Rising Geriatric Population Fuels Demand For Vital Parameter Monitoring Devices And Equipment: Powering Innovation and Expansion in the Vital Parameter Monitoring Devices And Equipment Market by 2025

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What Is the Expected CAGR for the Vital Parameter Monitoring Devices And Equipment Market Through 2025?
The market size for vital parameter monitoring devices and equipment has significantly expanded in recent years. The market is expected to increase from $8.47 billion in 2024 to $9.18 billion in 2025, representing a compound annual growth rate (CAGR) of 8.4%. Factors contributing to this growth during the historic period include an aging population, chronic illnesses, increased patient autonomy, and the digitization of healthcare.

What's the Projected Size of the Global Vital Parameter Monitoring Devices And Equipment Market by 2029?
The market size of essential parameter monitoring devices and equipment is projected to witness significant growth in the upcoming years, escalating to $12.82 billion by 2029 at a compound annual growth rate (CAGR) of 8.7%. The forecasted period's growth can be associated with factors such as remote patient surveillance, individualized medicine, preventative healthcare, and value-driven healthcare. The expanding trends during the predicted period incorporate wearable technology, artificial intelligence, machine learning, telemonitoring enhancements, and integration with smart homes.

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Top Growth Drivers in the Vital Parameter Monitoring Devices And Equipment Industry: What's Accelerating the Market?
The anticipated rise in the elderly population is set to propel expansion in the market for vital parameter monitoring devices and equipment. The elderly demographic is defined as those aged 65 and above in relation to the employed population aged between 18 and 64. As the older population across the globe expands, the continuous monitoring of vital signs becomes increasingly necessary, thus elevating the demand for monitoring devices and equipment. To illustrate, a report from the Switzerland-based World Health Organization (WHO), a key player in international public health, projected in October 2022 that by 2030, one in every six individuals globally will be 60 or older. Furthermore, by 2050, the global population will include 2.1 billion people aged 60 or older. There will also be 426 million individuals aged 80 or above, an increase from the population in 2020. Consequently, the growth of the older population is fueling the expansion of the market for vital parameter monitoring devices and equipment.

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What Trends Will Shape the Vital Parameter Monitoring Devices And Equipment Market Through 2029 and Beyond?
Companies in the vital parameter monitoring devices and equipment sector are increasingly focusing their efforts on the research and development of Wearable Health Devices (WHDs). These smart electronic gadgets, designed to be worn on the body, are capable of collecting data related to health and fitness. They provide enhanced health monitoring capabilities and can aid in early diagnosis and physician advice. An example of such a device is the ViSi Mobile, developed by Sotera Wireless, which can measure various vital parameters including heart rate, respiration rate, oxygen saturation, and pulse rate. Another device, VitalTag, was developed under the Department of Homeland Security Science and Technology Directorate program. It can detect and monitor heart rate, blood oxygen levels, body temperature, and blood pressure. Meanwhile, Current Health has recently received FDA approval for a wearable device powered by artificial intelligence that can monitor patient vital signs in both hospital and home settings.

What Are the Main 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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Which Top Companies are Driving Growth 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 Regions Will Dominate the Vital Parameter Monitoring Devices And Equipment Market Through 2029?
Asia-Pacific was the largest region in the global vital parameter monitoring devices and equipment market in 2024. 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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