Digital Patient Monitoring Devices Market Expected to Reach US ~$122.26 Billion and CAGR 23.0% by 2028
The global digital patient monitoring devices market size is expected to reach USD 122.26 billion by 2028 according to a new study by Polaris Market Research.
The global surge in adoption of digital tools for chronic disease management along with the rising awareness and adoption of home healthcare as well as robust growth of the global geriatric population with ailments that need quick treatments, for instance, heart failure, diabetes, and chronic obstructive pulmonary disease (COPD), and others are the key forces that boost the digital product demand.
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Despite several positive facts concerning digital examining machines, the concerns associated with data security & privacy are the top-most factors that hamper the global market growth. However, the digital examination is a fast-moving healthcare field, and new techniques and technology integration is constantly evolving. This evolving methodology of overseeing patient care is a way to adapt to the emerging needs of patients, thereby creating a lucrative growth opportunity.
The market players include 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. are operating in the global market.
In June 2021, Max Healthcare and MyHealthcarelaunched an artificial intelligence (AI) remote patient examining framework. The launch of remote patient care monitoring will expand the geographical presence of Max Healthcare which results in allowing patients to stay connected with Max Hospitals and its doctors.
Previously, in February 2021, Philips launched Philips Medical Tablet, a remote examining kit that assists doctors and clinicians in examining larger populations during the COVID-19 pandemic.
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Polaris Market Research has segmented the digital patient monitoring devices market report on the basis of type, product, and region:
Digital Patient Monitoring Devices, Type Outlook (Revenue – USD Million, 2016 – 2028)
- Wireless Sensor Technology
- Remote Patient Monitoring
- Hospital Inpatient
- Ambulatory Patient
- Smart Home healthcare
Digital Patient Monitoring Devices, Product Outlook (Revenue – USD Million, 2016 – 2028)
- Diagnostic Devices
- Vital Sign Monitors
- Sleep Monitors
- Fetal Monitors
- Other Monitors
- Therapeutic Devices
- Insulin Monitors
- Respiratory Monitors
- Other Monitors
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