Germany Patient Monitoring Market Size (2024 - 2029)

The patient monitoring market in Germany is experiencing growth driven by increased demand for wearable and remote monitoring devices, particularly due to the COVID-19 pandemic, which highlighted the need for contactless health tracking. The rising prevalence of chronic diseases, influenced by lifestyle changes, is further propelling the market, as these conditions necessitate continuous monitoring. Additionally, advancements in product development and enhanced distribution channels are contributing to market expansion. However, the high cost of technology poses a challenge to market growth.

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Market Size of Germany Patient Monitoring Industry

Germany Patient Monitoring Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.40 %
Market Concentration Medium

Major Players

Germany Patient Monitoring Market Major Players

*Disclaimer: Major Players sorted in no particular order

Germany Patient Monitoring Market Analysis

The Germany Patient Monitoring Market is expected to witness a CAGR of 6.4% during the forecast period (2022 - 2027).

The COVID-19 pandemic has significantly impacted market growth. The demand for wearable devices and patient monitoring devices has increased during the pandemic period as they allow contactless communication and tracking of medical conditions by clinicians. The spread and early diagnosis of COVID-19 can be determined through the remote monitoring of vital signs such as skin and body temperature, respiratory rate, pulse rate, heart rate, and blood oxygen level, which are related to COVID-19. This is anticipated to have a positive effect on the growth of the studied market. For instance, according to an article published by The Lancet Digital Health Journal, in April 2022, titled "Effectiveness and safety of pulse oximetry in remote patient monitoring of patients with COVID-19: a systematic review", it has been found that pulse oximetry is a practical method for determining whether patients need hospital treatment or may be safely handled at home by remotely monitoring their SpO2 levels. Hence, COVID-19 has impacted the market growth.

Certain factors that are propelling the market growth are the rising burden of chronic diseases due to lifestyle changes and the growing preference for home and patient monitoring.

The increasing prevalence of chronic diseases such as cardiovascular, cancer, diabetes, and neurodegenerative diseases among the population is expected to increase the demand for patient monitoring systems, thereby propelling market growth. For instance, according to GLOBOCAN, in 2020, there were around 628,519 new cancer cases in Germany, with 69,697 new cases of breast cancer, 67,959 prostate cancer, 64,804 lung cancer, 57,528 colorectum cancer, 35,147 bladder cancer, and 333,384 other cancers. Additionally, as stated by the Alzheimer's Association, in the year 2021, more than 1.6 million people in Germany were suffering from Alzheimer's Disease. Thus, the rising burden of chronic diseases is expected to increase the demand for patient monitoring devices such as glucometers, blood pressure machines, and others which are expected to augment the market growth.

Other factors, such as continuous product development and commercialization, and strengthening distribution channels of major product manufacturers are expected to aid the growth of the German patient monitoring market. For instance, in December 2021, Xiaomi launched Redmi Watch 2 Lite smartwatch in the European market, Germany for EUR 79. It supports several features, including tracking blood oxygen levels, steps taken, and heart rate. Also, in April 2020, Withings launched the latest sleep-tracking device, Sleep Analyzer, a mat that can be used to detect sleep apnea. The device analyzes sleep and snoring episodes by using its advanced sensors when placed underneath a mattress.

However, the high cost of technology is expected to hinder market growth over the forecast period.

Germany Patient Monitoring Industry Segmentation

As per the scope of this report, patient monitoring devices are monitoring devices that continuously monitor the patient's vital parameters, like blood pressure and heart rates, by using a medical monitor and collecting medical (and other) data from individuals. The Germany Patient Monitoring Market is segmented by Type of Device (Hemodynamic Monitoring Devices, Neuromonitoring Devices, Cardiac Monitoring Devices, Respiratory Monitoring Devices, Remote Patient Monitoring Devices, and Other Types of Devices), Application (Cardiology, Neurology, Respiratory, Weight Management, and Fitness Monitoring, and Other Applications) and End-User (Home Healthcare, Hospitals and Clinics, and Other End Users). The report offers the value (in USD million) for the above segments.

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Germany Patient Monitoring Market Size Summary

The patient monitoring market in Germany is poised for significant growth, driven by the increasing prevalence of chronic diseases and the rising geriatric population. The demand for patient monitoring systems, including wearable devices, is on the rise due to the need for continuous health tracking and management of conditions such as cardiovascular diseases, diabetes, and neurodegenerative disorders. The COVID-19 pandemic has further accelerated this trend, highlighting the importance of remote monitoring capabilities to ensure contactless and efficient healthcare delivery. The market is characterized by continuous product development and the introduction of advanced monitoring devices, which are expected to enhance patient care and streamline healthcare processes.

Despite the high cost of technology posing a challenge, the market is supported by strategic initiatives from key players, including mergers, acquisitions, and new product launches. Companies like Abbott Laboratories, GE Healthcare, and Siemens Healthcare GmbH are actively contributing to the market's expansion through innovative solutions and partnerships. The remote patient monitoring segment, in particular, is anticipated to experience robust growth, driven by its ability to provide real-time health insights and reduce healthcare costs. As the demand for efficient and effective patient monitoring solutions continues to rise, the German market is expected to witness sustained growth over the forecast period.

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Germany Patient Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Burden of Chronic Diseases due to Lifestyle Changes

      2. 1.2.2 Growing Preference for Home and Remote Monitoring

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Technology

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value in USD million)

    1. 2.1 By Type of Device

      1. 2.1.1 Hemodynamic Monitoring Devices

      2. 2.1.2 Neuromonitoring Devices

      3. 2.1.3 Cardiac Monitoring Devices

      4. 2.1.4 Respiratory Monitoring Devices

      5. 2.1.5 Remote Patient Monitoring Devices

      6. 2.1.6 Other Types of Devices

    2. 2.2 By Application

      1. 2.2.1 Cardiology

      2. 2.2.2 Neurology

      3. 2.2.3 Respiratory

      4. 2.2.4 Weight Management and Fitness Monitoring

      5. 2.2.5 Other Applications

    3. 2.3 By End Users

      1. 2.3.1 Home Healthcare

      2. 2.3.2 Hospitals and Clinics

      3. 2.3.3 Other End Users

Germany Patient Monitoring Market Size FAQs

The Germany Patient Monitoring Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)

Abbott, Johnson & Johnson, Medtronic PLC, Boston Scientific Corporation and GE Healthcare are the major companies operating in the Germany Patient Monitoring Market.

Germany Patient Monitoring Market Report Snapshots

Patient Monitoring Market in Germany Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)