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Global Patient Tracking Devices Market Size, Trends & Analysis - Forecasts to 2026 By Component (Products [Smart Watches/ RFID Bands, Tracking Patches, Tracking Pendants/ IDs, Monitors/ Devices] and Software/Apps), By End User (Hospitals, Home Healthcare Settings, Old Age Homes and Other End Users), By Region (Europe, North America, MEA, Asia Pacific, CSA); Vendor Landscape, Company Market Share Analysis, End-User Landscape, and Competitor Analysis
Patient Tracking Devices Market Insights
The Patient Tracking Devices market will grow at a CAGR of ~18.5%. The patient tracking devices are a wearable sensor or monitor that tracks the patient’s movements and provide an interpreted data, which helps the user understand where the patient moves, how long does he/she sits, or sleeps, or if the patient has fallen. Such devices are extremely useful for the patients and geriatric public suffering from Dementia or Alzheimer’s disease, as patient tracking becomes of utmost importance. The data interpreted from the devices immediately sends an alarming signal to the user, nurses, or doctors for an immediate medical response as required. The data receiver on the other end can be a laptop, smartphone, or tablet with software or apps installed. Hence, the market will grow immensely because of the increasing cases of Dementia, Alzheimer’s, Geriatric patients, and immobile patients. Moreover, many health care providers in countries like the U.S., Germany, Australia, etc. have adopted this technology to lower the patient’s healthcare costs, reduced patient-location related complications, and promote patient-centric solutions. Moreover, the increasing trend of using the internet of things (IoT) with medical devices for the welfare of patients will help fuel the market growth.
Patient Tracking Devices Market: By Component
Based on the component of the Patient Tracking Devices, the market can be explained based on the products and software segments. The product segment includes smartwatches/ RFID bands, tracking patches, tracking pendants/ IDs, and monitors/ devices. The products segment will be the largest segment taking into consideration the availability of the advanced medical devices into the market, growing patient awareness regarding GPS in tracking patients residing at hospitals, old age homes, and other public areas, and rising incidence of dementia and Alzheimer’s cases which need close tracking of the patient due to loss of memory related to their names, homes, work, location, roads, etc.
Patient Tracking Devices Market: By End-User
Based on consumer analysis, the market can be bifurcated into hospitals, home settings, old aged homes, and other end users which include research industries, clinics, specialty centers, and surgical centers. The home healthcare settings segment will be the fastest-growing segment considering the factors of high availability of such innovative devices for public use, increasing geriatric population in European and Asian countries, high affordability, ease of use, and rising cases of dementia and Alzheimer’s amongst the patients residing home.
Patient Tracking Devices Market: By Region
The market is bifurcated into Asia-Pacific, NA, Europe, MEA, & CSA. North America will yield the highest revenue in this market. Awareness of advanced technology for tracking their loved ones, rising government interest in patient-centric care solutions, and increasing Alzheimer’s cases are the major factors to fuel the growth of this region. Moreover, the Asia-Pacific region will be the fastest-growing regional segment. The increasing public interest in lowering healthcare costs, reduced complications related to tracing a patient, and demand for a patient’s high-quality life will drive the market for APAC.
Patient Tracking Devices Market Share and Competitor Analysis
The main companies operating in this market are Sonitor, MOIO GmBH, Cerner, Centrak, erner, Patient Trak and Lumin Medical LLC, AngelSense, GTX Corporation, iTraq, Inc., MindMe, Location Based Technologies, Inc., Revolutionary Tracker LLC., Positioning Solutions AB, Patient Care Solution, Syntactics, Inc., Yepzon India and Digiteum among others. (Other companies include Zebra Technologies Corp., infsoft GmbH, ScienceSoft USA Corporation, iottag Australia, Advantech Co., Ltd., Pycube, and STANLEY Healthcare).
Please note: This is not an exhaustive list of companies profiled in the report.
In 2017, a Germany based company launched its product MOIO which is a soft, wearable sensor to track patients and provide data related to position signal, standing and sleeping position signals, GPS location, mobility data, fall signal, and temperature monitoring data.
Check the Press Release on Global Patient Tracking Devices Market Report
Patient Tracking Devices Market: By Component
Patient Tracking Devices Market: By End-User
Patient Tracking Devices Market: By Region
The global Patient Tracking Devices Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Patient Tracking Devices Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
![Global Patient Tracking Devices Market Size, Trends & Analysis - Forecasts to 2026 By Component (Products [Smart Watches/ RFID Bands, Tracking Patches, Tracking Pendants/ IDs, Monitors/ Devices] and Software/Apps), By End User (Hospitals, Home Healthcare Settings, Old Age Homes and Other End Users), By Region (Europe, North America, MEA, Asia Pacific, CSA); Vendor Landscape, Company Market Share Analysis, End-User Landscape, and Competitor Analysis](https://www.globalmarketestimates.com/images/cat/Healthcare.png)
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