The vital signs monitoring market size will reach USD 7.3 billion by 2027, growing at a CAGR of 8.42%

Vital Signs By Product (BP Monitoring, Pulse Oximeter, Others), Type (Non-Integrated System, Integrated System, and Others), Portability (Standalone, Portable), End User, Distribution Channel, Competitive Market Growth, Size Monitor market trends and insights, share and forecast to 2027

NEW YORK, USA, May 31, 2022 (GLOBE NEWSWIRE) — Vital Signs Monitoring Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Vital Signs Monitoring Market Information by Product, Type, Portability, End User, Distribution Channel – Forecast to 2027”, the market size is expected to reach USD 7.3 billion and is expected to grow at a CAGR of 8.42% during the forecast period.

Market Scope:

Vital signs are considered the most important measure of a person’s overall health. For a person to live a disease-free life, their vital signs must be within acceptable limits. Devices that monitor vital signs can be used to measure a person’s breathing rate, heart rate, body temperature, and blood pressure.

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Report Scope:

report properties

detail

market size

$7.3 billion

compound annual growth rate

8.24%

base year

2019

forecast period

2020-2027

historical data

2018

forecast unit

Value (billion US dollars)

Report Scope

Revenue forecast, competitive landscape, growth factors and trends

Market segments covered

By Product, Type, Portability, End User, Distribution Channel

area covered

North America, Europe, Asia Pacific and Rest of World (RoW)

Key market drivers

Growing elderly population

Rising prevalence of chronic diseases and lifestyle changes

Vital Signs Monitoring Market Competitive Dynamics:

The vital signs monitoring market has a huge and distressing competitive landscape, with new competitors entering the market with ease, while established players are investing heavily in the field. The big names in this market are:

  • Medtronic,

  • Koninklijke Philips NV

  • General Electric Company

  • Boston Scientific

  • Natus Medical Corporation

  • Siemens Healthcare Pte Ltd

  • Spacelabs Healthcare

  • Massimo

  • Mindray DS America Inc.

  • Suntech Medical Corporation

  • Welch Allin

  • Omron Healthcare Corporation

  • Smith Medical

  • Hicks Thermometers India Ltd.

  • CASMED

Market dynamics:

Market Drivers:

In recent years, the global vital signs monitoring market has grown rapidly. The rise of the market is largely due to the aging world population. Furthermore, changing lifestyles and expanding prevalence of chronic diseases are expected to improve market performance over the next few years. Continuous product innovation, growing demand for home healthcare services, increasing number of healthcare facilities, especially hospitals, and rising prevalence of chronic diseases are the key growth drivers for the industry. In a very short period of time, different devices for measuring blood pressure (BP), pulse and temperature have evolved into a single device that measures all three parameters. Furthermore, the increase in the number of innovations in this product category is driving the market growth.

Market restrictions:

On the other hand, stringent government regulations and high equipment costs are expected to hinder the growth of the vital signs monitoring market during the assessment period. However, lack of awareness of these devices in low- and middle-income countries hinders market expansion.

Vital Signs Monitoring Market COVID-19 Analysis:

Due to the onset of the COVID-19 pandemic in 2020, the demand for vital sign monitoring devices such as blood pressure monitors, pulse oximeters and temperature monitoring devices has skyrocketed as these are the most important criteria for diagnosing the presence of the virus. Unsurprisingly, the COVID-19 pandemic has increased the demand for vital signs monitoring equipment, as continuous monitoring of vital signs (such as temperature, respiratory rate, pulse rate, etc.) can serve as an effective infection detection technique for those infected with the virus.

Considering the importance of patient-provider safety, there has been an increase in the demand for wearable monitoring devices and the use of home vital signs monitoring devices. Wearables users, if used in conjunction with a prediction platform, may be warned when changes in their metrics match changes related to COVID-19.

Additionally, as a result of the pandemic, the FDA has promoted increased availability and capabilities of patient monitoring devices, stating that modifying the use of such devices may increase access to important patient physiological data without the need for clinical visits and provide patients with convenience by Healthcare providers manage while reducing demand for in-office or in-hospital services during the COVID-19 public health emergency.

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Vital Signs Monitoring Market Segmentation:

By product

Blood pressure monitors hold the market share and are expected to grow at a strong CAGR during the review period. This can be attributed to the rising prevalence of hypertension, which has led to increased blood pressure monitoring. Also, due to heightened health awareness, today’s patients are monitoring their blood pressure as a precautionary measure or precaution.

By Type

The Integrated Systems segment is expected to record substantial growth during the period under review.

by portability

The portable segment is expected to drive the market during the review period.

By end use

The hospital end-use segment dominates global revenue. This expansion could be attributed to the company’s large patient base and improved financing capabilities for these gadgets. In hospitals and clinics, vital signs monitoring systems are in high demand as they can detect deterioration in patients’ health status early, allowing for timely intervention and disease diagnosis. Disposable wireless monitoring devices are widely used in hospitals because they are disposable and do not require cleaning and disinfection.

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Regional Analysis For Vital Signs Monitoring Market:

Geographically, the Americas is expected to dominate the global vital signs monitoring market owing to rising geriatric population and rising healthcare spending. Important drivers driving the regional market are the expanding geriatric population, rising prevalence of incurable diseases, growing demand for remote and wireless devices, and streamlining of coverage policies. In addition, high awareness and accessibility of healthcare services in the region and strong reimbursement coverage for critical medical equipment are helping to boost product demand.

Europe is expected to be the second largest market for vital signs monitoring globally. Market expansion in this region is attributed to increasing demand for home health patient monitoring devices and changing lifestyles and demographics.

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The Asia Pacific vital signs monitoring market includes China, Japan, South Korea, India, Australia, and the rest of Asia Pacific. Asia Pacific is expected to be the fastest growing region owing to increasing incidence of chronic diseases, increasing geriatric population, and growing demand for vital signs monitoring devices.

The Middle East and Africa is expected to hold the smallest market share. Market expansion in the region is expected to be driven by thriving healthcare infrastructure and increasing prevalence of chronic diseases.

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