COVID-19 Update: Global Vital Signs Monitoring Devices Market is Expected to Grow at a Healthy CAGR with Top players A&D Company Ltd., Nonin Medical Inc., and SunTech Medical, Inc.
Industry Trends
The global vital signs monitoring
devices market is a subset of the patient monitoring devices market. Factors
such as increase in geriatric population, rise in inclination towards home
monitoring, and upsurge in incidence rate of chronic diseases, such as
cardiovascular disorders and other preexisting health conditions including
COPD, are expected to drive the market. Moreover, improved reimbursement
scenario for the monitoring devices and rise in ambulatory surgery centers
across various countries that use vital signs monitoring devices routinely have
fueled the vital signs monitoring market growth. However, lack of awareness
about these devices in the low- and middle-income countries hamper the growth
of vital signs monitoring devices market.
Vital signs are used to assess
human physical wellbeing, such as body temperature, pulse rate, breathing rate
and blood pressure. Measuring vital signs helps to diagnose or track medical
problems, and can be measured in a medical setting, at home, or at the emergency
site. Hypertension, a serious chronic disease, is one of the leading causes of
death. As per the Centers for Disease Control and Prevention, about 70 million
American adults suffer from high blood pressure, of which the conditions of
only 52% of the people with high blood pressure are under control. Thus,
continuous monitoring and recording of blood pressure is crucial for curtailing
the chances of cardiovascular diseases and risk factors. Therefore, increase in
prevalence of hypertension and other cardiovascular diseases is expected to
impact the demand for blood pressure monitoring devices for the treatment of
high blood pressure.
Due to the increasing prevalence
of hypertension and increasing demand for blood pressure monitors designed for
personal use, blood pressure monitors are the largest segment in the vital
signs monitoring devices market. The process of monitoring the blood pressure
has seen drastic changes in the recent past. Compatible, affordable, and
easy-to-use blood pressure monitoring devices replace conventional devices
quickly.
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North
America currently dominates the vital sign monitoring devices market, and its
dominance is expected to continue for a few more years. Owing to the
well-established healthcare industry and better reimbursement services in the
world this region is expected to increase its market share in the future. The
United States holds a majority of the market in the North American region,
owing to the country's increased adoption of digital healthcare and rising
investment by the region's companies.
Vital
Signs Monitoring Devices Market Revenue & Forecast, (US$ Million), 2015 –
2027:
Competitive Landscape
The report provides both,
qualitative and quantitative research of vital signs monitoring devices market,
as well as provides comprehensive insights and development methods adopted by
the key contenders. The report also offers extensive research on the key
players in this market and details on the competitiveness of these players. Key
business strategies such as mergers and acquisitions (M&A), affiliations,
collaborations, and contracts adopted by these major market participants are
also recognized and analysed in the report. For each company, the report
studies their global presence, competitors, service offerings and specification
amongst others.
The
vital sign monitoring devices market is highly competitive and is comprised of
several major players. In terms of market share, the market today is dominated
by few of the major players. Nonetheless, mid-size to smaller companies are
growing their market presence by introducing new products at lower prices, due
to technological advances and product innovations.
The
primary market players 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.
Vital
Signs Monitoring Devices Market:
By
Product: Blood Pressure Monitoring Devices, Pulse Oximeters, Temperature
Monitoring Devices
By End
User: Hospitals & Clinics , Ambulatory Surgery Centers , Home Care Settings
By
Geography:
North
America: (U.S, Canada, Mexico, Rest of North America)
Europe:
(France, The UK, Spain, Germany, Italy)
Nordic
Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux
Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia
Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast
Asia: (Indonesia, Thailand, Singapore)
Rest of
Southeast Asia
Middle
East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East
and Africa)
Latin
America: (Brazil, Argentina, Rest of Latina America)
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