The report titled “Vital Signs Monitoring Devices Market: Growth, Future Prospects, and Competitive Analysis, 2017 -2025” offers strategic insights into the overall vital signs monitoring devices market along with the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of vital signs monitoring devices market segments based on product type, end consumers and different geographies further segmented by countries. Vital signs are the measurement of body’s most basic functions. Vital signs can be measured in a medical setting, at home or at the site of emergency. Vital sign monitoring devices could either be a standalone kind or a portable one.
For the purpose of this study, the global vital signs monitoring device market is segmented on the basis of product type and end users. Product type is further segmented into body temperature monitoring devices, respiratory rate monitoring devices & blood pressure monitoring devices. Body temperature monitoring devices is further segmented into digital thermometers, electronic ear thermometers, infrared thermometers, plastic strip thermometers, pacifier thermometer & glass and mercury thermometers. Respiratory monitoring devices is further segmented into pulse oximeter & radiometer (transcutaneous monitoring system). Blood pressure monitoring devices are further segmented into aneroid monitors, digital monitors & ambulatory monitors. End users are further segmented into hospitals, clinics, ambulatory surgical centers, homecare settings & other healthcare settings. Market size estimates and forecast for these segments for the period 2015 to 2025 are provided in terms of US$ Mn along with the respective compounded annual growth rates (CAGRs) for the period 2017 to 2025, considering 2016 as the base year.
The geographical segmentation of the global vital signs monitoring devices market comprised regions such as North America, Europe, Asia-Pacific, Latin America & Middle East and Africa. Each geographical region is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, Mexico, Saudi Arabia, South Africa, and other countries. Market size and forecast for these segments during 2015 to 2025 and their CAGRs for the period 2017 to 2025 are provided in this report.
The vital signs monitoring devices market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Welch Allyn, Omron Healthcare, Generation Guard, Vive, Ozeri, Panasonic, Gurin Product LLC., Medtronic, A&D Medical Inc., Contec Medical System Co. Ltd., GE Healthcare, Philips Healthcare, SunTech Medical Inc., Rossmax International Ltd., 7.14. Nonin Medical, Inc. & others.
In the year 2016, blood pressure monitoring device dominated the market due to increasing prevalence of cardiac disorders such as hypertension, cardiovascular disease and obesity. These devices are now developed with wireless functionalities which causes ease of use in homecare settings. People with increased risk for non-communicable diseases have also been using blood pressure monitoring devices as a preventive measure, thus capturing a major chunk of the vital signs monitoring device market. Pulse oximeter also grabbed a major share of the market owing to its development to more portable form. The fingertip pulse oximeter, due to its portable nature has shown an increased demand in the market resulting to increased profitability. The body temperature monitoring devices have gained majority share in terms of volume owing to its easy and predominant use in homecare settings. Digital thermometers have grabbed larger share due to ease of use and safety reasons when compared to mercury thermometers. An increase in prevalence of non-communicable diseases is seen and also the development of these devices are on rise along with further awareness of their use in lower-income nations; these factors would thus drive the growth for vital signs monitoring devices market in the near future.
Hospitals are the major end users for vital signs monitoring devices mainly attributed due to large patient pool and increased financial capabilities. The hospitals use portable and standalone devices, thus caters the use of all sort of devices. Hospitals tend to keep every essential monitors in every patient room and also have standby monitoring devices. The demand for vital signs monitoring devices in homecare settings are on a rise. Patients wish to take treatments, or post-operative recovery at their home. Home healthcare is cost-efficient compared to hospitals hence patients prefer it. Countries such as US and UK have also eased the reimbursement policies for these devices for home settings. As the prevalence for non-communicable diseases are on a rise, there could be an increase in demand for the home setting vital signs monitoring devices.
Among the various geographies considered, North America hold a predominant market share in the vital signs monitoring devices market. The catalyst that propel this market are constant rise in the geriatric population, rise in prevalence of chronic conditions such as hypertension, obesity, chronic obstructive pulmonary disorder and other non-communicable diseases, availability of advanced technologies for vital signs monitoring and provision of structured reimbursement policies for vital signs monitoring devices. Europe also accounts for a dominant position in the vital signs monitoring devices market which is accounted for factors such as rise in mortality rates due to non-communicable diseases thus creating a demand for preventive care, rise in demand for home-setting monitoring practices and availability of smart technologies for vital signs monitoring purpose which enables remote monitoring of the patients by respective physicians. In the forecast period, 2017-2025 Asia Pacific market is projected to grow at a faster rate. The major factors that drive this market are increase in accessibility and availability to the latest technologies, rise in prevalence of chronic conditions in middle income economies and slow but constant growth in the development of reimbursement policies.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Vital Signs Monitoring Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
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End Users
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
