Market Research Report
Digital Patient Monitoring Devices Market Size, Share & Trends Analysis Report By Type (Wireless Sensor, mHealth, Telehealth, Wearable Devices, Remote Patient Monitoring), By Product, By Region, And Segment Forecasts, 2019 - 2026
|Published by||Grand View Research, Inc.||Product code||906558|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|Digital Patient Monitoring Devices Market Size, Share & Trends Analysis Report By Type (Wireless Sensor, mHealth, Telehealth, Wearable Devices, Remote Patient Monitoring), By Product, By Region, And Segment Forecasts, 2019 - 2026|
|Published: July 1, 2019||Content info: 80 Pages||
The global digital patient monitoring devices market size is expected to reach USD 272.6 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 27.9% during the forecast period. Rising prevalence of chronic conditions such as diabetes and hypertension is anticipated to drive the demand for real time patient monitoring for the management of these disorders. Digital monitoring platforms help in continuous patient monitoring, along with providing remote access to patient data and further reducing the clinical decision time.
Availability of mobile and telehealth applications for users is growing at a rapid rate, especially healthcare apps that assist consumers in self-management of disease, wellness, and chronic conditions. The increased patient role and importance in staying updated and informed about their own healthcare decisions, is contributing to the rise in adoption of digitized patient monitoring devices.
The mHealth segment is expected to expand significantly due to the high acceptance of products such as smart watches, smart bands, and clips. In May 2019, the Scripps Research Translational Institute expanded its mHealth study aimed at enhancing care management for pregnant women by launching POWERMOM, a digital health platform that combines an mHealth app and patient generated data from wearables to offer a better understanding in all stages of pregnancy.
Key players of digital patient monitoring device market are undertaking various strategic initiatives to sustain the competition. These initiatives include collaborations, mergers, acquisitions, and new product launches. For instance, in November 2015, Vital Connect signed an agreement with Omron Healthcare Co. to distribute HealthPatch MD in Japan. This agreement helped the company increase its geographical presence as well as market penetration.
Key market players include: Omron Corporation; AT&T, Inc.; Philips Healthcare; Airstrip Technologies; Athenahealth, Inc.; St. Jude Medical; Welch Allyn; Medtronic Plc; GE Healthcare; Fitbit, Inc.; Garmin; Vital Connect; ResMed; and Zephyr Technology Corporation.