Vital Signs Monitoring Devices Market

2020 Analysis and Review of Vital Signs Monitoring Devices Market by Product - Monitors, Temperature Measurement Devices, Blood Pressure Measurement Devices, and Standalone Pulse Oximeters for 2020-2030

  • 2020-05-06
  • REP-GB-410
  • 40 Tables
  • 58 Figures
  • 171 pages
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Vital Signs Monitoring Device Adoption to Double Over 2020-2030

Vital signs monitoring devices have made significant strides in a brief period, from single equipment for measuring temperature, pulse, and blood pressure (BP) levels to a one-size-fits-all devices. Driven by advances in healthcare technology, vital signs monitoring devices are becoming commonplace in hospitals, clinics, and ambulatory surgical centers (ASC). Moreover, the healthcare industry is moving from treatment to preventive approach with an aim to offer patient-centric care delivery. Over the following decade, worldwide adoption of vital signs monitoring devices would surge over 2X, following a robust growth path. 

Report Scope

Report Metrics

Details

Base year considered

2019

Actual estimates/ Historical data

2015 - 2019

Forecast period

2020 - 2030

Forecast units

Value (USD) Mn

Segments covered

Product, Mount Type, End User, and Region

Regions covered

North America (US & Canada), Western Europe (UK, Germany, France, Spain, Italy, Russia, BENELUX and Rest of Europe), Latin America (Brazil, Mexico, and  Rest of LA), Eastern Europe (Russia, Poland, and Rest of Eastern Europe) APEJ (China, India, Australia and New Zealand, ASEAN and Rest of APEJ), Japan and MEA (GCC, South Africa, and Rest of MEA)

Key Players

Edwards Lifesciences Corporation Inc., Koninklijke Philips N.V., General Electric Co., Masimo Corporation, Mindray Medical International Limited, Medtronic, Inc., Nihon Kohden Corporation, Smiths Group plc, Dragerwerk AG & Co. KGaA, SunTech Medical, Inc., Spacelabs Healthcare, Inc., and ContecMedical Systems Co., Ltd.

12 major players covered

Report coverage

Revenue forecasts, company share, competitive landscape, growth factors, and trends

Vital Signs Monitoring Devices Market - Key Research Findings

The global vital signs monitoring devices market was valued at US$ 5.2 Bn in 2019. The market is expected to expand at a CAGR of 8.5% during the forecast period of 2020-2030.

  1. Importance of vital signs monitoring devices for use in patient monitoring to help clinicians and continuous technological innovations are primary factors for the growth of market.
  2. Moreover, inclination towards the use of vital signs monitoring devices and growing demand for portable low-cost monitors are also factors expected for driving market growth.
    • North America is expected to account for above 40% of the global vital signs monitoring devices market share by the end of 2030.
  3. North America will continue to be a prominent regional market for vital signs monitoring devices due to increasing awareness to maintain good health among individuals and increase in government funding towards building quality healthcare infrastructure.
  4. The monitors segment is expected to hold around 42% of revenue share in the vital signs monitoring devices market, owing to their importance and increasing use in healthcare centres by clinicians for patients monitoring.
  5. The standalone vital signs monitoring devices segment held a significant market value share, followed by the portable segment, in the vital signs monitoring devices market, and this trend is expected to continue during the forecast period, owing to their extensive use in hospitals for the monitoring of vital signs of patients.
  6. In terms of end user, the hospitals segment will continue to be a prominent end user for vital signs monitoring devices. This is attributed to the availability of vital signs monitoring devices and skilled personnel for better clinical diagnosis and management of various diseases in these settings.

Key Factors Shaping Vital Signs Monitoring Devices Market

Importance of Vitals Sign Monitoring Tests in Home Care Settings

Vital signs monitoring equipment parameters include measuring blood pressure, temperature, heart rate, and respiratory rate. Vital sign monitors play a crucial role in detecting weakening vital signs such as abnormal breathing, undetectable pulse, and impaired blood flow to the heart, which serve to indicate the probability of cardiac arrest. This enables the physician to decide whether the patient needs to be admitted in an intensive care unit (ICU) so that immediate and appropriate treatment can be administered. In such cases, vital sign monitoring devices such as sphygmomanometers, automated blood pressure monitors, and pulse oximeters play important roles in decision making. The use of vital sign monitoring devices is moderate by end users in home care settings, but adoption is projected to increase significantly in the near future.

Expanding Application in Sports Industry

Vital signs monitoring devices find extensive application in sports and fitness-related industries, and aid in monitoring vital signs, especially heart rate. Advancements in wearable health applications have led to innovations in headsets, headbands, and sport shirts, which measure brainwaves and vital signs of the human body.

