The India patient monitoring market size was around USD 1639.28 Million in 2022 and is anticipated to surpass USD 3679.67 Million by 2031, accelerating at a compound annual growth rate (CAGR) of 9.4% during the forecast period, 2023–2031. The growth of the market is attributed to rising demand for monitoring devices that record, measure, distribute, and display a variety of biometric data such as temperature, blood oxygen saturation, and blood pressure.
Patients monitoring devices or systems are used by cardiac patients and diabetic patients regularly to avoid severe problems. Drastic changes have seen in the healthcare sector due to the habits and changing lifestyle of the people. In addition, the firms are ramping up production of critical/essential medical equipment items. For instance, Royal Philips launched the first-of-its-kind mobile Intensive Care Units (ICUs) in India in July 2020.
Moreover, Chronic Obstructive Pulmonary Disease (COPD) and Asthma patients, as well as the high incidence of cigarette smoking, are all on the rise. Asthma affects around 235 million people worldwide, according to the WHO. As a result, the use of a peak flow meter, which is used to quantify the rate of respiration, has increased. It's simple to use, transport, and access from afar, thus it's in high demand.
The COVID-19 pandemic put a huge strain on the healthcare system, which was already understaffed and overburdened. Patient monitoring technologies including ventilators assisted in the monitoring of critical COVID-19 patients, allowing measures of physiological reserves and indicating the efficacy of therapeutic treatments throughout the pandemic, demonstrating the benefits of patient monitoring devices.
India Patient Monitoring Market Trends, Drivers, Restraints, and Opportunities
- Easy usage of portable devices drives the market growth during the forecast period.
- Changing lifestyles are leading to an increase in chronic illness cases and growing preference for home and remote monitoring anticipated to propel the market expansion.
- Government reimbursement issues and various regulations can hamper the market growth.
- High cost of the technology can hinder the market expansion in the coming years.
- Innovative launch of an equipment will be rewarded with huge benefits and creates lucrative opportunities for the market growth.
Scope of India Patient Monitoring Market Report
The report on the India patient monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Patient Monitoring Market - India Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Targeted Areas (Respiratory, Fetal & Neonatal, Weight Monitoring, Remote Monitoring, Weight Management & Fitness Monitoring, Cardiology, Neurology, and Others), Product Types (Cardiac Monitoring Devices, Blood Glucose Monitoring Systems, Multi-parameter Monitoring Devices, Neuro-monitoring Device, Respiratory Monitoring Device, and Others), and End-users (Hospitals & Clinics, Home Healthcare, and Others)
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Country
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India
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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GE Healthcare; BPL Group; Mindray Medical International Limited; Nihon Kohden Corporation; Koninklijke Philips NV; Dragerwerk AG; Spacelabs Healthcare; Schiller; Omron Healthcare, Inc.; and Life Plus Healthcare (P) Limited
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India Patient Monitoring Market Segment Insights
Remote Monitoring segment to expand at a considerable CAGR
On the basis of targeted areas, the India patient monitoring market is segmented into respiratory, fetal & neonatal, weight monitoring, remote monitoring, weight management & fitness monitoring, cardiology, neurology, and others. The remote monitoring segment is projected to expand at a considerable CAGR during the forecast period, as it can operate remotely to monitor critical parameters of patients. On the other hand, the respiratory segment is anticipated to account for a major market share during the forecast period. As in India, the rising number of tuberculosis (TB) patients is leading to an increase in the demand for patient monitoring systems.
Cardiac Monitoring Devices segment to hold a significant share of the market
In terms of product types, the India patient monitoring market is divided into cardiac monitoring devices, blood glucose monitoring systems, multi-parameter monitoring devices, neuro-monitoring device, respiratory monitoring device, and others. The cardiac monitoring devices segment is expected to hold a significant share of the market in the coming years due to the increasing prevalence of heart illnesses. Medtronic gained FDA clearance for Micra AV, the smallest pacemaker with atrioventricular synchronization, in January 2020. However, the multi-parameter monitoring devices segment accounts for a significant market share owing to the technological advancement.
Hospitals & Clinics segment to grow at a high rate during the forecast period
Based on end-users, the India patient monitoring market is segregated into hospitals & clinics, home healthcare, and others. The hospitals & clinics segment is expected to grow at a high rate during the projected period owing to the facilities provided to the patients by hospitals and clinics. Moreover, the home healthcare segment is expected to be the fast-growing segment during the forecast period due to the availability of advanced devices and aging population.
Segments
The India patient monitoring market has been segmented on the basis of
Targeted Areas
- Respiratory
- Fetal & Neonatal
- Weight Monitoring
- Remote Monitoring
- Weight Management & Fitness Monitoring
- Cardiology
- Neurology
- Others
Product Types
- Cardiac Monitoring Devices
- Blood Glucose Monitoring Systems
- Multi-parameter Monitoring Devices
- Neuro-monitoring Device
- Respiratory Monitoring Device
- Others
End-users
- Hospitals & Clinics
- Home Healthcare
- Others
Country
Key Players
- GE Healthcare
- BPL Group
- Mindray Medical International Limited
- Nihon Kohden Corporation
- Koninklijke Philips NV
- Dragerwerk AG
- Spacelabs Healthcare
- Schiller
- Omron Healthcare, Inc.
- Life Plus Healthcare (P) Limited
Competitive Landscape
Key players competing in the India patient monitoring market are GE Healthcare; BPL Group; Mindray Medical International Limited; Nihon Kohden Corporation; Koninklijke Philips NV; Dragerwerk AG; Spacelabs Healthcare; Schiller; Omron Healthcare, Inc.; and Life Plus Healthcare (P) Limited.
The patient monitoring market in India is competitive and fragmented, with numerous significant competitors. Mergers, new product launches, acquisitions, and collaborations are among the strategic activities that the corporations are pursuing to boost their market positions. For instance, OMRON Healthcare India started a joint AI-based trial program in remote patient monitoring in India in August 2021. The program goal is to keep track of hypertension and electrocardiograms in individuals who have had ablation or surgery to treat cardiovascular problems.
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