Global Vital Sign Monitoring Devices Market, By Product Type (Low Acuity Monitors, Mid Acuity Monitors, High Acuity Monitors, Liquid Filled Thermometers, Digital Thermometers, Infrared Thermometers, Sphygmomanometers, Automated Blood Pressure Monitors, and Standalone Pulse Oximeters), By End User (Hospitals, Clinics, Ambulatory Surgical Center, and Home Care Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,515.9 Million in 2023, exhibiting a CAGR of 9.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focusing on the adoption of organic growth strategiessuch as product launches to expand their product portfolio, and this is expected to drive the market growth over the forecast period. For instance, on April 13, 2023, Honeywell Sensing & Safety Technologies, a healthcare providerthat provides every patient high-quality care where and when they need it, launched real-time health monitoring system. The system uses advanced sensing technology to monitor vital sign and transmits data to healthcare providers via mobile devices and an online dashboard.
Global Vital Sign Monitoring Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a positive impact on the global vital sign monitoring devices market growth. For instance, in December 2020, Konica Minolta company provides Digital Printing solutions. , launched a patient monitoring system in Japan, for COVID-19 hospitalized patients with mild to moderate disease treated in isolation zones. This patient monitoring system enables spot checks of such patients’ vital signs, measured by a pulse oximeter, a thermometer, and a blood-pressure monitor, as well as continuous monitoring data from the pulse oximeter, to be transmitted to the nurses’ station,
Global Vital Sign Monitoring Devices Market- Key Developments
In May 2021, Essence SmartCare company creates innovative technologies that enable people to enjoy the comfort of aging at home, launched VitalOn, a comprehensive remote patient monitoring (RPM) platform, for active seniors and older adults living with chronic conditions. The system is always on, and provides continuous monitoring and chronic conditions management for a wide range of healthcare needs, both at home and on- the- go.
In March 2022, the U.S. Food and Drug Administration granted clearance to Biobeat’s is a company health-AI and ML on big-data in order to provide actionable insights on patient care. wearable remote patient monitoring device to monitor respiratory rate, body temperature, cuffless blood pressure, blood oxygen saturation, and pulse rate.
In 2020, Nihon Kohden, a developer of precision medical products and services, launched its Life Scope SVM-7200 Series vital sign monitor, a monitor designed for outpatient facilities and beds that traditionally are not monitored. The monitor allows healthcare practitioners to quickly and easily measure three vital sign —blood oxygen, blood pressure, and temperature.
Browse 32 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Vital Sign Monitoring Devices Market, By Product Type (Low Acuity Monitors, Mid Acuity Monitors, High Acuity Monitors, Liquid Filled Thermometers, Digital Thermometers, Infrared Thermometers, Sphygmomanometers, Automated Blood Pressure Monitors, and Standalone Pulse Oximeters), By End User (Hospitals, Clinics, Ambulatory Surgical Center, and Home Care Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/vital-sign-monitoring-devices-market-2703
Key Takeaways of the Global Vital Sign Monitoring Devices Market:
- Global vital sign monitoring devices market is expected to exhibit a CAGR of 9.6% during the forecast period, due to increasing emergence of COVID-19. For instance, in November 2021, according to a research study published in the "Cost-Effective Vital Signs Monitoring System for COVID-19 Patients in Smart Hospital", due to the increasing number of case of COVID-19 patients, providers needed to increase monitoring devices and develop new devices and the researchers of the study developed a simple, reliable, and cost-effective microcontroller-based wireless vital signs monitoring system with high mobility and low power consumption that can measure the body temperature (BT),heart rate (HR), saturation of peripheral oxygen (SpO2), respiration rate (RR), and electrocardiogram (ECG) of patients for large hospitals, and it was found to be accurate and safe.
- Among product type, automated blood pressure monitors segment is expected to dominant the global vital sign monitoring devices market over the forecast period. For instance, in October 2021, according to the World Health Organization, proportion of the world’s population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion by 2030.
- Among region, North America is expected to be the dominant region in the global vital sign monitoring devices market, owing to increasing adoption of digital healthcare technological advancement by key market players, in order to expand their product portfolio and strengthen their market presence. For instance, in April 2023, Honeywell provides products, software and connected solutions that improve productivity, workplace safety and asset performance announced it has developed a real-time health monitoring system, which captures and records patients' vital signs both within the hospital setting and remotely.
- Major players operating in the global vital sign monitoring devices market include CAS Medical Systems, Inc., Koninklijke Philips N.V., General Electric Co. (GE), Masimo Corporation, Mindray Medical International Limited, Medtronic, Nihon Kohden Corporation, Smiths Group plc., Dragerwerk AG & Co. KGaA, SunTech Medical, Inc., Welch Allyn, Inc., Spacelabs Healthcare, Inc., Contec Medical Systems Co., Ltd., Iradimed Corporation, and Xenoma.
