Vital Signs Monitoring Devices Industry Overview
The global vital signs monitoring devices market size was valued at USD 8.6 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030
Constant innovation in products, increasing demand for home healthcare services, rising number of healthcare settings, primarily hospitals, and rising prevalence of chronic disorders are the key drivers responsible for the lucrative growth of this market. Vital signs monitoring devices have evolved over a short duration of time from individual devices measuring Blood Pressure (BP), pulse, and temperature to a combined all-in-one device. In addition, there has been a rise in the number of innovations in this product category, which is fueling market growth.
Gather more insights about the market drivers, restrains and growth of the Global Vital Signs Monitoring Devices Market
The demand for vital sign monitoring devices like blood pressure monitors, pulse oximeters, and temperature monitoring devices escalated drastically due to the onset of the COVID-19 pandemic in 2020 as these were the crucial parameters to be looked for in identifying the presence of the virus. As per Sharp Health News, around 103 million people in the U.S. suffer from hypertension and as COVID-19 has been reported dangerous for people with heart disease and related conditions, especially high blood pressure, the demand for BP monitoring devices increased, and still witnesses growth. Other key factors driving the market include increasing demand for personalized healthcare, a growing number of geriatric patients, rising penetration of medical insurance, and blooming medical tourism in developing countries.
Medical tourism is in the steep growth phase in countries, such as Singapore, Canada, Costa Rica, Ecuador, India, Israel, Jordan, Malaysia, Mexico, Singapore, South Korea, Taiwan, Thailand, and Turkey. These countries are the key regional markets. The rising global prevalence of lifestyle-associated chronic disorders is expected to positively impact the market growth. With increasing awareness, the demand for personalized and accurate devices is expected to grow over the coming years. According to the Global Health Observatory data, in 2019, 71% of the deaths were due to Non-communicable Diseases (NCDs).
The major NCDs are Cardiovascular Diseases (CVDs), which caused 45.0% of all NCD deaths; cancer caused 22.0% of all NCD deaths; Chronic Obstructive Pulmonary Disease (COPD) caused 10.0% of all NCD deaths, and diabetes caused 4.0% of all NCD deaths. In recent years, home healthcare services have evolved as important end-user for these devices. Home healthcare offers long-term care at a comparatively lower cost than hospitals. The largest market segment of nursing and assisted living homes is in the U.S. and the U.K. In addition, countries like Japan and Sweden where the average lifespan of the population is higher also serve as a major segment of assisted living homes. These markets are therefore expected to be some potentially important regions for vital sign monitors.
The demand for these products is expected to be more in these regions as the market is likely to include a significant contribution from the higher numbers of assisted living homes. The COVID-19 pandemic has unsurprisingly escalated the demand for vital signs monitoring devices as continuous measurement of vital signs like temperature, respiration rate, pulse rate, etc. can prove to be an efficient infection-detection system for people infected with the virus. The use of vital signs monitoring devices for at-home settings and the demand for wearable monitoring devices have increased keeping in mind the importance of patient-provider safety. When used in conjunction with predictive platforms, users of wearable devices could be alerted when changes in their metrics match those associated with COVID-19.
Moreover, the FDA facilitated to increase in the availability and capability of patient monitoring devices due to the pandemic and also stated that modified use of such devices may increase access to important patient physiological data without the need for in-clinic visits and facilitate patient management by health care providers while reducing the need for in-office or in-hospital services during the COVID-19 public health emergency. Patient monitoring device manufacturers like Nihon Kohden, Phillips, and Masimo have also reported an increase in the global sales of patient monitoring devices with an average of 30% during the pandemic. These aforementioned factors played a crucial role in increasing the demand for vital signs monitoring devices during the pandemic.
Browse through Grand View Research's Medical Devices Industry Research Reports.
- Spirometer Market - The global spirometer market size was valued at USD 955.8 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.13% from 2022 to 2030.
- Rhinoplasty Market - The global rhinoplasty market size was valued at USD 5.1 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 8.9% during the forecast period.
- Sternal Closure Systems Market - The global sternal closure systems market size was estimated to be valued at USD 2.39 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030.
Vital Signs Monitoring Devices Market Segmentation
Grand View Research has segmented the global vital signs monitoring devices market on the basis of product, end use, and region:
- Vital Signs Monitoring Devices Product Outlook (Revenue, USD Million, 2018 - 2030)
- Blood Pressure Monitors
- Pulse Oximeters
- Temperature Monitoring Devices
- Other Vital Sign Monitors
- Vital Signs Monitoring Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Physician’s Office
- Home Healthcare
- Ambulatory Centers
- Emergency Care Centers
- Other Healthcare Settings
- Vital Signs Monitoring Devices Regional Outlook (Revenue, USD Million, 2018- 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- February 2021: Philips announced plans to acquire BioTelemetry, Inc. This acquisition is expected to aid Philips to increase its patient monitoring portfolio by adding BioTelemetry’s cardiac diagnostics and monitoring devices.
- January 2021: Mindray launched its new VS 9 and VS 8 Vital Signs Monitors, which are now available in Europe, Australia, and other selected regions.
