The global Vital Signs Monitoring Devices market size is expected to be worth around US$ 25.6 billion by 2030, according to a new report by Vision Research Reports.
The global Vital Signs Monitoring Devices market size was valued at US$ 6.88 billion in 2020 and is anticipated to grow at a CAGR of 8.11% during forecast period 2021 to 2030.
The growing prevalence of lifestyle-associated chronic conditions and rising demand for advanced monitoring devices in developing countries, such as China, India, Thailand, and Brazil, are some of the major factors driving the market. The availability of monitoring systems at competitive prices and increasing disposable income are expected to fuel the market growth during the forecast period.
The introduction of advanced, integrated vital signs monitoring solutions and the growing trend of the usage of these devices in settings as well as all-time wearable devices for chronic patients are some of the factors expected to drive the market during the forecast period.
Blood pressure monitors emerged as the largest product segment in the market in 2020 due to the increasing incidence of hypertension and rising demand for blood pressure monitors designed for personal use. The hospitals' end-use segment dominated the market in 2020 due to the factors such as a large patient pool, financing capability, and requirement of vital signs monitors in bulk.
The demand for vital signs monitoring devices escalated due to the outbreak of COVID as a daily measurement of the vital sign can serve as an early detection system for the infection. These devices can also provide facility-based surveillance for healthcare-associated infections, including infections in healthcare workers and patients, which is one of the vital components of COVID-19 infection prevention and control measures. The use of vital signs monitoring for in-home settings also saw a surge w.r.t maintaining patient and provider safety while also allowing real-time access to vital signs via Cloud Portals.
Blood pressure monitors (sphygmomanometer) held the largest share of more than 30.0% in 2020 and are anticipated to witness healthy growth over the forecast period. This can be attributed to the increasing BP monitoring due to the rapidly rising prevalence of hypertension. Additionally, with the increasing awareness, patients today are keeping an eye on blood pressure as a precautionary or preventive measure. This has further led to an increase in the demand for self-operational digital blood pressure monitors.
held the second-largest share in 2020. These are further sub-segmented into table-top/ bedside, fingertip, hand-held, wrist-worn, pediatric pulse oximeters, and their accessories. Fingertip pulse oximeters are likely to witness lucrative growth as these devices are portable, wireless, and offer more patient compliance.
Temperature monitoring devices are categorized into digital thermometers, mercury-filled thermometers, infrared thermometers, liquid crystal thermometers, and temperature monitoring device accessories. Mercury is considered to be hazardous to the environment and the patients in case of accidental breakage in the body cavity. This leads to innovation in this product segment to reduce the risk of mercury, giving rise to digital thermometers that could measure the temperature of the patient more accurately and safely due to the absence of mercury.
Hospitals held the largest share of 28.6% in 2020. This can be attributed to their large patient pool and greater financing capability for these devices. These devices can now be connected to a comprehensive platform through software, wherein hospital staff can easily monitor patient’s vital signs in a single dashboard. Hospitals require all categories of vital sign monitors. They require these devices in large quantities as vital sign monitors are required in each room, nurse’s station, operation theater, emergency room, outpatient clinics, and in the hospital’s ambulatory services.
The home healthcare end-use segment is likely to witness significant growth over the forecast period as patients are preferring to take treatment, have a post-surgical recovery, and avail long-term care. The option of home healthcare is cost-efficient compared to the hospital stay. Additionally, developed countries such as the U.S. and the U.K. have streamlined policies for the reimbursement of home healthcare medical devices, including vital signs monitoring devices. Thus, as the disease burden of NCDs is increasing, there may be an increase in the demand for these devices for the home healthcare sector.
North America emerged as the predominant regional market in 2020 with a share of 42.4%. Expanding geriatric population, rising occurrences of interminable disorders, developing interest for remote and wireless devices, and streamlined coverage policies are the key factors driving the regional market.
Europe, particularly the Western European nations, held the second-largest share in 2020. This is attributed to the higher death rate and rising demand for cost-efficient treatment. The market in Asia Pacific is likely to witness the fastest growth over the forecast period. This can be attributed to the extensive unmet needs in this region including primary healthcare, especially in the developing markets such as India and China. Moreover, rising medical tourism and improving the healthcare sector in this region have a lot to offer for the market players over the forecast period.
Koninklijke Philips N.V.
Nihon Kohden Corporation
Contec Medical Systems Co. Ltd.
A&D Company Ltd.
Nonin Medical Inc.
SunTech Medical, Inc.
Product Outlook (Revenue, USD Million, 2016 - 2028)
Blood Pressure Monitors
Mercury Blood Pressure Monitors
Aneroid Blood Pressure Monitors
Digital Blood Pressure Monitor
Ambulatory Blood Pressure Monitors
Blood Pressure Instrument Accessories
Table-Top/Bedside Pulse Oximeters
Fingertip Pulse Oximeter
Hand-Held Pulse Oximeters
Wrist-Worn Pulse Oximeters
Pediatric Pulse Oximeters
Pulse Oximeter Accessories
Temperature Monitoring Devices
Mercury Filled Thermometers
Liquid Crystal Thermometer
Temperature Monitoring Device Accessories
Others Vital Sign Monitors
End-use Outlook (Revenue, USD Million, 2016 - 2028)
Emergency Care Centers
Other Healthcare Settings
Regional Outlook (Revenue, USD Million, 2016 - 2028)
The Vital Signs Monitoring Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Vital Signs Monitoring Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Vital Signs Monitoring Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Vital Signs Monitoring Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Vital Signs Monitoring Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Vital Signs Monitoring Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Vital Signs Monitoring Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Vital Signs Monitoring Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Vital Signs Monitoring Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Vital Signs Monitoring Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Vital Signs Monitoring Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Vital Signs Monitoring Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Vital Signs Monitoring Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Vital Signs Monitoring Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Vital Signs Monitoring Devices market. These factors have benefited the growth of the global market for Vital Signs Monitoring Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Vital Signs Monitoring Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Vital Signs Monitoring Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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