MEA Vital Signs Monitoring Market

The Middle East And Africa Vital Signs Monitoring Market Size & Growth (2023 to 20289):

As per the research report, the size of the Middle East and Africa Vital Signs Monitoring market is valued at USD 0.134 billion in 2023. It is expected to grow at a CAGR of 3.6% to reach USD 0.160 billion by 2028 during the forecast period.

Advances in vital monitoring devices are a significant factor influencing the growth of the MEA market. The availability of various medical platforms, applications, telehealth solutions, and software to support healthcare providers and help monitor vital organs to ensure quality care. Many software is linked directly with the electronic health record to help get real-time and accurate patient data when needed. According to a research report, approximately 10,000 transcription errors occur each year when information is incorrectly copied or entered into the wrong table in a typical 200-bed hospital. Vital signs monitor thus minimize the potential for mistakes, resulting in safer patient care.

Additionally, with the rise of IoT-enabled consumer health wearable devices, the market is likely to grow as the line between consumer health wearable devices and medical devices begins to blur. It is now possible for a single portable device to control a variety of medical risk factors. These devices are gaining popularity as they provide patients with quick personal test reports that can contribute to their health, promote preventive care, and manage ongoing illness.

According to the United Nations, the world's population is aging; as a result, all countries of the world are experiencing an increase in the number and proportion of older people in their populations. According to the World Population Prospects report, people aged 60 and over were estimated to be 987 million worldwide. The senior population is estimated to reach 2.2 billion by 2050. Hence, the increasing demand for advanced vital signs monitoring devices to help patients is expected to drive market growth.

Technical failures in systems are a significant restraint facing the players in this market. Therefore, companies are trying to meet this restraining factor by using test and measurement practices with digital twin technology to avoid failures.

This research report on the Middle East & Africa Vital Signs Monitoring Market has been segmented and sub-segmented into the following categories:

By Product:

• BP Monitoring Devices
• Pulse-oximeters
• Temperature Monitoring Devices

By End User:

• Hospitals
• Physician’s Office
• Home Healthcare
• Ambulatory Centres
• Emergency Care Centres
• Other Healthcare Settings

By Country:

• KSA
• UAE
• Israel
• rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

Geographically, the MEA has made constant developments in the vital signs monitoring market. The regional governments are making multiple initiatives, and wearable devices have become the most popular sources of essential characters monitoring. The Middle East leads the MEA vital signs monitoring market with a regional share of 60% in 2020.

UAE vital signs monitoring market generated approximately $ 287 million in revenue in 2020 and is expected to dominate the market for years to come. This increase is due to the region's higher prevalence of chronic diseases related to a healthy lifestyle. For example, according to the International Diabetes Federation study, around 80 million people will have diabetes in 2020. This factor would also drive the market growth in the MEA region.

Other regional markets in MEA such as Saudi Arabia, Qatar, South Africa will gain revenues owing to the expanding use of digital healthcare in these countries and the increase in investments made by companies in the region.

South Africa's vital signs monitoring market is likely to post a considerable CAGR due to the growing interest of many manufacturers in the region. Moreover, the increasing awareness of healthcare programs on the benefits of vital signs monitoring devices for optimal healthcare would accelerate growth in this region.

KEY MARKET PLAYERS

The leading companies leading in the MEA Vital Signs Monitoring Market profiled in the report are Koninklijke Philips N.V., Medtronic, Nihon Kohden Corporation, GE Healthcare, Masimo, Omron Healthcare. Other players in the market include Contec Medical Systems Co. Ltd, A&D Company Ltd., Nonin Medical Inc., and SunTech Medical, Inc.