Vital Signs Monitoring Devices Market Size Is Projected To Be Around $6 Billion By 2025.
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A research study titled, “Vital Signs Monitoring Devices Market by Product and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the vital signs monitoring devices market is projected to be around $6 billion by 2025.
Increasing diversity in patient characteristics has led to an increased focus on identifying early deterioration and adverse events. One of the key components of such efforts is the monitoring of different vital signs of the patients. Monitoring and measurement of vital signs is an essential practice for healthcare practitioners treating infants, children and adults alike. Traditionally, healthcare professionals and organizations have been practicing recording and monitoring of vital signs as a means to evaluate the physiological status of patients. This information, which usually consists of temperature, blood pressure, respiratory rate, oxygen saturation measurements and pulse rate, is then used to help determine a patient’s health status. With increase in incidence of chronic diseases such as hypertension and cardiovascular disorders across the world, vital signs monitoring has gained significant importance in avoiding adverse events.
The body’s temperature represents the balance between the heat lost and heat produced. In clinical environments, body temperature of patients may be affected by factors such as skin exposure (e.g. in the operating theatre), underlying pathophysiology (e.g. sepsis) or age. Other factors which may not alter the core body temperature may result in inaccurate measurements, such as consuming cold or hot fluids before oral temperature measurement. Monitoring devices such as digital thermometers, temperature strips and infrared thermometers are generally used for temperature measurement. Pulse can be affected by many factors such as age, medications, existing medical conditions (e.g. fever) and fluid status. Measurement of heart rate and pulse oximetry are critical for assessing the status of human cardiovascular system. Pulse oximetry refers to measurement of oxygen saturation level to determine the amount of oxygen being carried by the blood. Different forms of these devices such as hand-held pulse oximeter, fingertip pulse oximeters, and wrist worn pulse oximeters are used for measuring oxygen saturation level.
Rise in prevalence of hypertension coupled with rapidly aging population, rise in major risk factors for hypertension, growing awareness towards timely control and effective management of hypertension, and increased preference for self-monitoring are set to drive the demand for these monitoring devices. However, low awareness about the benefits of using these devices for monitoring purpose in developing countries will restrain the market growth.
Blood pressure monitoring devices segment dominates the global vital sign monitoring devices market in 2016, due to high prevalence of chronic diseases such as hypertension, diabetes and other lifestyle related disorders. Pulse oximeters segment is anticipated to exhibit fastest growth during the forecast period due to rise in occurrence of respiratory diseases such as chronic obstructive pulmonary disease (COPD) globally.
Increased focus of key players on developing innovative monitoring devices to meet the unmet medical needs will further propel the market growth. For instance, in October 2013, iHealth Labs obtained FDA approval for its fingertip pulse oximeter. Likewise, in January 2014, Nonin Medical, Inc. launched its new pulse oximeter, NoninConnect. This oximeter features Bluetooth Smart wireless technology. Similarly, in January 2015, Masimo revealed its fingertip pulse oximeter, MightySat, for personal use. Thus, innovation is set to bring in ample growth opportunities for the manufacturers.
Some of the key players operating in the global vital signs monitoring devices market are, Nonin Medical Inc., Welch Allyn (a subsidiary of Hill-Rom Holdings, Inc.), General Electric Company, SunTech Medical, Inc. (a subsidiary of Halma plc), Masimo Corporation, Nihon Kohden Corporation, Koninklijke Philips N.V, A&D Company, Smiths Group plc., Limited and Contec Medical Systems Co., Ltd.
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Key Findings of the Research Study:
- Blood pressure monitoring devices segment accounted for over half of the overall market in 2016, due to rising incidence of chronic diseases such as hypertension and cardiovascular diseases.
- Digital BP monitors segment held over one-third share of the blood pressure monitoring devices market in 2016 whereas the ambulatory BP monitoring segment is expected to witness fastest growth with high single-digit growth rate during the forecast period.
- Digital thermometers segment held a major share of the temperature monitoring devices market in 2016 whereas infrared thermometers segment is expected to exhibit fastest growth with medium single-digit growth rate over the forecast period.
- North America held over two-fifth share of the global vital signs monitoring devices market in 2016 owing to high prevalence of chronic diseases in the region along with the presence of advanced healthcare infrastructure.
- Asia-Pacific market is expected to witness fastest growth during the forecast period owing to increased disposable income of the population along with presence of high unmet medical needs.
Vital Signs Monitoring Devices Market Segmentation:
- Blood Pressure Monitoring Devices
- Blood Pressure Instrument Accessories
- Digital BP Monitors
- Ambulatory BP Monitors
- Aneroid BP Monitors
- Pediatric Pulse Oximeters
- Hand-held Pulse Oximeters
- Fingertip Pulse Oximeters
- Table-top/Bedside Pulse Oximeters
- Wrist-worn Pulse Oximeters
- Temperature Monitoring Devices
- Infrared Thermometers
- Temperature Strips
- Digital Thermometers
By End User:
- Home Care Settings
- Hospitals & Clinics
- Ambulatory Surgery Centers (ASCs)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates