Vital Signs Monitoring Devices Market Booming by Size, Revenue and Trend in 2019

Vital signs are used to measure the physical health in humans such as body temperature, pulse rate, respiratory rate, and blood pressure. The measurement of vital signs helps detect or monitor medical problems and can be measured in a medical setting, home, or at the site of a medical emergency.

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Vital signs monitoring market size was worth $3,694 million in 2015 and is expected to reach $5,491 million by 2022, growing at a CAGR of 5.8% from 2016 to 2022. North America was the leading regional market in global vital signs monitoring devices industry. The blood pressure monitoring devices segment is expected to maintain its lead throughout the forecast period.

Factors such as the increase in geriatric population, a growth of inclination towards home monitoring, and rise in an incidence rate of chronic diseases, such as cardiovascular disorders and obesity, are expected to drive the growth of the market. Moreover, an introduction of innovative and technologically advanced digital blood pressure monitors and finger pulse oximeters is set to further drive the market growth. However, lack of awareness about these devices in low- and middle-income economies hampers the market growth.

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Among the vital signs monitoring devices, BP monitoring devices are anticipated to uphold the dominating position in the global market in the upcoming years, owing to increase in incidences of obesity, hypertension, diabetes, and other lifestyle disorders. Pulse oximetry devices are projected to be the fastest growing segment, with CAGR of 6.3%, due to the increase in incidences of respiratory disorders (such as COPD) across the globe.

In the end-user segment, hospitals & clinics occupied the major share of the vital signs monitoring devices market, as these devices facilitate early detection of patients deteriorating health condition; thereby, enabling speedy intervention and diagnosis of the disease. Home environments were the other dominant end-user segment, expected to grow at a CAGR of 6.1%.

Key Findings of the Vital Signs Monitoring Devices Market:
• Based on product type, BP monitoring devices segment accounted for more than half of the total market in 2015.
• Digital BP monitors segment accounted for more than one-third share of the BP monitoring devices market; while ambulatory BPmonitorsis expected to grow at the highest CAGR of 7.5% during the forecast period.
• Amongst the pulse oximeters devices, fingertip pulse oximeters are expected to grow at a high rate as they can be easily used in home environments and do not require trained professional for the operation of the device.
• Digital thermometers accounted for a major chunk of the temperature monitoring devices market in 2015; while infrared thermometers segment is poised to grow at the highest CAGR of 5.7% during the forecast period.
• Asia-Pacific is expected to be the fastest growing region throughout the analysis period, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of cardiovascular disorders in this region and high disposable income of the population.
• Germany and France jointly accounted for almost one-third of the European vital signs monitoring devices market in 2015.

North America generated the highest revenue, accounting for the approximately two-fifth share of the overall vital signs monitoring devices market in 2015, and is expected to maintain this trend throughout the forecast period. This is attributed to the rise in the prevalence of respiratory disorders, growth in awareness among patients regarding cost-effective vital signs monitoring devices, and the availability of advanced healthcare facilities in the North American countries.

The key players profiled in this report include Welch Allyn (a subsidiary of Hill-Rom Holdings, Inc.), SunTech Medical Inc. (a subsidiary of Halma plc), Nonin Medical, Inc., Omron Corporation, Masimo Corporation, General Electric Company, Medtronic plc, Nihon Kohden Corporation, Koninklijke Philips N.V., and A&D Company, Limited.

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