Patient Monitoring Devices Market Size, Share & Trend Analysis Report By Product, By End-Use (Hospitals, Ambulatory Surgery Centers, Home Care Settings, Other End Users), By Region,- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The global patient monitoring devices market size was exhibited at USD 52.10 billion in 2023 and is projected to hit around USD 104.13 billion by 2033, growing at a CAGR of 7.17% during the forecast period 2024 to 2033.

Key Takeaways:

• With more than 43.0% of the revenue share, North America dominated the market in 2023.
• The multi-parameter patient monitoring devices segment held the largest revenue share in 2023, accounting for more than 22.7% of the global revenue. 
• With more than 52.0% of the market share, the hospital sector dominated the patient monitoring devices market in 2023.

Market Overview

The Patient Monitoring Devices Market plays an indispensable role in modern healthcare delivery, facilitating real-time or continuous surveillance of a patient’s vital physiological parameters. These devices help in detecting anomalies, guiding treatment decisions, and reducing morbidity and mortality by offering timely interventions across various clinical settings.

Patient monitoring systems are essential in critical care environments such as intensive care units (ICUs), surgical recovery rooms, and emergency departments, as well as in ambulatory surgical centers and home healthcare settings. The market includes a wide variety of products like cardiac monitors, blood glucose monitors, multi-parameter monitors, respiratory monitors, neuromonitoring devices, and wearable sensors, which are becoming increasingly integrated with digital health platforms.

The COVID-19 pandemic significantly accelerated the demand for remote patient monitoring, reshaping consumer behavior and institutional practices. Today, digital transformation, population aging, the rising burden of chronic illnesses, and a shift towards value-based care and home-based services continue to steer this market’s evolution.

With increasing investment in telemedicine, AI-driven diagnostics, wearable technology, and preventive care models, the patient monitoring devices market is positioned for continued innovation and robust growth in the years to come.

Major Trends in the Market

• Rise of Wearable and Smart Monitoring Technologies
  Devices such as smartwatches, biosensors, and fitness trackers are evolving into clinical-grade tools for health monitoring and chronic disease management.

• Integration with Cloud and IoT Platforms
  Cloud-based monitoring solutions are enabling remote data sharing, real-time analysis, and predictive diagnostics across health systems.

• Miniaturization and Portability
  Portable, user-friendly monitors are replacing bulky hospital-based systems to support mobile healthcare and home usage.

• Data-Driven Personalized Medicine
  AI-powered devices and software are enabling individualized care through tailored treatment recommendations based on continuous monitoring.

• Expansion of Home Care and Telemonitoring Solutions
  Reimbursement support, patient convenience, and digital connectivity are boosting the uptake of home-use monitoring tools.

Report Scope of The Patient Monitoring Devices Market

Market Dynamics

Growing Adoption of Remote Patient Monitoring

In the past few years, there has been rapid adoption of patient monitoring devices, especially during the COVID-19 pandemic, for continuous monitoring and analyzing vitals. Patient monitoring systems allow healthcare providers to keep patients’ health in check while at home or in a remote location. Digitalization of medical care can generate new revenues for healthcare practices and help lower overall healthcare costs. Remote monitoring devices also aided non-COVID-19 patients.

Increasing Prevalence of Chronic Conditions

The increasing prevalence of chronic diseases across the globe is likely to boost the demand for patient monitoring devices. For instance, according to WHO, chronic diseases account for around 73% of all deaths and 60% of the global burden of disease in 2020. Moreover, developing economies account for 79% of deaths attributed to these diseases. The most prominent chronic diseases include cardiovascular diseases, COPD, cancer, and type II diabetes.

Technological Advancements in Patient Monitoring Devices

In the current complex healthcare environment, the need for advanced and accurate monitoring systems increases as healthcare organizations progress to provide better services. Patient monitoring is continuously evolving from ad-hoc to continuous monitoring to provide accurate data to clinicians to make treatment decisions. The main focus of hospitals and healthcare providers is to get reliable data and lower-cost devices, which is considered the first step toward technological advancement. Technological advancements in patient monitoring devices can support clinicians in identifying patients with a high risk of disease.

Segments:

Patient Monitoring Devices Market By Product Insights

Blood glucose monitoring systems dominate the product landscape, reflecting the global diabetes epidemic. Self-monitoring blood glucose (SMBG) devices and continuous glucose monitors (CGMs) are now essential tools in diabetes management, enabling real-time tracking and reducing complications.

