Global Physiological Monitors Market Top Major Players 2024, Forecast To 2033
28 Mar, 2024
The physiological monitors market has witnessed rapid growth, advancing from $92.32 billion in 2023 to $103.11 billion in 2024, with a compound annual growth rate (CAGR) of 11.7%. This growth in the historical period is attributed to factors such as the aging population driving demand for monitoring devices, the focus on chronic disease management requiring continuous health monitoring, the shift towards patient-centric healthcare models, and the integration of physiological monitors with electronic health records (EHR) and IoT technologies for comprehensive patient care. Looking forward, the market is anticipated to continue its rapid growth, reaching $158.62 billion by 2028, with a CAGR of 11.4%. This expansion in the forecast period is fueled by factors such as the integration of AI and data analytics into monitoring devices for enhanced insights and diagnostics, the increasing emphasis on preventive healthcare driving demand for continuous monitoring solutions, the expansion of telehealth services enabling remote patient monitoring, the growing trend of home healthcare, and the global health challenges necessitating robust monitoring systems. Major trends anticipated in the forecast period include the adoption of wearable technology for continuous monitoring, technological miniaturization enabling portable monitoring solutions, the focus on non-invasive monitoring technologies for patient comfort, and advancements in healthcare technology supporting comprehensive patient care.
Global Physiological Monitors Market Key Driver
The physiological monitors market is projected to grow in response to the rising prevalence of chronic diseases. Chronic diseases, characterized by long-lasting symptoms, necessitate continuous monitoring and management. Physiological monitors play a crucial role by providing real-time health data, facilitating timely interventions and personalized care for individuals with chronic conditions. According to the National Institutes of Health, the prevalence of chronic diseases among the US population aged 50 years and older is expected to nearly double by 2050, reaching 142.66 million individuals. This reflects a substantial increase from the 71.522 million reported in 2020. Consequently, the escalating prevalence of chronic diseases acts as a catalyst for the expansion of the physiological monitors market.
Get A Free Sample Of The Global Physiological Monitors Market ReportGlobal Physiological Monitors Market Segments
The physiological monitors market covered in this report is segmented –
1) By Type: Hemodynamic Monitoring Devices, Neuromonitoring Devices, Cardiac Monitoring Devices, Respiratory Monitoring Devices, Other Types
2) By Application: Cardiology, Neurology, Respiratory, Fetal And Neonatal, Weight Management And Fitness Monitoring, Other Applications
3) By End User: Hospital, Clinic, Other End Users
By Geography:The regions covered in the physiological monitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the physiological monitors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the physiological monitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Physiological Monitors Industry Players
F. Hoffmann-La Roche Ltd., Panasonic Corporation, Abbott Laboratories, Honeywell International Inc., Medtronic plc, Siemens Healthineers, Fresenius Medical Care AG & Co. KGaA, Becton Dickinson and Company (BD), Philips Healthcare, General Electric Company (GE Healthcare), Baxter International Inc., Boston Scientific Corporation, OMRON Healthcare Co. Ltd., Edwards Lifesciences Corporation, Mindray Medical International Ltd., Smiths Medical, Hill-Rom Holdings Inc., Masimo Corporation, Nihon Kohden Corporation, OSI Systems Inc., Spacelabs Healthcare, Kontron AG, Welch Allyn, Natus Medical Incorporated, A&D Company Limited, Owlet Baby Care, Nonin Medical Inc., CAS Medical Systems Inc.
Get The Full Global Physiological Monitors Market ReportPhysiological Monitors Market Overview
Physiological monitors are devices that track and measure vital signs or bodily functions to assess and monitor an individual's health status. These monitors are used to inform clinicians of changes in a patient's condition by continuously monitoring vital sign parameters and providing alerts through the use of alarms, enabling early detection of vital sign deterioration.
Physiological Monitors Global Market Report 2023 provides data on the global physiological monitors market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The physiological monitors market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.