What Is The Growth Projection For The Digital Health Monitoring Devices Market?
The digital health monitoring devices market has exhibited significant growth in recent years. The market size is projected to climb from $6.58 billion in 2024 to $7.8 billion in 2025, at a compound annual growth rate (CAGR) of 18.6%. This growth during the historical period can be attributed to factors such as clinical research and evidence-based practices, development of regulatory frameworks, patient engagement and empowerment, and IoT integration.
Moving forward, the market is expected to expand exponentially. Projections indicate that the market will grow to $17.07 billion in 2029, with a CAGR of 21.6%. The anticipated growth during the forecast period can be attributed to increasing prevalence of chronic diseases, a focus on patient-centric care and self-management, increased attention on preventive healthcare, a rise in health and fitness consciousness, and advances in remote diagnostics and decision support. Digital health monitoring trends anticipated in the forecast period include developments in wearable technology, remote patient monitoring (RPM), telemedicine, telehealth adoption, as well as IoT integration.
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What Are The Major Drivers For The Digital Health Monitoring Devices Market?
The growth of the digital health monitoring devices market is anticipated to be driven by an increasing demand for remote monitoring across the globe. Remote monitoring devices allow healthcare professionals to electronically capture and monitor medical and other health data of patients, facilitating assessment, recommendations, and instructions. Recent data from the UK’s Department of Health and Social Care reveals that an additional 500,000 people could benefit from remote monitoring by March 2023, indicating an increase in demand expected to drive the market’s growth.
What Are The Key Segments Of The Digital Health Monitoring Devices Market?
The digital health monitoring devices market report covers the following key segments:
1) By Type: Tele-Health, EHR or EMR, M-Health, Wireless Health, Remote Patient Monitoring
2) By Product Type: Device, Software, Services, Other Products
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Homecare Settings, Other End-users
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What Are The Major Players In The Digital Health Monitoring Devices Market?
Leading companies operating in the digital health monitoring devices market include Philips Healthcare, Medtronic, GE Healthcare, Abbott Laboratories, Omron Healthcare, Fitbit (now part of Google), Garmin, Dexcom, Withings, Apple Inc., Masimo Corporation, iHealth Labs, AliveCor, Qardio, Huawei Technologies, Xiaomi Inc., Polar Electro, ResMed, Boston Scientific, Biotronik, Becton, Dickinson and Company (BD), Nihon Kohden, Siemens Healthineers, Mindray, Spacelabs Healthcare, Schiller AG, Nonin Medical, and Honeywell Life Sciences.
What Emerging Trends Are Visible In The Digital Health Monitoring Devices Market?
A significant emerging trend in the digital health monitoring devices market is technological innovation. For instance, in June 2024, Prevounce Health, a US-based provider of remote care management software, devices, and services, launched the Pylo GL1-LTE remote blood glucose monitoring device. The device aims to improve remote patient monitoring for diabetes with roaming 4G connectivity, allowing secure transmission of real-time readings to care teams without requiring device configuration.
What Is The Regional Analysis For The Digital Health Monitoring Devices Market?
North America has the largest share in the digital health monitoring devices market as of 2024. The market report covers other regions too, including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Digital Health Monitoring Devices Market Report 2025 Offer?
Digital health monitoring devices are designed for monitoring and analyzing acute or chronic conditions outside of conventional hospital or clinic settings. Providing physicians and patients with quick access to relevant information, these devices are not only improving the quality of healthcare, but also adding value to healthcare practitioners, patients, hospitals, and governments.
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