PUBLISHER: Grand View Research | PRODUCT CODE: 1587434
PUBLISHER: Grand View Research | PRODUCT CODE: 1587434
The global digital patient monitoring devices market size is anticipated to reach USD 692.34 billion by 2030, registering a CAGR of 25.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Growing prevalence of chronic diseases, and rising elderly population, are anticipated to have an impact on the growth of the market. In addition, market growth is anticipated to be fueled by increasing usage of next-generation technologies, such as artificial intelligence.
The COVID-19 outbreak brought to light the value and necessity of digital patient monitoring devices as a means of connecting patients and healthcare providers when in-person consultations are not feasible. The probability of disease transmission is reduced by using teleconsultations to evaluate suspected COVID-19 cases and to direct the patient's appropriate treatment. In the situation of a public health emergency, telemedicine also makes it possible for many of the key clinical services to continue to run normally and without interruption. Thus, increasing demand for the homecare during the COVID-19 pandemic has anticipated to propel the upsurge of the market.
Various government initiatives to promote digital health are also expected to grow the demand for digital patient monitoring over the forecast period. For instance, in May 2022 , the HHS announced an investment of around USD 16.3 million to expand the telehealthcare program in the U.S. Hence, this government funding in digital health is projected to upsurge the growth of the market across the globe. Moreover, the usage of mobile devices is rising among physicians. For instance, according to an article published by BMC Health, around 82% of people use mobile phones for patient engagement . Thus, rising importance of mobile phones and mHealth for improving health outcomes & patient care is driving the market.