Vital Signs Monitoring Devices Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global Vital Signs Monitoring Devices Market is estimated to witness a rise in revenue from US$ 4,960.0 Mn in 2021 to US$ 8,126.0 Mn by 2030. The market is registering a CAGR of 5.8% during the forecast period 2022-2030. Moreover, in terms of volume, the global vital signs monitoring devices market is expected to project a CAGR of 5.2% during the forecast period 2022-2030.

Vital signs monitoring devices provide a quantification of physiological functions that measures the basic medical indicators of health. Vital signs are used to measure the basic functions in humans such as pulse rate, body temperature, respiration rate, and blood pressure, it can record and store thousands of pieces of information. Moreover, advances in medical science and technology, medicine and public health, as well as increasing awareness of nutrition, and environmental and personal cleanliness, leads to a remarkable increase in worldwide life expectancy in recent decades. 

Market Dynamics

The major factor responsible for the growth of the global vital signs monitoring devices market includes growth in demand for home care monitoring with the increasing aging population and increasing incidence rate of chronic diseases. Remote real-time monitoring of a person's health can be utilized in order to detect relapses in diseases so that early medical intervention can be done. As a result, the focus is to create a smart healthcare monitoring system capable of remotely monitoring elderly people. Moreover, chronic diseases such as heart disease, diabetes, obesity, and asthma are on the rise as a result of modern lifestyles and eating habits combined with an aging population. Furthermore, technological advancement and innovation of new devices​ provide a lucrative opportunity in vital signs monitoring devices. However, the presence of counterfeit products and competitive pricing pressure restrict the market growth.

Report Summary

The study of the Global Vital Signs Monitoring Devices Market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the vital signs monitoring devices industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the Global Vital Signs Monitoring Devices Market across 15 Chapters and 224     . The report includes data presentation across 68 tables and 120 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein bargaining power of buyers and competitive rivalry is moderate.

The subsequent section provides details of the market analysis based on different segments such as measuring parameters, application, form factor, end-user, and region. The report includes a detailed study of the value chain of the industry. It includes raw material suppliers, manufacturers, distributor channels, and end-users. The report also covers extensively the key competitors in the market for Global vital signs monitoring devices. 

Impact of COVID-19 on Global Vital Signs Monitoring Devices Market 

The demand for vital sign monitoring devices such as blood pressure monitors, pulse oximeters, and temperature monitoring devices escalated drastically due to the COVID-19 pandemic in 2020. The necessary effective techniques for remotely monitoring the patients’ symptoms were the crucial parameters to be looked for in identifying the presence of the virus. Moreover, recent advances in Machine Learning (ML) and Deep Learning (DL) have strengthened the power of imaging techniques that can be used to remotely perform several tasks that previously required the physical presence of a medical professional. 

The COVID-19 pandemic has flooded the existing healthcare infrastructure in many parts of the world. However, the increasing adoption of online distribution channels is estimated to keep the pace of the market over the forecast period.

Common Remote Patient Monitoring Devices

• Blood Pressure cuff
• Glucometer
• Pulse Oximeter
• ECG + Stethoscope
• Wearables
• Thermometer
• Scale

Key Takeaways from the Global Vital Signs Monitoring Devices Market Report

• Based on measuring parameters, the blood pressure segment holds the highest share in the global vital signs monitoring devices market in 2021 due to the increasing BP monitoring due to the rapidly rising prevalence of hypertension. Whereas, the oxygen segment is anticipated to grow at the highest CAGR during the forecast period.
• In terms of application, the intensive care segment held the largest share in the market in 2021 and is expected to grow at the highest CAGR during the forecast period. Monitors which are currently in use in intensive care units (ICUs) provide information in numerical and waveform formats.
• On the basis of form factor, the portable segment is estimated to hold the largest market share and highest CAGR over the forecast period. Moreover, using portable vital signs monitors for the patients can save valuable time and allows staff to move patients with ease.
• Based on end-user, the hospital segment dominated the vital signs monitoring devices market in 2021 owing to their large patient pool and greater financing capability for these devices. Moreover, the ambulatory center segment is anticipated to grow at the highest CAGR over the forecast period as portable monitoring devices hold the highest market share and are expected to grow at a faster rate. Also, it limits the risks of infection, disconnection incidents, etc.
• By region, North America is the predominant region and accounted for the largest share of the vital signs monitoring devices market in 2021. The growing geriatric populace, rising occurrences of interminable disorders, and technological advancement with streamlined coverage policies are the key factors that drive the regional market. Moreover, Asia Pacific is expected to project the highest CAGR over the forecast period owing to its high population base, high disposable incomes, and advanced monitoring devices.

Competitive Landscape

The key players in the Global Vital Signs Monitoring Devices Market are A&D Company Limited, Clarity Medical, CONTEC Medical Systems Co., Ltd., DRE Medical, GE Healthcare, Hill-Rom Holdings, Inc., Koninklijke Philips, Masimo Corporation, Mediaid, Inc., Medtronic PLC, Nihon Kohden Corporation, Nonin Medical Inc., Omron Corporation, Smiths Group plc. and SunTech Medical Inc. among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on an emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview 

Global Vital Signs Monitoring Devices Market is segmented based on measuring parameters, application, form factor, end-user, and region. The industry trends in the global vital signs monitoring devices market are sub-divided into different categories in order to get a holistic view of the global marketplace. 

Following are the different segments of the Global Vital Signs Monitoring Devices Market:

By Measuring Parameters segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:

• Oxygen
• Blood Pressure
• Temperature
• ECG
• Carbon dioxide
• Respiratory
• Heart Rate
• Blood Glucose
• Cardiac output
• Others

By Application segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:

• Intensive Care
• Veterinary
• Ambulatory
• Emergency
• Clinical
• Transport
• Anesthesia
• Others

By Form Factor segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:

• Portable
  • Handheld
  • Wearable
• Compact (Tabletop)
• Modular
• Floor standing
• Tunnel

By End User segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:

• Hospitals
• Clinics
• Ambulatory Centers
• Home Healthcare
• Veterinary Clinics

By Region segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of Latin America