Global Digital Health Monitoring Devices market size 2024, Forecast To 2033
4 Mar, 2024
The digital health monitoring devices market has witnessed rapid growth, projected to rise from $5.65 billion in 2023 to$6.74 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. This growth is driven by clinical research, evidence-based practices, regulatory framework development, patient engagement, and IoT integration. Forecasts suggest exponential growth ahead, with the market expected to reach $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. This expansion will be propelled by the increasing prevalence of chronic diseases, patient-centric care and self-management, preventive healthcare focus, rise in health and fitness consciousness, and the adoption of remote diagnostics and decision support. Major trends include advancements in wearable technology, remote patient monitoring (RPM), telemedicine and telehealth adoption, and IoT integration.
Global Digital Health Monitoring Devices Market Key Driver
The digital health monitoring devices market is poised for significant growth, fueled by the increasing demand for remote monitoring solutions worldwide. Remote monitoring devices, integral to tracking and managing patients' health remotely, offer healthcare professionals real-time access to vital health data for assessment and recommendations. A survey by MSI International in June 2021 revealed that 80% of Americans support remote patient monitoring, indicating a strong inclination toward integrating such technologies into medical care. Hence, the surge in demand for remote monitoring devices is propelling the digital health monitoring devices market, anticipated to witness substantial growth in 2023, 2024, and 2028.
Get A Free Sample Of The Global Digital Health Monitoring Devices Market ReportGlobal Digital Health Monitoring Devices Market Segments
The global 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
By Geography: The regions covered in the digital health monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the digital health monitoring devices market share in 2023. The regions covered in the digital health monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Digital Health Monitoring Devices Industry Players
GE Healthcare company, AT&T Inc., ResMed Inc., Abbott Laboratories, Koninklijke Philips N.V. AB, Hill-Rom Services Inc., Medtronic PLC, Garmin Ltd., VitalConnect Inc., Siren Care Inc., athenahealth Inc., FitBit lnc., Soterix Medical Inc., Array Telepresence, Avaya Inc., Cisco Systems Inc., Digital Video Enterprises, HaiVision, Huawei Technologies Co. Ltd., Polycom Inc., Videonations Limited., Vidyo Inc., ZTE Corporation, Baxter International Inc., Benson Medical Instruments Co., Chest M.I. Inc., COSMED srl, Depisteo LLC, Henry Schein Inc., ICU Medical Inc.
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Digital Health Monitoring Devices Market Overview
Digital health monitoring devices are devices used to monitor and analyze acute or chronic conditions outside of the hospital or clinic setting. These devices digitally track and monitor the health of people and give easy access to relevant information, which helps in improving the quality of healthcare and delivering value to healthcare practitioners, patients, hospitals, and governments.
Digital Health Monitoring Devices Global Market Report 2023 provides data on the global digital health monitoring devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The digital health monitoring devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.