Market Size of Germany Patient Monitoring Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Germany Patient Monitoring Market Analysis
The Germany Patient Monitoring Market is expected to witness a CAGR of 6.4% during the forecast period (2022 - 2027).
The COVID-19 pandemic has significantly impacted market growth. The demand for wearable devices and patient monitoring devices has increased during the pandemic period as they allow contactless communication and tracking of medical conditions by clinicians. The spread and early diagnosis of COVID-19 can be determined through the remote monitoring of vital signs such as skin and body temperature, respiratory rate, pulse rate, heart rate, and blood oxygen level, which are related to COVID-19. This is anticipated to have a positive effect on the growth of the studied market. For instance, according to an article published by The Lancet Digital Health Journal, in April 2022, titled "Effectiveness and safety of pulse oximetry in remote patient monitoring of patients with COVID-19: a systematic review", it has been found that pulse oximetry is a practical method for determining whether patients need hospital treatment or may be safely handled at home by remotely monitoring their SpO2 levels. Hence, COVID-19 has impacted the market growth.
Certain factors that are propelling the market growth are the rising burden of chronic diseases due to lifestyle changes and the growing preference for home and patient monitoring.
The increasing prevalence of chronic diseases such as cardiovascular, cancer, diabetes, and neurodegenerative diseases among the population is expected to increase the demand for patient monitoring systems, thereby propelling market growth. For instance, according to GLOBOCAN, in 2020, there were around 628,519 new cancer cases in Germany, with 69,697 new cases of breast cancer, 67,959 prostate cancer, 64,804 lung cancer, 57,528 colorectum cancer, 35,147 bladder cancer, and 333,384 other cancers. Additionally, as stated by the Alzheimer's Association, in the year 2021, more than 1.6 million people in Germany were suffering from Alzheimer's Disease. Thus, the rising burden of chronic diseases is expected to increase the demand for patient monitoring devices such as glucometers, blood pressure machines, and others which are expected to augment the market growth.
Other factors, such as continuous product development and commercialization, and strengthening distribution channels of major product manufacturers are expected to aid the growth of the German patient monitoring market. For instance, in December 2021, Xiaomi launched Redmi Watch 2 Lite smartwatch in the European market, Germany for EUR 79. It supports several features, including tracking blood oxygen levels, steps taken, and heart rate. Also, in April 2020, Withings launched the latest sleep-tracking device, Sleep Analyzer, a mat that can be used to detect sleep apnea. The device analyzes sleep and snoring episodes by using its advanced sensors when placed underneath a mattress.
However, the high cost of technology is expected to hinder market growth over the forecast period.
