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Vital Signs Monitoring Industry Focusing on Fervent Players as Medtronic, Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, etc | Forecast till 2023
Vital Signs Monitoring Market
Vital Signs Monitoring Market - Overview
Global Vital Signs Monitoring Market is anticipated to hold a market value of USD 4.4 billion in the year 2017 and is expected to grow at a CAGR of 7.5% during the forecast period. Blood pressure, body temperature, heart rate and respiratory rate are the vital signs required at a certain range for the survival of human beings. These vital signs are measured using vital signs monitoring devices.
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The increasing geriatric population, rising prevalence of chronic diseases, technological advancements and rising incidences of hypertension are expected to drive the market growth over the forecast period. According to a report published by the Center for Disease Control and Prevention in November 2016, 75 million people in the US suffer from high blood pressure (usually caused by hypertension). However, high cost of devices and strict government regulations can restrain the market growth over the assessment period.
Top Players:
Some of the prominent players in the global vital signs monitoring market are Medtronic, Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, Boston Scientific Corporation, Natus Medical Incorporated, Siemens Healthcare Private Limited, Spacelabs Healthcare, Masimo, Mindray DS USA, Inc., SunTech Medical, Inc., Welch Allyn, Omron Healthcare, Inc., Smiths Medical, Hicks Thermometers India Limited, CASMED and Others.
Segments:
The global vital signs monitoring market has been segmented into product, type, portability, end user and distribution channel.
The market, on the basis of product, has been segmented into blood pressure monitoring devices, pulse oximeters, temperature monitoring devices, respiratory rate monitors and others. Blood pressure monitoring devices are expected to hold the largest market share owing to the rising prevalence of high blood pressure and hypertension. Market for pulse oximeters is expected to grow at the fastest CAGR owing to rising prevalence of cardiopulmonary diseases and chronic obstructive pulmonary disease.
The global market, on the basis of type, has been segmented into non-integrated systems, integrated systems and others.
The global market, on the basis of portability, has been segmented into standalone and portable.
The global vital signs monitoring market, by end user, has been segmented into hospitals & clinics, ambulatory centers, home healthcare and others.
The global vital signs monitoring market, by distribution channel, has been segmented into hospital pharmacy, retail pharmacies, online websites and others.
Regional Analysis:
Geographically, the Americas is expected to dominate the global market owing to the rising prevalence of high blood pressure, increasing geriatric population and dynamically changing lifestyle. According to a report published by the Center for Disease Control and Prevention in November 2016, 1 of 3 adults in the US suffer from high blood pressure. Europe is expected to hold the second largest position in the global market owing to the rising demand for home healthcare vital signs monitoring devices and changing demographics. Asia-Pacific is expected to be the fastest growing market owing to the rising demand for vital signs monitoring devices and in the hospitals as well as for home healthcare. Moreover, the Middle East and Africa region is expected to account for the least market share in the global market. Middle East and Africa is expected to slowly grow owing to rising prevalence of chronic diseases and developing healthcare infrastructure.
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