The Global 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), is estimated to be valued at US$ 1,089.4 Mn in 2022 and expected to exhibit a CAGR of 7.5% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Companies such as CareVention HealthCare are focusing on expanding their remote patient monitoring services, which is propelling the market growth. For instance, in August 2021, CareVention HealthCare, a division of Tabula Rasa HealthCare, launched remote patient monitoring services using artificial intelligence and biosensors for measuring patients’ vital signs. This will include the use of biosensors and other monitoring devices such as blood pressure machines, oximeters, and thermometers.
Global Condition Monitoring Device Market – Impact of Coronavirus (COVID-19) Pandemic
Amidst the COVID-19 pandemic, measures such as quarantining and social distancing are practically implemented worldwide since the outbreak. The frequency of hospital visits has also been restricted. This has led to a wide scale adoption of Internet of Things (IoT) technology and other digital healthcare monitoring systems. Hence, the condition monitoring device market witnessed a positive impact of the COVID-19 pandemic. Individuals started monitoring physiological parameters such as electrocardiogram (ECG) and blood pressure through wearable sensors.
Browse 56 Market Data Tables and 47 Figures spread through 306 Pages and in-depth TOC on “Global Condition Monitoring Device Market” - Forecast to 2030, Global Condition Monitoring Device Market, by Product Type (Blood Pressure Monitors, Glucometers, Pulse Oximeters, ECG Monitors, Cold Chain System, and Others), Application (Patient Monitoring and Cold Chain Logistics), End User (Hospitals, Homecare Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Condition Monitoring Device Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/condition-monitoring-device-market-4938
The increasing number of product launches by market players is expected to drive the growth of the condition monitoring device market over the forecast period. For instance, in October 2021, Honeywell Technology Solutions, a multinational conglomerate corporation launched a Real-Time Health Monitoring System (RTHMS). The device consists of a wristband that monitors oxygen saturation levels and other vital parameters such as heart rate, skin temperature, ECG, respiratory rate, and others.
Key Takeaways of the Global Condition Monitoring Device Market:
- Based on application, patient monitoring segment is expected to have the highest market share in 2022, owing to launch of new products. For instance, in February 2022, AliveCor, launched KardiaMobile Card, a FDA-cleared single-lead ECG. It is a durable and most portable ECG for remote cardiac monitoring for patients.
- Among regions, Asia Pacific is expected to have the highest growth rate in the global condition monitoring device market over the forecast period, owing to the increasing prevalence of non-communicable diseases (NCDs) in the region. For instance, according to the World Health Organization (WHO), it is estimated that 10.4 million deaths were caused due to non-communicable diseases such as diabetes, cardiovascular diseases, and chronic respiratory diseases; between 2010 and 2020 in South-East Asia.
- 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.
