Market Size of North America Patient Monitoring Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 19.16 Billion |
| Market Size (2029) | USD 27.54 Billion |
| CAGR (2024 - 2029) | 7.52 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Patient Monitoring Market Analysis
The North America Patient Monitoring Market size is estimated at USD 19.16 billion in 2024, and is expected to reach USD 27.54 billion by 2029, growing at a CAGR of 7.52% during the forecast period (2024-2029).
The market in the North America region is growing at a good pace and certain factors that are driving this growth include rising incidence of chronic diseases due to the lifestyle changes in the region, an increase in the aging population, and growing demand for remote monitoring devices. The United States, being the largest economy in this region, the country's population trend largely affects the growth of the market studied in both, positive and negative manner. For instance, the rising geriatric population in the United States is acting as a growth factor for the use of patient monitoring devices. According to the United States Bureau data, the number of Americans aged 65 years and above is projected to become more than double (from 46 million in 2016 to over 98 million by 2060), and the 65-and-older age group's share of the total population is likely to rise to nearly 24% from 15%. The growing geriatric population is more prone to diseases, which increases the usage of remote monitoring devices. Thus, the increase in the aging population is expected to boost the market in the North America region.
North America 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.
| By Type of Device | |
| Hemodynamic Monitoring Devices | |
| Neuromonitoring Devices | |
| Cardiac Monitoring Devices | |
| Multi-parameter Monitors | |
| Respiratory Monitoring Devices | |
| Remote Patient Monitoring Devices | |
| Other Types of Devices |
| By Application | |
| Cardiology | |
| Neurology | |
| Respiratory | |
| Fetal and Neonatal | |
| Weight Management and Fitness Monitoring | |
| Other Applications |
| By End Users | |
| Home Healthcare | |
| Hospitals and Clinics | |
| Other End Users |
| Geography | |||||
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North America Patient Monitoring Market Size Summary
The North America Patient Monitoring Market is experiencing significant growth, driven by several key factors. The increasing prevalence of chronic diseases, largely due to lifestyle changes, and the rising aging population are major contributors to this expansion. The demand for remote monitoring devices is also on the rise, as these technologies offer convenient solutions for managing health conditions. The United States, as the largest economy in the region, plays a pivotal role in this market's dynamics. The growing geriatric population in the U.S. is particularly influential, as older adults are more susceptible to health issues, thereby increasing the need for patient monitoring devices. This trend is further supported by the rising incidence of cardiac disorders and diabetes, which are prompting a shift towards home-based and non-invasive monitoring systems.
The competitive landscape of the North America Patient Monitoring Market is moderately active, with both global and local players vying for market share. Prominent companies such as Boston Scientific Corporation, Medtronic, and GE Healthcare are key participants in this market. These organizations are leveraging their expertise to address the growing demand for advanced monitoring solutions. The market's growth is also fueled by the increasing awareness and concern about health, particularly regarding heart diseases, which remain a leading cause of mortality in the United States. As a result, there is a strong emphasis on preventive care, further driving the adoption of patient monitoring systems in the region.
North America Patient Monitoring Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes
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1.2.2 Growing Preference for Home and Remote Monitoring
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1.3 Market Restraints
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1.3.1 Resistance from the Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type of Device
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2.1.1 Hemodynamic Monitoring Devices
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2.1.2 Neuromonitoring Devices
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2.1.3 Cardiac Monitoring Devices
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2.1.4 Multi-parameter Monitors
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2.1.5 Respiratory Monitoring Devices
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2.1.6 Remote Patient Monitoring Devices
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2.1.7 Other Types of Devices
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2.2 By Application
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2.2.1 Cardiology
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2.2.2 Neurology
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2.2.3 Respiratory
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2.2.4 Fetal and Neonatal
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2.2.5 Weight Management and Fitness Monitoring
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2.2.6 Other Applications
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2.3 By End Users
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2.3.1 Home Healthcare
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2.3.2 Hospitals and Clinics
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2.3.3 Other End Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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North America Patient Monitoring Market Size FAQs
How big is the North America Patient Monitoring Market?
The North America Patient Monitoring Market size is expected to reach USD 19.16 billion in 2024 and grow at a CAGR of 7.52% to reach USD 27.54 billion by 2029.
What is the current North America Patient Monitoring Market size?
In 2024, the North America Patient Monitoring Market size is expected to reach USD 19.16 billion.
