The global vital sign monitoring devices market is expected to reach USD 7.1 billion by 2025, according to a new report by Grand View Research, Inc. Continuous efforts towards new product development, spurring demand for the home healthcare services, increasing prevalence of chronic diseases and rising number of healthcare settings are driving factor for the remunerative growth of the market.
Development of comprehensive vital sign monitors which can monitor blood pressure, pulse and temperature is notable example of the development in this sector. Moreover, development of wireless and portable devices improved patient compliance is focal area of the development for the vital sign monitoring devices.
The prevalence of chronic diseases is exponential over the decade, this can be accountable to the sedentary lifestyle, pollution and stress. As a result, the prevalence of diseases such as diabetes mellitus, hypertension, allergies and respiratory disorders has increased rapidly. Hence, government, independent healthcare organizations, and private players are engaged in creating awareness about to take precautionary and preventive measures. This increasing awareness has led to increased demand for these devices in hospital and home use.
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Further Key Findings From the Study Suggest:
Blood pressure monitors held the largest share in product segment in 2016. This segment is also anticipated to exhibit sturdy growth over the forecast period.
Hospitals due to greater patient volumes and greater financing abilities held commanding share in end-user segment of vitals sign monitoring devices market.
On the hand, home healthcare is likely to grow as key end-user for the vital sign monitoring devices. Home healthcare is cost efficient option compared to hospitals.
North America is largest regional market for the vitals sign monitoring devices market in 2016. However, Asia Pacific owing to policy reforms, and economic developments is projected to exhibit fastest CAGR over the forecast period.
Some of the key players in vital sign monitoring devices market include Koninklijke Philips N.V., Medtronic, Nihon Kohden Corporation, GE Healthcare, Masimo, Omron Healthcare, Contec Medical Systems Co. Ltd, A&D Company Ltd., Nonin Medical Inc., and SunTech Medical, Inc.
New product developments, collaborations, regional expansion, and mergers are key strategic initiatives undertaken.
Grand View Research has segmented the vital sign monitoring devices market by product, end-use and region:
Product Outlook (Revenue, USD Million; 2014 - 2025)
Blood Pressure Monitors
Mercury Blood Pressure Monitors
Aneroid Blood Pressure Monitors
Digital Blood Pressure Monitors
Ambulatory Blood Pressure Monitors
Blood Pressure Instrument Accessories
Table-Top/Bedside Pulse Oximeters
Fingertip Pulse Oximeters
Hand-Held Pulse Oximeters
Wrist-Worn Pulse Oximeters
Pediatric Pulse Oximeters
Pulse Oximeter Accessories
Temperature Monitoring Devices
Mercury Filled Thermometers
Liquid Crystal Thermometer
Temperature Monitoring Device Accessories
Other Vital Sign Monitors
End-Use Outlook (Revenue, USD Million; 2014 - 2025)
Emergency Care Centers
Other Healthcare Settings
Regional Outlook (Revenue, USD Million; 2014 - 2025)
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