Europe Patient Monitoring Market: Industry Analysis and Forecast (2024-2030)

Europe Patient Monitoring System Market Overview

A patient Monitoring System is defined as repeated or continuous observations or measurements of the patient, his or her physiological function, and the function of life support equipment, to guide management decisions, including when to make therapeutic interventions and assessment of those interventions.

Patient Monitoring solutions allow health providers to monitor the onset of disease and symptom progression remotely, engage with patients virtually to modify care plans, and provide education on self-care based on changes in the patient’s condition. Patient Monitoring solutions offer innovative technologies that support healthcare management such as Standalone medical measuring devices, Implantable devices, and Digital Platforms. Smartphones or wearables are increasingly contributing to more timely and accurate treatment of a variety of conditions.

European Society of Cardiology publishes recommendations on the EU Pharmaceutical Legislation Reform and urges for greater attention to cardiovascular research. Europe’s growing aged population has increased the incidence of fatal diseases (cardiovascular, diabetes, stroke) spurring the need for regular monitoring of patients' glucose levels and pioneering technology at considerably lower rates. Patient Monitoring has various benefits for end-users and hospitals, such as low cost of healthcare, reduction in extended hospitalization, and fewer doctor appointments, among others.

• In Europe, mortality rates in patients with heart failure are 11% and 41% at one year and five years of follow-up, respectively.
• According to Stellar Analysis, around 30% of the data volume is generated by the healthcare industry.

Europe Patient Monitoring System Market Dynamics

Factors Accelerating Growth of Patient Monitoring Systems in Europe

Surged in patients with unstable physiological regulatory systems has propelled the market growth of monitoring systems. The increased need for monitoring systems for patients who are at high risk of developing a life-threatening condition has accelerated the market growth. The growing number of patients who are in a critical physiological state has influenced the patient monitoring system in Europe. Patient Monitoring System enables mother and baby during the labor and delivery process resulting in a boost in the market.

The Europe Patient Monitoring System market has been driven by factors such as enhanced healthcare solutions, Cost-effectiveness, etc.  Reduction in costs of healthcare services, hospitalization rate, and hospital stays has influenced the market growth in Europe. Remote monitoring establishes a more fluid exchange of information between patients and healthcare professionals, resulting in a closer follow-up of patients’ conditions, as well as more accurate and timelier clinical and technical interventions. Raising awareness by encouraging broader use of RPM solutions has propelled the market. Support investment and accelerated coverage of RPM innovation through early funding.

Barriers to Growth in the European Patient Monitoring System Market

Interoperability challenges as well as data privacy and security aspects at the European level and gaps in health and digital literacy in healthcare professionals and patients have been factors impacting the patient monitoring system market. In the Patient Monitoring System data needs to be accurate and reliable to be used effectively to manage health conditions and catch problems early. Increasing threats of Hackers and other malicious to access sensitive patient information for a variety of malicious activities has been hindering the market growth.

Portable and wearable patient monitors are typically battery-powered, and for consumers, battery life is one of the key purchasing considerations. Battery life is critical because most patient monitors measure and monitor continuously. The development time for medical patient monitors is critical as time to market involves many standard lab tests and approvals.  The higher Cost of the advanced devices in the monitoring system has created barriers in the Patient Monitoring system.

Europe Patient Monitoring System Market Segment Analysis

Based on device Type, the Heart Monitors segment holds the highest share and is expected to grow at a CAGR of 7.06% during the forecast years. Heart monitors allow patients to continuously monitor irregular heartbeats that happen infrequently. The rise in the prevalence of heart failure has boosted the Europe heart monitors market. Wearable heart monitoring technologies possess significant utility for persons seeking to monitor their cardiovascular well–being to enhance physical fitness.

European Innovation Council has an accelerator's funding for medical devices that aims to foster the development and commercialization of innovative health technologies. European Heart monitors Manufacturers have been investing in heart monitor systems to make it effective for patients to use the devices. Many cardiovascular disease deaths are preventable and having the right policies in place to make healthy choices is of utmost importance.

• Cardiovascular disease (CVD) is the leading cause of death in Europe and costs the EU economy 282 billion euros per year.

Europe Patient Monitoring System Market Regional Analysis

Germany dominates the Europe Patient Monitoring System Market with the highest market share accounting for 32.3% in 2023, the region is expected to grow with a CAGR of 7.21% during the forecast period and maintain its dominance by 2030.  Factors that are propelling the market growth are the rising burden of chronic diseases owing to lifestyle changes and the growing preference for home and patient monitoring. Patient Monitoring System is potentially used to support diagnosis and screening. In Germany, physicians and psychotherapists have taken advantage of existing RPM solutions by offering unrestricted teleconsultation hours, enabling healthcare professionals to deal with a greater number of patients.

France is the fastest-growing country with market share and is expected to grow at a CAGR of 7.10 % during the forecast period. France became the first European country to reimburse remote monitoring for all eligible patients. The widespread use of RPM solutions has contributed to reducing the frequency of hospital admissions and lower healthcare costs, although large-scale studies of prolonged home monitoring with more extended follow-up are required. United Kingdom, Italy, Spain, Belgium, Sweden, and Australia emerge as a promising market for the Europe Patient Monitoring System industry and are driven by rising disposable income and heightened health awareness.

• In 2023, Around 150,000 French residents were being home monitored.

Europe Patient Monitoring System Market Competitive Landscape

• In August 2023, Acorai is building a first-of-its-kind device for non-invasive intracardiac pressure monitoring to improve heart failure management after having demonstrated promising results in their Swedish 350-patient Pilot Study. Acorai received a Breakthrough Device Designation from the FDA. This enables the company to interact with FDA experts to efficiently address topics arising during the premarket review phase and receive expedited reviews before their regulatory submission.
• In December 2023, Dräger significantly increased net sales by 13.1%  and profit in fiscal year 2023 and paid a significantly higher dividend. Dräger is an international leader in the fields of medical and safety technology.

Europe Patient Monitoring System Market Key Players

1. Drägerwerk AG & Co. KGaA (Germany)
2. Compumedics Limited (Australia)
3. Koninklijke Philips N.V. (Netherlands)
4. Getinge AB (Sweden)
5. BIOTRONIK (Germany)
6. SCHILLER (Switzerland)
7. GE Healthcare (United Kingdom)
8. Medtronic plc (Ireland)
9. Roche Diagnostics (Switzerland)
10. Biotronik SE & Co. KG (Germany)
11. Smiths Medical (United Kingdom)
12. Fresenius SE & Co. KGaA (Germany)
13. Getinge AB (Sweden)
14. Draeger Medical GmbH (Germany)
15. Acorai (Sweden)