NEW YORK, July 27, 2023 /PRNewswire/ -- The patient monitoring equipment market size is forecasted to increase by USD 20.39 billion from 2022 to 2027, at a CAGR of 8.48%, according to a recent market study by Technavio. North America is estimated to account for 44% of the market growth. Some of the key factors significantly contributing to the growth of the patient monitoring equipment market in North America are its technological innovations and the increasing geriatric population. The advanced healthcare infrastructure and the early adoption of cutting-edge medical technologies are also significantly contributing to the market growth in the region. As a result, there is a high expectation among patients regarding state-of-the-art medical equipment in the region. Furthermore, there is a strong demand for wireless connectivity, remote monitoring capabilities, and data analytics in the region which is expected to drive the market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
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Patient Monitoring Equipment Market - Segmentation Assessment
Segment Overview
The market is segmented by end-user (hospitals, clinics, and ambulatory care services), type (bedside patient monitoring equipment and remote patient monitoring equipment), and geography (North America, Europe, Asia, and the Rest of World (ROW)).
- The hospitals segment will account for a significant share of market growth during the forecast period. One of the main end-users of patient monitoring systems is the hospitals. Factors such as the need for improved patient safety, advancements in technology, the increasing prevalence of chronic diseases, the rising aging population, the need for cost-effectiveness in healthcare, and the demand for remote monitoring solutions are significantly contributing to the market growth. Hence, such factors are expected to drive market growth during the forecast period.
Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report
Patient Monitoring Equipment Market - Market Dynamics
Key factor driving market growth
The need for remote monitoring of patients drives the global patient monitoring equipment market during the forecast period. The main feature of the remote patient monitoring (RPM) system is that it enables healthcare providers to track patients outside of traditional healthcare settings. There is an increasing preference for remote patient monitoring among patients who prefer to receive care at home or in remote areas with limited access to healthcare facilities. The increasing need for hospital readmissions, enhanced patient convenience, and early detection of potential health issues are positively impacting the market growth. Hence, such factors are expected to impact the market growth during the forecast period.
Leading trends influencing the market
Several advancements in patient monitoring equipment are a key trend in the global patient monitoring equipment market. The advancement in technology, such as the development of wireless and wearable devices, has revolutionized the healthcare industry. The main advantage of these devices is that they are able to monitor vital signs, activity levels, and other physiological parameters continuously without restricting the patient's mobility. Additionally, these devices can transmit data wirelessly to healthcare professionals and also facilitate real-time monitoring and abnormalities. Furthermore, the integration of artificial Intelligence (AI) and machine learning (ML) technologies with patient monitoring equipment which has led to enhancing its accuracy, automating data analysis, and enabling predictive analytics. Hence, such factors are expected to drive market growth during the forecast period.
Major challenges hindering the market growth
Stringent regulations on medical equipment are a significant challenge hindering the global patient monitoring equipment market. The regulatory environment for medical equipment has many stringent rules and guidelines, which include manufacturers of patient monitoring equipment. For example, the US Food and Drug Administration (FDA) and other regulatory agencies in the US enforce strict compliance monitoring obligations on manufacturers of medical equipment, including patient monitoring equipment. Some of the key regulatory agencies in the US which monitor the advertising associated with medical equipment include the Federal Trade Commission, the Office of the Inspector General of the Department of Health and Human Services, the US Department of Justice, and the Attorney Generals of various states. Hence, such stringent regulations are expected to hinder the global patient monitoring equipment market growth during the forecast period.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Patient Monitoring Equipment Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the patient monitoring equipment market between 2023 and 2027
- Precise estimation of the size of the patient monitoring equipment market size and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the patient monitoring equipment market across North America, Europe, Asia, and the Rest of the World (ROW)
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of patient monitoring equipment market vendors
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Patient Monitoring Equipment Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.48% |
Market growth 2023-2027 |
USD 20.39 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
7.27 |
Regional analysis |
North America, Europe, Asia, and Rest of the World (ROW) |
