Vital Signs Monitoring Devices Market Growth & Trends [2031]
Vital Signs Monitoring Devices Market Growth & Trends [2031]
Segments - Vital Signs Monitoring Devices Market by End-users (Home Healthcare, Ambulatory Centers, Hospitals, Physician Office, Emergency Care Centers, and Other Healthcare Settings), Products (Temperature Monitoring Devices [Liquid Crystal Thermometer, Digital Thermometers, Mercury Filled Thermometers, Infrared Thermometers, and Temperature Monitoring Device Accessories], Pulse Oximeters [Pediatric Pulse Oximeters, Hand-held Pulse Oximeters, Fingertip Pulse Oximeter, Table-top/Bedside Pulse Oximeters, Wrist-worn Pulse Oximeters, and Pulse Oximeter Accessories], Blood Pressure Monitors [Digital Blood Pressure Monitor, Aneroid Blood Pressure Monitors, Mercury Blood Pressure Monitors, Ambulatory Blood Pressure Monitors, and Blood Pressure Instrument Accessories], and Other Vital Sign Monitors), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :HC-3684
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| 210 Pages
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Report Description
The global vital signs monitoring devices market size was valued at USD 6.85 billion in 2020 and is projected to reach USD 15.56 billion by 2028, expanding at a CAGR of 8.8 % during the forecast period, 2021–2028. The growth of the market is attributed to the growing prevalence of chronic disorders and increasing demand for home healthcare services.
Vital signs are an aspect of health sign that indicates how well the body's vital or life-sustaining functions are working. These measurements are collected to diagnose potential disorders, assess a person's physical well-being, and track recovery progress. Systems for monitoring vital signs have gradually become a significant aspect of today's healthcare system. Vital signs monitoring systems are progressively being employed in various end-users such as hospitals, ambulatory surgery centers, and clinics as a result of significant technological improvements.
In order to assess the physical functioning of the body, vital signs monitoring devices measure breathing rate, temperature, heart rate, and blood pressure. These devices are increasingly employed in operating rooms, emergency rooms, and intensive care units as part of patient monitoring. The latest advances in vital sign monitoring systems are wearable patches and watches.
The impact of COVID-19 pandemic has been positive on the vital signs monitoring devices market. During the pandemic, demand for devices increased to diagnose and control the spread of infection. The demand is expected to remain the same during the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Rising number of healthcare settings, primarily in hospitals is expected to boost the market growth in the coming years.
- Increasing number of innovations across the product category is one of the key factors driving the market growth.
- Growing demand for personalized healthcare is projected to boost the market expansion during the forecast period.
- High costs associated with certain products present a major challenge. This is anticipated to hamper the market growth in the projected period.
- Demand for accurate vital signs monitoring devices is projected to create significant growth opportunities for the market in the near future.
Scope of Vital Signs Monitoring Devices Market Report
The report on the global vital signs monitoring devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Vital Signs Monitoring Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
End-users (Home Healthcare, Ambulatory Centers, Hospitals, Physician Office, Emergency Care Centers, and Other Healthcare Settings) and Products (Temperature Monitoring Devices [Liquid Crystal Thermometer, Digital Thermometers, Mercury Filled Thermometers, Infrared Thermometers, and Temperature Monitoring Device Accessories], Pulse Oximeters [Pediatric Pulse Oximeters, Hand-held Pulse Oximeters, Fingertip Pulse Oximeter, Table-top/Bedside Pulse Oximeters, Wrist-worn Pulse Oximeters, and Pulse Oximeter Accessories], Blood Pressure Monitors [Digital Blood Pressure Monitor, Aneroid Blood Pressure Monitors, Mercury Blood Pressure Monitors, Ambulatory Blood Pressure Monitors, and Blood Pressure Instrument Accessories], and Other Vital Sign Monitors) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
SunTech Medical, Inc.; A&D Co., Ltd.; Omron Healthcare; Nihon Kohden Corp.; Koninklijke Philips N.V.; Medtronic plc; GE Healthcare; Masimo; Contec Medical Systems Co., Ltd.; and Nonin Medical, Inc. |
Vital Signs Monitoring Devices Market Segment Insights
Hospitals segment to grow at a rapid pace
Based on end-users, the global vital signs monitoring devices market is segregated into home healthcare, ambulatory centers, hospitals, physician office, emergency care centers, and other healthcare settings. The hospitals segment is expected to grow at a rapid pace during the forecast period owing to greater financing capability of vital signs monitoring devices and their large patient pool. However, the home healthcare segment is anticipated to hold a key share of the market in the coming years as patients are preferring to have a post-surgical recovery, take treatment, and avail long-term care.
Blood pressure monitors segment to expand at a considerable CAGR
On the basis of products, the market is segmented into temperature monitoring devices, pulse oximeters, blood pressure monitors, and other vital sign monitors. The temperature monitoring devices segment is further divided into liquid crystal thermometer, digital thermometers, mercury filled thermometers, infrared thermometers, and temperature monitoring device accessories. The pulse oximeter segment is sub-categorized as pediatric pulse oximeters, hand-held pulse oximeters, fingertip pulse oximeter, table-top/bedside pulse oximeters, wrist-worn pulse oximeters, and pulse oximeter accessories, while the blood pressure monitors segment consists of digital blood pressure monitor, aneroid blood pressure monitors, mercury blood pressure monitors, ambulatory blood pressure monitors, and blood pressure instrument accessories.
