Arizton published the latest research report, the global vital signs monitoring devices market to reach USD 33.36 billion by 2028, growing at a CAGR of 8.36%. The rising trends in the vital signs monitoring devices industry are technology development in vital sign monitoring devices, a growing shift towards remote patient monitoring technology, and enhanced adoption of patient-centric digital systems with wearable devices & telemedicine. North America dominated the global vital signs monitoring devices market share in 2022, accounting for over 35%.
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Vital Signs Monitoring Devices Market Report Scope
| Report Attributes | Details |
| Market Size (2028) | USD 33.36 Billion |
| Market Size (2022) | USD 20.60 Billion |
| CAGR (2022-2028) | 8.36% |
| Base Year | 2022 |
| Forecast Year | 2023-2028 |
| Market Segmentation | Product Type, Patient Group, Application, End-users, and Geography |
| Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
| Countries Covered | The US, Canada, Germany, France, The UK, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, Turkey, Saudi Arabia, South Africa, and the UAE |
| Market Dynamics |
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Market Overview
The vital sign monitoring devices landscape has become more complex and competitive after the COVID-19 outbreak. Although the demand for vital monitors during the pre-pandemic phase was high, the emergence of the COVID-19 pandemic accelerated the adoption of vital signs monitoring devices worldwide. Also, the pandemic contributed to the surge in awareness of these devices, advances in product development, and an increase in the application rate for individual care management. The pandemic overwhelmed the healthcare infrastructure worldwide. The screening and monitoring many infected and susceptible individuals emerged as major challenges during the pandemic. However, such challenges necessitated effective techniques for remotely managing and monitoring patients.
Recent advances in vital sign monitoring devices with the integration of Deep Learning (DL) and Machine Learning (ML) have strengthened the power of imaging techniques to remotely perform many tasks which previously required physical intervention by medical professionals. Also, launching advanced wearable vital signs monitoring devices has positively influenced market growth. The unprecedented expansion of the aging population and the rise in the prevalence of associated chronic conditions have accelerated the demand for healthcare services in hospitals, ambulatory care centers, and other health establishments with a high disease burden. Thus, the rise in the preference for outpatient care settings and remote patient monitoring options has fueled the adoption of vital signs monitoring devices worldwide.
Geography Analysis
The North American region dominated the vital signs monitoring devices market share, accounting for over 35% in 2022. The early adoption of medical technologies across the U.S. drives vital sign monitoring devices’ huge acceptance and application rate. The awareness about using vital sign monitors among individuals and the huge transformation of healthcare settings with digitalization and advanced technologies are accelerating the demand for standalone vital sign monitors across the US. In addition, the well-known approach for remote patient monitoring boosts the use of wearable vital sign monitors.
In Europe, the shift towards connected health technologies among patients and healthcare settings offers lucrative vital signs monitoring devices market growth opportunities. Currently, digital health technologies hold the potential to bring about huge improvements in the health systems of Europe in terms of care provision and administration. Furthermore, the challenges posed by COVID-19 have created different requirements and a new willingness to adopt connected health technologies.
Vendor Landscape
The vital signs monitoring devices market is highly competitive and has several major players. The fragmented market has various global, local, and regional manufacturers. Owing to continuous technological advancements and product innovations, mid-sized and emerging vendors are increasing their market presence by introducing new products at competitive prices. Also, the market potential drives several players to expand their industry share through acquisitions. Many vendors are adopting strategies to increase their presence in major markets. Larger players also tend to acquire other companies as a whole or specific product portfolio.
A&D Company, Hillrom, Masimo, Medtronic, Koninklijke Philips, GE Healthcare, Contec Medical Systems, NIHON KOHDEN, and Smiths Medical are some of the major vendors in the global vital signs monitoring devices market offering a wide range of both standalone and integrated vital signs monitors worldwide. All these companies have a significant presence in major geographical regions such as North America, APAC, and Europe. However, many local vendors provide products with similar specifications at lower prices, which has resulted in a price war among vendors. The major vendors continuously compete for the leading position in the market, with occasional competition coming from other local vendors.
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Market Segmentation
- Product Type: Standalone Vital Sign Monitors (Heart Rate/ Cardiac Monitors, Pulse Oximeter, Blood Pressure Monitors, and Body Temperature Monitors) and Integrated Vital Sign Monitors
- Patient Group: Geriatric, Pediatric, and Adults
- Application: Chronic Care and Acute Care
- End-users: Hospitals, Outpatient Care Settings, Homecare Settings & Individuals, and Others
- Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Key Company Profiles
- A&D Company
- Contec Medical Systems
- GE Healthcare
- Baxter
- ICU Medical
- Koninklijke Philips
- Masimo
- Medtronic
- NIHON KOHDEN
- Nonin
- OMRON
- OSI Systems
- 100-plus
- Arjo
- American Diagnostic
- Advanced Instrumentations
- Biofourmis
- Bittium
- BioIntelliSense
- Cardinal Health
- Compass Health Brands
- Drägerwerk AG & Co.
- Essence
- EDAN Instruments
- FUKUDA DENSHI
- Halma
- Infinium Medical
- Mennen Medical
- Microlife
- NURECA
- Oxitone
- Qardio
- Rossmax International
- Solaris Medical Technology
- Sunset Healthcare Solutions
- Turtle Shell Technologies Pvt. Ltd.
- Viatom Technology
- VitalConnect
- VivaLNK
- VYAIRE MEDICAL
- Cosinuss
- Better Life Medical Technology
- TaiDoc
- aXcent medical
- General Meditech
- Clarity Medical
- Hicks Thermometers India
- medical Econet
- Meditech
- Shenzhen Creative Industry
- Progetti
- GETEMED Medical and Information Technology
- Shenzhen Unicare Electronic
- Opto Circuits (India)
- Beijing Choice Electronic Technology
- Shenzhen Mindray Bio-Medical Electronics
- Remote Diagnostic Technologies
- Samtronic
- Charmcare
- AVI Healthcare
- Recorders & Medicare Systems
- Acare Technology
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