Global Handheld Multi-Parameter Monitoring Device Market Set For 7.9% Growth, Reaching $5 Billion By 2029

The Business Research Company's Global Handheld Multi-Parameter Monitoring Device Market Set For 7.9% Growth, Reaching $5 Billion By 2029

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Looking at recent data, the handheld multi-parameter monitoring device market size has been performing strongly. It is projected to grow from $3.41 billion in 2024 to $3.69 billion in 2025, with a compound annual growth rate CAGR of 8.2%. This growth in the historic period can be attributed to factors such as increasing prevalence of chronic diseases, rising demand for remote patient monitoring, growing adoption of wireless technology in healthcare, increasing geriatric population requiring continuous monitoring, and rising awareness about early disease detection and prevention.

What's In The Forecast For The Handheld Multi-Parameter Monitoring Device Market?

The handheld multi-parameter monitoring device market size is expected to see robust growth in the following years, ballooning to $5 billion in 2029 at a compound annual growth rate CAGR of 7.9%. Growth in the forecast period is linked to growing investment in healthcare infrastructure, increasing preference for portable and easy-to-use medical devices, rising integration of advanced analytics in monitoring devices, growing demand for real-time data in emergency and critical care, and increasing focus on personalized and home-based healthcare services. Major trends in the forecast period include advancements in wireless communication technologies, integration of artificial intelligence and machine learning, technology improvements in sensor accuracy and miniaturization, advancements in real-time data analytics and cloud connectivity, and integration of telemedicine platforms with monitoring devices.

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What Are The Major Factors Driving The Growth Of The Handheld Multi-Parameter Monitoring Device Market?

Rising demand for remote patient monitoring is seen as a significant driver propelling the growth of the handheld multi-parameter monitoring device market going forward. This rising demand is primarily due to the increasing prevalence of chronic diseases, as these conditions require continuous health tracking to manage symptoms, prevent complications, and reduce hospital visits. A handheld multi-parameter monitoring device supports remote patient monitoring by tracking key vital signs like heart rate, blood pressure, and oxygen levels. It thus enables early detection of health issues, continuous care for chronic conditions, and real-time data sharing with healthcare providers, all of which leads to improved patient convenience and reduced hospital visits.

Who Are The Key Players In The Handheld Multi-Parameter Monitoring Device Market?

Major companies operating in this handheld multi-parameter monitoring device market include Abbott Laboratories, Medtronic Public Limited Company, Becton Dickinson and Company, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Baxter International Inc., Omron Healthcare Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Masimo Corporation, Nihon Kohden Corporation, Lepu Medical Technology Beijing Co. Ltd., Qingdao Meditech Equipment Co. Ltd., Wuhan Zoncare Bio-Medical Electronics Co. Ltd., BPL Medical Technologies Pvt. Ltd., Schiller Healthcare India Pvt. Ltd., Allengers Medical Systems Limited, Contec Medical Systems Co. Ltd., aXcent medical GmbH, Jiangsu Yuyue Medical Instruments Co. Ltd., Genuine Medica Pvt. Ltd., Drx Laboratories.

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What Is The Latest In Market Trends Of Handheld Multi-Parameter Monitoring Device Market?

Companies in the sector are focusing on advancements in medical technology to enhance the accuracy, reliability, and real-time monitoring of vital signs, thereby enabling early detection of health issues. In July 2022, BUZUD, a Singapore-based manufacturer of healthcare solutions, launched its Multi-Parameter Monitor and PulseBit EX electrocardiogram tracker, which are advanced medical devices designed for both hospital and home use. These devices can monitor vital signs such as ECG, blood oxygen, heart rate, respiration rate, and body temperature in real-time and are noted for their portability, user-friendly interfaces, and high-accuracy measurements. They meet the increasing demand for accessible and continuous health tracking across diverse healthcare settings.

What Is The Market Segmentation For Handheld Multi-Parameter Monitoring Device Market?

This handheld multi-parameter monitoring device market is segmented as follows:

- By Device Type: Basic Vital Sign Monitors, Advanced Multi-Parameter Monitors, Fetal Monitors, Remote Patient Monitoring Devices RPM Devices
- By Connectivity: Wired Devices, Wireless Devices
- By Application: Intensive Care, Clinical Care, Ambulatory Care, Pediatric Care, Other Applications
- By End User: Hospitals, Ambulatory Surgical Centers, Homecare Settings, Other End Users

More detailed segmentation:

1 Basic Vital Sign Monitors include Pulse Oximeters, Blood Pressure Monitors, Thermometers, Glucose Monitors, Heart Rate Monitors.
2 Advanced Multi-Parameter Monitors comprise Electrocardiogram Monitors ECG Monitors, Capnography Monitors, Respiratory Rate Monitors, Blood Gas Analyzers, Hemoglobin Monitors.
3 Fetal Monitors consist of Doppler Fetal Monitors, Cardiotocography CTG Monitors, Fetal Heart Rate Monitors, Uterine Contraction Monitors.
4 Remote Patient Monitoring Devices RPM Devices encompass Wearable Health Trackers, Telehealth Monitoring Devices, Mobile Health mHealth Devices, Wireless Vital Sign Monitors.

What Does The Regional Overview Look Like In The Handheld Multi-Parameter Monitoring Device Market?

North America was the largest region in the handheld multi-parameter monitoring device market in 2024. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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