Overview and Scope
Real-time health monitoring devices are advanced technological instruments that continually monitor and record an individual’s vital signs, health indicators, and physiological measurements in real time. They are used to enable people to proactively monitor their health, discover early warning indications of medical issues, and make educated decisions about their well-being.
Sizing and Forecast
The real time health monitoring devices market size has grown exponentially in recent years. It will grow from $10.36 billion in 2023 to $12.69 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The growth in the historic period can be attributed to the increased awareness of preventive healthcare, aging populations, integration of AI and machine learning, shift towards personalized medicine, and regulatory initiatives.
The real time health monitoring devices market size is expected to see exponential growth in the next few years. It will grow to $28.79 billion in 2028 at a compound annual growth rate (CAGR) of 22.7%. The growth in the forecast period can be attributed to technological advancements, increasing demand for remote patient monitoring, growing prevalence of chronic diseases, rising awareness and adoption of wearable devices, integration of artificial intelligence for predictive analytics, and expansion of healthcare infrastructure. Major trends in the forecast period include increased integration of AI and machine learning, a surge in demand for wearable devices, growth in remote patient monitoring solutions, expansion of telemedicine platforms, rise in partnerships between health tech companies and fitness brands, and emphasis on data security and privacy measures.
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Segmentation & Regional Insights
The real time health monitoring devices market covered in this report is segmented –
1) By Type: Wearable Devices, Connected Home Health Medical Devices
2) By Application: Cardiovascular Diseases, Diabetes, Cancer, Hypertension, Infections, Bronchitis, Dehydration, Sleep Disorder Weight Management And Fitness Monitoring, Other Applications
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Homecare Settings, Other End Users
North America was the largest region in the real time health monitoring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real time health monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise of chronic diseases is expected to propel the real time health monitoring device market going forward. Chronic diseases are long-term health conditions that persist over time and typically progress slowly, often requiring ongoing management and medical care. The rise in chronic diseases is linked to the aging population across different regions, as older individuals naturally become more prone to conditions such as heart disease, diabetes, and certain cancers due to physiological changes. Continuous monitoring systems for health in real-time aid in the management of chronic disorders by continuously observing vital signs, symptoms, and pertinent health information. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, it is projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million in 2050. Therefore, the rise of chronic diseases is driving the growth of the real time health monitoring device market.
Key Industry Players
Major companies operating in the real time health monitoring devices market are Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Abbott Laboratories, Xiaomi Corporation, Medtronic plc, Koninklijke Philips N.V., Stryker Corporation, GE Healthcare, Omron Corporation, Cerner Corporation, Garmin Ltd., ResMed Inc., Hill-Rom Holdings Inc., Dexcom Inc., Masimo Corporation, Nihon Kohden Corporation, Fitbit Inc., Polar Electro Oy, BioTelemetry Inc., iRhythm Technologies Inc., Verily Life Sciences LLC, Withings S.A.S., Empatica Inc., TempTraq, LifeSense Group B.V., Oura Health Ltd., Biofourmis Healthcare PLC, Oxitone Medical Ltd., Medidata Solutions Inc.
The real time health monitoring devices market report table of contents includes:
1. Executive Summary
2. Real Time Health Monitoring Devices Market Characteristics
3. Real Time Health Monitoring Devices Market Trends And Strategies
4. Real Time Health Monitoring Devices Market – Macro Economic Scenario
5. Global Real Time Health Monitoring Devices Market Size and Growth
….
32. Global Real Time Health Monitoring Devices Market Competitive Benchmarking
33. Global Real Time Health Monitoring Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Real Time Health Monitoring Devices Market
35. Real Time Health Monitoring Devices Market Future Outlook and Potential Analysis
36. Appendix
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