2024-2033 Patient Monitoring Devices Market: Key Insights on Growth Opportunities
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What is the Expected Growth Rate of the Patient Monitoring Devices Market from 2024 to 2033?
The patient monitoring devices market will grow from $26.24 billion in 2023 to $28.77 billion in 2024, at a CAGR of 9.6%. Factors driving this growth include the aging population, regulatory compliance, chronic disease management, healthcare reimbursement, and the hospital-at-home trend.
The patient monitoring devices market is projected to grow to $40.65 billion by 2028 at a CAGR of 9.0%. Growth factors include telemedicine, AI integration, connected healthcare, and emerging markets. Trends include wearable monitors, remote vital signs tracking, mobile health apps, and predictive analytics.
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What Key Factors Are Fueling the Growth of the Patient Monitoring Devices Market?
The rise in chronic diseases is expected to accelerate the growth of the patient monitoring device market. Chronic conditions, which are long-lasting and typically not curable but manageable, require continuous monitoring. For instance, a report from the National Library of Medicine in January 2023 projected a 99.5% increase in the number of U.S. adults aged 50 and older with one or more chronic illnesses, from 71.52 million in 2020 to 142.66 million by 2050. As chronic diseases become more prevalent, the demand for patient monitoring devices is expected to increase.
What Are the Major Segments of the Patient Monitoring Devices Market?
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
What New Trends Are Transforming the Patient Monitoring Devices Market?
Companies in the patient monitoring devices market are focusing on developing remote patient monitoring (RPM) hardware powered by LoRaWAN technology. In January 2023, Senet and Telli Health launched the first RPM hardware using LoRaWAN, which offers extended coverage and enhances healthcare access in remote areas.
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Which Regions Are Driving Growth in the Patient Monitoring Devices Market?
Asia-Pacific was the largest region in the global patient monitoring devices market in 2023. North America was the second-largest region in the global patient monitoring devices market. The regions covered in the patient monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Patient Monitoring Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the patient monitoring devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Patient Monitoring Devices Market Include
1. Patient Monitoring Devices Market Executive Summary
2. Patient Monitoring Devices Market Segments
3. Patient Monitoring Devices Market Size And Template Market Growth Rate
4. Key Patient Monitoring Devices Market Trends
5. Major Patient Monitoring Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Patient Monitoring Devices Market
26. Top Patient Monitoring Devices Companies
27. Patient Monitoring Devices Market Opportunities And Strategies
28. Patient Monitoring Devices Market, Conclusions And Recommendations
29. Appendix
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