Patient Monitoring Devices Market Size Expected to Reach USD 123.72 Bn by 2034

The global patient monitoring devices market size is calculated at USD 63.94 billion in 2025 and is expected to reach around USD 123.72 billion by 2034, growing at a CAGR of 7.73% for the forecasted period.

Ottawa, July 28, 2025 (GLOBE NEWSWIRE) -- The global patient monitoring devices market size was valued at USD 59.36 billion in 2024 and is predicted to hit around USD 123.72 billion by 2034, a study published by Towards Healthcare a sister firm of Precedence Research.

The growth of the market is driven by the growing demand for remote and personalized care with a technologically advanced system, which fuels the growth of the market.

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Key Takeaways

• North America dominated the global market in 2024.
• Asia-Pacific is anticipated to grow at the fastest rate in the patient monitoring devices market during the forecast period.
• By product, the multi-parameter monitoring devices segment held a dominant presence in the market in 2024.
• By product, the cardiac monitoring devices segment is predicted to witness significant growth in the market over the forecast period.
• By end-use, the hospital segment led the global market in 2024.
• By end-use, the home care settings segment is expected to grow at the fastest rate in the market during the forecast period.

Market Overview & Potential

A patient monitor is a medical device that tracks, records, and displays a patient's vital signs and other physiological data, offering real-time updates on their health. These devices are essential for continuous monitoring, particularly in critical care environments, allowing healthcare providers to swiftly detect and address any changes in the patient's condition. Common applications include critical care, routine checkups, and remote surveillance. Types of patient monitors range from basic vital sign monitors to advanced multiparameter units and remote monitoring systems.

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What is the Growth Potential Responsible for the Growth of the Patient Monitoring Devices Market?

The global market for patient monitoring devices is growing significantly, fueled by various factors such as the increasing prevalence of chronic diseases like cardiovascular conditions, diabetes, and respiratory illnesses that need ongoing supervision. The aging population, being more susceptible to chronic ailments, amplifies the demand for these devices.

Technological progress, especially in wireless and wearable tech, has led to the creation of devices that enable continuous, non-intrusive monitoring. Additionally, the rising use of remote patient monitoring (RPM) helps healthcare providers oversee patients remotely, decreasing hospital visits and costs. Government initiatives like the FCC's COVID-19 Telehealth Program and Rural Health Care Program are also instrumental in expanding RPM access, particularly in underserved regions.

What Are the Growing Trends Associated with the Patient Monitoring Devices Market?

Remote Patient Monitoring

• The growing demand for real-time patient monitoring and demand for monitoring devices like mobile devices, virtual care, and wearable sensors increases the growth of the market.
  

AI and ML Integration

• The growing demand for technologically advanced systems and devices through the integration of AI and ML boosts the growth of the market.
  

Expansion Of Virtual Care

• The growing demand for telemedicine, digital therapeutics, and remote monitoring for chronic diseases influences the growth of the market.
  

Focus On Chronic Disease Management

• The growing emphasis and attention on monitoring the growing chronic diseases for the prevention of patient deterioration increases the demand.
  

What Is the Growing Challenge in the Patient Monitoring Devices Market?

The patient monitoring devices market encounters various challenges such as data security and privacy issues, high costs, and interoperability problems. The rising adoption of connected devices for patient monitoring amplifies concerns about the security of sensitive patient information. Moreover, market growth can be impeded by difficulties in ensuring patient compliance and engagement, regulatory hurdles, and a shortage of technical expertise. 

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Regional Analysis

How Did North America Dominate the Patient Monitoring Devices Market in 2024?

North America dominated the global market in 2024. The region has seen significant growth in the market, the growth is driven by various drivers like such as the growing prevalence of chronic diseases and continuous monitoring of parameters in the aging population, which increases the demand for monitoring devices. Technological advancements for easy handling and patient control system solutions have contributed to the growth of the market and also helped in the expansion of the market in the region.

The key players of the region, like 3M, Boston Scientific Corporation, Covidien, Drägerwerk AG and Co. KGaA, GE Healthcare, Medtronic Plc, Mindray Medical, Omron, and Nihon Kohden Corporation, played a crucial role in the growth of the market through their innovation and development of products.

U.S. Market Trends

The U.S. patient monitoring devices market is seeing steady growth, thanks to strong industry players like Abbott Laboratories, GE Healthcare, and Vesta Healthcare, who currently lead the market. These devices are carefully regulated by the U.S. Food and Drug Administration (FDA), which, as of March 2025, has approved or cleared 188 companion diagnostic devices.

In 2024, the U.S. patient monitoring devices market is valued at $21.4 billion and is expected to rise to $23.03 billion in 2025. Looking further ahead, the market is projected to almost double by 2034, reaching approximately $44.68 billion. This growth at an average annual rate of 7.64% from 2025 to 2034 is being fueled by a rising number of chronic disease cases and ongoing innovation in healthcare technology.

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What Made Asia Pacific Significantly Grow in the Patient Monitoring Devices Market in 2024?

Asia-Pacific is anticipated to grow at the fastest rate in the patient monitoring devices market during the forecast period. Asia Pacific is experiencing steady growth in the market, driven by rapid growth in the medical devices sector, with a growing population and growing prevalence of chronic diseases, which require regular monitoring. The key players like GE Healthcare, Omron Healthcare, Medtronic PLC, Boston Scientific Corporation, and Abbott Laboratories play a crucial role in the growth of the market. The change in lifestyle preferences and change in eating habits have led to unhealthy norms, which lead to diseases, and this fuels the growth of the market and contributes to the expansion of the market in the region.

