Digital Patient Monitoring Devices Market Set to Skyrocket

The worldwide digital patient monitoring devices sector is set expand rapidly this decade, according to Polaris Market Research data.

Fueled by a 23 percent annual growth rate, the market is forecast to reach $122.26 billion by 2028, driven by the global adoption of digital tools for chronic disease management and embracement of home healthcare. The world’s aging population will play a major role too, as this population seeks treatments for ailments requiring monitoring—heart failure, diabetes, and chronic obstructive pulmonary disease.
 
Despite the various benefits of digital examination and monitoring technology, lingering concerns about data security and privacy could hamper the market’s growth. However, digital examination is a fast-moving healthcare field, and new techniques and technology integration is constantly evolving. This evolving methodology of overseeing patient care is a way to adapt to the emerging needs of patients, thereby creating a lucrative growth opportunity.
 
The market players include Abbott, Athenahealth, Biotronik SE & Co. KG, FitBit, Garmin Ltd., GE Healthcare, Hill-Rom Services Inc., Koninklijke Philips N.V., Koninklijke Philips N.V. AB, Masimo, Medtronic, Nihon Kohden Corporation, Omron, ResMed, Siren, Vital Connect. 
 
In June 2021, Max Healthcare and MyHealthcare launched an artificial intelligence (AI) remote patient examining framework. The launch of remote patient care monitoring will expand the geographical presence of Max Healthcare which results in allowing patients to stay connected with Max Hospitals and its doctors.
 
Previously, in February 2021, Philips launched Philips Medical Tablet, a remote examining kit that assists doctors and clinicians in examining larger populations during the COVID-19 pandemic.