The Business Research Company’s report on the Digital Health Monitoring Devices Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the digital health monitoring devices market in recent years?
The rising demand for remote monitoring across the globe is expected to propel the growth of the digital health monitoring devices market going forward. The remote monitoring device is a medical device used to track and monitor patients’ health at home. The digital health monitoring devices allow healthcare professionals to electronically capture and monitor medical and other health data of patients for assessment, recommendations, and instructions. For instance, in June 2022, according to the Department of Health and Social Care, a UK-based government department, an additional 500,000 people could benefit from remote monitoring by March 2023. In the past year, over 280,000 individuals with long-term conditions have already utilized remote monitoring at home and in care homes. Therefore, the rise in demand for remote monitoring devices drives the growth of the digital health monitoring devices market.
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What is the projected market size of the digital health monitoring devices industry, and how is it expected to grow?
The digital health monitoring devices market size has grown rapidly in recent years. It will grow from $6.58 billion in 2024 to $7.8 billion in 2025 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to clinical research and evidence-based practices, regulatory framework development, patient engagement and empowerment, internet of things (IoT) integration.
The digital health monitoring devices market size is expected to see exponential growth in the next few years. It will grow to $17.07 billion in 2029 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to increasing prevalence of chronic diseases, patient-centric care and self-management, focus on preventive healthcare, rise in health and fitness consciousness, remote diagnostics and decision support. Major trends in the forecast period include advancements in wearable technology, remote patient monitoring (rpm), telemedicine and telehealth adoption, internet of things (IoT) integration.
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Who are the key players driving competition in the digital health monitoring devices market?
Major companies operating in the digital health monitoring devices market are 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, Honeywell Life Sciences
What key trends are expected to drive the digital farming market during the forecast period?
Technological innovation is a key trend gaining popularity in the digital health monitoring devices market. Companies in the digital health monitoring devices market are focusing on using clinical innovation to monitor patients’ health as well as to gain a competitive edge in the market. 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 Pylo GL1-LTE blood glucose meter is clinically validated and connects to various cellular networks across the U.S. to ensure reliable data transmission. It integrates with the Prevounce remote care management platform and can connect to other health software via the Pylo cloud API. Part of Prevounce’s Pylo line, which includes cellular-connected blood pressure monitors and weight scales, the GL1-LTE is designed for patients in remote patient monitoring (RPM) programs for diabetes. With roaming 4G connectivity, the device requires no configuration and securely transmits real-time readings to care teams.
Which key geographies are driving the growth of the digital health monitoring devices market?
North America was the largest region in the digital health monitoring devices market share in 2024. The regions covered in the digital health monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the digital health monitoring devices market?
The digital health monitoring devices market covered in this report is segmented –
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
Subsegments:
1) By Tele-Health: Video Consultation Tools, Telemedicine Platforms, Remote Diagnosis Systems
2) By EHR Or EMR (Electronic Health Records Or Electronic Medical Records): Cloud-Based EHR Or EMR Solutions, On-Premises EHR Or EMR Solutions, Interoperability Tools
3) By M-Health (Mobile Health): Health And Fitness Apps, Mobile Patient Engagement Tools, Medication Management Apps
4) By Wireless Health: Wireless Health Monitoring Devices, Wearable Health Trackers, Wireless Patient Communication Devices
5) By Remote Patient Monitoring: Home Monitoring Devices, Chronic Disease Management Tools, Wearable Biosensors
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What defines the structure and scope of the digital health monitoring devices market?
Digital health monitoring devices are devices used to monitor and analyze acute or chronic conditions outside of the hospital or clinic setting. These devices digitally track and monitor the health of people and give easy access to relevant information, which helps in improving the quality of healthcare and delivering value to healthcare practitioners, patients, hospitals, and governments.
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