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Global Digital Patient Monitoring Devices Market by Type (Wearable Devices, Remote Patient Monitoring, Wireless Sensor Technology, Telehealth, mHealth) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: MD-73385
  • Author: Up Market Research
  • Rating: 4.5
  • Total Reviews: 51
  • No. Of Pages: 234
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  • Pub. Date: 2021-10-21
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Summary of the Report

Global market for digital patient monitoring devices was valued at USD 62.6 million in 2020. It is projected to grow at a compound annual rate (CAGR of 23.5%) between 2021 and 2028. The market is growing due to rising demand for continuous monitoring devices, as well as the increasing prevalence of chronic diseases like diabetes, hypertension, and other diseases.

Patients and healthcare professionals are increasingly using wearable sensors such as ECGs and continuous glucose monitors to track their health. These devices can monitor the patient's vital signs in real time and transmit them to their doctors electronically. They can also be integrated into the EHR. The providers can monitor the patient continuously, eliminating the need to visit the hospital frequently. In response to the growing demand for wearable devices, key players have been focusing their research on developing innovative products for the digital patient monitoring market. Somatix, Inc., for example, announced in March 2020 the launch of an AI-powered continuous remote monitoring system. It is expected that similar products will be introduced to increase the market for digital patient monitoring devices.

Digital patient monitoring systems are a cost-saving option that can reduce healthcare costs. Numerous countries around the world are struggling to deal with the economic impact of chronic diseases. The Centers for Disease Control and Prevention estimates that stroke and heart disease cost the U.S. healthcare system approximately USD 214 billion each year. Digital patient monitoring systems allow people at high risk to be monitored remotely. This prevents hospitalizations and reduces healthcare costs. This will likely lead to a rise in demand for digital patient monitoring devices over the next few years.

Market impact of COVID19 digital monitoring devices for patients: 32% growth between 2019 and 2020

Pandemic Impact

Outlook after COVID

According to the previous projection, the digital patient monitoring device market will reach nearly USD 60 billion by 2020. The market saw an increase of more than 32% between 2019 and 2020.

As the threat of infection increases, the market will continue to grow in 2021.

People infected by the virus have a greater need for vital signs monitors. These monitors can be used to detect infection and provide information such as temperature, pulse rate, respiration rate, and pulse rate.

As the pandemic exacerbated the desire of the general population to stay fit, the demand for mhealth devices and wearables is expected to increase.

The COVID-19 epidemic brought about a digital revolution within the healthcare industry. It increased the demand for wearable devices, and mHealth apps. Telehealth was also increased by multiple folds. Hospitals were forced to close their OPDs to control infection and increase patient numbers. A survey by VivaLNK (a connected healthcare provider) revealed that 55% of respondents used or planned to use Remote Patient Monitoring for COVID-19 patients.

Many countries have begun to embrace digital health tools, after realizing the potential. In April 2020, for example, the Federal Communications Commission launched a COVID-19 relief programme that provided USD 200 million to help hospitals get telehealth technology. This has provided new opportunities for market players and start up companies to create innovative solutions. VitalConnect, Inc. was granted an Emergency Use Authorization by the USFDA in May 2020 for VitalPatch, a cardiac monitoring device that VitalConnect, Inc. intends to use with COVID-19 patients.

Type Insights

In 2020, the wearable devices market dominated digital patient monitoring devices. It accounted for 30.4% of the highest revenue share. The prominent position of this segment can be attributed to increasing adoption of connected devices as well as rising end-user preferences for more sophisticated gadgets. The mHealth segment will experience significant growth over the forecast period. The segment is expected to grow due to increasing internet penetration and a growing number of smartphone users. Segment growth is also being driven by the growing number of startups in the digital patient monitoring device market. Undermyfork, a diabetes tracking app, received funding in August 2020 of USD 0.4million. The app will soon be available in the U.S.

