Vital Signs Monitoring Market Scope
The vital signs monitoring market 2020 can surge at a rate of 7.5% over the review period (between 2018 and 2023), reveals MRFR (Market Research Future). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Vital Signs Monitoring Market Key Drivers and Barriers
Vital signs monitoring devices have advanced from a single device measuring pulse, temperature and blood pressure (BP) to an all-in-one device. In addition, the surge in technological innovations in the product segment has fuelled the market demand to a large extent. A few other growth enhancers are the mounting preference for personalized healthcare, burgeoning elderly populace, high medical insurance penetration and the booming medical tourism in emerging nations.
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Over the years, medical tourism has observed strong growth in countries like South Korea, Singapore, Turkey, Costa Rica, Israel, India, Malaysia, Jordan, Singapore, Mexico, Canada, Thailand, Taiwan and Ecuador. These economies are touted to be profitable markets for vital sign monitors over the ensuing years. Also, the rising prevalence of lifestyles that cause chronic illnesses has boosted the market demand worldwide. With the surging awareness level, demand for accurate and personalized vital sign monitoring devices has intensified around the world.
Home healthcare services are evolving into key end-user in the global market, with countries such as Sweden and Japan observing a higher average lifespan of people and the resultant surge in assisted living homes. These markets can therefore emerge as potentially significant markets for vital sign monitors. Besides, new product launches, expansion, mergers and collaborations are the top marketing hacks adopted by the leading firms across the world. Surge in product approvals are also prompting players to come up with new innovations and draw in a higher number of consumers. To cite an instance, in September 2020, Masimo was granted FDA approval for its Rad-G Pulse Oximeter, which is a handheld device that monitors the respiration rate from pleth (RRp), SET pulse oximetry, and several other vital signs.
Vital Signs Monitoring Market Segmentation
Vital signs monitoring industry has been categorized into product, type, portability, end user and distribution channel.
With respect to product, the market segments are pulse oximeter, blood pressure monitoring devices, respiratory rate monitors, temperature monitoring devices, and more.
The key types of vital signs monitoring devices are non-integrated systems, integrated systems, and others.
Portability-wise, the market caters to portable and standalone. Standalone devices can achieve the leading spot in the global market due to the extensive use of these devices in clinics, ambulatory centers and hospitals. Portable devices can however procure the fastest growth rate on account of the surging demand for these products in home healthcare settings and their user-friendly property.
Some of the top end users in the industry are home healthcare, ambulatory centers, hospitals & clinics, and others.
The primary distribution channels in the market are online websites, retail pharmacies, hospital pharmacy, and others.
Vital Signs Monitoring Market Regional Outlook
The region-based market segments are the Americas, Asia Pacific or APAC, MEA/Middle East & Africa and Europe.
The American market can land the top position in the years to follow, primarily owing to the fast expanding elderly population and the high healthcare expenditure. The surging cases of interminable disorders, accelerating preference for wireless and remote devices and the favorable coverage policies also bolster the region’s position in the global market.
Europe can take the second place in the global industry, thanks to the soaring demand for home healthcare monitoring devices and the changing demographics and lifestyles. The significant death rate coupled with the escalating demand for cost effective treatment also add to the market’s value.
The APAC vital signs monitoring market is led by Republic of Korea, Australia India, China, and Japan, and can procure the fastest advancement rate during the analysis period. The high prevalence of various chronic diseases, growing geriatric populace and the rising trend of medical tourism can offer attractive opportunities to the market players firms in the following years.
Vital Signs Monitoring Market Affluent Companies
Some of the most affluent companies in the worldwide market are GENERAL ELECTRIC COMPANY, Smiths Medical, Medtronic, Masimo, Boston Scientific Corporation, Mindray DS USA, Inc., SunTech Medical Inc., Koninklijke Philips N.V., Omron Healthcare Inc., Siemens Healthcare Private Limited, Hicks Thermometers India Limited, Natus Medical Incorporated, CASMED, Spacelabs Healthcare, Welch Allyn, to mention a few.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Product Trends & Assessment
Chapter 5. Market Factor Analysis
LIST OF TABLES
Table 1 Global Vital Signs Monitoring Market Synopsis, 2018–2023
Table 2 Global Vital Signs Monitoring Market Estimates And Forecast, 2018–2023
Table 3 Global Vital Signs Monitoring Market, By Region, 2018–2023 (USD Million)
Table 4 Global Vital Signs Monitoring Market, By Product, 2018–2023 (USD Million)
Table 5 Global Vital Signs Monitoring Market, By Type, 2018–2023 (USD Million)
Table 6 Global Vital Signs Monitoring Market, By Portability, 2018–2023 (USD Million)
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Vital Signs Monitoring Market
Figure 3 Segmentation Market Dynamics For Global Vital Signs Monitoring Market
Figure 4 Global Vital Signs Monitoring Market Share, By Product, 2017
Figure 5 Global Vital Signs Monitoring Market Share, By Type, 2017
Figure 6 Global Vital Signs Monitoring Market Share, By Portability, 2017
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