Patient Monitoring Devices Market Size By Product (Cardiac Monitoring Devices {ECG Devices, Implantable Loop Recorders, Mobile Cardiac Telemetry Monitors, Smart Wearable ECG Patches}, Neuromonitoring Devices {EEG Devices, Cerebral Oximeters, Intracranial Pressure Monitors, EMG Devices}, Respiratory Monitoring Devices {Pulse Oximeters, Spirometers, Capnographs, Peak Flow Meters}, Anasthesia Monitor, Hemodynamic Monitoring Devices, Fetal and Neonatal Monitoring, Multiparameter Devices), By Type (Conventional, Wireless), By End-use (Hospitals, Ambulatory Surgical Centers (ASCs), Homecare Settings), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jul 2020  |  Report ID: GMI4069  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 180   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Patient Monitoring Devices Market size exceeded USD 20.4 billion in 2019 and is poised to grow at a CAGR of over 6.1% between 2020 and 2026.

Patient monitoring devices measure, distribute, record and display combinations of biometric values including temperature, blood pressure and heart rate, among others. From past few years, the digital technologies powering patient monitoring devices have widely influenced the operational costs.

The abilities of remote patient monitoring devices to effectively record vital health parameters will influence the patient monitoring devices market expansion. According to Information Handling Services, by 2020, around 4 million patients monitor their health conditions remotely. Several remote patient monitoring devices such as Mitra, DexCom and Riverfield are specifically designed for sample collection at home making it easier and cost-effective.

Patient Monitoring Devices Market

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Increasing demand for continuous patient monitoring devices will drive the market revenue

Over the past few years, many hospital patients have suffered complications and even died after operation due to unnoticed respiratory depression after consuming opioids. This has raised the demand and usage for continuous patient monitoring devices. Various benefits associated with continuous patient monitoring devices such as reduction in intensive care unit utilization, shorter hospital stay, and an easy alert mechanism will foster the patient monitoring devices industry progression. However, high cost associated with advanced patient monitors may hamper the market growth.

Patient Monitoring Devices Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 20,460.7 Million
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6.1% 2026 Value Projection: USD 32,611.5 Million
Pages: 180 Tables, Charts & Figures: 184
Geographies covered (18): U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE
Segments covered: Product, Type, End-use and Region
Companies covered (14): Philips, Siemens, GE Healthcare, Nihon Kohden, OSI Systems, Fukuda, Medtronic, Hill-Rom Holdings, Mindray, Skanray Technologies, Epsimed, Sensata Technologies, Opto India, Medion Healthcare
Growth Drivers:
  • Technological advancements in patient monitoring industry in developed regions
  • Improving regulatory scenario for patient monitors in Asia Pacific
  • Increasing number of hospital admissions globally
  • Growing preference for telehealth services
Pitfalls & Challenges:
  • High cost of patient monitoring devices

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Surging demand for remote cardiac monitoring will boost the market growth

The cardiac monitoring devices segment valuation was over USD 2.4 billion in 2019, owing to rising prevalence of cardiovascular diseases worldwide. Large population base suffering from cardiovascular diseases undergo different surgical treatments and requires accurate monitoring of vital parameters, influencing the market growth. Moreover, manufacturers including Medtronic have introduced technologically advanced products to get accurate information for better patient care that further stimulates the market expansion.

Easy and quick monitoring compared to conventional devices surges the demand for wireless patient monitoring devices

Global Patient Monitoring Devices Market By Type

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The wireless segment accounted for more than 36% patient monitoring devices market share in 2019. Wireless monitor near to the patient’s bed can measure and transfer vital sign information to doctors via mobile to immediately check on patient’s health. The wireless monitor eliminates the necessity for separate monitors and is entirely networked with export capability.

Drägerwerk’s Infinity M540 is a wireless portable patient monitoring device that reduces intensive care unit utilization for individuals requiring transfer due to clinical deterioration to support patient safety. Similarly, these devices are preferred among geriatric population base to continuously check their health conditions at regular intervals.  

Ambulatory surgical centers segment may dominate the market share due to surging number of chronic disorders

The ambulatory surgical centers segment is estimated to witness around 6% growth during the forecast period. A large number of population base in the developed economies is inclined towards ASCs, as they are equipped with advanced patient monitoring devices and well-developed infrastructure. Conventional type of patient monitoring device is specifically preferred in ASCs as they are cost-effective. Various benefits such as minimized risk of hospital-acquired infection, shorter hospital stay and quality treatment raise patient preference towards ASCs, fostering the market size.

Presence of leading market players in the European region proves beneficial for the regional industry growth

Europe Patient Monitoring Devices Market By Country

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Europe patient monitoring devices market held substantial revenue share in 2019 and will register growth rate of around 6% through 2026. Surging elderly population base suffering from different chronic conditions requiring continuous monitoring will propel the market growth across the region.

Moreover, presence of foremost market leaders along with well-established infrastructure as well as healthcare facilities will fuel the industry growth over the coming years. For instance, Philips patient monitoring device is specifically designed to assist clinicians make improved decisions and treat patients with continuum of care that secures the overall company’s market growth.

Strategic initiatives undertaken by key market players have helped them to maintain their financial stability

Some of the prominent companies operating in the patient monitoring devices industry include Philips, kanray Technologies, Medtronic, Epsimed, OSI Systems, Medion Healthcare, GE Healthcare, Siemens Healthineers, Sensata Technologies, Hill-Rom Holdings, Fukuda and Mindray. The market players have undertaken various growth strategies to garner higher revenue share in the industry.

Some of the recent industry developments:

  • In November 2019, Royal Philips introduced EarlyVue VS30, a vital sign monitor. It calculates risk-based alerts and collects vital signs that will allow identification of subtle signs of patient deterioration to clinicians. The new product launch will strengthen company’s product portfolio and secure its market position, thereby providing competitive edge.
  • In October 2018, Siemens healthineers collaborated with that has helped patients to improve compliance with chronic kidney disease monitoring. This strategic alliance provided market penetration opportunities to the company.

The patient monitoring devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

Market, By Product

  • Cardiac monitoring devices
    • Implantable loop recorders 
    • Mobile cardiac telemetry monitors 
    • Smart wearable ECG patches
  • Neuromonitoring devices
    • EEG devices
    • Cerebral oximeters 
    • Intracranial pressure monitors 
    • EMG devices
  • Respiratory monitoring devices
    • Pulse oximeters 
    • Spirometers 
    • Capnographs 
    • Peak flow meters
  • Anesthesia monitor
  • Hemodynamic monitoring devices
  • Fetal and neonatal monitoring
  • Multiparameter monitoring devices
  • Others

Market, By Type

  • Conventional
  • Wireless

Market, By End-use

  • Hospitals
  • Ambulatory surgical centers
  • Homecare settings
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE


Frequently Asked Questions (FAQ) :

The market size of patient monitoring devices exceeded USD 20.4 billion in 2019.
The industry share of patient monitoring devices is poised to grow at a CAGR of over 6.1% between 2020 and 2026.
European market held substantial revenue share in 2019 and will register growth rate of around 6% through 2026.
According to the analysts at GMI, the wireless segment accounted for more than 36% market share in 2019.
Some of the prominent industry players include Philips, kanray Technologies, Medtronic, Epsimed, OSI Systems, Medion Healthcare, GE Healthcare, Siemens Healthineers, Sensata Technologies, Hill-Rom Holdings, Fukuda and Mindray.

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Premium Report Details

  • Published Date: Jul 2020
  • Pages: 180
  • Tables: 176
  • Charts / Figures: 8
  • Companies covered: 14
  • Countries covered: 18

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