Product Insights

The market leader in digital patient monitoring devices was the diagnostic monitoring device segment. In 2020, it accounted for the highest revenue share at 62.5%. This segment is growing due to the increasing incidence of diseases like diabetes, cancer, and obesity as well as the growing geriatric population. The International Diabetes Federation estimates that approximately 463 million people have diabetes in 2019, and this number will rise to 700 million by 2045. This will likely favor growth.

The segment's growth is expected to be boosted by the increasing demand for therapeutic monitoring devices, especially among COVID-19 patients. The segment will also benefit from the increasing number of strategic partnerships between key manufacturers. In June 2020, Abbott partnered Tandem Diabetes Care. This partnership saw Abbott combine its Continuous Glucose Monitoring technology (CGM), with Tandem Diabetes Care’s insulin delivery systems.

Regional Insights

North America was the dominant market for digital patient monitor devices in 2020, accounting for 41.3% of the total revenue. The dominant market share is due to strong government support to lower healthcare costs, technological advances, and the launch new products. Medtronic, which manufactures the LINQ II insertable heart monitor, received 510(k), U.S. FDA approval in July 2020. This, along with increasing cases of heart disease, is expected to propel the North American market for digital patient monitor devices.

The favorable government policies for , mHealth, and telehealth in Europe are likely to drive the European market for digital patient monitor devices. The NHS announced in January 2019 its long-term plans to make telehealth (and mHealth) a standard of care by 2022-2223. This will encourage market adoption in Europe. Asia Pacific is expected to experience remarkable growth due to the high number of smartphone users in India and China, and greater internet penetration. According to India Cellular and Electronics Association (ICEA), smartphone users in India will increase from 500 million in 2019 and reach 820 million in 2022. This will favor digital patient monitoring devices in Asia Pacific.

Market Share Insights & Key Companies

Because of its product portfolio and ability to update current products according to patient needs, Abbott was able to emerge as a market leader. Koninklijke Philips N.V. was also a dominant player in the market due to its strong product portfolio, update of current products as per patient needs, and wide geographical footprint. The market leader in digital patient monitoring devices is:

  • GE Healthcare

  • AT&T

  • ATHENAHEALTH INC.

  • Abbott

  • Koninklijke Philips N.V. AB

  • Hill-Rom Services Inc.

  • Medtronic

  • Omron Healthcare, Inc.

  • FitBit, Inc.

  • Garmin Ltd.

  • VitalConnect

  • ResMed

  • Siren

Up Market Research published a new report titled “Digital Patient Monitoring Devices Market research report which is segmented by Type (Wearable Devices, Remote Patient Monitoring, Wireless Sensor Technology, Telehealth, mHealth), By Players/Companies Koninklijke Philips NV AB, Omron Healthcare Inc, ATHENAHEALTH INC, ResMed, FitBit Inc, Garmin Ltd, Hill-Rom Services Inc, VitalConnect, GE Healthcare, Medtronic, Abbott, Siren, AT&T”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleDigital Patient Monitoring Devices Market Research Report
By TypeWearable Devices, Remote Patient Monitoring, Wireless Sensor Technology, Telehealth, mHealth
By CompaniesKoninklijke Philips NV AB, Omron Healthcare Inc, ATHENAHEALTH INC, ResMed, FitBit Inc, Garmin Ltd, Hill-Rom Services Inc, VitalConnect, GE Healthcare, Medtronic, Abbott, Siren, AT&T
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages234
Number of Tables & Figures164
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Digital Patient Monitoring Devices Industry Outlook

Global Digital Patient Monitoring Devices Market Report Segments:

The market is segmented by Type (Wearable Devices, Remote Patient Monitoring, Wireless Sensor Technology, Telehealth, mHealth).

