Vital Signs Monitoring Devices Market by End-Use, by Product and Geography – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2019 – 2026

The Global Vital Signs Monitoring Devices Market was valued at USD 4.5 billion in 2018, and is estimated to grow at a CAGR of 7.8% from 2020-2026. Growing prevalence of lifestyle-associated chronic conditions, rise in inclination towards home monitoring, growing geriatric population, advanced digital blood pressure monitors are key drivers responsible for market growth.

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In the medical domain, the vital signs monitoring devices have a pivotal role to derive medical data pertaining to patient health conditions and simultaneously offer the same to doctors and medical professionals. Vital signs monitoring can detect various diseases that can be controlled and diagnosed under a routine. Approximately around 900 million patients currently are dealing with chronic diseases and it is estimated that the patients can benefit from solutions through monitoring their health under home care facility. The current market comprises several devices that monitor crucial signs by using sensors attached through mobile device with a wireless connection such as Wi-Fi and Bluetooth. The devices involve pulse sensors, glucometers, blood oxygen sensors, etc. Many studies emphasize on the development of new medical sensors with a potential to relay exact information about patient’s health condition.

Technically, the system and processes involved in determining the vital signs of the patient is composed of nine medical sensors such as patient position sensor, glucometer, temperature sensor, blood pressure sensor, pulse and oxygen in blood, sensor skin conductance, electrocardiogram sensor, sensor electromiografo, and airflow sensor. The alarm system is backed by the detection of values gathered by any of the sensor mentioned as earlier. Further, the system segregates the data to detect any anomalous values and if it is outside the prescribed limits it is then important for a medical professional to define every limit as the configuration can be different for each patient.

Vital Signs Monitoring Devices Market Trends, Drivers and Opportunities:

The vital signs monitoring market is highly driven by trends such as demand for cost-effective treatment, portable devices and growing number of hospital admissions. Moreover, significance of portable devices in home care settings is growing in the first-world countries, which in turn drives the market growth. In addition, the market is directly affected by the presence of a number of treatment centers with proper medical facilities. However, rising competition among market players in order to provide better medical facilities is likely to create a market stagnancy condition in the upcoming years.