Digital Patient Monitoring Devices Market | advent of internet of things drive the market growth
The growing number of cases for chronic diseases such as cardiovascular diseases, diabetes, and hypertension among others, worldwide is promoting the need for monitoring devices. This is further prognosticated to aid in expansion of the global digital patient monitoring devices market during the forecast period, 2020 to 2030. The growing popularity of wearable devices has urged central members to convey escalated examination and dispatch inventive items on the lookout for digital patient monitoring devices.
The global digital patient monitoring devices market is categorized on the basis of type, product, and regional segmentation. On the basis of product, the market is bifurcated into therapeutic monitoring and diagnostic monitoring devices. Among these, the diagnostic monitoring device segment is again divided into neuromonitors, fetal monitors, sleep monitors, vital sign monitors. The therapeutic monitoring devices segment is split into respiratory monitors, insulin monitors, and others. The type segment is again divided into wearable devices, telehealth, mHealth, wireless sensor technology, and remote patient monitoring. Among these, the remote patient monitoring market segment is grouped into smart home healthcare, ambulatory patient, and hospital inpatient.
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The report offers a 360-degree overview of the global digital patient monitoring devices market and emphasizes on the key growth parameters. This includes drivers, restraints, challenges, and upcoming opportunities that will shape the growth of this market in the forecast period. Additionally, the report also highlights on the recent trends and innovations that will aid in favor of the market. The report also discusses the impact of the COVID19 pandemic on this market and how can players benefit from this.
Digital Patient Monitoring Devices Market: Company Profiles
Players of the global market for digital patient monitoring devices market are indulging in merger and acquisition strategies to gain an upper hand in the overall market competition. Additionally, players are also investing heavily in product manufacturing and quality control so ensure their position in the competition for the forecast period. Some of the notable players of this market include:
- FitBit Inc.
- Koninklijke Philips N.V. AB
- AthenaHealth INC.
- GE Healthcare
- Garmin Ltd.
- Omron Healthcare Inc.
- Hill-Rom Service Inc.
- AT & T
Digital Patient Monitoring Devices Market: Notable Developments
- A new artificial intelligence remote patient monitoring device was introduced by Somatic Inc., in March 2020. Similar innovative product launches are organized by various players so as to aid in expansion of the market in the coming years.
Digital Patient Monitoring Devices Market: Recent Innovations
The advent of internet of things and the growing adoption of wearable devices worldwide is expected to aid in expansion of the global digital patient monitoring devices market. Additionally, the increasing adoption of RPM in clinics and hospitals will also aid in expansion of the global digital patient monitoring devices market. Rising interest for persistent monitoring devices and expanding predominance of constant illnesses like diabetes, hypertension, cardiovascular infections, and others are factors driving the development of the market.
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Digital Patient Monitoring Devices Market: Regional Insights
Demographically, the market is globally dominated by North America on account of the launch of new products and rising number of cardiac diseases. This is followed by Europe, on account of the rising support from government agencies. Furthermore, the market in Asia Pacific is projected to witness notable growth in the coming years on account of the increasing number of smartphone users in nations such as India, and China.
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