Vital signs monitoring involves measurement of heart rate, respiratory rate, temperature and blood pressure, in order to assess physical functioning of the body. The global vital signs monitoring devices market has been segmented on the basis of product type, mount type, end use and region. Based on product type, the market has been segmented into four segments, namely monitors, temperature measurement devices, blood pressure measurement devices and standalone pulse oximeters. The monitors segment is further classified into three sub-segments, namely low acuity monitors, mid acuity monitors and high acuity monitors. Besides, the temperature measurement devices segment is sub-segmented into liquid-filled thermometers, digital thermometers and infrared thermometers. Meanwhile, the blood pressure measurement devices segment has been sub-segmented into sphygmomanometers and automated blood pressure monitors. Based on mount type, the market has been segmented into standalone and portable. Based on end use, the global vital signs monitoring devices market has been segmented into hospitals, clinics, ambulatory surgical centres and home care settings.
Market Value and Forecast
Monitors segment is a high value and low volume segment which accounted for 38.0% share of the global vital signs monitoring devices market in 2014. Monitors segment is expected to expand at a significant CAGR, more than the CAGR projected for the global vital signs monitoring devices market over the forecast period. Among all the segments, the temperature measurement devices has been the most dominant segment in terms of volume, which stood at 26,813,778 units in the global vital signs monitoring devices market by the end of 2014. Standalone pulse oximeters segment is projected to be the fastest growing segment owing to its penetration into home care settings.
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Parent Market Scenario
Patient monitoring is part of patient care in emergency rooms, operating rooms, intensive care units and critical care settings. Patient monitoring devices is the parent market of vital signs monitoring devices. Patient monitoring devices include devices used for monitoring vital signs, hemodynamic, neurologic and brain functions. Vital signs monitoring devices are used in hospitals, clinics, ambulatory surgical centres and home care settings. The patient monitoring devices market was valued at approximately US$ 5 Bn in 2014. The global vital signs monitoring devices market held more than 50% of the share of global patient monitoring devices market in 2014.
Based on region, the global vital signs monitoring devices market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan and the Middle East and Africa. North America is expected to dominate the vital signs monitoring devices market, accounting for around 35% market share by the end of 2015, and is anticipated to remain dominant till the end of 2025. North America and Western Europe collectively account for over 50% share of the total vital signs monitoring devices market, currently, in 2015. Among all the regions, Asia Pacific Excluding Japan, the Middle East & Africa and Latin America are anticipated to expand at the highest CAGRs during forecast period from 2015 to 2025.
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Key players in the global vital signs monitoring devices market include CAS Medical Systems, Inc., Koninklijke Philips N.V., General Electric Co., Masimo Corporation, Mindray Medical International Limited, Covidien Public Limited, Nihon Kohden Corporation, Smiths Group plc, Dragerwerk AG & Co. KGaA, SunTech Medical, Inc., Welch Allyn, Inc., Spacelabs Healthcare, Inc. and ContecMedical Systems Co., Ltd. Major participants in the market are focused on new product development and approvals while expanding into emerging markets.