For instance, Biodevices developed the first medically-certified vital sign monitoring device – Vital Jacket – which is an ambulatory ECG/Holter device that combines a wearable application with biomedical engineering solutions. Vital Jacket assesses heart-related problems of the wearer on a daily basis to enable an accurate interpretation of the health status. Results generated are processed to establish and track trends, allow maintenance of a result chart, and alert the wearer if a physician is needed to be consulted. All in all, this will see a growth in the demand for wearable vital signs monitoring devices over the coming years.

Increasing Market Consolidation Activities by Key Market Leaders

Companies in the global vital signs monitoring devices market are seeking to consolidate their position through acquiring small and medium manufactures in the landscape. Manufacturers are making strategies to expand their products portfolios in the vital signs monitoring devices market through mergers, acquisitions, and collaborations. Bigger players are focusing on the acquisition of small and medium market players. This trend is being observed across North Americas and European countries. For example, in April 2019, Edward completed the acquisition of CAS Medical Systems, Inc., a medical technology company dedicated to noninvasive monitoring of tissue oxygenation in the brain.

Moving ahead, various players will be launching devices and solutions to treat patients having COVID-19 and other respiratory issues. The COVID-19 pandemic is overwhelming the healthcare industry, and, as such, market players must grab this opportunity to sustain their revenue pool. For instance, Masimo Corporation announced a full market release of the masimo SafetyNet, a remote patient management solution designed to aid COVID-19 response efforts. Medtronic has launched two new solutions designed to monitor and triage support for patients showing COVID-19 symptoms.

Vital Signs Monitoring Devices Market: Structure Analysis

  • Key players continue to increase their market share with the launch of new innovative products in the market.
  • Major players focus on inorganic growth strategies to have a stronghold on targeted in-licensing and expanding their distribution channels, particularly in their specialist retail chains.
  • The vital signs monitoring devices market is characterised as a consolidated market, and is likely to remain dynamic, growing at a steady pace throughout the forecast period. Approximately 60% - 65% share of the market is held by tier-1 players

Stakeholders to Reallocate Resources to Portable Devices

At present, standalone vital signs monitoring devices capture a greater revenue share as compared to portable variants. By 2022, standalone devices worth over US$ 4 Bn would be utilized in healthcare settings. However, the trend is poised to reverse towards the end of the projection period. The coronavirus (COVID-19) pandemic has raised a critical challenge for the healthcare industry, as it continues to take a humanitarian toll. Countries, where the situation is dire, are providing outpatient care delivery, thus, accenting the need for portable vital signs monitoring devices.

Regional Outlook of Vital Signs Monitoring Devices Market

North America has been a test bed for tech-enabled advancements in the healthcare industry, including remote and wireless vital signs monitoring devices. The region is characterized by a well-established ecosystem of prominent vital signs monitoring devices market players. Conducive regulatory environment and reimbursement policies are having a measurable influence on the regional market. As North America houses a notable share of geriatrics cohort, adoption of accurate highly effective vital signs monitoring devices is expected to speed up in the near term for treating interminable diseases such as diabetes. 

Sports Industry to Offer Potential Growth Avenues

Vital signs monitoring devices find immense utilization in the sports industry, wherein, they help monitor vital signs, especially heart rate. Advances in wearable medical devices have spurred innovations in headsets, headbands, and sport shirts that measure the brainwaves and vital signs of the human body.

Case in point, Biodevices has developed a medically-certified vital sign monitoring device, Vital Jacket, which is an ambulatory ECG/Holter device that combines wearable devices with biomedical engineering solutions. Vital Jacket examines heart-related issues of wearers regularly to capture accurate interpretation of the health status. Results gathered are interpreted to monitor trends, and notify wearers if they require medical visits.

High preference for monitors

Temperature measurement devices to pick pace

Standalone devices remain high in demand

Portable devices to gain rapid momentum

Hospitals remain primary end user

Adoption in home care settings to soar

How Growth will Unfold

Market players continue to view hospitals as immediate end users of vital signs monitoring devices, attributed to the expanding patient pool and greater financing capacity for these devices. Coupled with software solutions, vital signs monitoring devices are connected in comprehensive platforms where healthcare personnel easily examine the vital signs of patients in single dashboard. Going ahead, vital signs monitoring devices will experiencing demand upheaval in home care settings, as more patients are opting for post-surgical recovery and prolonged care. In addition, patient centered medical home services are relatively cost-effective as compared to hospital stays.

