COVID-19 Update: Global Vital Signs Monitoring Devices Market is Expected to Grow at a Healthy CAGR with Top players A&D Company Ltd., Nonin Medical Inc., and SunTech Medical, Inc.
Industry Trends
The global vital signs monitoring devices market is a subset of the patient monitoring devices market. Factors such as increase in geriatric population, rise in inclination towards home monitoring, and upsurge in incidence rate of chronic diseases, such as cardiovascular disorders and other preexisting health conditions including COPD, are expected to drive the market. Moreover, improved reimbursement scenario for the monitoring devices and rise in ambulatory surgery centers across various countries that use vital signs monitoring devices routinely have fueled the vital signs monitoring market growth. However, lack of awareness about these devices in the low- and middle-income countries hamper the growth of vital signs monitoring devices market.
Vital signs are used to assess human physical wellbeing, such as body temperature, pulse rate, breathing rate and blood pressure. Measuring vital signs helps to diagnose or track medical problems, and can be measured in a medical setting, at home, or at the emergency site. Hypertension, a serious chronic disease, is one of the leading causes of death. As per the Centers for Disease Control and Prevention, about 70 million American adults suffer from high blood pressure, of which the conditions of only 52% of the people with high blood pressure are under control. Thus, continuous monitoring and recording of blood pressure is crucial for curtailing the chances of cardiovascular diseases and risk factors. Therefore, increase in prevalence of hypertension and other cardiovascular diseases is expected to impact the demand for blood pressure monitoring devices for the treatment of high blood pressure.
Due to the increasing prevalence of hypertension and increasing demand for blood pressure monitors designed for personal use, blood pressure monitors are the largest segment in the vital signs monitoring devices market. The process of monitoring the blood pressure has seen drastic changes in the recent past. Compatible, affordable, and easy-to-use blood pressure monitoring devices replace conventional devices quickly.
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North America currently dominates the vital sign monitoring devices market, and its dominance is expected to continue for a few more years. Owing to the well-established healthcare industry and better reimbursement services in the world this region is expected to increase its market share in the future. The United States holds a majority of the market in the North American region, owing to the country's increased adoption of digital healthcare and rising investment by the region's companies.
Vital Signs Monitoring Devices Market Revenue & Forecast, (US$ Million), 2015 – 2027:
Competitive Landscape
The report provides both, qualitative and quantitative research of vital signs monitoring devices market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.
The vital sign monitoring devices market is highly competitive and is comprised of several major players. In terms of market share, the market today is dominated by few of the major players. Nonetheless, mid-size to smaller companies are growing their market presence by introducing new products at lower prices, due to technological advances and product innovations.
The primary market players include: 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., and SunTech Medical, Inc.
Vital Signs Monitoring Devices Market:
By Product: Blood Pressure Monitoring Devices, Pulse Oximeters, Temperature Monitoring Devices
By End User: Hospitals & Clinics , Ambulatory Surgery Centers , Home Care Settings
By Geography:
North America: (U.S, Canada, Mexico, Rest of North America)
Europe: (France, The UK, Spain, Germany, Italy)
Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast Asia: (Indonesia, Thailand, Singapore)
Rest of Southeast Asia
Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
Latin America: (Brazil, Argentina, Rest of Latina America)
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