• According to Volza's Global Export data, the world shipped out 9,018 Patient Monitoring System shipments from October 2023 to September 2024 (TTM). These exports were handled by 601 Indian exporters to 392 buyers, showing a growth rate of 4% over the previous 12 months.
• Globally, China, the United States, and Germany are the top three exporters of Patient Monitoring Systems. China is the global leader in Patient Monitoring System exports with 23,113 shipments, followed closely by the United States with 19,428 shipments, and Germany in third place with 15,850 shipments.

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Segmental Insights

By Product

Which Product Segment Dominated the Patient Monitoring Devices Market In 2024?

The multi-parameter monitoring devices segment held a dominant presence in the market in 2024. The multi-parameter monitoring devices product segment in the patient monitoring device market is experiencing rapid growth, led by highly integrated systems that simultaneously track vital signs like heart rate, SpO₂, respiration, and temperature.

These devices, especially portable and wearable ones, offer low-power, compact, and cost-effective solutions for hospitals, home care, and ambulatory settings. Their ability to support remote monitoring, improve clinical decision-making, and enable early warning of patient deterioration is boosting demand, positioning this segment as the largest and most dynamic driver of market expansion.

The cardiac monitoring devices segment is predicted to witness significant growth in the market over the forecast period. The cardiac monitoring devices segment plays a vital role in the patient monitoring device market, driven by the growing incidence of heart-related disorders and the need for early diagnosis and continuous care.

These devices, such as ECG monitors, Holter monitors, and implantable loop recorders, enable real-time tracking of heart activity, helping detect arrhythmias, heart failure, and other conditions. Their ability to provide accurate, continuous monitoring supports improved clinical outcomes, boosting demand across hospitals, specialty clinics, and homecare settings.

By End-Use

How Did the Hospital Segment Dominate the Patient Monitoring Devices Market In 2024?

The hospital segment led the global market in 2024. The hospital segment is a major end user in the patient monitoring device market, driven by the need for continuous and accurate monitoring of patients in critical care, surgical, and emergency settings. Hospitals rely on a wide range of devices such as multi-parameter monitors, cardiac monitors, and respiratory trackers, to manage patient health and detect complications early. With rising patient admissions and advancements in monitoring technologies, hospitals continue to be a key driver of market demand and growth.

The home care settings segment is expected to grow at the fastest rate in the market during the forecast period. The home care settings segment is rapidly growing in the patient monitoring device market, fueled by the increasing shift toward personalized, remote, and cost-effective healthcare. Patients with chronic conditions, post-operative needs, or elderly care requirements benefit from portable and easy-to-use monitoring devices that track vital signs like blood pressure, heart rate, and oxygen levels. These solutions enhance patient comfort, reduce hospital visits, and support early intervention, driving strong adoption and expanding the role of home care in healthcare delivery.

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Recent Developments

In July 2025, OMRON Healthcare, a global leader in innovative home health monitoring solutions, collaborated with Tricog Health, an AI-driven cardiac care company, to announce the launch of KeeboHealth, an advanced health platform that is designed to transform remote cardiac care and accelerate progress toward OMRON’s ambitious ‘Going for Zero’ vision - a world with zero cardiovascular events.

Patient Monitoring Devices Market Key Players List

• Abbott Laboratories
• Accuhealth
• BioIntelliSense
• Cadence
• Dexcom, Inc.
• GE Healthcare
• Hicuity Health
• Medical Guardian
• Nihon Kohden Corporation
• Omron Corporation
• Prevounce Health
• Royal Philips
• Smart Meter
• Vesta Healthcare

Browse More Global Healthcare Technology Market Overview

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2. Therapeutic Drug Monitoring (TDM) Market
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   The global digital biomarkers market is valued at USD 5.09 billion in 2025 and is projected to reach around USD 32.37 billion by 2034, witnessing significant growth at a CAGR of 22.74% over the forecast period.
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Segments Covered in The Report

By Product

• Multi-parameter Monitoring Devices
  • Low-acuity Monitoring Devices
  • Mid-acuity Monitoring Devices
  • High-acuity Monitoring Devices
• Cardiac Monitoring Devices
  • ECG Devices
  • Implantable Loop Recorders
  • Event Monitors
  • Mobile Cardiac Telemetry Monitors
  • Smart/Wearable ECG Monitors
• Blood Glucose Monitoring Systems
  • Self-monitoring Blood Glucose Systems
  • Continuous Glucose Monitoring Systems
• Respiratory Monitoring Devices
  • Pulse Oximeters
  • Spirometers
  • Capnography
  • Peak Flow Meters
• Temperature Monitoring Devices
  • Handheld Temperature Monitoring Devices
  • Table-top Temperature Monitoring Devices
  • Wearable Continuous Monitoring Devices
  • Invasive Temperature Monitoring Devices
  • Smart Temperature Monitoring Devices
• Hemodynamic/Pressure Monitoring Devices
  • Hemodynamic Monitors
  • Blood Pressure Monitors
  • Disposables
• Fetal & Neonatal Monitoring Devices
  • Fetal Monitoring Devices
  • Neonatal Monitoring Devices
• Neuromonitoring Devices
  • Electroencephalograph Machines
  • Electromyography Machines
  • Cerebral Oximeters
  • Intracranial Pressure Monitors
  • Magnetoencephalograph Machines
  • Transcranial Doppler Machines
• Weight Monitoring Devices
  • Digital
  • Analog
• Others

By End-Use

• Hospitals
• Home Care Settings
• Ambulatory Surgery Centers
• Others

By Region

• North America
  • U.S.
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait
    

Access the complete Patient Monitoring Devices Market report with in-depth analysis, competitive landscape, and strategic recommendations: 

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