Patient monitoring devices market to hit USD 44.86B by 2027

Allied Market Research has published a study report with the title Patient Monitoring Devices Market Size is Anticipated to Hit USD 44.86 billion by 2027, registering a CARG of 4.4% during the Forecast Period.

Patient monitoring devices market segments
Based on imaging technique, the cardiac monitoring devices segment contributed to more than one-fourth of the global patient monitoring devices market revenue in 2019 and is expected to rule the roost by the end of 2027. Rise in prevalence of cardiovascular diseases fuel the segment growth. The remote patient monitoring devices segment, on the other hand, would register the fastest CAGR of 6.3% throughout the forecast period, owing to the surge in demand for remote patient monitoring devices during the COVID-19 pandemic.

Based on end-user, the hospitals segment accounted for around half of the global patient monitoring devices market share in 2019 and is anticipated to rule the roost till 2027, owing to significant usage of patient monitoring devices in the hospitals for monitoring patients of different disorders. At the same time, the home setting segment, would grow at the fastest CAGR of 5.0% during the study period.

Based on geography, North America held the highest share in 2019, generating more than two-fifths of the global patient monitoring devices market. This is attributed to the huge availability of patient monitoring devices in this region. Simultaneously, the Asia-Pacific region would portray the fastest CAGR of 5.5% from 2019 to 2027. This is due to rise in the geriatric population and increase in the purchasing power of populous countries such as China and Japan. Allied Market Research