2025-2034 Vital Parameter Monitoring Devices And Equipment Market Roadmap: Insights for Competitive Advantage

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How Large Will the Vital Parameter Monitoring Devices And Equipment Market Size By 2025?
The market size of vital parameter monitoring devices and equipment has witnessed significant expansion in the past few years. The market, which is projected to escalate from $8.06 billion in 2024 to $8.81 billion in 2025, is estimated to have a compound annual growth rate (CAGR) of 9.3%. Factors contributing to this growth during the historical period include an aging population, prevalence of chronic diseases, patient empowerment, and the digital transformation in healthcare.

How Big Is the Vital Parameter Monitoring Devices And Equipment Market Size Expected to Grow by 2029?
The market size for crucial monitoring devices and equipment is projected to experience robust growth in the forthcoming years. It is predicted to increase to a staggering $12.13 billion by 2029, with a compound annual growth rate (CAGR) of 8.3%. Various factors contributing to this anticipated growth within the forecast period include remote patient supervision, customized medical care, preventative health services, and value-driven healthcare. The upcoming trends during this period are likely to be dominated by wearable technology, artificial intelligence, machine learning, telemonitoring developments, and integration with smart homes.

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Which Key Market Drivers Powering Vital Parameter Monitoring Devices And Equipment Market Expansion and Growth?
The growth of the vital parameter monitoring devices and equipment market is set to be propelled by the expanding geriatric population. The term 'geriatric population' describes individuals aged 65 and over in relation to those who are aged between 18 and 64 and are employed. As the worldwide aging population expands, there is an increasing requirement for continuous vital signs monitoring, thus elevating the demand for monitoring devices and equipment. For instance, a report released by the World Health Organization (WHO), a Switzerland-based institution designated for global public health, posits that by 2030, one in six individuals globally will be aged 60 or older. Predictions for 2050 suggest that people aged 60 or older will constitute 2.1 billion of the world's population. The community of individuals who are aged 80 or more will experience an increase of 426 million from 2020 to 2050 relative to the present population. Hence, the expanding geriatric demographic is a key driver for the augmentation of the vital parameter monitoring devices and equipment market.

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Which Fast-Growing Trends Are Poised to Disrupt the Vital Parameter Monitoring Devices And Equipment Market?
Firms specialising in vital parameter monitoring devices and equipment are increasingly dedicating resources to the development and research of wearable health devices (WHDs). WHDs are intelligent electronic devices that a user can wear to track health and fitness data. These tools enable more efficient health monitoring and can assist in early illness detection with doctor's advice. For example, Sotera Wireless developed the ViSi Mobile, a wearable device capable of monitoring various vital signs, such as heart rate, respiration rate, oxygen saturation, and pulse rate. Another wearable device, VitalTag, was developed under the Department of Homeland Security Science and Technology Directorate program to measure and monitor heart rate, oxygen levels in the blood, body temperature, and blood pressure. Most recently, Current Health has received FDA approval for a wearable device driven by artificial intelligence, which controls patient vital signs both in the hospital and at home.

What Are the Emerging Segments in the Vital Parameter Monitoring Devices And Equipment Market?
The vital parameter monitoring devices and equipment market covered in this report is segmented -

1) By Product Type: Blood Pressure Monitoring Devices, Pulse Oximeters, Temperature Monitoring Devices
2) By Blood Pressure Monitoring Devices: Aneroid BP Monitors, Digital BP Monitors, Ambulatory BP Monitors, Blood Pressure Instrument Accessories
3) By Pulse Oximeters: Table-top Or Bedside Pulse Oximeters, Fingertip Pulse Oximeters, Hand-held Pulse Oximeters, Wrist-worn Pulse Oximeters, Pediatric Pulse Oximeters
4) By Temperature Monitoring Devices: Digital Thermometers, Infrared Thermometers, Temperature Strips
5) By End User: Hospitals, Clinics, Ambulatory Surgery Centers, Home Care Settings

Subsegments:
1) By Blood Pressure Monitoring Devices: Digital Blood Pressure Monitors, Aneroid Blood Pressure Monitors, Mercury Sphygmomanometers, Ambulatory Blood Pressure Monitors, Wrist Blood Pressure Monitors
2) By Pulse Oximeters: Finger Pulse Oximeters, Handheld Pulse Oximeters, Fingertip Pulse Oximeters, Pediatric Pulse Oximeters, Wrist Pulse Oximeters
3) By Temperature Monitoring Devices: Digital Thermometers, Infrared Thermometers, Ear Thermometers, Forehead Thermometers, Clinical Thermometers

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Who Are the Global Leaders in the Vital Parameter Monitoring Devices And Equipment Market?
Major companies operating in the vital parameter monitoring devices and equipment market include Hill-Rom Holdings Inc., Halma plc, Masimo Corporation, General Electric Company, Medtronic plc, Nihon Kohden Corporation, Koninklijke Philips N.V., A&D Company Limited, Contec Medical Systems Co. Ltd., Nonin Medical Inc., Omron Corporation, Smiths Group plc, Spacelabs Healthcare, CAS Medical Systems Inc., Dragerwerk AG & Co., Briggs Healthcare Corp., OSI Systems Inc., Mindray Medical International Limited, Caretaker Medical LLC, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Boston Scientific Corporation, Hicks Inc., Covidien plc, Bosch GmbH, Biotronik Inc., Intel Corporation, Health anywhere Inc, Johnson & Johnson, Schiller AG, Edwards Lifesciences, Nonin Medical Inc., Hill-Rom Holdings Inc., Midmark Corporation, Baxter International Inc., ICU Medical Inc.

Which are the Top Profitable Regional Markets for the Vital Parameter Monitoring Devices And Equipment Industry?
Asia-Pacific was the largest region in the global vital parameter monitoring devices and equipment market in 2023. North America was the second-largest region in the vital parameter monitoring devices and equipment market share. The regions covered in the vital parameter monitoring devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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