Condition monitoring in healthcare refers to leveraging real-time data for diagnosing an individual’s health or monitoring environmental conditions essential for the transportation of pharmaceutical products such as biologics. There are several condition monitoring devices that are used for patient monitoring, such as blood pressure monitors, glucometers, pulse oximeters, and electrocardiography (ECG) monitors. They consist of mostly self-testing devices that constantly help in monitoring data to assess and evaluate better outcomes. There are several advantages of using these remote monitoring devices. They help in reducing the costs and save time for the efficient monitoring of the health condition of an individual.

Besides patient monitoring, condition monitoring devices help in monitoring environmental parameters which are essential for developing pharmaceutical products. Pharmaceutical products such as biologics and samples are sensitive to a wider range of parameters such as heat, humidity, and light. Hence, cold chain systems are used for improving and ensuring precise temperature monitoring, data logging, and cold chain monitoring for preserving the integrity of pharmaceutical products.

Market Dynamics

Key market players are focused on launching new condition monitoring devices which can be used in homecare settings. This, in turn, is propelling the market growth. For instance, on January 21, 2021, Tyto Care, a telehealth company, launched Fingertip Pulse Oximeter (SpO2) medical device for measuring the heart rate and blood oxygen saturation levels remotely. The device facilitates blood oxygen examination in home setting with real-time results. Thus, the virtual examination solution can be suitable for patients with chronic lungs & heart conditions, as well as the Covid-19, and help the patients in avoiding hospital and clinic visits.

 Key features of the study

• This report provides an in-depth analysis of the global condition monitoring device market, market size (USD Mn), and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global condition monitoring device market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, strategies.
• Key companies covered as a part of this study include General Electric Company, Koninklijke Philips N.V., Nihon Kohden Corporation, Hoffmann-La Roche Ltd, Braun Melsungen AG, Abbott, Masimo, Smiths Medical, 1byone, Inc., B Medical Systems, IndoSurgicals Pvt. Ltd., Biomedhelix (Pty) Ltd., and Thermofisher Scientific Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global condition monitoring device market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global condition monitoring device market.

Market Segmentation

• Global Condition Monitoring Device Market, By Type, 2020 - 2032 (USD Mn)
• Vibration Monitoring
• Thermography
• Lubricating Oil Analysis
• Motor Current Analysis
• Ultrasound Emission Monitoring
• Corrosion Monitoring
• Global Condition Monitoring Device Market, By Component, 2020 - 2032 (USD Mn)
• Hardware
• Software
• Global Condition Monitoring Device Market, By Deployment, 2020 - 2032 (USD Mn)
• Cloud
• On-premises
• Global Condition Monitoring Device Market, By Industry, 2020 - 2032 (USD Mn)
• Oil & Gas
• Power Generation
• Metals & Mining
• Chemicals
• Automotive
• Aerospace & Defense
• Food & Beverages
• Marine
• Others (Healthcare, Cement, Paper & Pulp, and Semiconductor & Electronics)
• Global Condition Monitoring Device Market, By Region, 2020 - 2032 (USD Mn)
• • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
• Key Players Insights
  • Rockwell Automation, Inc.
  • Baker Hughes Company (Bently Nevada)
  • SKF Group
  • Parker Hannifin
  • PCB Piezotronics Inc.
  • TE Connectivity
  • AMETEK Inc.
  • THE TIMKEN COMPANY
  • ITT INC. 
  • Schaeffler Technologies AG & Co. KG