Global Vital Signs Monitoring Market Segmentation, By Product Type (Temperature Monitoring Devices, Blood Pressure Monitors, Pulse Oximeters), End Use (Hospitals, Physician’s Office, Home Healthcare, Ambulatory Centers, Emergency Care Centers, Others) – Industry Trends and Forecast to 2031.
Vital Signs Monitoring Market Analysis
Devices used to monitor a patient's vital signs are referred to as vital signs monitoring devices. This comprises tools for tracking various vital indicators, such as blood pressure, body temperature, pulse rate, and respiration rate, such as pulse oximeters, thermometers, and temperature monitors. These compact, reliable, portable devices can be set up in residential buildings, hospitals, and other emergency medical situations. They can also be used to check one's own health and make an early illness diagnosis by keeping an eye on activity and fitness levels.
Vital Signs Monitoring Market Size
Global vital signs monitoring market size was valued at USD 9.90 billion in 2023 and is projected to reach USD 17.40 billion by 2031, with a CAGR of 7.30% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Vital Signs Monitoring Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Medtronic (Ireland), Boston Scientific Corporation (U.S.), Natus Medical Incorporation (U.S.), Koninklijke Philips N.V. (Netherlands), Smiths Group Plc (U.K.), GENERAL ELECTRONIC (U.S.), Masimo (U.S.), CONTEC MEDICAL SYSTEMS CO. LTD. (China), A & D Company Limited (Japan), NIHON KOHDEN CORPORATION (Japan), Nonin (U.S.), SunTech Medical, Inc. (U.S.), Welch Allyn (U.S.), Dragerwerk AG & Co. KGaA (Germany), Briggs Healthcare (U.S.), OSI Systems Inc. (U.S.), Shenzen Mindray Bio-Medical Electronics Co, Ltd. (China)
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Market Opportunities
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Vital Signs Monitoring Market Definition
Devices that track vital indicators, such as the body's temperature, pulse rate, respiration rate, and blood pressure, are frequently utilised. These tools, such as blood pressure monitors, pulse oximeters, and temperature gauges, aid medical professionals in determining the best course of action in an emergency. Additionally, they help with round-the-clock nursing of patients in critical care units. Vital signs monitoring equipment is also used in pediatric treatment for children who were born prematurely and for other medical conditions.
Vital Signs Monitoring Market Dynamics
Drivers
- Increasing prevalence of chronic diseases
Growing elderly population and rising prevalence of chronic diseases are key market growth drivers, while rising need for proactive monitoring and home healthcare will fuel market growth. Additionally, the market's demand has grown due to a growth in COVID-19 instances, while technical advancements and the invention of new technologies will open up profitable business chances.
- Rising number of healthcare facilities
The main rising number of healthcare facilities influencing this market's profitable expansion include rising prevalence of chronic illnesses, rising number of healthcare facilities, particularly hospitals, rising demand for home healthcare services, and constant product innovation. In a short period, distinct devices measuring Blood Pressure (BP), pulse, and temperature gave way to combined all-in-one devices for vital sign monitoring. Additionally, there have been more advancements in this product category, which is promoting market expansion.
- Rise in geriatric patients
Major factors influencing the market are the rise in geriatric patients, the need for individualized healthcare, the penetration rate of medical insurance, and the burgeoning medical tourism industry in developing nations. These are the factors which propelling the growth of market.
Opportunities
Vital sign monitoring essentially acts as a communication tool about patient status because it quantifies physiological functions employed for monitoring acute and chronic disorders, driving the market expansion.
Restraints/Challenges
However, the availability of fake goods and the unreliability of some monitoring tools are limiting factors for the market, but disruption in the distribution network brought by the COVID-19 lockout would make it difficult for the market to recover.
This vital signs monitoring market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vital signs monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Vital Signs Monitoring Market
As constant monitoring of vital signs like temperature, respiration rate, pulse rate, etc. can prove to be an effective infection-detection strategy for patients afflicted with the virus, the COVID-19 pandemic has unsurprisingly increased demand for vital signs monitoring devices. With the necessity of patient-provider safety in mind, the adoption of vital sign monitoring devices for at-home settings and the need for wearable monitoring devices have increased. Wearable device users may receive notifications when changes in their measurements match those linked to COVID-19 when used in conjunction with predictive platforms.
Vital Signs Monitoring Market Scope
The vital signs monitoring market is segmented on the basis of product type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Temperature Monitoring Devices
- Blood Pressure Monitors
- Pulse Oximeters
End Use
- Hospitals
- Physician’s Office
- Home Healthcare
- Ambulatory Centers
- Emergency Care Centers
- Others
Vital Signs Monitoring Market Regional Analysis
The vital signs monitoring market is analysed and market size insights and trends are provided by country, product type and end-user as referenced above.
The countries covered in the vital signs monitoring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate market share due to rising incidence of chronic diseases interminable diseases, and increasing geriatric population.
Asia-Pacific is likely to develop at the fastest growth rate over the forecast period due to the extensive unmet needs in this region including primary healthcare, especially in the developing markets.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The global vital signs monitoring market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global vital signs monitoring market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global vital signs monitoring market. The data is available for historic period 2010-2020.
Vital Signs Monitoring Market Share
The vital signs monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vital signs monitoring market.
Vital Signs Monitoring Market Leaders Operating in the Market Are:
- Medtronic (Ireland)
- Boston Scientific Corporation (U.S.)
- Natus Medical Incorporation (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Smiths Group Plc (U.K.)
- GENERAL ELECTRONIC (U.S.)
- Masimo (U.S.)
- CONTEC MEDICAL SYSTEMS CO. LTD. (China)
- A & D Company Limited (Japan)
- NIHON KOHDEN CORPORATION (Japan)
- Nonin (U.S.)
- SunTech Medical, Inc. (U.S.)
- Welch Allyn (U.S.)
- Dragerwerk AG & Co. KGaA (Germany)
- Briggs Healthcare (U.S.)
- OSI Systems Inc. (U.S.)
- Shenzen Mindray Bio-Medical Electronics Co, Ltd. (China)
Latest Developments in Vital Signs Monitoring Market
- In April 2022, In order to integrate BioIntelliSense's FDA-cleared BioSticker and BioButton wearable medical devices and data services with Anelto's RemoteCareLive! RPM platform, BioIntelliSense and Anelto entered into a partnership. BioIntelliSense is a continuous health monitoring and clinical intelligence company
- In March 2022, Alder Hey Children's NHS Foundation Trust and digital health company Isansys Lifecare joined forces to enhance at-home patient monitoring and lessen the burden on the healthcare system
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