Overview
Vital signs monitoring devices are used in monitoring the vital signs of a person and prevent the individual’s death in case of dropping vitals. The global vital signs monitoring market report by Market Research Future (MRFR) has been collated and compiled by researchers backed by thorough primary and secondary research. It contains pertinent insights, drivers, and threats for the period of 2018 to 2023 (forecast period).
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Market Scope
The global vital signs monitoring market can showcase returns at a CAGR of 7.5% over the forecast period. Major factors driving market growth include changing lifestyles, prevalence of chronic diseases, and the large geriatric population. Emergence of wearables for monitoring health and its subsequent adoption in commercial healthcare settings is likely to bode well for the market. The marriage of latest technologies such as machine learning and artificial intelligence with vital devices for improving their performance will attract patient interest. Recently, Nihon Kohden launched a new tool which measures blood pressure, temperature, and blood oxygen levels in patients which will assist physicians in their diagnosis.
High costs of devices and stringent regulations pertaining to its approval may impede the global vital signs monitoring market growth.
Segmentation
The global vital signs monitoring market has been segmented into product, type, portability, end user and distribution channel. The market, on the basis of product, has been segmented into blood pressure monitoring devices, pulse oximeter, temperature monitoring devices, respiratory rate monitors and others.
The market, by type, has been segmented into integrated systems, non-integrated systems and others.
The market, by portability, has been segmented into standalone and portable. Standalone devices are expected to dominate the global vital signs monitoring market owing to high usage of these devices in healthcare settings for freeing up beds and reducing patient volume. Portable devices, on the other hand, are anticipated to be the fastest growing segment owing to rising preference of such devices in home healthcare.
The market, by end user, has been segmented into hospitals & clinics, ambulatory centers, home healthcare and others. Hospitals & clinics will command a hefty share of the global vital signs monitoring market owing to the rise of personalized healthcare, increasing numbers of the elderly, and medical tourism in developing economies.
The market, by distribution channel, has been segmented into hospital pharmacy, retail pharmacies, online websites and others.
Regional Analysis
The market has been segmented, by region, into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas can dominate the market owing to the large geriatric populace and a large budget for healthcare by governments in the region. According to the Population Reference Bureau of 2016, the population aged 65 and above in the U.S. can reach 98 million by 2060.
Europe has assumed the second position in the global vital signs monitoring market owing to changing lifestyles, various demographics, and demand for home healthcare.
APAC can register the fastest growth rate during the forecast period owing to massive demand for monitoring devices, the large geriatric populace, and high prevalence of chronic diseases.
Competitive Outlook
Smiths Medical, Medtronic, Omron Healthcare, Inc., CASMED, Natus Medical Incorporated, GENERAL ELECTRIC COMPANY, Masimo, Boston Scientific Corporation, SunTech Medical, Inc., Welch Allyn, Mindray DS USA, Inc., Spacelabs Healthcare, Siemens Healthcare Private Limited, Koninklijke Philips N.V., and Hicks Thermometers India Limited are some of the notable players profiled in the global structural adhesives market.
Industry News
A study conducted by LINK-HF outlining the effects of a wearable sensor by Vital Connect can detect strokes at a preventive stage in heart patients. It uses a data collection software and machine learning for predicting heart-failure hospitalizations.
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