Digital Patient Monitoring Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Digital Patient Monitoring Devices Market

Overview of the regional outlook of the Digital Patient Monitoring Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Digital Patient Monitoring Devices Market Overview

Highlights of The Digital Patient Monitoring Devices Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Digital Patient Monitoring Devices Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Type:

                1. Wearable Devices

                2. Remote Patient Monitoring

                3. Wireless Sensor Technology

                4. Telehealth

                5. mHealth

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Digital Patient Monitoring Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
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  • Identifying Appropriate Advertising Appeals

Digital Patient Monitoring Devices Market Trends

Reasons to Purchase the Digital Patient Monitoring Devices Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Digital Patient Monitoring Devices Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Digital Patient Monitoring Devices Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Digital Patient Monitoring Devices Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Digital Patient Monitoring Devices Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Digital Patient Monitoring Devices Market Size & Forecast, 2018-2028 
      4.5.1 Digital Patient Monitoring Devices Market Size and Y-o-Y Growth 
      4.5.2 Digital Patient Monitoring Devices Market Absolute $ Opportunity 


Chapter 5 Global Digital Patient Monitoring Devices Market Analysis and Forecast by Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Type
      5.1.2 Basis Point Share (BPS) Analysis by Type
      5.1.3 Absolute $ Opportunity Assessment by Type
   5.2 Digital Patient Monitoring Devices Market Size Forecast by Type
      5.2.1 Wearable Devices
      5.2.2 Remote Patient Monitoring
      5.2.3 Wireless Sensor Technology
      5.2.4 Telehealth
      5.2.5 mHealth
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Digital Patient Monitoring Devices Market Analysis and Forecast by Region
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Region
      6.1.2 Basis Point Share (BPS) Analysis by Region
      6.1.3 Absolute $ Opportunity Assessment by Region
   6.2 Digital Patient Monitoring Devices Market Size Forecast by Region
      6.2.1 North America
      6.2.2 Europe
      6.2.3 Asia Pacific
      6.2.4 Latin America
      6.2.5 Middle East & Africa (MEA)
   6.3 Market Attractiveness Analysis by Region

Chapter 7 Coronavirus Disease (COVID-19) Impact 
   7.1 Introduction 
   7.2 Current & Future Impact Analysis 
   7.3 Economic Impact Analysis 
   7.4 Government Policies 
   7.5 Investment Scenario

Chapter 8 North America Digital Patient Monitoring Devices Analysis and Forecast
   8.1 Introduction
   8.2 North America Digital Patient Monitoring Devices Market Size Forecast by Country
      8.2.1 U.S.
      8.2.2 Canada
   8.3 Basis Point Share (BPS) Analysis by Country
   8.4 Absolute $ Opportunity Assessment by Country
   8.5 Market Attractiveness Analysis by Country
   8.6 North America Digital Patient Monitoring Devices Market Size Forecast by Type
      8.6.1 Wearable Devices
      8.6.2 Remote Patient Monitoring
      8.6.3 Wireless Sensor Technology
      8.6.4 Telehealth
      8.6.5 mHealth
   8.7 Basis Point Share (BPS) Analysis by Type 
   8.8 Absolute $ Opportunity Assessment by Type 
   8.9 Market Attractiveness Analysis by Type

Chapter 9 Europe Digital Patient Monitoring Devices Analysis and Forecast
   9.1 Introduction
   9.2 Europe Digital Patient Monitoring Devices Market Size Forecast by Country
      9.2.1 Germany
      9.2.2 France
      9.2.3 Italy
      9.2.4 U.K.
      9.2.5 Spain
      9.2.6 Russia
      9.2.7 Rest of Europe
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 Europe Digital Patient Monitoring Devices Market Size Forecast by Type
      9.6.1 Wearable Devices
      9.6.2 Remote Patient Monitoring
      9.6.3 Wireless Sensor Technology
      9.6.4 Telehealth
      9.6.5 mHealth
   9.7 Basis Point Share (BPS) Analysis by Type 
   9.8 Absolute $ Opportunity Assessment by Type 
   9.9 Market Attractiveness Analysis by Type

