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Vital Signs Monitoring Devices Market 2021 Analysis by Overview, Growth, Top Companies, Demand and Forecast to 2028

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Swapnil GVR
Vital Signs Monitoring Devices Market 2021 Analysis by Overview, Growth, Top Companies, Demand and Forecast to 2028

The global vital signs monitoring devices market size was valued at USD 6.88 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028. Constant innovation in products, increasing demand for home healthcare services, rising number of healthcare settings primarily hospitals, and growing prevalence of chronic disorders are the key factors responsible for the lucrative growth of the 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.

 

The rising global prevalence of lifestyle-associated chronic disorders is expected to positively impact market growth. With the increasing awareness, the demand for personalized and accurate vital signs monitoring devices is expected to grow lucratively in recent years. According to the Global Health Observatory data, in 2019, 71% of the deaths were due to non-communicable diseases (NCD). The major NCDs are cardiovascular diseases (CVD) that caused 45.0% of all NCD deaths, cancer that caused 22.0% of all NCD deaths, and chronic obstructive pulmonary disease (COPD) that caused 10.0% of all NCD deaths, and diabetes that caused 4.0% of all NCD deaths.

 

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Key Player Mentioned:

 

·       Koninklijke Philips N.V.

·       Medtronic

·       Nihon Kohden Corporation

·       GE Healthcare

·       Masimo

·       Omron Healthcare

·       Contec Medical Systems Co. Ltd.

·       A&D Company Ltd.

Product Segment Analysis:

 

·        Blood Pressure Monitors

·        Pulse Oximeters

·        Temperature Monitoring Devices

·        Others Vital Sign Monitors

In recent years, home healthcare services have evolved as an important end-user of 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. Additionally, countries like Japan and Sweden where the average lifespan of the population is higher also serve as a major segment for 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.

 

Regional Segment Analysis:

 

North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.

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New product developments, collaborations, regional expansion, and mergers are the key strategic initiatives undertaken by the market players. For instance, in May 2019, Mindray and Masimo entered into an agreement that includes the integration of Mindray devices with Masimo sensors i.e. Masimo SET.

 

The study objectives of this report are:

·        To research global status, future forecasts, growth opportunities, key markets and key players.

·        To present the market development in us, Europe and China.

·        To strategically profile the key players and comprehensively analyze their development plan and methods.

Key aspects covered in the report include:

1.The market size and industry growth rate of the global and regional market across various segments

2. The region or the sub-segment that is expected to drive the Vital Signs Monitoring Devices market in the forecast period 2021-2028

3. Key companies operating in the global Vital Signs Monitoring Devices market and their market share

4. The Factors that are estimated to drive the Vital Signs Monitoring Devices Market growth

5. Key opportunities in the Vital Signs Monitoring Devices market

6. Key technological advancements and market trends that shape the market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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