The Digital Health Monitoring Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital Health Monitoring Devices Global Market Report 2024, The digital health monitoring devices market size has grown rapidly in recent years. It will grow from $5.65 billion in 2023 to $6.74 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to clinical research and evidence-based practices, regulatory framework development, patient engagement and empowerment, internet of things (iot) integration..
The digital health monitoring devices market size is expected to see exponential growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to increasing prevalence of chronic diseases, patient-centric care and self-management, focus on preventive healthcare, rise in health and fitness consciousness, remote diagnostics and decision support.. Major trends in the forecast period include advancements in wearable technology, remote patient monitoring (rpm), telemedicine and telehealth adoption, internet of things (iot) integration..
The rising demand for remote monitoring across the globe is expected to propel the growth of the digital health monitoring devices market going forward. The remote monitoring device is a medical device used to track and monitor patients’ health at home. The digital health monitoring devices allow healthcare professionals to electronically capture and monitor medical and other health data of patients for assessment, recommendations, and instructions. For example, according to a survey conducted by MSI International, a US-based recruiting firm, in June 2021, 80% of Americans are in favor of using remote patient monitoring, and around half are very supportive of incorporating it into medical care. Therefore, the rise in demand for remote monitoring devices drives the growth of the digital health monitoring devices market.
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The digital health monitoring devices market covered in this report is segmented –
1) By Type: Tele-health, EHR/EMR, M-health, Wireless health, Remote Patient Monitoring
2) By Product type: Device, Software, Services, Other Products
3) By End User: Hospitals, Clinics, Ambulatory surgical centres, Homecare settings, Other End-users
Top Major Players:
GE Healthcare company
AT&T Inc
ResMed Inc.
Abbott Laboratories
Koninklijke Philips N.V. AB
North America was the largest region in the digital health monitoring devices market share in 2023.
Technological innovation is a key trend gaining popularity in the digital health monitoring devices market. Companies in the digital health monitoring devices market are focusing on using machine learning, clinical innovation, and artificial intelligence (AI) to monitor patients’ health as well as to gain a competitive edge in the market. For example, in August 2021, Tabula Rasa HealthCare (TRHC), a US-based healthcare company engaged in developing healthcare software products, launched a remote patient monitoring service that uses artificial intelligence and biosensors to monitor patients’ vital signs and also alerts providers if necessary. Similarly, in June 2021, Max Healthcare, an India-based healthcare provider, launched an integrated patient monitoring framework, Max MyHealth, based on artificial intelligence (AI). Patients can use the Max MyHealth platform to monitor their vital signs with clinical devices integrated into the app. This allows clinical measurements to flow seamlessly from device to app to the electronic medical record (EMR) for review by physicians.
The digital health monitoring devices market report table of contents includes:
1. Executive Summary
2. Digital Health Monitoring Devices Market Characteristics
3. Digital Health Monitoring Devices Market Trends And Strategies
4. Digital Health Monitoring Devices Market – Macro Economic Scenario
5. Global Digital Health Monitoring Devices Market Size and Growth
……
31. Global Digital Health Monitoring Devices Market Competitive Benchmarking
32. Global Digital Health Monitoring Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Digital Health Monitoring Devices Market
34.Digital Health Monitoring Devices Market Future Outlook and Potential Analysis
35.Appendix
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