Performing market contribution |
North America at 44% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Analog Devices Inc., BIOTRONIK SE and Co. KG, Contec Medical Systems Co. Ltd., Dexcom Inc., Dragerwerk AG and Co. KGaA, F. Hoffmann La Roche Ltd., Fortive Corp., General Electric Co., Johnson, and Johnson Services Inc., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Mindray Biomedical Electronics Co. Ltd., Nihon Kohden Corp., OMRON Corp., Siemens AG, Smiths Group Plc, Compumedics Ltd., and Natus Medical Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global patient monitoring equipment market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global patient monitoring equipment market 2017 - 2021 ($ billion)
- 4.2 End-user Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
- 6.2 Comparison by End-user
- Exhibit 32: Chart on Comparison by End-user
- Exhibit 33: Data Table on Comparison by End-user
- 6.3 Hospitals - Market size and forecast 2022-2027
- Exhibit 34: Chart on Hospitals - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Hospitals - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)
- 6.4 Clinics - Market size and forecast 2022-2027
- Exhibit 38: Chart on Clinics - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on Clinics - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on Clinics - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Clinics - Year-over-year growth 2022-2027 (%)
- 6.5 Ambulatory care services - Market size and forecast 2022-2027
- Exhibit 42: Chart on Ambulatory care services - Market size and forecast 2022-2027 ($ billion)
- Exhibit 43: Data Table on Ambulatory care services - Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Chart on Ambulatory care services - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Ambulatory care services - Year-over-year growth 2022-2027 (%)
- 6.6 Market opportunity by End-user
- Exhibit 46: Market opportunity by End-user ($ billion)
- Exhibit 47: Data Table on Market opportunity by End-user ($ billion)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 48: Chart on Type - Market share 2022-2027 (%)
- Exhibit 49: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 50: Chart on Comparison by Type
- Exhibit 51: Data Table on Comparison by Type
- 7.3 Bed-side patient monitoring equipment - Market size and forecast 2022-2027
- Exhibit 52: Chart on Bed-side patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Data Table on Bed-side patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
- Exhibit 54: Chart on Bed-side patient monitoring equipment - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Bed-side patient monitoring equipment - Year-over-year growth 2022-2027 (%)
- 7.4 Remote patient monitoring equipment - Market size and forecast 2022-2027
- Exhibit 56: Chart on Remote patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
- Exhibit 57: Data Table on Remote patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
- Exhibit 58: Chart on Remote patient monitoring equipment - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Remote patient monitoring equipment - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Type
- Exhibit 60: Market opportunity by Type ($ billion)
- Exhibit 61: Data Table on Market opportunity by Type ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 63: Chart on Market share by geography 2022-2027 (%)
- Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 65: Chart on Geographic comparison
- Exhibit 66: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 Asia - Market size and forecast 2022-2027
- Exhibit 75: Chart on Asia - Market size and forecast 2022-2027 ($ billion)
- Exhibit 76: Data Table on Asia - Market size and forecast 2022-2027 ($ billion)
- Exhibit 77: Chart on Asia - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Asia - Year-over-year growth 2022-2027 (%)
- 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
- Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
- Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
- Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- 9.7 US - Market size and forecast 2022-2027
- Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.8 Germany - Market size and forecast 2022-2027
- Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.9 UK - Market size and forecast 2022-2027
- Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.10 Canada - Market size and forecast 2022-2027
- Exhibit 95: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
- Exhibit 96: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
- Exhibit 97: Chart on Canada - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on Canada - Year-over-year growth 2022-2027 (%)
- 9.11 China - Market size and forecast 2022-2027
- Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.12 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ billion)
- Exhibit 104: Data Tables on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Abbott Laboratories
- Exhibit 111: Abbott Laboratories - Overview
- Exhibit 112: Abbott Laboratories - Business segments
- Exhibit 113: Abbott Laboratories - Key news
- Exhibit 114: Abbott Laboratories - Key offerings
- Exhibit 115: Abbott Laboratories - Segment focus
- 12.4 BIOTRONIK SE and Co. KG
- Exhibit 116: BIOTRONIK SE and Co. KG - Overview
- Exhibit 117: BIOTRONIK SE and Co. KG - Product / Service
- Exhibit 118: BIOTRONIK SE and Co. KG - Key offerings
- 12.5 Compumedics Ltd.
- Exhibit 119: Compumedics Ltd. - Overview
- Exhibit 120: Compumedics Ltd. - Product / Service
- Exhibit 121: Compumedics Ltd. - Key offerings
- 12.6 Dexcom Inc.
