In 2022, the global Wireless Patient Monitoring market is expected to be valued US$ 96.10 billion. The market is expected to grow at a 24% CAGR over the forecast period, reaching a market valuation of US$ 825.92 Billion by 2032. The high expansion of the market in the approaching years may be attributed to advancements in monitoring technologies that allow patients to move while being constantly observed and surveilled.
The increased demand for continuous monitoring devices, as well as the rising prevalence of chronic diseases such as hypertension, diabetes, and cardiovascular disease, are driving the market for Wireless Patient Monitoring.
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Advent of Telehealth and Virtual Care to Create Tailwind for the Wireless Patient Monitoring Market Growth
Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.
During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.
Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Wireless Patient Monitoring market.
Key Wireless Patient Monitoring Market Takeaways and Projections
- The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
- Germany Wireless Patient Monitoring market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
- China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
- India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.
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Report Benefits & Key Questions Answered
- Wireless Patient Monitoring Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Wireless Patient Monitoring market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
- Wireless Patient Monitoring Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Wireless Patient Monitoring market. As per the survey, Wireless Patient Monitoring sales will project steady growth over the forecast period.
- Wireless Patient Monitoring Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Wireless Patient Monitoring market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Wireless Patient Monitoring Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.
Competitive Landscape Analysis
The latest study conducted by FMI provides in-depth insights into the global Wireless Patient Monitoring market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Wireless Patient Monitoring market.
Some of the prominent market players are profiled by FMI are:
American TeleCare, Cardiocom, Carematix, Cybernet Medical Corporation, Drager Medical, GE Healthcare, GlobalMedia Group, Honeywell HomMed
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Wireless Patient Monitoring Systems Market: Segmentation
The global market for Wireless Patient Monitoring Systems are broadly classified on the basis of product type, application and end user.
Based on Product type, the Wireless Patient Monitoring Systems has been segmented as follows:
- Cardiac Monitoring Devices
- ECG Monitoring
- BP Monitors
- Heart Rate Monitors
- Fetal Heart Rate Monitor
- Respiratory Monitoring Devices
- Respiration Rate Monitor
- Spirometers
- Sleep Apnea Monitor
- Hematological Monitors
- Blood Glucose Monitor
- Prothrombin Time Monitor
- Multi-sign Monitors
Based on application type, the Wireless Patient Monitoring Systems has been segmented as follows:
- Asthma Monitoring
- Chronic Obstructive Pulmonary Disease Monitoring
- Congestive Heart Failure Monitoring Device
- Coronary Heart Disease Monitoring Device
- Cancer Monitoring Device
- Diabetes Monitoring Device
- Other Disease Monitoring
Based on end user, the Wireless Patient Monitoring Systems has been segmented as follows:
- Hospitals
- Home healthcare
- Nursing homes
- Other (including first responders, institutional, physician offices, and military)
Region
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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