Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Patient monitoring devices are used to collect and display physiological data. Common types of cardiac monitoring systems include, Holter monitor, event recorder, mobile cardiac telemetry, and insertable cardiac monitor.

The global patient monitoring devices market is estimated to account for US$ 22,869.5 Mn in terms of value in 2020 and is expected to reach US$ 35,209.0 Mn by the end of 2027.

Global Patient Monitoring Devices Market: Drivers

Increasing prevalence of lifestyle diseases is expected to propel growth of the global patient monitoring devices market over the forecast period. For instance, according to the study, ‘Global Prevalence of Type 2 Diabetes over the Next Ten Years (2018-2028)’, published by the American Diabetes Association, 500 million people worldwide suffered from type 2 diabetes in 2018.

Moreover, increasing geriatric population is also expected to aid in growth the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.  

Respiratory and Anesthesia Monitors held dominant position in the global patient monitoring devices market in 2019, accounting for 30.8% share in terms of value.

Figure 1. Global Patient Monitoring Devices Market Share (%), by Value, by Device Type, 2019

Patient Monitoring Devices  | Coherent Market Insights

Global Patient Monitoring Devices Market: Restraints

Negative impact of U.S. medical device tax and rigorous FDA regulatory processes are expected to hinder growth of the market. The U.S. government scheduled to implement a 2.3% excise tax on medical devices sales in 2013.

Moreover, security concerns associated with mobile devices are also expected to limit the market growth. 

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Patient Monitoring Devices Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 21,505.5 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.4% 2027 Value Projection: US$ 35,209.0 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Device Type: Respiratory and Anesthesia Monitors, Neuro monitoring devices, Hemodynamic Monitor, Fetal and neonatal monitors, Cardiac Monitors, Multi- Parameter Monitors, Others (temperature and weight monitors, etc).
  • By End User: Home Healthcare, Hospitals, Others (Outpatient Facilities, research and diagnostic centers)
Companies covered:

3M Healthcare, Boston Scientific Corporation, Covidien, Draegerwerk AG and Co. KGaA, GE Healthcare, Medtronic Plc, Mindray Medical, Omron, Nihon Kohden Corporation, Biotricity Inc., Bittium Corporation, DexCom, Inc., Caretaker Medical, Shimmer, Edwards Lifesciences Corporation, Saranas, Inc., DiaMonTech GmbH, VivaQuant, and Philips Healthcare.

Growth Drivers:
  • High prevalence of diseases
  • Product launches
Restraints & Challenges:
  • Negative impact of U.S. medical device tax and rigorous FDA regulatory processes

Global Patient Monitoring Devices Market: Opportunities 

Investment in Holter monitoring is expected to offer lucrative growth opportunities for players in the global patient monitoring devices market. For instance, in December 2019, Biotricity Inc., a medical diagnostic and consumer healthcare technology company, raised US$ 6 million for FDA Filing for its patch solution within the first 6 months of 2020, which will be a novel product in the field of Holter monitoring.

Moreover, launch of wireless electroencephalogram headsets is also expected to aid in growth of the market. For instance, in September 2019, Nihon Kohden launched its VitalEEG wireless electroencephalogram headset in the U.S., which is designed for quick setup and efficient placement of electrodes to evaluate brain health.

The global patient monitoring devices market was valued at US$ 21,505.5 Mn in 2019 and is forecast to reach a value of US$ 35,209.0 Mn by 2027 at a CAGR of 6.4% between 2020 and 2027.

Figure 2. Global Patient Monitoring Devices Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Patient Monitoring Devices  | Coherent Market Insights

Market Trends/Key Takeaways

Major players in the market are focused on launching programs to aid current customers who have lost insurance due to the COVID-19 pandemic. For instance, in April 2020, DexCom, Inc. launched a new patient assistance program that offers two 90-day supply shipments of Dexcom continuous glucose monitoring (CGM) system supplies and reduces customer cost to US$ 45 per 90-day supply shipment, in order to aid current U.S. customers who have lost insurance due to the COVID-19 pandemic.

