Patient Monitoring Devices Market Set to Reach USD 71.1 Billion by 2029

The latest report, "Patient Monitoring Devices Market by Product (Cardiac Monitoring Devices, Pulse Oximeters, Spirometers, Fetal Monitors, Temperature Monitors, Blood Pressure Monitors, ECG, ICP, Weight Monitoring), End Users, and Customer Unmet Needs – Global Forecast to 2029," projects that the market will grow from USD 48.5 billion in 2024 to USD 71.1 billion by 2029, reflecting a compound annual growth rate (CAGR) of 8.0% during the forecast period.

This robust growth is driven by a combination of factors, including increasing demand for wireless monitoring solutions and biosensors, the growing presence of key industry players in emerging markets, rising public and private investments in clinical research, a rapidly aging global population, and the escalating prevalence of chronic diseases.

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The report features 403 market data tables, 57 figures, and spans 431 pages, offering a detailed view of the market landscape.
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Blood Glucose Monitoring Systems to Exhibit Strong Growth from 2024 to 2029

Among the various product segments, blood glucose monitoring systems are expected to witness particularly strong growth. This includes self-monitoring systems, continuous glucose monitors (CGMs), and wearable glucose monitoring devices.

The primary driver for this surge is the rising global prevalence of diabetes, exacerbated by lifestyle factors such as obesity, physical inactivity, and unhealthy diets. As Type 2 diabetes diagnoses continue to climb worldwide, so does the demand for effective blood sugar management tools.

Regular blood glucose monitoring is essential for detecting hyperglycemia (high blood sugar) and hypoglycemia (low blood sugar) early, enabling timely interventions that can prevent severe complications. This makes blood glucose monitoring systems indispensable in diabetes care.

North America to Maintain Market Leadership

Geographically, the North American market led the global patient monitoring devices market in 2023 and is expected to continue holding a significant share.

Several factors contribute to this dominance, including the high prevalence of chronic diseases such as diabetes, cardiovascular conditions, and respiratory disorders, all of which require regular monitoring for effective management. Additionally, the shift towards preventive healthcare in North America underscores the importance of early disease detection and continuous monitoring, ultimately enhancing patient outcomes and reducing long-term healthcare costs.

Key Market Players

Leading companies shaping the patient monitoring devices market in 2023 include:

• Medtronic (Ireland)
• Nihon Kohden Corporation (Japan)
• Mindray Medical International Ltd. (China)
• GE Healthcare (US)
• Abbott Laboratories (US)
• Boston Scientific Corporation (US)

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