- Exhibit 122: Dexcom Inc. - Overview
- Exhibit 123: Dexcom Inc. - Product / Service
- Exhibit 124: Dexcom Inc. - Key news
- Exhibit 125: Dexcom Inc. - Key offerings
- 12.7 F. Hoffmann La Roche Ltd.
- Exhibit 126: F. Hoffmann La Roche Ltd. - Overview
- Exhibit 127: F. Hoffmann La Roche Ltd. - Business segments
- Exhibit 128: F. Hoffmann La Roche Ltd. - Key news
- Exhibit 129: F. Hoffmann La Roche Ltd. - Key offerings
- Exhibit 130: F. Hoffmann La Roche Ltd. - Segment focus
- 12.8 General Electric Co.
- Exhibit 131: General Electric Co. - Overview
- Exhibit 132: General Electric Co. - Business segments
- Exhibit 133: General Electric Co. - Key news
- Exhibit 134: General Electric Co. - Key offerings
- Exhibit 135: General Electric Co. - Segment focus
- 12.9 Johnson and Johnson Services Inc.
- Exhibit 136: Johnson and Johnson Services Inc. - Overview
- Exhibit 137: Johnson and Johnson Services Inc. - Business segments
- Exhibit 138: Johnson and Johnson Services Inc. - Key news
- Exhibit 139: Johnson and Johnson Services Inc. - Key offerings
- Exhibit 140: Johnson and Johnson Services Inc. - Segment focus
- 12.10 Koninklijke Philips NV
- Exhibit 141: Koninklijke Philips NV - Overview
- Exhibit 142: Koninklijke Philips NV - Business segments
- Exhibit 143: Koninklijke Philips NV - Key news
- Exhibit 144: Koninklijke Philips NV - Key offerings
- Exhibit 145: Koninklijke Philips NV - Segment focus
- 12.11 Masimo Corp.
- Exhibit 146: Masimo Corp. - Overview
- Exhibit 147: Masimo Corp. - Product / Service
- Exhibit 148: Masimo Corp. - Key offerings
- 12.12 Medtronic Plc
- Exhibit 149: Medtronic Plc - Overview
- Exhibit 150: Medtronic Plc - Business segments
- Exhibit 151: Medtronic Plc - Key news
- Exhibit 152: Medtronic Plc - Key offerings
- Exhibit 153: Medtronic Plc - Segment focus
- 12.13 Natus Medical Inc.
- Exhibit 154: Natus Medical Inc. - Overview
- Exhibit 155: Natus Medical Inc. - Product / Service
- Exhibit 156: Natus Medical Inc. - Key news
- Exhibit 157: Natus Medical Inc. - Key offerings
- 12.14 Nihon Kohden Corp.
- Exhibit 158: Nihon Kohden Corp. - Overview
- Exhibit 159: Nihon Kohden Corp. - Product / Service
- Exhibit 160: Nihon Kohden Corp. - Key news
- Exhibit 161: Nihon Kohden Corp. - Key offerings
- 12.15 OMRON Corp.
- Exhibit 162: OMRON Corp. - Overview
- Exhibit 163: OMRON Corp. - Business segments
- Exhibit 164: OMRON Corp. - Key news
- Exhibit 165: OMRON Corp. - Key offerings
- Exhibit 166: OMRON Corp. - Segment focus
- 12.16 Siemens AG
- Exhibit 167: Siemens AG - Overview
- Exhibit 168: Siemens AG - Business segments
- Exhibit 169: Siemens AG - Key news
- Exhibit 170: Siemens AG - Key offerings
- Exhibit 171: Siemens AG - Segment focus
- 12.17 Smiths Group Plc
- Exhibit 172: Smiths Group Plc - Overview
- Exhibit 173: Smiths Group Plc - Business segments
- Exhibit 174: Smiths Group Plc - Key news
- Exhibit 175: Smiths Group Plc - Key offerings
- Exhibit 176: Smiths Group Plc - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 177: Inclusions checklist
- Exhibit 178: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 179: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 180: Research methodology
- Exhibit 181: Validation techniques employed for market sizing
- Exhibit 182: Information sources
- 13.5 List of abbreviations
- Exhibit 183: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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