Singapore Patient Monitoring Market Insights Forecasts to 2033

• The Singapore Patient Monitoring Market Size was valued at USD 620.5 Million in 2023.
• The Market Size is Growing at a CAGR of 7.09% from 2023 to 2033
• The Singapore Patient Monitoring Market Size is Expected to reach USD 1230.5 Million by 2033

The Singapore Patient Monitoring Market Size is anticipated to Exceed USD 1230.5 Million by 2033, Growing at a CAGR of 7.09% from 2023 to 2033. The increasing aging population and awareness & adoption of patient monitoring devices are driving the growth of the patient monitoring market in Singapore.      

Market Overview

Patient monitoring refers to the use of technology for managing, monitoring, and treating patients illness. The elderly population's growth, the increasing burden of chronic diseases brought on by lifestyle changes, the growing desire for home and remote monitoring, and the convenience of portable devices are all factors contributing to the patient monitoring market expansion. The incorporation of AI with intelligent sensors and wearable for continuous patient monitoring and tracking of vital signs, activity levels, sleep patterns, and other health indicators are offering lucrative market growth opportunities for patient monitoring. Further, the introduction of a personalized approach as per individual factors including medical conditions, genome, needs, values, and circumstances is escalating the patient monitoring market growth.     

Report Coverage

This research report categorizes the market for the Singapore patient monitoring market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore patient monitoring market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore patient monitoring market.

Driving Factors

The growing emphasis on the rising need for home-based healthcare services by employing robots in elder care is promoting the patient monitoring market. The integration of electronic health records (EHRs), emphasis on patient-centric solutions, and personalized patient care are the factors that are driving the patient monitoring market. The growing geriatric population, and the prevalence of chronic diseases including diabetes, hypertension, and cardiovascular diseases are driving the market demand. Further, the increasing use of next-generation technologies like artificial intelligence is contributing to escalating market growth.

Restraining Factors

The high cost of patient monitoring devices limits its adoption resulting in restraining the market growth. Further, the unpleasant user experience, limited technological literacy, and data interoperability & security issues are challenging the Singapore patient monitoring market.

Market Segmentation

The Singapore Patient Monitoring Market share is classified into product and end use.

• The blood glucose monitoring devices segment is anticipated to hold the largest market share during the forecast period.

The Singapore patient monitoring market is segmented by product into cardiac monitoring devices, blood glucose monitoring devices, multi-parameter monitoring devices, respiratory monitoring devices, temperature monitoring devices, fetal & neonatal monitoring devices, neuromonitoring devices, weight monitoring devices, and others. Among these, the blood glucose monitoring devices segment is anticipated to hold the largest market share during the forecast period. Blood glucose monitoring devices include glucometers, continuous glucose monitors, and pulse oximeters. The introduction of technologically advanced devices including continuous glucose monitoring (CGM) which provide a less invasive and convenient approach are driving the market growth.  

• The hospitals segment dominated the Singapore patient monitoring market with the largest market share in 2023.       

Based on the end use, the Singapore patient monitoring market is divided into hospitals, ambulatory surgery centers, home care settings, and others. Among these, the hospitals segment dominated the Singapore patient monitoring market with the largest market share in 2023. In hospitals, patient’s vital signs are continuously measured with the help of doctors and nurses to provide the best patient care. The rising number of hospitalized patients due to injuries, chronic diseases, or other conditions driving the market demand for patient monitoring.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore patient monitoring market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Medtronic Plc
• Koninklijke Philips N.V.
• GE Healthcare
• Siemens Healthineers
• Nihon Kohden Corporation
• Abbott Laboratories
• Masimo Corporation
• Hill-Rom Holdings, Inc.
• Biotronik SE & Co. KG
• Honeywell International, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2024, Aevice Health, a leading provider of remote monitoring solutions for chronic respiratory disease management, raised $7 million Seed Plus Round led by Coronet Ventures, the Singapore-based venture unit of Cedars-Sinai Intellectual Property (CSIP) Co.

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Patient Monitoring Market based on the below-mentioned segments:

Singapore Patient Monitoring Market, By Product

• Cardiac Monitoring Devices
• Blood Glucose Monitoring Devices
• Multi-Parameter Monitoring Devices
• Respiratory Monitoring Devices
• Temperature Monitoring Devices
• Fetal & Neonatal Monitoring Devices
• Neuromonitoring Devices
• Weight Monitoring Devices
• Others

Singapore Patient Monitoring Market, By End Use

• Hospitals
• Ambulatory Surgery Centers
• Home Care Settings
• Others