DUBLIN–(BUSINESS WIRE)–The “Global Vital Signs Monitoring Devices Market, by Product, by Application, by End-user, Estimation & Forecast, 2017-2030” report has been added to ResearchAndMarkets.com’s offering.
The global vital signs monitoring devices market held a market value of USD 4,960.0 Million in 2021 and is estimated to reach USD 8,126.0 Million by the year 2030. The market is projected to list a CAGR of 5.8% during the forecast period.
The vital signs monitoring devices industry is projected to grow at a substantial rate owing to the increasing incidences of chronic and acute diseases, and the rising innovations in area. Moreover, the rising elderly population around the globe contributes substantially towards the rise in the growth rate of the vital signs monitoring devices market. For instance, according to the World Health Organization (WHO), the geriatric population worldwide (aged 60 years and above) is projected to reach around 2 Billion by 2050. Thus, such actions contribute towards the growth rate.
The increasing launches of novel devices and its cost effectiveness is also boosting the market growth. The increasing product launches is a lucrative opportunity for the market growth, and is anticipated to contribute significantly for the growth of the vital signs monitoring devices marketspace.
Growth Influencers:
Increasing incidence rate of chronic diseases
The increasing incidence rates and prevalence of diseases such as CVD, neurological disorders, and cancer are creating huge demand for the adoption of vital signs monitoring systems which in turn increases the demand for advanced system which allows healthcare provider to decrease the time taken and assist in providing treatment at an appropriate time.
For instance, according to the World Health Organization, the major diseases that lead to the most deaths from noncommunicable diseases (NCDs) are cardiovascular diseases, cancers, respiratory diseases and diabetes, accounting for more than 80% of all premature NCD deaths. Thus, such statistics aid the demand and growth of the market.
Technological advancement and innovation of new devices
The increase in point of care devices that are accessible to patients from all age groups is driving the market growth. For instance, in April 2021, A&D Company launched a new product in response to the international standard ISO80369 series, home-use brachial blood pressure monitor “A & D Plus series “. Thus, such innovative product launches propel the market growth.
The global vital signs monitoring devices market report answers questions such as:
- What is the market size and forecast of the global vital signs monitoring devices market?
- What are the inhibiting factors and impact of COVID-19 on the global vital signs monitoring devices market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global vital signs monitoring devices market?
- What is the competitive strategic window for opportunities in the global vital signs monitoring devices market?
- What are the technology trends and regulatory frameworks in the global vital signs monitoring devices market?
- What is the market share of the leading players in the global vital signs monitoring devices market?
- What modes and strategic moves are considered favorable for entering the global vital signs monitoring devices market?
Segments Overview:
The global vital signs monitoring devices market is segmented into measuring parameters, application, form factor and end user.
By Measuring Parameters
- Oxygen
- Blood Pressure
- Temperature
- ECG
- Carbon dioxide
- Respiratory
- Heart Rate
- Blood Glucose
- Cardiac output
- Others
The oxygen segment is projected to hold the highest growth rate of 7% over the forecast period. Moreover, the blood pressure segment held the largest market share of more than 25% in 2021. In addition to that, the ECG segment is estimated to cross the mark of USD 1,000 Million revenue by 2028.
By Application
- Intensive Care
- Veterinary
- Ambulatory
- Emergency
- Clinical
- Transport
- Anesthesia
- Others
The intensive care segment is anticipated to grow at the highest CAGR of 6.7% owing to the increased applications of vital sign monitors in this setting. In addition to that, the ambulatory segment is estimated to hold an opportunity of more than USD 700 Million during 2021 to 2030. Moreover, the transport segment is projected to cross the mark of USD 500 Million revenue by 2024.
By Form Factor
- Portable
- Handheld
- Wearable
- Compact (Tabletop)
- Modular
- Floor standing
- Tunnel
The portable segment held the largest market share of more than 30% in 2021, whereas the modular segment is projected to hold an opportunity of more than USD 750 Million during 2021-2030.
By End User
- Hospitals
- Clinics
- Ambulatory Centers
- Home Healthcare
- Veterinary Clinics
The ambulatory centers segment held the highest growth rate of 6.6% over the forecast period owing to the rise in ambulatory services, and the usage of top-notch vital sign monitors in ambulances.
Companies Mentioned
- A&D Company Ltd.
- Clarity Medical Pvt. Ltd.
- Contec Medical Systems Co. Ltd
- DRE Inc.
- GE Healthcare
- Hill-Rom Holdings, Inc.
- Koninklijke Philips N.V.
- Masimo Corporation, Mediaid, Inc.
- Medtronic plc.
- Nihon Kohden Corporation
- Nonin Medical Inc.
- Omron Healthcare
- Smiths Group plc.
- SunTech Medical, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/m7lydv
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