Condition monitoring device market
Condition Monitoring Device Market, by Product Type (Blood Pressure Monitors, Glucometers, Pulse Oximeters, ECG Monitors, Cold Chain System, and Others), by Application (Patient Monitoring and Cold Chain Logistics), by End User (Hospitals, Homecare Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
- Jun 2022
- CMI4938
- 306 Pages
- Excel & Pdf
- Medical Devices
Condition monitoring devices use digital technology for monitoring an individual’s health-related parameters such blood glucose level, oxygen levels, blood pressure, and others. These devices and sensors help in improving patient safety, reducing healthcare expenditure cost, enhancing the accessibility of healthcare services, and improving the overall operational efficiency of the healthcare industry. The integration of internet of things (IoT) technology and cloud computing technology to healthcare applications has enabled continuous monitoring of an individual’s information that can be accessed and visualized by using computers, smartphones, tablets, etc. These monitoring devices collect patient’s information, diagnoses, and disease conditions by monitoring the patient’s health and generate alerts in case of a medical emergency. Hence, owing to the major advantage of improving patient safety by offering conditional monitoring of healthcare parameters, the adoption of these devices will increase over the forecast period.
The global condition monitoring device market is estimated to be valued at US$ 1,089.4 million in 2022 and expected to exhibit a CAGR of 7.5% during the forecast period (2022-2030).
Figure 1. Global Condition Monitoring Device Market in Terms of Value (US$ million), By Region, 2022
The increasing adoption of business development strategies such as collaboration, agreement, and acquisition by key market players is anticipated to drive the global condition monitoring device market growth during the forecast period.
The market players are engaged in business development strategies, which is expected to boost the growth of the condition monitoring device market over the forecast period. For instance, in January 2022, MedSys Health, a South Florida-based start-up revolutionizing virtual care, entered in a collaboration with FirstNet a provider of reliable and interoperable network for simplifying and expanding remote patient monitoring (RPM) solutions for high-risk patients. MedSys Health provides end-to-end virtual care platforms including telemedicine, RPM, and patient engagement solutions. The company’s RPM solution helps in monitoring various conditions such as hypertension, heart disease, diabetes, and other respiratory diseases. MedSys Health is adding smartphones from AT&T embedded with FirstNet’s IoT SIMs to its remote patient monitoring kits. The kits contain one or more monitoring devices such as glucometers, pulse oximeters, blood pressure monitors, respiratory monitors, and others.
Condition Monitoring Device Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2022: | US$ 1,089.4 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 7.5% | 2030 Value Projection: | US$ 1,940.8 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
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. |
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Growth Drivers: |
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Restraints & Challenges: |
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Figure 2. Global Condition Monitoring Device Market Share in Terms of Value (US$ Million), By Product Type, 2022
Increasing efforts of key market players and research institutes for the development of new condition monitoring devices are likely to propel the market growth over the forecast period.
Research institutes and companies in various regions are developing new condition monitoring devices. For instance, in May 2020, Electronics Corporation of India Limited (ECIL) under the Department of Atomic Energy (DAE) in association with All India Institute of Medical Sciences (AIIMS), a research institute based in India, developed Monal 2020, a remote health monitoring solution. The device enables round-the-clock monitoring in home isolation conditions. It consists of an indigenously developed wearable instrument for measuring vital health parameters such as blood oxygen level, body temperature, heart rate, and respiration rate.
Global Condition Monitoring Device Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) declared the COVID-19 a pandemic on March 11, 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 392 million cases and 5.7 million deaths due to coronavirus disease (COVID-19) were reported up till February 6, 2022 across the globe.
Amidst the COVID-19 pandemic, condition monitoring devices are gaining popularity as people are increasingly adopting health monitoring devices for the regular monitoring of heath parameters such as blood glucose levels, oxygen concentration, heart rate, and others. COVID-19 patients have various symptoms such as shortness of breath, fever, decrease in oxygen saturation level, headache, dry cough, sore throat, body pain, and abnormal pulse rate. Hence, there is a growing adoption of devices such as oximeters, electrocardiograms (ECG) monitors, and blood pressure monitoring devices.
Global Condition Monitoring Device Market: Restraint
Inaccuracy associated with condition monitoring devices such as oximeters is likely to hamper the market growth. For instance, in February 2021, the U.S. Food and Drug Administration (FDA) cautioned in a new guidance about the potential inaccuracies associated with pulse oximeters. The U.S. FDA stated that there might be several reasons such as poor circulation, tobacco use, and dark skin pigmentation that may lead to inaccurate results. Hence, it was recommended that patients should not rely entirely only on home pulse oximeter measurements.
