Vital Signs Monitoring Devices Market: Market Size, Dynamics, Regional Share, Trends, Competitor Ana
Posted: May 23, 2018
Vital Signs Monitoring Devices Market: Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024
Market Introduction: Global Vital Signs Monitoring Devices Market
Vital signs are important signs indicate the status of body’s vital functions. Vital signs measurements are helps to assess the physical health of an individual and give information about possible diseases and show progress toward recovery. The normal values for a person’s vital signs are different with weight, age, overall health, and gender. The major vital signs in the human body are pulse rate, blood pressure, body temperature, and respiratory rate, among others. Various vital signs monitoring devices are used to measure the different types of vital signs. For example, the body temperature can be measured by using different types of thermometers, and the measurement of pulse rate is carried by using the pulse oximeter. Similarly, the blood pressure is measured by using the sphygmomanometer. The measurement of vital signs helps to monitor or detect the medical problems and can be measured in a medical setting, home, or at the site of medical emergency by using vital signs monitoring devices.
Market Dynamics: Global Vital Signs Monitoring Devices Market
The global vital signs monitoring devices market is increasing significant CAGR owing to increase in the prevalence rate of hypertension, respiratory disorders, and other cardiovascular disorders, among others. Increase in demand for non-invasiveness, and less diagnosis time is expected to fuel the growth of market revenue for global vital signs monitoring devices market. The rise in aging population, increase in technology for home monitoring devices, and rising incidence of various chronic diseases like cardiovascular diseases, and other pre-existing health conditions such as chronic obstructive pulmonary disease (COPD) are the major factors contributing the growth of global vital signs monitoring devices market over the forecast period. Moreover, favourable reimbursement policies, technology development in vital signs monitoring devices, growing acceptance of minimally-invasive outpatient surgery, and rapidly changing life style might improve the growth of global vital signs monitoring devices market. However, competitive pricing pressure and presence of counterfeit products, intense competition among vendors, and less awareness in developing countries might hamper the growth of global vital signs monitoring devices market.
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Market Segmentation: Global Vital Signs Monitoring Devices Market
Global vital signs monitoring devices market segmented on the basis of product type, modality, distribution channel, and end user
Based on product type, global vital signs monitoring devices market segmented into the following:
- Low acuity monitors
- Mid acuity monitors
- High acuity monitors
- Blood pressure monitoring device
- Aneroid BP monitors
- Digital BP monitors
- Ambulatory BP monitors
- Pulse oximeters
- Table-top/bedside pulse oximeters
- Fingertip pulse oximeters
- Hand-held pulse oximeters
- Wrist-worn pulse oximeters
- Paediatric pulse oximeters
- Temperature monitoring device
- Digital thermometers
- Infrared thermometers
- Temperature strips
Based on modality, global vital signs monitoring devices market segmented into the following:
Based on end-users, global vital signs monitoring devices market segmented into the following:
- Diagnostic centres
- Home care
- Ambulatory surgical centres
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Market Overview: Global Vital Signs Monitoring Devices Market
Global vital signs monitoring devices market is in developing stage, several local, and international players are actively involved in the development of global vital signs monitoring devices market. Pulse oximeters dominates market share compared with other devices. The launch of new products, partnerships, agreements, collaborations, and joint ventures and strategies adopted by various key players are expected to fuel the growth of global vital signs monitoring devices market. For instance, in late 2008, Infinium launched cost-effective Omni VS vital signs medical monitor, that features fast and accurate readings of blood pressure, mean arterial pressure, oxygen saturation, and temperature. Similarly, in October 2009, Cardiac Science Corporation expands into vital signs monitoring devices market by collaborating with Omron Healthcare Inc. for the development of blood pressure monitoring devices.
Regional Overview: Global Vital Signs Monitoring Devices Market
Geographically, the global vital signs monitoring devices market segmented into following regions Viz. North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa. North America accounts for largest share of the global vital signs monitoring devices market followed by Europe and Asia-Pacific. According to CDC, about 70 Mn American elders are suffering from increased blood pressure. Increase in the prevalence rate of cardiovascular diseases and hypertension might demand the blood pressure monitoring devices. The European market is raising demand for home health patient monitoring devices due to changing demographics and lifestyles that lead to the growth of global vital signs monitoring devices market in Europe region. Asia-Pacific region holds major share for the blood pressure monitoring devices due to rise in the prevalence of hypertension, development of blood pressure monitoring devices with cost effective, and growing healthcare expenditure. According to Australian heart disease statistics, the prevalence of hypertension was approximately 20% and increasing gradually every year. As per, Australian Bureau of Statistics, the aging population will increases 7.5 Mn by 2050, and increase in the risk geriatric people to develop hypertension, and cardiovascular disorder that leads to the growth of global vital signs monitoring devices market.
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Market Participants: Global Vital Signs Monitoring Devices Market
Some of the players in global vital signs monitoring devices market are Welch Allyn (U.S.), Medtronic (Ireland), Smiths Medical (Smiths Group) (U.S.), General Electric Corporation (U.S.), Briggs Healthcare (Briggs Medical Service Company) (U.S.), Infinium Medical (U.S.), Cardiac Science Corporation (U.S.), CareTaker Medical, LLC. (U.S.), and Mennen Medical (Nektop Ltd.) (U.S.) to name a few.
Key Market Developments: Global Vital Signs Monitoring Devices Market
- In April 2014, Mennen Medical Ltd. released of a new low cost, high-performance monitor Mennmove 3 for vital signs monitoring.
- In May 2017, CareTaker medical has received FDA clearance for continuous non-invasive blood pressure & wireless vital signs monitor device for its new features.
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