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in July 2019, Caretaker Medical partnered with Mespere LifeSciences to integrate wireless CNIBP, Cerebral Oximetry, and other non-invasive hemodynamic measurements in a single monitoring platform. 

Global Patient Monitoring Devices Market: Competitive Landscape

Major players operating in the global patient monitoring devices market include, 3M Healthcare, Boston Scientific Corporation, Covidien, Draegerwerk AG and Co. KGaA, GE Healthcare, Medtronic Plc, Mindray Medical, Omron, Nihon Kohden Corporation, Biotricity Inc., Bittium Corporation, DexCom, Inc., Caretaker Medical, Shimmer, Edwards Lifesciences Corporation, Saranas, Inc., DiaMonTech GmbH, VivaQuant, and Philips Healthcare.

Global Patient Monitoring Devices Market: Key Developments

Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in November 2019, Shimmer, a U.S.-based developer of wearable technology, announced that ECGmd – its five-wire, four-lead Holter monitor ECG, received CE mark

Similarly, in August 2019, DiaMonTech GmbH, a medical technology startup, received the CE certification for its first medical product DMT Base, a device that offers non-invasive blood glucose measurement using laser-based technology.

Patient monitoring devices supports patient monitoring of vital signs (heart rate, blood pressure and others) without visiting medical practitioner. This devices are used to monitor patients, gathers medical data, and securely pass the data to the healthcare providers at other location for clinical review. The patient monitoring devices helps to control patient healthcare expenditure by reducing hospital stays, encourages patients to shift to self-care and avoid hospital readmissions, with reliable diagnosis. These patient monitoring devices allow real-time sharing that allows physicians to take vital decisions to ensure efficient treatment for various physiological parameters. These devices also increase patient engagement and allow patients to manage and understand their own health conditions.

Restraints of the Global Patient Monitoring Devices Market

Major factors hampering the growth of the patient monitoring devices market during the forecast period constitutes of negative impact of U.S. medical device tax and rigorous FDA regulatory processes.

Key features of the study:

  • This report provides in-depth analysis of the global patient monitoring devices market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global patient monitoring devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include 3M Healthcare, Boston Scientific Corporation, Covidien, Draegerwerk AG and Co. KGaA, GE Healthcare, Medtronic Plc, Mindray Medical, Omron, Nihon Kohden Corporation, Biotricity Inc., Bittium Corporation, DexCom, Inc., Caretaker Medical, Shimmer, Edwards Lifesciences Corporation, Saranas, Inc., DiaMonTech GmbH, VivaQuant, and Philips Healthcare.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global patient monitoring devices 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 market.