Key Players
Major players operating in the global condition monitoring device market 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.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Product Type
- Market Snapshot, By Application
- Market Snapshot, By End User
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunity
- Impact Analysis
- Key developments
- Regulatory Scenario
- Market Trends
- New Product Launches
- Acquisitions and Agreements
- Brand Analysis
- Regulatory Scenario
- PORTER’s Five Forces Analysis
- Market Dynamics
- Global Condition Monitoring Device Market – Impact of Coronavirus (COVID-19) Pandemic
- Overall Impact on Healthcare
- Impact on Condition Monitoring Device Manufacturing and Its Market Demand
- COVID-19 Epidemiology
- Global Condition Monitoring Device Market, By Product Type, 2017 – 2030, (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 – 2030
- Segment Trends
- Blood Pressure Monitors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Glucometers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Pulse Oximeters
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- ECG Monitors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Cold Chain System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Introduction
- Global Condition Monitoring Device Market, By Application, 2017 – 2030, (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 – 2030
- Segment Trends
- Patient Monitoring
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Cold Chain Logistics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Introduction
- Global Condition Monitoring Device Market, By End User, 2017 – 2030, (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 – 2030
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Homecare Settings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2030, (US$ Million)
- Introduction
- Global Condition Monitoring Device Market, By Region, 2017 – 2030, (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2030
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2030, (US$ Million)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2030, (US$ Million)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2030, (US$ Million)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2030, (US$ Million)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2030, (US$ Million)
- GCC
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2030, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2017 – 2030, (US$ Million)
- North Africa
- Central Africa
- South Africa
- Introduction
- Competitive Landscape
- Market Share Analysis
- General Electric Company
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Koninklijke Philips N.V.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Nihon Kohden Corporation
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Hoffmann-La Roche Ltd
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Braun Melsungen AG
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Abbott
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Masimo
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Smiths Medical
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- 1byone, Inc.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- B Medical Systems
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- IndoSurgicals Pvt. Ltd.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Biomedhelix (Pty) Ltd.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Thermofisher Scientific Inc.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- General Electric Company
- Analyst Views
- Market Share Analysis
- Section
- Research Methodology
- About us
*Browse 56 market data tables and 47 figures on "Global Condition Monitoring Device Market” - Global forecast to 2030
Detailed Segmentation:
- Global Condition Monitoring Device Market, By Product Type
- Blood Pressure Monitors
- Glucometers
- Pulse Oximeters
- ECG Monitors
- Cold Chain System
- Others
- Blood Pressure Monitors
- Global Condition Monitoring Device Market, By Application
- Patient Monitoring
- Cold Chain Logistics
- Global Condition Monitoring Device Market, By End User
- Hospitals
- Homecare Settings
- Others
- Global Condition Monitoring Device Market, By Region:
- North America
- By Product Type
- Blood Pressure Monitors
- Glucometers
- Pulse Oximeters
- ECG Monitors
- Cold Chain System
- Others
- Blood Pressure Monitors
- By Application
- Patient Monitoring
- Cold Chain Logistics
- By End User
- Hospitals
- Homecare Settings
- Others
- By Country
- U.S.
- Canada
- By Product Type
- Latin America
- By Product Type
- Blood Pressure Monitors
- Glucometers
- Pulse Oximeters
- ECG Monitors
- Cold Chain System
- Others
- Blood Pressure Monitors
- By Application
- Patient Monitoring
- Cold Chain Logistics
- By End User
- Hospitals
- Homecare Settings
- Others
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Product Type
- Europe
- By Product Type
- Blood Pressure Monitors
- Glucometers
- Pulse Oximeters
- ECG Monitors
- Cold Chain System
- Others
- By Application
- Patient Monitoring
- Cold Chain Logistics
- By End User
- Hospitals
- Homecare Settings
- Others
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Blood Pressure Monitors
- By Product Type
- Asia Pacific
- By Product Type
- Blood Pressure Monitors
- Glucometers
- Pulse Oximeters
- ECG Monitors
- Cold Chain System
- Others
- Blood Pressure Monitors
- By Application
- Patient Monitoring
- Cold Chain Logistics
- By End User
- Hospitals
- Homecare Settings
- Others
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Product Type
- Middle East
- By Product Type
- Blood Pressure Monitors
- Glucometers
- Pulse Oximeters
- ECG Monitors
- Cold Chain System
- Others
- Blood Pressure Monitors
- By Application
- Patient Monitoring
- Cold Chain Logistics
- By End User
- Hospitals
- Homecare Settings
- Others
- By Country
- GCC
- Israel
- Rest of Middle East
- By Product Type
- Africa
- By Product Type
- Blood Pressure Monitors
- Glucometers
- Pulse Oximeters
- ECG Monitors
- Cold Chain System
- Others
- Blood Pressure Monitors
- By Application
- Patient Monitoring
- Cold Chain Logistics
- By End User
- Hospitals
- Homecare Settings
- Others
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Product Type
- North America