Vital Signs Monitoring Systems Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global vital signs monitoring systems market size is projected to surpass US$ 12 Bn by 2028 and is expected to grow at a CAGR of 5.23% from 2021 to 2028.

Vital signs are indicators of the body’s ability to maintain homeostasis. Temperature, pulse, blood pressure, and respiration are considered to be vital signs because these are used to measure some of the body’s vital functions and provide information about a patient’s physical well-being. These also help in monitoring or detecting medical problems. Vital signs can be measured in medical emergency, home care settings, and medical settings. Vital signs monitors help to continuously measure multiple vital signs including temperature, ECG, non-invasive blood pressure, and SpO2. Wearable patch and watch are the recent innovations in vital signs monitoring system. Introduction of new products by key players is anticipated to drive the global vital signs monitoring systems market. For instance, in January 2017, Masimo launched the Rad-97 Pulse-CO Oximeter in India. Furthermore, growth of the global vital signs monitoring systems market can be attributed due to increase in number of patients with chronic cardiovascular and respiratory diseases. For instance, prevalence of COPD is increasing in countries such as India and others in Asia Pacific. An article published by Elsevier Ltd. stated that chronic respiratory diseases, COPD and asthma accounted for 10.9%, 8.7%, and 7.9% deaths, respectively, in India in 2016.

North America dominated the global vital signs monitoring systems market in 2020 and the trend is anticipated to continue during the forecast period. Early adoption of technologically advanced products is likely to fuel the growth of the market in the region. The market in Asia Pacific is projected to expand at a strong CAGR from 2021 to 2028 owing to rise in prevalence chronic diseases due to changes in lifestyle and unhealthy diet. An article published in the International Journal of Chronic Obstructive Pulmonary Diseases stated that prevalence of COPD is higher in men than women in China and the estimated diagnosed rate of COPD varies from 24% to 30%.

Adoption of Technologically Advanced Products

  • Rise in awareness about telemedicine is anticipated to drive the global vital signs monitoring systems market during the forecast period. Moreover, increase in demand for technologically advanced products due to benefits over traditional ones is expected to fuel the growth of the global vital signs monitoring systems market. Companies are investing in the development of advanced products in order to improve treatment. VitalConnect offers the VitalPatch health monitoring device. In December 2017, VitalConnect secured the U.S. Food and Drug Administration clearance for the patient monitoring device. This clearance extended the wear duration for VitalPatch.
  • Rise in prevalence of chronic diseases among geriatric population is likely to propel the growth of the global vital signs monitoring systems market 

Easy Availability of Bench-top Products

In terms of modality, the global vital signs monitoring systems market has been divided into bench-top, handheld, and wearable. The bench-top segment accounted for major share of the global vital signs monitoring systems market in 2020, owing to easy availability of products. The wearable segment accounted for significant share of the market in 2020. It is anticipated to grow at a rapid pace during the forecast period. Innovation in wearable medical technology is expected to drive the segment.

High Demand for Connected Devices-based Vital Signs Monitoring Systems

Based on technology, the global vital signs monitoring systems market has been bifurcated into connected devices and conventional. The connected devices segment dominated the global vital signs monitoring systems market in 2020. In November 2016, Hill-Rom Services, Inc. announced that its subsidiary, Welch Allyn, entered into the connected home monitoring market along with Home Hypertension Program. The conventional segment accounted for significant share of the global vital signs monitoring systems market in 2020. Growth of the segment can be attributed to emergence of telemedicine.

Consoles to Account for Major Share of Global Market

In terms of component, the global vital signs monitoring systems market has been segmented into consoles, accessories & consumables, and apps/software. The consoles segment dominated the global vital signs monitoring systems market in 2020. The apps/software segment is likely to grow at a rapid pace during the forecast period owing to rise in use of Internet of Things in healthcare applications.

