Global Vital Signs Monitoring Devices Market is valued approximately at USD 5.0 billion in 2019 and is anticipated to grow with a CAGR of more than 6.6% over the forecast period 2022-2031. Vital signs monitoring devices track and provide, relevant and accurate status of vital parameters of the body such as body temperature, respiratory rate, pulse rate, and blood pressure. Any changes in these parameters will guide healthcare provider to decide the line of treatment in case of an emergency. These devices continuously monitor patients in critical care units of hospitals and surgical centers such as pediatric care in case of premature birth of the child and other health issues.
Rising geriatric population, rise in the incidence of hospital admission, and increasing demand for portable monitoring devices are the few factors responsible for growth of the market over the forecast period. For instance: according to AgeingAsia.org, the number of individuals aged 60 and above were 11,988,000 in 2019 and is expected to rise by 29,841,000 in 2050. Also, the total percentage of population aged 60 and above were 12.3% in 2019 and is expected to rise by 27.2 % in 2050. Also, according to the United Nations, Department of Economic & Social Affairs, there were 703 million persons aged 65 years or over in the world in 2019 and is projected to double to 1.5 billion in 2050. However, the intrusive nature of advertisements and lack of awareness about these devices in low- and middle-income countries is the major factor restraining the growth of global Vital Signs Monitoring Devices market during the forecast period.
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The regional analysis of global Vital Signs Monitoring Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the the fast adoption of new technology, increasing aging population and demand for health monitoring devices at home as well as at clinics. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2022-2031.
Major market player included in this report are:
Hill-Rom Holdings, Inc.
Halma plc (SunTech Medical, Inc.)
Nonin Medical, Inc.
General Electric Company
Nihon Kohden Corporation
Koninklijke Philips N.V.
A&D Company, Limited Contec Medical System Co., Ltd
Smiths Group plc
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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