Key Companies profiled:
Some prominent players in the Vital Signs Monitoring Devices market include
- Koninklijke Philips N.V.
- Medtronic
- Nihon Kohden Corp.
- GE Healthcare
- Masimo
- Omron Healthcare
- Contec Medical Systems Co. Ltd.
- A&D Company Ltd.
- Nonin Medical, Inc.
- SunTech Medical, Inc.
Order a free sample PDF of the Vital Signs Monitoring Devices Market Intelligence Study, published by Grand View Research.
COVID-19 Impact Analysis on Vital Signs Monitoring Devices Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Vital Signs Monitoring Devices market include Welch Allyn, SunTech Medical, Inc., Nonin Medical Inc., Omron Corporation, Masimo Corporation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Vital Signs Monitoring Devices Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/vital-signs-monitoring-devices-market/download-sampleMarket DynamicsGrowing geriatric population and health awareness are predicted to drive the growth of the market.
Many diseases can be diagnosed and controlled through regular monitoring.
There is a huge group of people who suffer from some kind of chronic diseases such as diabetes or cardiovascular disease.
The Vital Signs Monitoring Devices Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Vital Signs Monitoring Devices market include Welch Allyn, SunTech Medical, Inc., Nonin Medical Inc., Omron Corporation, Masimo Corporation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Vital Signs Monitoring Devices Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/vital-signs-monitoring-devices-market/download-sampleMarket DynamicsGrowing geriatric population and health awareness are predicted to drive the growth of the market.
There is a huge group of people who suffer from some kind of chronic diseases such as diabetes or cardiovascular disease.
These devices include pulse sensors, connected glucometers such as the wireless blood glucometer by iHealth, or blood oxygen sensors.
The global vital signs monitoring devices market was valued at US$ 5.7 Bn in 2020, and is expected to exhibit a CAGR of 8.5% during the forecast period (2020-2030).
Moreover, it offers highly accurate estimations on the CAGR, market share, and market size of key regions and countries.
Players can use this study to explore untapped Vital Signs Monitoring Devices markets to extend their reach and create sales opportunities.Some of the key manufacturers operating in this market include - Philips, General Electric, Welch Allyn, Spacelabs Healthcare, Nihon Kohden Corporation, CAS Medical Systems, Smiths Group plc, Infinium Medical, Mindray Medical International Limited, Biolight, Creative Medical, ContecMedical Systems, and More…Vital Signs Monitoring Devices market competitive landscape offers data information and details by companies.
It provides a complete analysis and precise statistics on revenue by the major player's participants for the period.
The report also illustrates minute details in the Vital Signs Monitoring Devices market governing micro and macroeconomic factors that seem to have a dominant and long-term impact, directing the course of popular trends in the global Vital Signs Monitoring Devices market.
The report will account for Covid19 as a key market contributor.Download Sample Copy@ https://www.futuremarketinsights.com/reports/sample/rep-gb-410VITAL SIGNS MONITORING DEVICES MARKET TAXONOMY FMI’s study on the vital signs monitoring devices market offers information divided into four important segments - product, mount type, end-user, and region.
The global vital signs monitoring devices market size is anticipated to reach USD 9.1 billion by 2026, according to the new report of Radiant Insights, Inc., expanding at CAGR of 8.7% over the forecast period.
Availability of monitoring systems at competitive prices and increasing disposal income is expected to fuel the market growth during the forecast period.
Introduction of advanced, integrated vital signs monitoring solutions and growing trends of usage of these devices in home healthcare settings as well as all time wearable devices for chronic patients are some of the factors expected to drive the market during the forecast period.
Download Free Sample Report @ https://www.radiantinsights.com/research/vital-signs-monitoring-market/request-sample Blood pressure monitors is the largest segment in the vital sign’s devices market due to the increasing incidence of hypertension and increasing demand for blood pressure monitors designed for personal use.
Lack of skilled professional and demand for advanced methods for continuous and accurate patient monitoring solutions are expected to drive the segment growth.
Availability of integrated devices and patient monitoring suits specially designed for operating rooms are the factors expected to fuel the market in developed as well as developing countries.
The global vital signs monitoring devices market size was valued at USD 4.1 billion in 2016 and is expected to reach USD 7.1 billion by 2025, with a CAGR of 6.5%.
Vital signs monitoring devices are used in hospitals, ambulatory, clinics, surgical centers and home care settings.
The technology is specially designed for ill and aged population for whom the home healthcare is important.Increase in Gross Domestic Product per capita leads to increasing health care expenditure which drives the industry growth rate.
Some of the benefits of the monitoring devices are reduction in hospitalization rates, office follow ups.
Obesity is one of the major concern that people share due to unhealthy lifestyle, this results in hypertension.
The large number of ongoing innovations and projects, ease of use of medical devices, and growing capabilities & accuracy of such devices is expected to favorably impact market growth.Certain drawbacks in this market are issues in reimbursement, lack of awareness in the developing countries such as India, Brazil, Mexico, and high cost associated with these devices.
