The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s patient monitoring devices market report forecasts the patient monitoring devices market size to grow to $34.5 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Patient Monitoring Devices Market Size Forecast
The global patient monitoring devices market is expected to grow from $23.46 billion in 2022 to $25.53 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The patient monitoring devices market is expected to grow to $34.5 billion in 2027 at a CAGR of 7.8%.

Asia-Pacific held the largest patient monitoring devices market share.

Key Patient Monitoring Devices Market Driver ­– Increase In Demand For Monitoring Devices Due To The Shortage Of Professionals In The Healthcare Services Industry
According to a report by Mercer, the US requires 2.3 million new healthcare workers by 2025; this includes nurses, physicians, lab technicians, and various other healthcare personnel. This shortage is likely to drive the demand for monitoring systems as these devices allow medical professionals to track multiple patients remotely. This is expected to drive the market for patient monitoring devices in the forecast period.

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Key Patient Monitoring Devices Market Trend – Offering Customized MPMs
Patient monitoring device manufacturers are offering customized MPMs to cater to the growing patient pool. MPMs monitor different health parameters corresponding to patients’ health conditions. For instance, Infinium Medical’s Omni series monitors are preconfigured with ECG, oxygen saturation, non-invasive blood pressure, and temperature trackers. More advanced health measures such as invasive blood pressure, cardiac output, and anaesthetic agent measurement can be added to this device when needed. Custom MPM is predominantly beneficial for tracking the health status of critically ill patients.

Patient Monitoring Devices Market Segment
1) By Type: Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices And Equipment, Vital Parameter Monitoring Devices And Equipment, Remote Patient Monitoring Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables

Subsegments Covered: Fetal Monitoring Devices, Neonatal Monitoring Devices, Temperature Monitoring Devices, Weight Monitoring Devices, Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Hemodynamic Monitoring Devices, Multiparameter Monitoring Devices, Cardiac Monitors, Respiratory Monitors, Hematological Monitors, Vital Parameter Monitors And Other End Users

Patient Monitoring Devices Market Major Players and Strategies
Major players in the patient monitoring devices market are General Electric Company, Koninklijke Philips N.V., Draegerwerk AG, Cardinal Health, Inc., Masimo, Stryker Corporation, Medtronic Inc., Edwards Lifesciences, Flex Ltd., and Nihon Kohden Corporation.

The Patient Monitoring Devices Global Market Report 2023 covers regional data on patient monitoring devices market size, patient monitoring devices market trends and drivers, opportunities, strategies, and patient monitoring devices market competitor analysis. The countries covered in the patient monitoring devices market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Patient monitoring devices are machines that are used to constantly monitor patients through various vital signs and warning systems to detect and record changes in patient health conditions.

View More Reports Related To The Patient Monitoring Devices Market –
Remote Patient Monitoring Devices And Equipment Global Market Report 2023
Veterinary Patient Monitoring Equipment Global Market Report 2023
Fetal And Neonatal Monitoring Devices Global Market Report 2023

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