Patient Monitoring Devices Market is projected to reach USD 55.1 billion by 2025 from USD 36.4 billion in 2020, at a CAGR of 8.6% during the forecast period. The patient monitoring devices are used for continuous monitoring of patient's vitals such as heart rate, pulse rate, blood pressure, blood oxygen saturation, and many other physiological parameters

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The growth of this market is mainly driven by the growing number of hospitals across major markets, increasing awareness about vital parameter monitoring for treatment and diagnosis of chronic diseases coupled with the increasing adoption of wearable and wireless patient monitoring devices for homecare.

The ECG devices sub segment of cardiac monitoring devices products to hold major market share by 2025

Based on the product, the patient monitoring device market is segmented into blood glucose monitoring systems, cardiac monitoring devices, multiparameter monitoring devices, respiratory monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, fetal and neonatal monitoring devices, neuromonitoring devices, weight monitoring devices and other patient monitoring devices.

Based on product, the blood glucose monitoring systems segment is expected to account for the largest share of the patient monitoring devices market

Based on type, the blood glucose monitoring systems market has been segmented into the self-monitoring blood glucose systems and continuous glucose monitoring system. Among these, the self-monitoring blood glucose systems sub-segment dominated the market. The major share of the segment is attributed to the rising adoption of integrated blood glucose monitoring systems in developing as well as developed countries.

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The hospital segment is expected to register the highest growth rate during the forecast period

Based on end user, the patient monitoring devices market has been segmented into the hospitals, ambulatory surgery centers, home care settings and other end users. Significant market growth and large share of hospital segment can primarily be attributed to the presence of advanced ICUs and emergency wards in hospitals and the increasing number of surgical procedures.

North America is expected to dominate the global patient monitoring market

North America, comprising the US and Canada, accounted for the largest share of the patient monitoring devices market. Increasing number of clinical trials validating patient monitoring devices and a growing number of approvals for patient monitoring. Are the major factors driving market growth in North America.

Abbott Laboratories (US), HILL-ROM HOLDINGS, INC. (US), Drägerwerk AG & Co. KGaA (Germany), Edwards Lifesciences Corporation (US), OMRON Corporation (Japan), Masimo Corporation (US), Compumedics Limited (Australia), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Nihon Kohden Corporation (Japan), Natus Medical (US), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Getinge AB (Sweden), Boston Scientific Corporation (US), Dexcom, Inc. (US), Nonin (US), BIOTRONIK (Germany), SCHILLER (Switzerland), and BioTelemetry, Inc. (US), among othersare some of the major players operating in the global patient monitoring devices market.

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