The market is segmented, By Product (Software & Services, Devices), By Application (Cancer, Cardiovascular Diseases, Bronchitis, Diabetes, Infections, Others), By End User (Hospital Based Patients, Ambulatory Patients, Home Healthcare), and By Region - COVID-19 Impact Analysis and Forecast to 2028.
According to the report, The Patient Monitors Market was estimated to grow from USD 46.5 billion in 2021 to USD 77.21 billion by 2028 at a healthy CAGR of 7.48% during the forecast period.
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Segment Analysis
By End-User Type
The market has been divided into hospital-based patients, ambulatory patients, and home healthcare. The hospital-based patient’s segment accounted for a revenue share of nearly 50.1% in 2021. The segment growth can be attributed to the prevalence of many patients in the hospitals. The home healthcare segment is projected to register the fastest CAGR due to the increasing number of people interacting with the doctors at home coupled with convenience, availability of skilled staff, and cost-efficiency.
By Region
The North American market accounted for a revenue share of nearly 42% in 2021 and is expected to grow at a substantial CAGR in the following years due to the increasing prevalence of chronic diseases, expanding geriatric populace, and high demand for low-cost healthcare treatment. The market in the Asia-Pacific region is projected to register a healthy growth rate on account of the rising in the number of people suffering from chronic diseases and the increasing adoption of digitally advanced solutions.
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