The blood pressure monitors segment is projected to expand at a considerable CAGR during the forecast period attributed to the growing blood pressure monitoring due to the significantly rising prevalence of hypertension. Moreover, the patients are now keeping a closer check on their blood pressure as a preventative or precautionary step, which is further expected to drive the segment growth.
North America to constitute a key market share
In terms of regions, the global vital signs monitoring devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to developing interest for remote and wireless devices, rising occurrences of interminable disorders, expanding geriatric population, and streamlined coverage policies in the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to improving the healthcare sector and rising medical tourism across this region.
Segments
The global vital signs monitoring devices market has been segmented on the basis of
End-users
- Home Healthcare
- Ambulatory Centers
- Hospitals
- Physician Office
- Emergency Care Centers
- Other Healthcare Settings
Products
- Temperature Monitoring Devices
- Liquid Crystal Thermometer
- Digital Thermometers
- Mercury Filled Thermometers
- Infrared Thermometers
- Temperature Monitoring Device Accessories
- Pulse Oximeters
- Pediatric Pulse Oximeters
- Hand-held Pulse Oximeters
- Fingertip Pulse Oximeter
- Table-top/Bedside Pulse Oximeters
- Wrist-worn Pulse Oximeters
- Pulse Oximeter Accessories
- Blood Pressure Monitors
- Digital Blood Pressure Monitor
- Aneroid Blood Pressure Monitors
- Mercury Blood Pressure Monitors
- Ambulatory Blood Pressure Monitors
- Blood Pressure Instrument Accessories
- Other Vital Sign Monitors
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- SunTech Medical, Inc.
- A&D Co., Ltd.
- Omron Healthcare
- Nihon Kohden Corp.
- Koninklijke Philips N.V.
- Medtronic plc
- GE Healthcare
- Masimo
- Contec Medical Systems Co., Ltd.
- Nonin Medical, Inc.
Competitive Landscape
Key players competing in the global vital signs monitoring devices market are SunTech Medical, Inc.; A&D Co., Ltd.; Omron Healthcare; Nihon Kohden Corp.; Koninklijke Philips N.V.; Medtronic plc; GE Healthcare; Masimo; Contec Medical Systems Co., Ltd.; and Nonin Medical, Inc. As part of their efforts to expand their client base and acquire competitiveness over competitors, manufacturers in the market have opted for numerous strategic initiatives, such as partnerships, collaborations, and mergers and acquisitions. Furthermore, companies are emphasizing their investments in R&D for the creation and introduction of new products in attempt to preserve their competitiveness in the market.
For instance, in May 2019, Mindray and Masimo agreed to work together under an agreement to integrate Masimo sensors with Mindray devices, such as the Masimo SET. This compliance also helped Masimo to expand the presence of their devices globally.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Vital Signs Monitoring Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vital Signs Monitoring Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vital Signs Monitoring Devices Market - Supply Chain
4.5. Global Vital Signs Monitoring Devices Market Forecast
4.5.1. Vital Signs Monitoring Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vital Signs Monitoring Devices Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Vital Signs Monitoring Devices Market Absolute $ Opportunity
5. Global Vital Signs Monitoring Devices Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Vital Signs Monitoring Devices Market Size and Volume Forecast by End Users
5.3.1. Home Healthcare Ambulatory Centers Hospitals Physician Office Emergency Care Centers Other Healthcare Settings
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Vital Signs Monitoring Devices Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Vital Signs Monitoring Devices Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Vital Signs Monitoring Devices Demand Share Forecast, 2019-2026
7. North America Vital Signs Monitoring Devices Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Vital Signs Monitoring Devices Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Vital Signs Monitoring Devices Market Size and Volume Forecast by End Users
7.4.1. Home Healthcare Ambulatory Centers Hospitals Physician Office Emergency Care Centers Other Healthcare Settings
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Vital Signs Monitoring Devices Demand Share Forecast, 2019-2026
8. Latin America Vital Signs Monitoring Devices Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Vital Signs Monitoring Devices Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Vital Signs Monitoring Devices Market Size and Volume Forecast by End Users
8.4.1. Home Healthcare Ambulatory Centers Hospitals Physician Office Emergency Care Centers Other Healthcare Settings
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Vital Signs Monitoring Devices Demand Share Forecast, 2019-2026
9. Europe Vital Signs Monitoring Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Vital Signs Monitoring Devices Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Vital Signs Monitoring Devices Market Size and Volume Forecast by End Users
9.4.1. Home Healthcare Ambulatory Centers Hospitals Physician Office Emergency Care Centers Other Healthcare Settings
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Vital Signs Monitoring Devices Demand Share Forecast, 2019-2026
10. Asia Pacific Vital Signs Monitoring Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Vital Signs Monitoring Devices Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Vital Signs Monitoring Devices Market Size and Volume Forecast by End Users
10.4.1. Home Healthcare Ambulatory Centers Hospitals Physician Office Emergency Care Centers Other Healthcare Settings
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Vital Signs Monitoring Devices Demand Share Forecast, 2019-2026
11. Middle East & Africa Vital Signs Monitoring Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Vital Signs Monitoring Devices Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Vital Signs Monitoring Devices Market Size and Volume Forecast by End Users
11.4.1. Home Healthcare Ambulatory Centers Hospitals Physician Office Emergency Care Centers Other Healthcare Settings
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Vital Signs Monitoring Devices Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Vital Signs Monitoring Devices Market: Market Share Analysis
12.2. Vital Signs Monitoring Devices Distributors and Customers
12.3. Vital Signs Monitoring Devices Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. SunTech Medical, Inc. A&D Co., Ltd. Omron Healthcare Nihon Kohden Corp. Koninklijke Philips N.V. Medtronic plc
Methodology
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