The Latest Patient Monitoring Industry Statistics Explained
The global patient monitoring market size was valued at USD 37.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028.
The statistic provided indicates that the global patient monitoring market was valued at USD 37.4 billion in 2020. Additionally, the market is projected to experience significant growth with a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028. This implies that the market is expected to continue expanding at a steady pace over the next several years. The increasing adoption of advanced monitoring technologies, growing prevalence of chronic diseases, and rising focus on remote patient monitoring are likely drivers fueling this growth. This statistic highlights the potential opportunities within the patient monitoring industry and emphasizes the importance of continuous advancements in healthcare technology.
North America dominated the market for patient monitoring and accounted for the largest revenue share of 40.4% in 2020.
This statistic indicates that North America held a significant portion of the global market for patient monitoring devices in 2020, with a dominant revenue share of 40.4%. This suggests that North America was a key player in the industry and likely had a strong presence in terms of market size and influence. The high revenue share implies that North America’s healthcare sector was a major consumer of patient monitoring equipment, reflecting a high level of adoption and investment in advanced healthcare technologies. Additionally, it may signify that the region had a well-established infrastructure for healthcare services, contributing to its leading position in the market for patient monitoring devices compared to other regions.
By 2026, it is estimated that the Remote Patient Monitoring market value will reach $1.8 billion.
The statistic indicates that the Remote Patient Monitoring market is projected to reach a value of $1.8 billion by the year 2026. This suggests a growing demand for remote monitoring services that allow healthcare providers to track patients’ vital signs, health conditions, and overall well-being outside of traditional medical settings. The increasing adoption of digital health technology and the need for more personalized, convenient healthcare solutions are likely driving this market growth. This statistic highlights the expanding role of technology in healthcare and the potential benefits it can bring in terms of improving patient outcomes, reducing healthcare costs, and enhancing the quality of care delivery.
The patient monitoring systems market in the Asia Pacific region is projected to grow at a promising 10.8% CAGR, the highest among all regions, from 2021 to 2028.
The statistic indicates that the patient monitoring systems market in the Asia Pacific region is expected to experience a Compound Annual Growth Rate (CAGR) of 10.8% from the year 2021 to 2028. This growth rate is projected to be the highest among all regions, signifying a strong and promising market expansion in the healthcare industry for patient monitoring systems in the Asia Pacific region. The high CAGR suggests a growing demand for advanced monitoring technologies and healthcare services in this region, likely driven by factors such as increasing healthcare infrastructure development, rising healthcare spending, and a growing elderly population in countries across Asia Pacific.
As of 2019, a significant proportion of the patient monitoring market is driven by cardiac monitoring devices which held about 30.4% of the market share.
The statistic indicates that in 2019, a substantial portion of the patient monitoring market was influenced by cardiac monitoring devices, which accounted for approximately 30.4% of the total market share. This suggests that cardiac monitoring devices were a prominent and influential segment within the patient monitoring industry during that time. Factors such as the increasing prevalence of cardiovascular diseases, technological advancements in cardiac monitoring devices, and the growing emphasis on preventive healthcare may have contributed to the significant market share held by cardiac monitoring devices. This statistic highlights the importance of cardiac monitoring devices in patient care and reflects the continued emphasis on cardiovascular health monitoring within the healthcare industry.
The demand for real-time patient monitoring systems to manage chronic disorders, such as diabetes and hypertension, is on the rise which is expected to be the key factor driving the market.
This statistic suggests that there is a growing trend in the healthcare industry towards utilizing real-time patient monitoring systems to better manage chronic conditions like diabetes and hypertension. The demand for these systems is increasing significantly, signaling a shift towards more proactive and personalized healthcare approaches. This trend is expected to significantly influence and drive the market for patient monitoring systems, as healthcare providers and patients alike recognize the benefits of real-time monitoring in improving the management of chronic disorders and enhancing overall health outcomes.
By 2027, the global market for patient monitoring and ultrasound devices display is projected to reach nearly $4.1 billion.
The statistic suggests that by the year 2027, the worldwide market size for patient monitoring and ultrasound devices display is expected to grow substantially, reaching close to $4.1 billion in value. This projection indicates a significant expansion in the demand and utilization of such medical devices over the coming years, likely driven by factors such as technological advancements, increasing prevalence of chronic diseases, and growing healthcare infrastructure globally. The forecasted growth in the market signifies a promising opportunity for manufacturers and suppliers in the healthcare industry to cater to the rising needs for patient monitoring and ultrasound devices, shaping the landscape of healthcare delivery and patient care in the near future.
Europe registered a considerable share in the patient monitoring systems market in 2020, owing to the rising prevalence of chronic diseases and healthcare infrastructure.
The statistic indicates that Europe held a significant portion of the patient monitoring systems market in 2020 due to factors such as the increasing prevalence of chronic diseases in the region and the continuous development of healthcare infrastructure. As chronic diseases like diabetes, cardiovascular conditions, and respiratory disorders become more prevalent in Europe, there is a growing need for advanced and efficient patient monitoring systems to manage and monitor these conditions effectively. Additionally, the continuous investments in improving healthcare infrastructure across European countries have further contributed to the adoption and implementation of patient monitoring systems to enhance patient care quality and outcomes.
The blood glucose monitoring systems held the largest share of 47.7% in the patient monitoring market in 2020.
