Transformative Growth in Patient Monitoring Equipment Market Expected by 2031

2025-05-02 transformation

Global, Friday, 2 May 2025.
The increasing demand for managing chronic diseases and advancements in technology is driving the market growth for patient monitoring equipment, led by key players Philips, Medtronic, and GE Healthcare.

Market Leaders and Technology Integration

The patient monitoring equipment landscape is experiencing significant transformation, with industry leaders establishing clear market positions. Philips Healthcare maintains leadership in multi-parameter vital signs monitoring and fetal monitoring, while Medtronic holds the second position with strength in remote patient monitoring. GE Healthcare rounds out the top three with robust offerings in blood pressure and electrocardiogram monitoring [1]. This competitive landscape is being reshaped by artificial intelligence integration, as demonstrated by recent innovations like iRhythm’s Zio® ECG Recording and Analysis System, which achieves 99% patient compliance and analyzable data quality [6].

Strategic Acquisitions and Market Expansion

Major industry developments are accelerating market consolidation. BD’s acquisition of Critical Care from Edwards Lifesciences, completed on April 30, 2025, has led to the formation of BD Advanced Patient Monitoring [3]. This strategic move comes as the company reported a 4.5% revenue increase to $5.3 billion in the second quarter of fiscal 2025 [3]. The market evolution is further evidenced by emerging players like Senzime, which has achieved 3,500 installations in operating rooms globally, backed by 105 approved patents [2].

Innovation and Startup Ecosystem

The sector is witnessing a surge in innovative solutions from emerging companies. Notable developments include Impedia’s smartwatch utilizing bioimpedance technology for non-invasive blood pressure monitoring, and ALOE’s AI-powered ultrasound device for rotator cuff injury monitoring [4]. In the startup space, companies like Vena Vitals are developing low-cost continuous blood pressure monitoring solutions, while Mecha Health is automating x-ray analysis using advanced AI models [5].

Future Market Trajectory

Market maturation varies by region, with North America and Western Europe showing signs of market saturation, primarily driven by replacement sales rather than new installations [1]. However, the integration of AI and machine learning in patient monitoring systems continues to create new opportunities [3]. The industry is particularly focused on remote monitoring solutions, as demonstrated by recent clinical studies integrating established hemodynamic monitoring devices with emerging technologies [7].

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patient monitoring market growth