According to our report, the size of the global vital signs monitoring market is estimated to cross USD 7.80 billion by 2025, registering a CAGR of 6.6% between 2020 to 2025.
Vital sign devices are used to assess the patient's respiratory rate, blood pressure, temperature, and pulse accurately. While giving treatment services, these devices are crucial in monitoring the patient's condition. These devices can also be used at home to monitor the vital signs regularly.
Some of the key findings of the report:
MARKET DRIVERS:
It is essential to monitor patients' vital signs suffering from CVDs, diabetes, respiratory problems, and others. The Y-O-Y growth in these devices' prevalence and the incidence is primarily driving the global vital signs monitoring market. According to the Global Health Observatory data, there is a rapid increase in the number of deaths due to non-communicable diseases, around 70% of the deaths due to these diseases. Among those, 45.0% of deaths are due to cardiovascular problems, and 22.0% were caused due to Cancer. Chronic Obstructive Pulmonary Disease (COPD) and diabetes cause 10.0% and 4.0% of all deaths, respectively.
The increasing adoption of the latest devices at hospitals and clinics that are easy to handle is expected to favor the global vital signs monitoring market. Changes in lifestyles and food habits are also a factor for the increasing number of heart-related diseases, which is sole to impel the growth rate of the market. The growing adoption of sedentary lifestyles and irregular physical activities are ascribed to fuel the market demand tremendously. Rising awareness over the usage of home care settings is elevating the demand of the market.
Other factors such as improvement in the healthcare infrastructure, changes in the healthcare settings, and increasing funds by the government are outraging the market's growth. The launch of innovative devices like digital blood pressure monitoring devices, pulse oximeter, and others in favor of the end-users is additionally propelling the demand of the market. Besides, government initiative steps Escalating expenditure on the healthcare associated with the rising disposable income in both the developed and developing countries is likely to fuel the growth rate of the vital signs monitoring market. The majority of the people prefer the home care settings rather than going to hospitals due to its convenience factor is greatly impacting the growth rate of the market.
MARKET RESTRAINTS:
However, fluctuations in the devices' prices due to less production rate are slowly degrading the growth rate of the market. Along with this, people in rural areas are less aware of the devices available, which hinders the vital signs monitoring market demand. In low and middle-income economic countries, the demand for these devices is very less due to lack of knowledge, and this attribute is to hamper the market's growth. Lack of reimbursement policies in underdeveloped countries is also restraining the growth rate of the market.
COVID-19 Impact on the global vital signs monitoring market:
COVID-19 has impacted negatively on every sector. Due to travel restrictions, the market shares have seen drastic changes during the first half of 2020. But with the increasing popularity of home healthcare settings across the world, the demand has surged in a short period. Due to COVID 19, there is an increasing demand for contactless temperature checking at public places to control the novel coronavirus disease spread. As the number of COVID 19 patients increases, there is a prevalence to continuously monitor temperature and blood pressure, which is a major factor for the market to grow amid pandemic.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Product, End User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
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. |
This research report on the global vital signs monitoring market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2025.
Vital Signs Monitoring Market – By Product:
Based on the product, the BP monitoring devices segment was the market leader in 2019 and is predicted to continue dominating the forecast period. Y-O-Y growth in the prevalence of hypertension directly reflects the growth of the BP monitoring devices market.
The Pulse oximeters segment is positioned next to the BP monitors segment in accounting for the dominating shares in the market. Increasing cardiovascular-related problems and rising priority for pulse oximeters during the time of COVID 19 pandemic are outraging the growth rate of this segment. Fingertip segment among the pulse oximeters segment is estimated to grow at 8.36% during the forecast period.
Vital Signs Monitoring Market – By End User:
Based on End User, the Hospitals are gaining traction over the shares of the market among all based on the end-users. An increasing number of hospitals in accordance with the growing number of patients due to the spread of COVID 19 is accelerating the demand of the market. Technological advancements in healthcare and the adoption of new product launches in hospitals are likely to promote the growth rate of this segment.
Vital Signs Monitoring Market - By Region:
Geographically, North America is expected to hold the highest shares of the market due to increasing healthcare research and development activities. The presence of the key players and collaborations of the companies to introduce quality healthcare services are positively impacting the growth rate of the market in this region. The United States is the major country in dominating the shares of the market. According to the Population Reference Bureau, in the US, people age above 60 years will be around 98 million by 2060.
Europe is next in leading with the dominant shares of the market. Constant economic growth and high investments in the healthcare sector are elevating the demand of the market.
Asia Pacific is growing faster and is to hit the highest CAGR in the near future. The rising scale of the hospitals and increasing awareness over the use of pulse oximeters and temperature monitoring devices at home are likely to fuel the market's demand. The increasing geriatric population and trend towards fitness activities are also ascribed to leverage the growth rate of the vital signs monitoring market in Asia pacific.
KEY MARKET PARTICIPANTS:
Some of the notable companies playing a promising role in the global vital signs monitoring market profiled in this report are Koninklijke Philips N.V., Medtronic, Nihon Kohden Corporation, GE Healthcare, Masimo, Omron Healthcare, Contec Medical Systems Co. Ltd, A&D Company Ltd., Nonin Medical Inc., SunTech Medical, Inc.
RECENT MARKET DEVELOPMENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 BP monitoring devices
5.1.2.1 Aneroid BP monitors
5.1.2.2 Automated BP monitors
5.1.3 Pulse-oximeters
5.1.3.1 Tabletop/bedside pulse-oximeters
5.1.3.2 Fingertip
5.1.3.3 Handheld
5.1.3.4 Wrist worn
5.1.3.5 Pediatric pulse-oximeters
5.1.4 Temperature monitoring devices
5.1.4.1 Mercury-filled thermometers
5.1.4.2 Digital thermometers
5.1.4.3 Infrared thermometers
5.1.4.4 Temperature strips
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2 End User
5.2.1 Introduction
5.2.2 Hospitals
5.2.3 Physician’s Office
5.2.4 Home Healthcare
5.2.5 Ambulatory Centers
5.2.6 Emergency Care Centers
5.2.7 Other Healthcare Settings
5.2.8 Y-o-Y Growth Analysis, By End User
5.2.9 Market Attractiveness Analysis, By End User
5.2.10 Market Share Analysis, By End User
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By End User
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 A&D Medical
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Contec Medical Systems
8.3 Covidien PLC
8.4 GE Healthcare
8.5 Hicks Thermometers (India) Limited
8.6 Masimo Corporation
8.7 Mindray
8.8 Nihon Kohden
8.9 Nonin Medical
8.10 Omron Healthcare, INC
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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