According to the study undertaken by Astute Analytica the global vital signs monitoring devices market is anticipated to register a CAGR of 5.8% during the forecast period 2022-2030. The global vital signs monitoring devices market was valued at US$ 4,960.0 Million in 2021 and is forecasted to reach US$ 8,126.0 Million by 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.
The global vital signs monitoring devices market includes emergency support and care services in a medical setting, which can be used not only at clinics, but also at a patient’s home or at the site of medical emergency. The most significant healthcare trend witnessed shift of treatment from hospitals to home mainly for the convenience and cost-effectiveness it offers. Blood pressure cuff, glucometer, pulse oximeter, ECG + Stethoscope, wearables, thermometer and scale are the common remote patient monitoring devices. Moreover, vital sign monitoring has spread far beyond the realm of medicine and into many aspects of daily life. Originally, vital sign monitoring was done under careful medical supervision in hospitals and clinics.
Factor such as growth in demand for home care monitoring with the increasing ageing population and increasing incidence rate of chronic diseases drives the growth in the global vital signs monitoring devices market over the forecast period. Furthermore, technological advancement and innovation of new devices provide a lucrative opportunity for vital signs monitoring devices. However, the presence of counterfeit products and competitive pricing pressure restrict the market growth. In addition to this, 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.
Market Insights
Global Vital Signs Monitoring Devices Market Insights by Measuring Parameters
Based on measuring parameters, the market is segmented into oxygen, blood pressure, temperature, ECG, carbon dioxide, respiratory, heart rate, blood glucose, cardiac output, and others. The blood pressure segment holds the highest share in the global vital signs monitoring devices market in 2021. When the numbers displayed are too high, the arteries have a difficult time resisting blood flow, which makes the heart work extra hard. In addition, with the increasing awareness, patients nowadays are more aware and keeping eye on blood pressure as a precautionary or preventive measure. Whereas, the oxygen segment is anticipated to grow at the highest CAGR during the forecast period.
Global Vital Signs Monitoring Devices Market Insights by Application
Based on application, the global vital signs monitoring devices market is classified into intensive care, veterinary, ambulatory, emergency, clinical, transport, anesthesia, and others. 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. Moreover, the physiologic parameters currently displayed on ICU monitors include blood pressure, acquired from an arterial catheter and external pressure cuff, oxygen saturation of the blood, acquired from a pulse oximeter, heart rate, and respiratory rate, acquired from external transducers and the electrocardiogram waveform.
Global Vital Signs Monitoring Devices Market Insights by Form Factor
In terms of form factor, the global vital signs monitoring devices market is segmented into portable, compact (tabletop), modular, floor standing and tunnel. The portable segment holds the largest market share in 2021 and is also anticipated to project the highest CAGR over the forecast period owing to its increasing demand at busy and high-volume medical centers. Moreover, by using portable vital signs monitors for the patients, can save valuable time and also allows staff to move patients with ease.
Global Vital Signs Monitoring Devices Market Insights by End User
On the basis of end-users, the global vital signs monitoring devices market is segmented into hospitals, clinics, ambulatory centers, home healthcare, and veterinary clinics. The hospital segment dominated the vital signs monitoring devices market in 2021 as vital sign monitors are majorly used in hospitals in ICUs to provide information in numerical and waveform formats. Moreover, the ambulatory center segment is anticipated to grow at the highest CAGR over the forecast period.
Global Vital Signs Monitoring Devices Market Insights by Regional Outlook
By region, North America holds the largest market share in 2021 owing to an increase in incidences of lifestyle diseases such as diabetes or hypertension and infectious and respiratory diseases. Moreover, product launch and product development by various players in the region and favorable reimbursement policies boost the market growth. Furthermore, 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 in the region.
Recent Developments
Competitive Insight
Global vital signs monitoring devices market is highly competitive. Some of the key players operating in the market include 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.
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:
By Application segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:
By Form Factor segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:
By Region segment of the Global Vital Signs Monitoring Devices Market is sub-segmented into:
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