Chapter 10 Asia Pacific Digital Patient Monitoring Devices Analysis and Forecast
   10.1 Introduction
   10.2 Asia Pacific Digital Patient Monitoring Devices Market Size Forecast by Country
      10.2.1 China
      10.2.2 Japan
      10.2.3 South Korea
      10.2.4 India
      10.2.5 Australia
      10.2.6 South East Asia (SEA)
      10.2.7 Rest of Asia Pacific (APAC)
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Asia Pacific Digital Patient Monitoring Devices Market Size Forecast by Type
      10.6.1 Wearable Devices
      10.6.2 Remote Patient Monitoring
      10.6.3 Wireless Sensor Technology
      10.6.4 Telehealth
      10.6.5 mHealth
   10.7 Basis Point Share (BPS) Analysis by Type 
   10.8 Absolute $ Opportunity Assessment by Type 
   10.9 Market Attractiveness Analysis by Type

Chapter 11 Latin America Digital Patient Monitoring Devices Analysis and Forecast
   11.1 Introduction
   11.2 Latin America Digital Patient Monitoring Devices Market Size Forecast by Country
      11.2.1 Brazil
      11.2.2 Mexico
      11.2.3 Rest of Latin America (LATAM)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Latin America Digital Patient Monitoring Devices Market Size Forecast by Type
      11.6.1 Wearable Devices
      11.6.2 Remote Patient Monitoring
      11.6.3 Wireless Sensor Technology
      11.6.4 Telehealth
      11.6.5 mHealth
   11.7 Basis Point Share (BPS) Analysis by Type 
   11.8 Absolute $ Opportunity Assessment by Type 
   11.9 Market Attractiveness Analysis by Type

Chapter 12 Middle East & Africa (MEA) Digital Patient Monitoring Devices Analysis and Forecast
   12.1 Introduction
   12.2 Middle East & Africa (MEA) Digital Patient Monitoring Devices Market Size Forecast by Country
      12.2.1 Saudi Arabia
      12.2.2 South Africa
      12.2.3 UAE
      12.2.4 Rest of Middle East & Africa (MEA)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Middle East & Africa (MEA) Digital Patient Monitoring Devices Market Size Forecast by Type
      12.6.1 Wearable Devices
      12.6.2 Remote Patient Monitoring
      12.6.3 Wireless Sensor Technology
      12.6.4 Telehealth
      12.6.5 mHealth
   12.7 Basis Point Share (BPS) Analysis by Type 
   12.8 Absolute $ Opportunity Assessment by Type 
   12.9 Market Attractiveness Analysis by Type

Chapter 13 Competition Landscape 
   13.1 Digital Patient Monitoring Devices Market: Competitive Dashboard
   13.2 Global Digital Patient Monitoring Devices Market: Market Share Analysis, 2019
   13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      13.3.1 Koninklijke Philips NV AB
      13.3.2 Omron Healthcare Inc
      13.3.3 ATHENAHEALTH INC
      13.3.4 ResMed
      13.3.5 FitBit Inc
      13.3.6 Garmin Ltd
      13.3.7 Hill-Rom Services Inc
      13.3.8 VitalConnect
      13.3.9 GE Healthcare
      13.3.10 Medtronic
      13.3.11 Abbott
      13.3.12 Siren
      13.3.13 AT&T
Segments Covered in the Report
The global Digital Patient Monitoring Devices market has been segmented based on

By Type
  • Wearable Devices
  • Remote Patient Monitoring
  • Wireless Sensor Technology
  • Telehealth
  • mHealth
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Koninklijke Philips NV AB
  • Omron Healthcare Inc
  • ATHENAHEALTH INC
  • ResMed
  • FitBit Inc
  • Garmin Ltd
  • Hill-Rom Services Inc
  • VitalConnect
  • GE Healthcare
  • Medtronic
  • Abbott
  • Siren
  • AT&T

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