The statistic indicates that among all the different types of patient monitoring devices in the market in 2020, blood glucose monitoring systems accounted for the largest proportion of sales at 47.7%. This suggests that there is a strong demand for blood glucose monitoring devices compared to other types of patient monitoring systems such as blood pressure monitors, ECG devices, or pulse oximeters. The high market share of blood glucose monitoring systems could be attributed to the increasing prevalence of diabetes worldwide and the growing awareness among individuals about the importance of monitoring their blood glucose levels for managing their condition effectively. Additionally, advancements in technology and the development of user-friendly and accurate blood glucose monitoring devices may have also contributed to their dominance in the patient monitoring market.
Portable patient monitoring systems are expected to witness the fastest CAGR of 11.6% from 2021 to 2028.
The statistic “Portable patient monitoring systems are expected to witness the fastest Compound Annual Growth Rate (CAGR) of 11.6% from 2021 to 2028” indicates the projected rate at which the market for these systems is anticipated to grow over the specified timeframe. This implies that there is a strong demand and increasing adoption of portable patient monitoring systems in the healthcare sector. The high CAGR suggests significant market potential and opportunities for growth in this specific segment, driven by factors such as technological advancements, increasing focus on remote patient monitoring, and the need for more efficient and convenient healthcare solutions. This statistic highlights the potential for considerable expansion and market penetration for portable patient monitoring systems in the coming years.
The wired type in the patient monitoring device connectivity market held a revenue of USD 27.8 billion in 2020.
The statistic indicates that the wired type of connectivity in patient monitoring devices generated a total revenue of USD 27.8 billion in the year 2020. This suggests that the market for patient monitoring devices utilizing wired connectivity experienced significant growth and demand during that period. The revenue figure reflects the total amount of money generated from sales and services related to patient monitoring devices using wired connections within the market segment. This information is important for stakeholders, manufacturers, and investors in the healthcare industry as it highlights the financial performance and importance of wired connectivity in patient monitoring devices in 2020.
The respiratory monitoring device market, which is a subset of the patient monitoring industry, was worth $1.7 billion in 2019 and is expected to grow to $2.8 billion by 2024.
The statistic highlights the estimated market value of the respiratory monitoring device market in 2019 at $1.7 billion, which is a significant component within the broader patient monitoring industry. The forecast indicates that this market is projected to experience growth, with an expected increase in value to $2.8 billion by the year 2024. This suggests a positive trend in the demand for respiratory monitoring devices, likely driven by factors such as advancements in healthcare technology, an aging population, and increasing awareness about the importance of respiratory health monitoring. The forecasted growth also indicates potential opportunities for market expansion, innovation, and investment within the respiratory monitoring device sector in the coming years.
The Latin American patient monitoring devices market is expected to reach USD 2.1 billion by 2026 from USD 1.3 billion in 2021.
The statistic indicates that the Latin American patient monitoring devices market is projected to experience significant growth over the specified period. Specifically, the market is forecasted to increase from USD 1.3 billion in 2021 to USD 2.1 billion by 2026. This represents a compound annual growth rate (CAGR) that would lead to a considerable expansion in the market size. The expected growth could be attributed to various factors such as an increasing focus on healthcare infrastructure development, technological advancements in patient monitoring devices, rising awareness about healthcare among the population, and the growing prevalence of chronic diseases that require constant monitoring. Overall, this statistic suggests a positive outlook for the Latin American patient monitoring devices market in the coming years.
A rising number of hospitals and homecare settings are anticipated to drive the patient monitoring systems market in the Middle East and Africa.
The statistic indicates that there is a growing trend of hospitals and homecare settings adopting patient monitoring systems in the Middle East and Africa region. This rise in adoption is expected to drive the market for patient monitoring systems, including devices and equipment used to track and monitor patients’ vital signs, health status, and medical parameters. As more healthcare facilities incorporate these systems into their practices, it suggests an increasing focus on improving patient care, enhancing disease management, and ensuring better outcomes. This trend reflects the growing importance placed on remote monitoring, data-driven healthcare interventions, and the overall advancement of healthcare services in the region.
The mobile cardiac telemetry systems market is anticipated to register a CAGR of nearly 10.4% during the forecast period 2021 – 2026.
This statistic indicates that the mobile cardiac telemetry systems market is expected to experience a Compound Annual Growth Rate (CAGR) of around 10.4% over the forecast period from 2021 to 2026. This implies that the market for mobile cardiac telemetry systems, which are used for monitoring cardiac activities remotely, is projected to grow at a consistent annual rate of approximately 10.4% over the next five years. This growth rate suggests a positive outlook for the industry, indicating increasing demand and adoption of these systems, potentially driven by factors such as advancements in technology, growing prevalence of cardiovascular diseases, and rising awareness about remote monitoring solutions for cardiac health.
The demand for neonatal and prenatal patient monitors is expected to reach $10.86 billion by 2025.
The statistic indicates that the total revenue generated from the sales of neonatal and prenatal patient monitors is projected to reach $10.86 billion by the year 2025. This forecast suggests a growing demand for these medical devices used in monitoring the health and vital signs of newborns and expectant mothers. Factors driving this expected increase in demand could include advancements in technology leading to more sophisticated and accurate monitoring devices, a growing awareness of the importance of monitoring neonatal and prenatal health, as well as an increasing focus on improving healthcare outcomes for both newborns and pregnant women. This statistic serves as a valuable insight for healthcare providers, medical device manufacturers, and investors in the healthcare industry to anticipate and respond to the rising demand for neonatal and prenatal patient monitors.
References
0. – https://www.www.marketsandmarkets.com
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2. – https://www.healthcareweekly.com
3. – https://www.www.grandviewresearch.com
4. – https://www.www.mordorintelligence.com
5. – https://www.www.fortunebusinessinsights.com
