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Vital Sign Monitors Market is Growing at a CAGR of 7.94%, Delveinsight

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Vital Sign Monitors Market is Growing at a CAGR of 7.94%, Delveinsight

July 13
20:10 2022
Vital Sign Monitors Market is Growing at a CAGR of 7.94%, Delveinsight

The Global Vital sign monitors market was valued at USD 8.19 billion in 2021, growing at a CAGR of 7.94% during the forecast period from 2022 to 2027, to reach USD 12.96 billion by 2027. The rise in demand for vital sign monitors is primarily attributed to the growing burden of the old age population across the globe, increase in the prevalence of a variety of lifestyle-associated disorders such as respiratory disorders, cardiology disorders, among others. Moreover, constant efforts of the key manufacturers for developing technologically advanced vital sign monitoring devices, and the rise in approval of the products portfolio, among others are the factors responsible for the growth of vital sign monitoring devices.

 

Vital Sign Monitors: An Overview

Vital signs monitor are the devices that measure the basic medical indicators of health such as temperature, pulse, breathing, and blood pressure. Most of these monitors can store and record thousands of pieces of information.

 

Regions Covered in the Report

  • Global

 

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Recent Developmental Activities in the Vital Sign Monitors Market:

  • In November 2020, Masimo received CE marking for its Radius VSM™, a wearable, tetherless vital signs monitor, and is released in limited European markets.
  • In October 2020, Nihon Kohden launched NK-HealthProtect™ during COVID-19 in the US. NK-HealthProtect™ Patient Triage Solution is a complete kit that includes SVM-7200 Vital Signs Monitor to help evaluate patients potentially suffering from COVID-19.
  • In July 2020, Philips and BioIntelliSense entered into a strategic collaboration to enhance remote patient monitoring for at-risk patients from the hospital into the home.

 

Key Takeaway from the Vital Sign Monitors Market Report Study

  • Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Vital Sign Monitors market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the Global Vital Sign Monitors Market.
  • Various opportunities are available for the other competitor in the Vital Sign Monitors Market space.
  • What are the top-performing segments in 2021? How these segments will perform in 2027.
  • Which are the top-performing regions and countries in the current market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for Vital Sign Monitors market growth in the coming future?

 

Global Vital Sign Monitors Market Driver

The major factors driving the demand for vital sign monitors are the rising worldwide prevalence of various lifestyle-associated chronic disorders, the sudden outbreak of the COVID-19 pandemic, the increasing old age population, and recent product approvals, among others.

 

Region has the Highest Share in the Vital Sign Monitors Market

North America is expected to dominate the overall vital sign monitors market during the forecast period, 2022 to 2027. This domination is due to the growing demand for advanced technologies in remote patient monitoring devices or vital sign monitors, the increasing chronic disease in the region, and others that are driving the regional growth. Moreover, the rising prevalence of respiratory diseases, increased R&D funding, favourable reimbursement for these devices, and the presence of an advanced healthcare system are also the fuelling factors for the vital sign monitors market in the region.

 

Vital Sign Monitors Market Dynamics

Vital sign monitors are gaining momentum in recent years owing to the rising burden of the geriatric population worldwide. This is because old age people are at a higher risk of developing various chronic disorders which makes it necessary to continuously measure the performance of the vital organs. For instance, according to the statistics published in the United Nation’s World Population Ageing in the year 2020, there were approximately 727 million persons in the world who were aged 65 years or over in the same year. Also, the same highlights estimated that by the year 2050, the overall old age population worldwide will double, reaching over 1.5 billion.

 

COVID-19 Impact on Vital Sign Monitors Market

Additionally, the unprecedented COVID-19 pandemic had a positive impact on the vital sign monitoring devices market. This is because of the recent expansion in the use of vital sign monitors by the FDA to enable remote patient care during COVID-19 emergencies to reduce hospital visits in order to minimize the risk of coronavirus exposure. Moreover, the pandemic also allowed the local manufacturers to launch new products for remotely measuring the patient’s body temperature, respiratory rate, and others.  For instance, in June 2020, DetelPro, an Indian-based company launched an infrared thermometer at a very nominal price.

Also, the sudden outbreak of the COVID-19 pandemic has raised the demand for pulse oximeters. This is because a person with COVID-19 infection has to ensure that the SpO2 reading stays consistently at or above 90 to 92% which requires continuous monitoring. Moreover, to curb the spread of infection, the demand for non-contact infrared thermometers has increased considerably which ultimately leads to the segmental growth of the vital sign monitors market.

 

Vital Sign Monitors Market Segment Analysis

Vital Sign Monitors Market By Product Type (Standalone Monitoring Devices [Blood Pressure Monitoring Devices {Mercury Blood Pressure Monitors, Aneroid Blood Pressure Monitors, Automated Blood Pressure Monitors, and Others}, Pulse Oximeters {Fingertip Pulse Oximeters, Handheld Pulse Oximeters, Bench_Top Pulse Oximeters, and Wearable Pulse Oximeters}, Temperature Monitoring Devices {Digital Thermometers, Infrared Thermometers, and Others}, Others] and Combined Monitoring Devices), By End-User (Hospitals, Clinics, Homecare Settings, and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).

 

Vital Sign Monitors Market is expected to dominate the North America

North America is expected to dominate the overall vital sign monitors market during the forecast period. This domination is due to the growing demand for advanced technologies in remote patient monitoring devices or vital sign monitors, the increasing chronic disease in the region, and others that are driving the regional growth. Moreover, the rising prevalence of respiratory diseases, increased R&D funding, favourable reimbursement for these devices, and the presence of an advanced healthcare system are also the fuelling factors for the vital sign monitors market in the region.

For instance, according to the Centers for Disease Control and Prevention (CDC) 2021 data, approximately 4.6 % of the total American population have been diagnosed with COPD, emphysema, or chronic bronchitis. Also, as per the data revealed in the year 2021 by the CDC, nearly half of adults in the United States (47%, or 116 million) have hypertension.

 

Vital Sign Monitors Market Companies

Some of the key market players operating in the Vital Sign Monitors market include Masimo, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION., Nonin Medical, Omron, ACCOSON, Advin Health Care, Lepu Medical Technology, TytoCare Ltd., VYAIRE, SCHILLER, SunTech Medical, Inc., Welch Allyn Inc., Medtronic, GENERAL ELECTRIC COMPANY, Contec Medical Systems Limited, Biobeat, Honsun, Rudolf Riester GmbH, Promed Technology, Infinium Medical,  and others.

 

Find more related information of the report Vital Sign Monitors Market Share

 

Table of Content

1. Vital Sign Monitors Market Report Introduction

2. Vital Sign Monitors Market Executive summary

3. Regulatory and Patent Analysis

4. Vital Sign Monitors Market Key factors analysis

5. Vital Sign Monitors Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Vital Sign Monitors Market

7. Vital Sign Monitors Market layout

8. Vital Sign Monitors Global Company Share Analysis – Key 3-5 Companies

9. Vital Sign Monitors Company and Product Profiles

10. KOL Views

11. Project Approach

12. About DelveInsight

13. Disclaimer & Contact Us

 

About Us

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