New York, NY, May 10, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Global Digital Patient Monitoring Devices Market Share, Size, Trends, Industry Analysis Report, By Type (Wireless Sensor Technology, mHealth, Telehealth, Wearable Devices, Remote Patient Monitoring); By Product; By Region; Segment Forecast, 2023 – 2032” in its research database.
“As per the latest research analysis, the global digital patient monitoring (DPM) devices market size/share will be valued at roughly USD 93.47 Billion in 2022, and its revenue is projected to reach about USD 778.69 Billion by 2032. The market is forecasted to expand at a compound annual growth rate of approximately 23.6% between 2023 and 2032.”
What are Digital Patient Monitoring (DPM) Devices? How Big is Digital Patient Monitoring (DPM) Devices Market Size & Share?
- Overview
Digital patient monitoring devices are a kind of medical technology that permits health care licenses to distantly observe and trace the essential symptoms and health footing of the patients. The rapidly rising demand for the digital patient monitoring devices market can be attributed to the fact that these symptoms can be conveyed to doctors electronically and can also be combined with the EHR. This permits the providers to constantly observe the patient abolishing the requirement of periodic hospital visits.
Growing demand for constant monitoring gadgets and the growing existence of dangerous illnesses such as hypertension, diabetes, and cardiovascular diseases are elements pushing the market's growth. The augmentation of the industry can be credited to the growth in demand for monitoring gadgets utilized to evaluate, allocate, register, and exhibit a diversity of biometric data, including temperature, blood pressure, and blood oxygen saturation level.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Abbott
- Athenahealth
- Biotronik SE & CO. KG
- FitBit
- Garmin Ltd.
- GE Healthcare
- Hill-Rom Services Inc.
- Koninklijke Philips N.V.
- Koninklijke Philips N.V. AB
- Masimo
- Medtronic
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Prominent Market Drivers
- The increase in dangerous illnesses: The increasing aggregate of dangerous illnesses such as stroke, diabetes, and kidney disease pushes the demand for these devices. For instance, as per the WHO, approximately 422 million people worldwide have diabetes. The aggregate of asthma patients, dangerous obstructive pulmonary disease patients (COPD), and escalated existence of tobacco smoking is proliferating speedily.
- Remote approachability: As per the WHO, approximately 235 million people develop asthma. Therefore, peak flow meters which are utilized to measure respiration rate, are growingly utilized. The digital patient monitoring devices market size is expanding due to the coherence by which it is managed, conveyed, and remotely approachable. Prominent market players are undertaking several strategies to augment the industry, including collaboration, alliance, innovation, instigation, and affiliation.
- Wearable technology: The increasing acceptance of apparel remote devices is another element fuelling the market's augmentation. By combining clinical maladies with important barometers, wearable technology assists in identifying several dangerous illnesses.
- Usefulness to patients: The market is driven by an amalgamation of technological, demographic, and societal elements. Digital patient monitoring devices market sales are soaring with the evolution of the market. It is apparent that contemporary and inventive digital patient monitoring devices surface, providing even more progressive potency and pronounced usefulness to patients and healthcare providers alike.
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Top Report Findings
- The increasing aggregate of dangerous illnesses such as stroke, diabetes, and kidney disease is pushing the demand for these devices.
- The market is essentially divided into type, product, and region.
- The leading region of the market in North America
Top Trends Influencing the Market
- Constant tracking of patients: One of the critical advantages of digital patient monitoring devices is that they permit constant tracking of patients even when they are outside the hospital and clinic. This can especially be advantageous for patients with dangerous illnesses or those that need repeated monitoring as it can assist in lessening the requirement for hospitalization and permit the patients to stay at their homes.
- Precise data: These devices can also provide healthcare professionals with additionally extensive and precise data than conventional monitoring methods, which can enhance the perfection of illnesses and remedial plans.
- Lessening physical visits: An added advantage of digital patient monitoring devices is that they can lessen the overload on healthcare systems by reducing the requirement for physical visits and hospitalizations. This can be especially advantageous for distant or destitute areas where the approach to healthcare systems must be restricted.
Segmental Analysis
- The diagnostic monitoring segment is anticipated to witness the fastest growth
Based on the product, the diagnostic monitoring segment is anticipated to witness the fastest growth. Digital patient monitoring devices market demand is on the rise due to the progression in technology, growing demand for customized healthcare, and the increasing dominance of dangerous illnesses.
- The wireless sensor technology segment accounted for the largest market share
Based on type, the wireless sensor technology segment accounted for the largest market share. Digital patient monitoring devices market trends include wireless blood glucose monitors, pulse oximeters, and wearable gadgets that can trace a broad gamut of physiological data. Also, growing demand for distant patient monitoring technologies that permit patients to handle their health from the solace of their own homes.
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Digital Patient Monitoring (DPM) Devices Market: Report Scope & Coverage
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 778.69 Billion |
| Market size value in 2023 | USD 115.33 Billion |
| Expected CAGR Growth | 23.6% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Abbott, Athenahealth, Biotronik SE & CO. KG, FitBit, Garmin Ltd., GE Healthcare, Hill-Rom Services Inc., Koninklijke Philips N.V., Koninklijke Philips N.V. AB, Masimo, Medtronic, Nihon Kohden Corporation, Omron, ResMed, Siren, Vital Connect |
| Segments Covered | By Type, By Product, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
North America: This region held the largest digital patient monitoring devices market share, including increasing healthcare disbursement and an escalating geriatric population. The covid-19 pandemic has additionally escalated the acceptance of remote monitoring technologies, especially amidst the elderly populace and patients with dangerous illnesses.
Asia Pacific: Several elements have prompted the growth in Asia Pacific, namely growing healthcare disbursement, the consciousness of dangerous illnesses, and an increasing geriatric populace. With the increasing prosperity of countries such as India and China, there is an accelerated demand for superior healthcare services which is driving the market growth in the region.
Browse the Detail Report “Global Digital Patient Monitoring Devices Market Share, Size, Trends, Industry Analysis Report, By Type (Wireless Sensor Technology, mHealth, Telehealth, Wearable Devices, Remote Patient Monitoring); By Product; By Region; Segment Forecast, 2023 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/digital-patient-monitoring-devices-market
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Recent Developments
- In April 2021, Garmin Ltd. announced the launch of a new wearable device, the Venu 2, which includes advanced health monitoring features such as respiration and menstrual cycle tracking.
- In August 2021, Garmin Ltd. announced the launch of a new sleep-tracking feature for its smartwatches, which uses advanced algorithms to monitor users' sleep quality.
Frequently Asked Questions
- What are the key segments in the market?
- How much is the market worth?
- At what CAGR is the market forecast to grow?
- Which region is leading the market?
- What are the key driving factors in the market?
- Which product segment led the market?
Polaris Market Research has segmented the Global Digital Patient Monitoring Devices market report based on Type, Product, and region:
By Type Outlook
- Wireless Sensor Technology
- mHealth
- Telehealth
- Wearable
- Remote Patient Monitoring
- Hospital Inpatient
- Ambulatory Patient
- Smart Home Healthcare
By Product Outlook
- Diagnostic Monitoring
- Vital Sign Monitors
- Sleep Monitors
- Fetal Monitors
- Neuromonitors
- Other Monitors
- Therapeutic Monitoring
- Insulin Monitors
- Respiratory Monitors
- Other Monitors
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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