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Patient Monitoring Devices Market – Growing Demand and Growth

The global patient monitoring devices market is expected to grow at a significant CAGR of 14.6% during the forecast period (2024-2031). The market growth is attributed to the increasing availability of advanced patient monitoring equipment such as wearable devices, wireless monitors, and remote monitoring systems to meet the growing demand for patient monitoring devices across the globe. The increasing adoption of patient monitoring devices in hospitals, ambulatory surgical centers, and home care facilities to track and analyze vital signs enables healthcare professionals to remotely monitor the health status of patients. For example, in April 2024, OSI Systems, Inc. announced that its healthcare division, Spacelabs Healthcare®, received an order worth approximately USD 6.0 million to supply patient monitoring solutions and related accessories to a hospital in the US. The company supplies Xhibit® central stations, Xprezzon® patient monitors, and Qube® patient monitors.

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Expanding the collaboration helps clinicians make quick and informed decisions without the need for additional monitoring equipment. These capabilities and metrics help providers act decisively while reducing the cost of care by providing a more holistic view of the patient from a single system. For example, in June 2023, Koninklijke Philips NV and Masimo introduced new, advanced monitoring capabilities to Philips high-acuity patient monitors. The company announced that it has received FDA approval to enable SedLine® brain function monitoring, regional oximetry (O3®) and CO? measurements on Philips IntelliVue MX750 and MX850 patient monitors.
Using multi-parameter monitors to track patient vital signs more frequently. Primarily used to monitor blood pressure (NIBP), respiration (RESP), oxygen saturation (SpO2), temperature (TEMP), cardiac activity (ECG), and hospitalization or emergency room (ER). For example, in February 2024, Midmark introduced two new multi-parameter monitors. The new multi-parameter monitors are designed with integrated safety features and user-friendly capabilities to help veterinary care teams navigate anesthesia procedures more efficiently. New features include improved multi-parameter blood pressure monitoring, ECG and CO2 catalogs, and customizable user displays.

Global Patient Monitoring Devices Market Report Segment

By product

• Blood glucose monitoring systems
• Heart monitoring devices
• Multi-parameter monitoring devices.
• Breathing monitoring devices
• Temperature monitoring devices
• Hemodynamic/Pressure Monitoring Devices
• Other (fetal and newborn monitoring devices, weight monitoring devices)

By end users

• Hospitals
• Outpatient Surgery Centers
• Home care facilities
• Other (clinics)

The full report on the patient monitoring devices market is available at https://www.omrglobal.com/industry-reports/patient-monitoring-devices-market

Patient Monitoring Devices Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia and Pacific

• China
• Japan
• India
• Rest of Asia Pacific

Rest of the world

• Middle East and Africa
• Latin America

Company profiles

• Baxter International Inc.
• Becton, Dickinson & Co.
• Boston Scientific Corp.
• Criticare Systems, Inc.
• Drägerwerk AG & Co. KGaA
• Edwards Lifesciences Corp.
• GE HealthCare Technologies Inc.
• Hill-Rom Holdings, Inc.
• LivaNova, Joint Stock Company
• Masimo Corp.

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