糖心vlog传媒

logo

Australia Patient Monitoring Market Size (2024 - 2029)

The Australia Patient Monitoring Market is experiencing significant expansion, driven by technological advancements, a growing patient population, and a more flexible regulatory environment. The market's growth is further propelled by the increasing prevalence of chronic diseases and an aging population, which heightens the demand for monitoring systems. The COVID-19 pandemic has also positively influenced market dynamics, as remote monitoring became more prevalent. Despite these growth factors, challenges such as resistance from healthcare professionals and inadequate reimbursement policies are hindering the market's full potential.

Home Market Analysis Healthcare Research Medical Devices Research Diagnostic Devices Research Clinical Diagnostic Devices Research Monitoring Devices Research Remote Patient Monitoring Industry in Australia Market Size

Market Size of Australia Patient Monitoring Industry

CAGR
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.23 Billion
Market Size (2029) USD 1.74 Billion
CAGR (2024 - 2029) 7.21 %
Market Concentration Medium

Major Players

rd-img

*Disclaimer: Major Players sorted in no particular order

Australia Patient Monitoring Market Analysis

The Australia Patient Monitoring Market size is estimated at USD 1.23 billion in 2024, and is expected to reach USD 1.74 billion by 2029, growing at a CAGR of 7.21% during the forecast period (2024-2029).

COVID-19 is expected to impact positively on the growth of the market in Australia. According to the article titled ' Virtual Health Care for Community Management of Patients with COVID-19 in Australia: Observational Cohort Study' published in March 2021, 81.5% of patients were monitored remotely. Thus, the sudden outbreak of COVID-19 is expected to drive the growth of the market during the forecast period.

Australia's market for patient monitoring devices is witnessing rapid growth in recent times. This is due to the advances on the technological forefront, larger patient pool, and lenient regulatory framework. Other key factors boosting the market growth are an increase in the chronic disease population and a rise in the aging population. According to data published by the Australian Government's Department of Health in September 2021, cardiovascular diseases account for 27% of all deaths in Australia. Approximately 1.2 million Australians suffer from one or more cardiac or vascular diseases. According to the estimates of the Global Cancer Observatory, in 2020, there were an estimated 200,021 new cancer cases diagnosed and 48,236 cancer deaths in Australia. According to the Australian Institutes of Health and welfare 2020 report estimated that in 2020 there were between 400,000 and 459,000 Australians with dementia, with Alzheimer's disease accounting for up to 70% of diagnosed cases. Alzheimer's dementia is the most common type of dementia that occurs in Australia. Therefore the growing burden of such diseases is expected to increase the demand for monitoring systems in the market during the forecast period.

However, the resistance from the healthcare industry professionals towards the adoption of the patient monitoring systems and lack of proper reimbursement policies is restraining the market growth

Australia Patient Monitoring Industry Segmentation

As per the scope of this report, patient monitoring devices are monitoring devices that continuously monitor the patient's vital parameters, like blood pressure and heart rates, by using a medical monitor and collecting medical (and other) data from individuals. The Australia Patient Monitoring Market is segmented by Type of Devices (Hemodynamic Monitoring Devices, Neuromonitoring Devices, Cardiac Monitoring, Multi-parameter Monitors, Respiratory Monitoring Devices, Remote Patient Monitoring Devices and Other Types of Devices), Application (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management and Fitness Monitoring, and Other Applications), End-User ( Home Healthcare, Hospitals and Clinics and Other End Users). The report offers the value (in USD million) for the above segments.

By Type of Device
Hemodynamic Monitoring Devices
Neuromonitoring Devices
Cardiac Monitoring Devices
Multi-parameter Monitors
Respiratory Monitoring Devices
Remote Patient Monitoring Devices
Other Types of Devices
By Application
Cardiology
Neurology
Respiratory
Fetal and Neonatal
Weight Management and Fitness Monitoring
Other Applications
By End Users
Home Healthcare
Hospitals and Clinics
Other End Users
Need A Different Region Or Segment?
Customize Now

Australia Patient Monitoring Market Size Summary

The Australian patient monitoring market is experiencing significant growth, driven by technological advancements, a larger patient base, and a supportive regulatory environment. The market is further bolstered by the increasing prevalence of chronic diseases and an aging population. The impact of COVID-19 has also been a catalyst for market expansion, as remote monitoring became a necessity, highlighting the importance of patient monitoring systems. The rising incidence of cardiovascular diseases, cancer, and dementia in Australia underscores the growing demand for these systems. However, challenges such as resistance from healthcare professionals and inadequate reimbursement policies pose obstacles to market growth.

The adoption of sedentary lifestyles among Australians has led to a surge in chronic conditions like obesity, diabetes, and cardiovascular diseases, thereby increasing the need for patient monitoring solutions. Government initiatives aimed at weight management and lifestyle changes are expected to further drive market growth. The competitive landscape is characterized by the presence of major international and local players, including Baxter International Inc., Nihon Kohden Corporation, and Medtronic, among others. Recent developments, such as the launch of digital health programs by companies like MDLIVE and Omron Healthcare, indicate a trend towards integrating digital solutions for monitoring chronic health conditions, contributing to the market's expansion during the forecast period.

Explore More

Australia Patient Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes

      2. 1.2.2 Growing Preference for Home and Remote Monitoring

    3. 1.3 Market Restraints

      1. 1.3.1 Resistance from the Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Type of Device

      1. 2.1.1 Hemodynamic Monitoring Devices

      2. 2.1.2 Neuromonitoring Devices

      3. 2.1.3 Cardiac Monitoring Devices

      4. 2.1.4 Multi-parameter Monitors

      5. 2.1.5 Respiratory Monitoring Devices

      6. 2.1.6 Remote Patient Monitoring Devices

      7. 2.1.7 Other Types of Devices

    2. 2.2 By Application

      1. 2.2.1 Cardiology

      2. 2.2.2 Neurology

      3. 2.2.3 Respiratory

      4. 2.2.4 Fetal and Neonatal

      5. 2.2.5 Weight Management and Fitness Monitoring

      6. 2.2.6 Other Applications

    3. 2.3 By End Users

      1. 2.3.1 Home Healthcare

      2. 2.3.2 Hospitals and Clinics

      3. 2.3.3 Other End Users

Australia Patient Monitoring Market Size FAQs

The Australia Patient Monitoring Market size is expected to reach USD 1.23 billion in 2024 and grow at a CAGR of 7.21% to reach USD 1.74 billion by 2029.

In 2024, the Australia Patient Monitoring Market size is expected to reach USD 1.23 billion.

Australia Patient Monitoring Market Report Snapshots

Australia Patient Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)