Detailed Segmentation

  • Global Patient Monitoring Devices Market, By Device Type:
    • Respiratory and Anesthesia Monitors
    • Neuro monitoring devices
    • Hemodynamic Monitor
    • Fetal and neonatal monitors
    • Cardiac Monitors
    • Multi- Parameter Monitors
    • Others (temperature and weight monitors, etc)
  • Global Patient Monitoring Devices Market, By End User:
    • Home Healthcare
    • Hospitals
    • Others (Outpatient Facilities, research and diagnostic centers)
  • Global Patient Monitoring Devices Market, By Geography:
    • North America
      • By Device Type
        • Respiratory and Anesthesia Monitors
        • Neuro monitoring devices
        • Hemodynamic Monitor
        • Fetal and neonatal monitors
        • Cardiac Monitors
        • Multi- Parameter Monitors
        • Others (temperature and weight monitors, etc)
      • By End User
        • Home Healthcare
        • Hospitals
        • Others (Outpatient Facilities, research and diagnostic centers)
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Device Type
        • Respiratory and Anesthesia Monitors
        • Neuro monitoring devices
        • Hemodynamic Monitor
        • Fetal and neonatal monitors
        • Cardiac Monitors
        • Multi- Parameter Monitors
        • Others (temperature and weight monitors, etc)
      • By End User
        • Home Healthcare
        • Hospitals
        • Others (Outpatient Facilities, research and diagnostic centers)
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Device Type
        • Respiratory and Anesthesia Monitors
        • Neuro monitoring devices
        • Hemodynamic Monitor
        • Fetal and neonatal monitors
        • Cardiac Monitors
        • Multi- Parameter Monitors
        • Others (temperature and weight monitors, etc)
      • By End User
        • Home Healthcare
        • Hospitals
        • Others (Outpatient Facilities, research and diagnostic centers)
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Device Type
        • Respiratory and Anesthesia Monitors
        • Neuro monitoring devices
        • Hemodynamic Monitor
        • Fetal and neonatal monitors
        • Cardiac Monitors
        • Multi- Parameter Monitors
        • Others (temperature and weight monitors, etc)
      • By End User
        • Home Healthcare
        • Hospitals
        • Others (Outpatient Facilities, research and diagnostic centers)
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East:
      • By Device Type
        • Respiratory and Anesthesia Monitors
        • Neuro monitoring devices
        • Hemodynamic Monitor
        • Fetal and neonatal monitors
        • Cardiac Monitors
        • Multi- Parameter Monitors
        • Others (temperature and weight monitors, etc)
      • By End User
        • Home Healthcare
        • Hospitals
        • Others (Outpatient Facilities, research and diagnostic centers)
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Device Type
        • Respiratory and Anesthesia Monitors
        • Neuro monitoring devices
        • Hemodynamic Monitor
        • Fetal and neonatal monitors
        • Cardiac Monitors
        • Multi- Parameter Monitors
        • Others (temperature and weight monitors, etc)
      • By End User
        • Home Healthcare
        • Hospitals
        • Others (Outpatient Facilities, research and diagnostic centers)
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • 3M Healthcare*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Boston Scientific Corporation
    • Covidien
    • Drägerwerk AG and Co. KGaA
    • GE Healthcare
    • Medtronic Plc
    • Mindray Medical
    • Omron
    • Nihon Kohden Corporation
    • Biotricity Inc.
    • Other Major Players

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Device Type
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Regulatory Scenario
    • PEST Analysis
    • COVID-19 Impact Analysis
  4. Global Patient Monitoring Devices Market, By Device Type, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Respiratory and Anesthesia Monitors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Neuro monitoring devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Hemodynamic Monitor
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Fetal and neonatal monitors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Cardiac Monitors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Multi- Parameter Monitors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Others (temperature and weight monitors, etc)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
  5. Global Patient Monitoring Devices Market, By End User, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Home Healthcare
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others (Outpatient Facilities, research and diagnostic centers)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Patient Monitoring Devices Market, By Regions, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • Company Profiles
      • 3M Healthcare
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Boston Scientific Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Covidien
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Drägerwerk AG and Co. KGaA
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Medtronic Plc
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Mindray Medical
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Omron
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Nihon Kohden Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Biotricity Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Other Major Players
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 33 market data tables and 25 figures on “Patient Monitoring Devices Market – Global forecast to 2027.

Frequently Asked Questions

The global patient monitoring devices market was valued at US$ 21,505.5 Mn in 2019 and is forecast to reach a value of US$ 35,209.0 Mn by 2027 at a CAGR of 6.4% between 2020 and 2027.
Major factor driving the growth of global patient monitoring devices market during the forecast period include increasing prevalence of diseases, and technologically advanced product launches.
Major factors hampering the growth of the patient monitoring devices market during the forecast period constitutes of negative impact of U.S. medical device tax and rigorous FDA regulatory processes.
Respiratory and anesthesia monitors held dominant position in the global patient monitoring devices market in 2019.
North America Patient Monitoring Devices market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are 3M Healthcare, Boston Scientific Corporation, Covidien, Draegerwerk AG and Co. KGaA, GE Healthcare, Medtronic Plc, Mindray Medical, Omron, Nihon Kohden Corporation, Biotricity Inc., Bittium Corporation, DexCom, Inc., Caretaker Medical, Shimmer, Edwards Lifesciences Corporation, Saranas, Inc., DiaMonTech GmbH, VivaQuant, and Philips Healthcare.
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