The adoption of CGMs is increasing, especially among type 1 diabetics and insulin-dependent type 2 diabetics, due to their ability to detect trends and glucose variability. Key innovations include minimally invasive sensors, integration with insulin pumps, and smartphone-linked analytics that aid in treatment adjustments.

Smart ECG monitors are the fastest growing due to increased prevalence of arrhythmias, stroke risk, and hypertension, coupled with public demand for proactive heart health monitoring. Devices such as patch-based ECG monitors and smartwatches with ECG functions allow for early detection of cardiac anomalies without clinical intervention.

These devices are especially valuable for patients with paroxysmal atrial fibrillation, which may not be detected during standard 24-hour monitoring. The ability to record events over weeks and send alerts in real-time is attracting cardiologists and tech-savvy consumers alike.

Patient Monitoring Devices Market By End-use Insights

Hospitals dominate the end-use segment due to their comprehensive use of monitoring systems across departments—ICUs, emergency rooms, surgical wards, and general medicine. Multi-parameter monitors, fetal/neonatal monitors, and invasive hemodynamic devices are integral to patient safety and outcomes in critical care.

Advanced health facilities rely on centralized patient monitoring stations, allowing staff to oversee dozens of patients simultaneously. Integration with electronic medical records and alarm management systems further enhance their utility in hospital settings.

Home care settings are growing fastest, driven by chronic disease prevalence, increased caregiver education, and insurance support for remote monitoring. Devices like portable blood pressure monitors, smart thermometers, and oximeters are now household health staples.

The convenience and safety of remote monitoring were emphasized during the COVID-19 pandemic, and this behavioral shift continues to fuel interest in home-based devices. Patients recovering from surgeries or living with long-term conditions are increasingly opting for home monitoring to reduce hospital visits and maintain independence.

Patient Monitoring Devices Market By Regional Insights

North America leads the market due to high adoption of advanced healthcare technologies, significant R&D activity, and a favorable reimbursement framework. The U.S. is home to leading device manufacturers and has implemented numerous public health initiatives targeting chronic disease management and preventive care.

Government programs like Medicare and private payers often support RPM devices for diabetes, heart failure, and sleep apnea, enabling deeper market penetration. Additionally, a tech-friendly consumer base and widespread smartphone use make North America a natural fit for connected health solutions.

Asia-Pacific is the fastest-growing region, supported by economic development, urbanization, and rising healthcare awareness. Countries like China and India face a dual burden of infectious diseases and growing chronic disease incidence, prompting investments in monitoring tools across public and private sectors.

The proliferation of smartphones, health apps, and telemedicine platforms in Asia is enabling low-cost deployment of patient monitoring systems. Japan and South Korea are also advancing in elderly care technology, integrating patient monitoring in long-term care homes and smart cities.

Recent Developments

• March 2025 – Medtronic announced FDA clearance for its next-gen Guardian™ CGM sensor, promising improved accuracy and longer wear time.

• February 2025 – Apple expanded its smartwatch features to include atrial fibrillation burden tracking and passive respiratory rate monitoring, targeting cardiology integration.

• January 2025 – Masimo introduced a wearable capnography device for pediatric and at-home respiratory monitoring, expanding their non-invasive monitoring suite.

• December 2024 – GE HealthCare and a cloud data analytics firm partnered to develop an AI-driven patient deterioration alert system for remote ICUs.

Some of the prominent players in the Patient monitoring devices market include:

• Bosch
• Biotronik
• Intel
• Welch Allyn
• Health anywhere Inc.
• Koninklijke Philips N.V.
• GE Healthcare
• Medtronic
• MASIMO CORPORATION
• Smiths Medical

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global patient monitoring devices market.

Product

• Blood Glucose Monitoring Systems

• • Self-monitoring Blood Glucose Systems
  • Continuous Glucose Monitoring Systems

• Cardiac Monitoring Devices

• • ECG Devices
  • Implantable Loop Recorders
  • Event Monitors
  • Mobile Cardiac Telemetry Monitors
  • Smart/Wearable ECG Monitors

• Multi-parameter Monitoring Devices.

• • Low-acuity Monitoring Devices
  • Mid-acuity Monitoring Devices
  • High-acuity Monitoring Devices

• Respiratory Monitoring Devices

• • Pulse Oximeters
  • Spirometers
  • Capnographs
  • 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

• Other Patient Monitoring Devices

End-use

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

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)