious diseases with changes in lifestyle
Surge in preference toward remote monitoring
OpportunitiesConsiderable surge in demand for patient monitoring devices in non-hospital settings
Increase in investments in healthcare IT

The report provides an extensive analysis of driving forces, growth-inhibiting factors, and opportunities of the global patient monitoring market. This analysis is essential in offering market players an insight into what factors to be capitalized on to raise their stakes in the market. Increase in prevalence of chronic and infectious diseases with changes in lifestyle and surge in preference toward remote monitoring drive the growth of the market. Moreover, rise in wearable device adoption supplements the market growth. On the other hand, high costs related to monitoring devices inhibit the growth up to certain extent.

Highlighting the opportunities that can be tapped on to raise the patient monitoring market share by market players, the Lead Analyst for the Semiconductor & Electronics category at Next Move Strategy Consulting, said, “There is a surge in demand for remote patient monitoring devices in non-hospital settings. In addition, the investments in healthcare IT are increasing considerably. These factors offer significant opportunities in the coming years.”

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The report provides an extensive analysis of each segment and its sub-segment to assist market players and investors in determining the performance and tapping on opportunities. The report segments the global patient monitoring market into product, type, end user, and geography. Based on product, the report sub-classifies the market into cardiac monitoring devices, hemodynamic/pressure monitoring devices, blood glucose monitoring systems, respiratory monitoring devices, multi-parameter monitoring devices, fetal & neonatal monitoring devices, temperature monitoring device, weight monitoring devices, neuromonitoring devices, and others devices. Based on type, the research bifurcates the market into conventional and wireless. On the basis of end user, the study further categorizes the market into home healthcare, hospitals & clinics, and others.       

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Based on geography, the research divides the market into North America, Europe, Asia-Pacific, and RoW. According to the report, North America held the highest market share in 2021, and will maintain its highest contribution during the forecast period. This is due to rise in R&D to develop innovative sensor-based patient monitoring systems, increase in acceptance of mHealth apps, and rise in investments in the healthcare sector. However, Asia-Pacific will experience a rapid growth during the forecast period. This is attributed to increase in adoption of remote patient monitoring devices and rise in incidence of diseases related to heart and lungs.

The research offers a detailed analysis of each segment and sub-segment based on regions and countries. This assists leading players in devising expansion strategies and investors in determining the feasibility of their investments. These insights are presented in the form of figures and tables to raise the understanding and assist in taking steps to increase the overall patient monitoring market size.

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The report offers a detailed analysis of the leading players operating in the global patient monitoring market. The key market players analyzed in the report include Koninklijke Philips, Medtronic, GE Healthcare, Abbott Laboratories, Mindray Medical, Edwards Lifesciences Corporation, Hill-Rom Holdings, Inc., Masimo Corporation, OMRON Corporation, and Bio-Medical Electronics Co., Ltd. They adopted various strategies such as joint ventures, expansion, new product launches, collaborations, and others to strengthen their stakes in the market.

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