According to the latest report by IMARC Group, titled “Vital Signs Monitoring Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global vital signs monitoring devices market size reached US$ 4.9 Billion in 2019. Vital signs monitoring devices are widely used to track different parameters of the body, such as the temperature, pulse rate, respiratory rate and blood pressure. These devices include blood pressure monitoring, pulse oximeters and temperature monitoring equipment, which help healthcare providers decide the line of treatment in case of an emergency. They also assist in continuously nursing patients in critical care units. Moreover, vital signs monitoring devices find application in pediatric care during the premature birth of the child and other health issues.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Vital Signs Monitoring Devices Market Trends:
The growing geriatric population, along with the rising prevalence of chronic diseases on account of sedentary lifestyles and the increasing consumption of fast food, represents one of the significant factors spurring the growth of the vital signs monitoring devices market. Apart from this, a considerable shift of treatment from hospitals to home to acquire a cost advantage and reduce hospital expenditure is offering new opportunities to home monitoring devices manufacturers. This can also be accredited to the increasing number of patients who prefer home-based care over hospitals on account of the associated convenience. Furthermore, the sudden outbreak of the coronavirus disease (COVID-19) has positively influenced the demand for these devices to determine the health status of patients, provide them with appropriate care and predict recovery. Besides this, technological advancements, such as health monitoring device integrations with Bluetooth, sensors and micro-electric technologies, are anticipated to fuel the market growth. Looking forward, the market value is projected to reach US$ 7.6 Billion by 2025, expanding at a CAGR of 7.60% during the forecast period (2020-2025).
- Based on the product type, the market has been segmented into BP monitoring devices (aneroid and automated BP monitors), pulse oximeters (tabletop/bedside, fingertip, handheld, wrist-worn and pediatric pulse-oximeters), temperature monitoring devices (temperature strips and mercury-filled, digital and infrared thermometers), and others.
- On the basis of the end user, the market has been segregated into hospitals and clinics, ambulatory surgery centers (ASCs), home care, and others.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, France, Germany, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being A&D Company, Limited, Contec Medical Systems Co. Ltd., GE Healthcare, Koninklijke Philips N.V., Masimo, Medtronic Plc, Nihon Kohden Corporation, Nonin Medical, Inc., Omron Healthcare, Inc. and Smiths Group Plc.
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