Surge in demand for portable monitoring devices drives the growth of the global vital signs monitoring devices market. North America contributed the highest share in 2018, and will maintain its dominance throughout the forecast period.
According to the report published by Allied Market Research, the global Vital signs monitoring devices market generated $4.65 billion in 2018, and is estimated to reach $7.81 billion by 2026, registering a CAGR of 6.6% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for portable monitoring devices and growing population of ageing people across the globe drive the growth of the global vital signs monitoring devices market. However, lack of awareness about these devices across the Asia-Pacific and LAMEA regions restrain the market growth. Furthermore, growing adoption of these devices for fitness monitoring is expected to provide new opportunities for market players in the near future.
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- Major vital signs monitoring devices manufactrurers have slowed down their production due to disrupted supply chain of components with restriction on logistics mobility amid the lockdown.
- The demand for vital signs monitoring devices has been increased during the Covid-19 pandemic for remote monitoring of the patients’ vital signs while the patient is at home. This reduces the need for hospital visits and minimizes the risk of exposure to coronavirus.
The report offers a detailed segmentation of the global vital signs monitoring devices market based on product type, end-user, and region.
Based on product type, the blood pressure monitoring devices segment contributed to the largest share in 2018, accounting for nearly half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the pulse oximetry devices segment is estimated to portray the highest CAGR of 7.1% during the forecast period.
Based on end-user, the hospitals & clinics segment accounted for the largest share in 2018, holding more than half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the ambulatory surgical centers segment is expected to register the highest CAGR of 7.7% from 2019 to 2026.
Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-pacific is expected to grow at the highest CAGR of 8.1% from 2019 to 2026.
Leading market players analyzed in the research include Hill-Rom Holdings, Inc., Halma plc (SunTech Medical, Inc.), Nonin Medical, Inc., Omron Corporation, Masimo Corporation, General Electric Company, Medtronic plc, Nihon Kohden Corporation, Contec Medical System Co., Ltd., and A&D Company, Limited.
Scope of the Report:
|Market size available for years||2019-2026|
|Base year considered||2018|
|Forecast units||Value (USD)|
|Segments covered||Product Type, End User, Region|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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