Rise in Prevalence of Cardiovascular Diseases to Fuel Market Growth

Based on product, the global vital signs monitoring systems market has been divided into cardiovascular, blood pressure monitoring, body temperature, pulse oximetry, capnography, and respiratory rate. The cardiovascular segment has been bifurcated into ECG and heart rate. The cardiovascular segment dominated the global vital signs monitoring systems market in 2020. Rise in prevalence of cardiovascular diseases and reimbursement support for vital signs monitors are the factors projected to drive the segment. The ECG sub-segment accounted for major share of the cardiovascular segment in 2020. The sub-segment is anticipated to grow at a rapid pace during the forecast period. The pulse oximetry segment held significant share of the global vital signs monitoring systems market in 2020. The segment is expected to expand at a moderate CAGR from 2019 to 2027. The FDA approval for pulse oximeters offered by key players is likely to fuel the growth of the segment. In January 2019, Masimo received the FDA clearance for Rad-97 Pulse CO-Oximeter.

Hospitals to be Major End User

In terms of end user, the global vital signs monitoring systems market has been segmented into hospitals, home care, ambulatory surgical centers, and others. The hospitals segment dominated the global vital signs monitoring systems market in 2020 and the trend is projected to continue during the forecast period. Rise in rate of hospitalization for chronic diseases is anticipated to drive the segment.

Prominent Regions

North America accounted for major share of the global vital signs monitoring systems market in 2020. Product launch & approvals and presence of key players are expected to boost the growth of the vital signs monitoring systems market in the region during the forecast period. In January 2020, Koninklijke Philips N.V. launched IntelliVue X3, next generation patient monitoring solution, in the U.S. IntelliVue X3 is a dual purpose monitor and highly portable with intuitive smartphone-style operation. Moreover, rise in prevalence of cardiovascular diseases is anticipated to fuel the growth of the vital signs monitoring systems market in North America. According to Canada Statistics, estimated incidence of high blood pressure is 90%, and hypertension affects almost 1 in 4 adults in Canada. In 2020, an estimated 5,360,000 people had high blood pressure in Canada.

Europe held the second largest share of the global vital signs monitoring systems market in 2020. Growth of the market in the region is attributed to adoption of integrated technology and rise in prevalence of chronic diseases. In March 2017, Masimo announced the CE Mark for Rad-97 Pulse CO-Oximeter for non-invasive blood pressure measurement. According to the British Lung Foundation, an estimated 8,028,741 people were living with asthma in the U.K. in 2013.

Asia Pacific held significant share of the global vital signs monitoring systems market in 2020. The market in the region is expected to grow at a rapid pace during the forecast period. Growth of the market in Asia Pacific is attributed to increase in the geriatric population. Moreover, surge in awareness about telemedicine is likely to accelerate the growth of the vital signs monitoring systems market in the region.

Competitive Landscape

Key players are expanding their footprint to strengthen their positions in the global vital signs monitoring systems market. For instance, in May 2017, Masimo announced partnership with Midmark Corporation to improve the efficiency and accuracy of vital signs monitors. This enabled the company to increase interaction of health care professionals and patients and enhance the outcomes at the point-of-care. Increase in focus of industry players on investment in developing regions to expand business is expected to augment the global vital signs monitoring systems market in the next few years.

Prominent players operating in the global vital signs monitoring systems market are Medtronic, Welch Allyn (Hill-Rom Services Inc.), GE Healthcare (General Electric Company), Koninklijke Philips N.V., OMRON Corporation, VitalConnect, Infinium Medical, Masimo, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and BioBeat.

Market Segmentation

By Modality

  • Bench-top
  • Handheld
  • Wearable

By Technology

  • Connected Devices
  • Conventional Technology

By Component

  • Consoles
  • Accessories & Consumables
  • Apps/Software           

By Product

  • Cardiovascular
    • ECG
    • Heart Rate
  • Blood Pressure Monitoring
  • Body Temperature
  • Pulse Oximetry
  • Capnography
  • Respiratory Rate

By End User

  • Hospitals
  • Home Care
  • Ambulatory Surgical Centers
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific          
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Israel
    • Rest of Middle East & Africa

Report Scope

The Vital signs monitoring systems  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 systems  market for the base year 2020 and the forecast between 2021 and 2028. 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 systems  market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Vital signs monitoring systems  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 systems  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 systems  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 systems  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 systems  market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. 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 systems  market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Vital signs monitoring systems  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 systems  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.

Vital signs monitoring systems  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 systems  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 systems  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 systems  market. These factors have benefited the growth of the global market for Vital signs monitoring systems . 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 systems . 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 systems  are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

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

Research Methodology:

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

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.

Primary Sources

 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:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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