According to the latest report by IMARC Group, titled, “Vital Signs Monitoring Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global vital signs monitoring devices market size reached US$ 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.6% during 2023-2028.
Vital signs monitoring devices comprise pulse oximeters and blood pressure and temperature monitoring devices. They are used for observing numerous vital signs, including pulse rate, blood pressure, body temperature, and respiratory rate. They can also be utilized for monitoring activities and fitness levels for self-health tracking and early diagnosis of severe medical conditions. As they are cost-effective, easy to use, and can measure different physiological parameters of the body using multi-parameter patient monitors, the demand for vital signs monitoring signs devices is rising worldwide.
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Global Vital Signs Monitoring Devices Market Trends and Drivers:
The increasing prevalence of chronic and lifestyle diseases among the masses and the rising geriatric population, which is more prone to developing severe medical ailments, represents one of the major factors driving the demand for vital signs monitoring devices around the world. It can also be attributed to sedentary lifestyles and the growing consumption of fast food. Moreover, the escalating demand for remote patient monitoring (RPM) and significant improvements in the healthcare sector is favoring the market growth. There is a rise in the occurrences of chronic obstructive pulmonary disease (COPD) and other severe respiratory conditions, such as lung cancer, which is also contributing to the market growth. Besides this, the growing health awareness among the masses about the availability of effective treatment alternatives is influencing the market positively. Initiatives undertaken by governments and non-governmental organizations (NGOs) of several countries to make quality healthcare facilities accessible to all are also contributing to the market growth. In addition, the integration of Bluetooth, sensors, and micro-electric technologies in vital signs monitoring devices is offering lucrative growth opportunities to key players operating in the industry. Apart from this, there is an increase in the adoption of wearable devices, including fitness trackers and fitness bands, that can be connected with smart devices for collecting patient data in real time, which is providing a thrust to the market growth. These devices also aid monitor numerous parameters, such as oximetry, heart rate, body and skin temperature, and capnography, with a single device. Furthermore, the growing utilization of mobile health (m-health) applications for providing high-quality virtual care and home care to patients through chatbots and real-time interactions is creating a positive outlook for the market. Besides this, key players are extensively financing research and development (R&D) projects in the field of medical science and telecommunications technologies which is anticipated to provide a favorable outlook to the market.
Vital Signs Monitoring Devices Market 2023-2028 Competitive Analysis and Segmentation:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- A&D Company Ltd.
- Contec Medical Systems Co. Ltd.
- GE Healthcare
- Koninklijke Philips N.V.
- Nihon Kohden Corporation
- Nonin Medical Inc.
- Omron Healthcare Inc.
- Smiths Group Plc
The report has categorized the market based on product type and end-user.
Breakup by Product Type:
- BP Monitoring Devices
- Aneroid BP Monitors
- Automated BP Monitors
- Tabletop/Bedside Pulse-Oximeters
- Wrist Worn
- Pediatric Pulse-Oximeters
- Temperature Monitoring Devices
- Mercury-Filled Thermometers
- Digital Thermometers
- Infrared Thermometers
- Temperature Strips
Breakup by End-User:
- Hospitals and Clinics
- Ambulatory Surgery Centers (ASCs)
- Home Care
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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Vital Signs Monitoring Devices Market Size 2023-2028 | Industry Share, Trends and Forecast
According to the latest report by IMARC Group, titled, “Vital Signs Monitoring Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global vital signs monitoring devices market size reached US$ 5.4 Billion...
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