Vital Signs Monitoring Devices Market by End User

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

A recent market study published by Future Market Insights (FMI) on the vital signs monitoring devices market offers global industry analysis of 2015-2019 and opportunity assessment for 2020-2030. The report consists of a comprehensive assessment of the most important market dynamics. On conducting thorough research on the historical as well as current growth parameters of the vital signs monitoring devices market, growth prospects of the market are obtained with maximum precision. The report features unique and salient factors that may have a huge impact on the development of the vital signs monitoring devices market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the market in the coming years. The report provides detailed information about the current and future growth prospects of the vital signs monitoring devices market in the most comprehensive way for better understanding of the readers. 

Vital Signs Monitoring Devices Market Taxonomy

FMI’s study on the vital signs monitoring devices market offers information divided into four important segments - product, mount type, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Product

  • Monitors
    • Low Acuity Monitors
    • Mid Acuity Monitors
    • High Acuity Monitors
  • Temperature Measurement Devices
    • Liquid-filled Thermometers
    • Digital Thermometers
    • Infrared Thermometers
  • Blood Pressure Measurement Devices
    • Sphygmomanometers
    • Automated Blood Pressure Monitors
  • Standalone Pulse Oximeters

Mount Type

  • Standalone
  • Portable

End User

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Home Care Settings

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

What's Included

The report commences with the executive summary of the vital signs monitoring devices market report, which includes a summary of the key findings and statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the vital signs monitoring devices market as well as the key trends impacting the market.

Readers can find a detailed taxonomy and product definition of the vital signs monitoring devices market, in this chapter, which will help them understand the basic information about these devices.

This section highlights the key trends impacting the vital signs monitoring devices market, which will help readers understand the current trends and their impact on market growth.

This section explains the current and future market volume (in ‘000 Units) projections and the growth trend. Readers can also get knowledge about the current volume of vital signs monitoring devices, by region/ country and historical market volume (in ‘000 Units) of global vital signs monitoring devices market.

The report covers the pricing analysis of the market on the basis of region and other attributes in this chapter. It will help readers find comparative analysis of product pricing across different regions of the globe.

This section explains the global market value analysis and forecast for the vital signs monitoring devices market during the forecast period, along with the historical market and opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020-2030).

This chapter explains the key macroeconomic factors that are expected to influence the growth of the vital signs monitoring devices market during the forecast period. The chapter also highlights the major forecast factors that will shape market growth. This section also provides knowledge about value chain analysis of the market. Besides, it provides key dynamics of the vital signs monitoring devices market, which include the drivers, restraints, and opportunity analysis. This chapter is expected to enable readers understand the factors that are propelling the growth of the market, as well as those that are likely to hamper its growth. The opportunity analysis for the market will help readers understand the market opportunities, based on which they can plan their strategies.

Based on product, the vital signs monitoring devices market is segmented into monitors, temperature measurement devices, blood pressure measurement devices, and standalone pulse oximeters. In this chapter, readers can find information about a detailed analysis of the market by different product of vital signs monitoring devices and their growth over the forecast period.

Based on mount type, the vital signs monitoring devices market is segmented into standalone and portable. In this chapter, readers can find information on market attractive analysis based on mount type.

Based on end user, the vital signs monitoring devices market is segmented into hospitals, clinics, ambulatory surgical centers, and home care settings. In this chapter, readers can find information on market attractive analysis based on end user.

This chapter explains how the vital signs monitoring devices market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and the Middle East & Africa (MEA).

This chapter includes a detailed analysis of the growth of the North America vital signs monitoring devices market along with the country-wise assessment including the U.S. and Canada. Readers can also find key takeaways of this region, and market growth based on product, mount type, end user, and country of vital signs monitoring devices in the North American region.

This chapter includes the growth prospects of the vital signs monitoring devices market in leading countries such as Brazil, Mexico, and the Rest of Latin America. Readers can find thorough information about the growth parameters of the Latin America market during 2020-2030.

Important growth prospects of the vital signs monitoring devices market based on product, mount type, end user, and country in several European countries such as the EU5, BENELUX, and the Rest of Western Europe are included in this chapter.

Important growth prospects of the vital signs monitoring devices market based on product, mount type, end user, and country in several European countries such as Russia, Poland, and the Rest of Eastern Europe are included in this chapter.

China, India, Australia and New Zealand, ASEAN, and the Rest of APEJ are the leading countries/regions in APEJ that are the prime subjects of assessment to obtain the growth prospects of the APEJ vital signs monitoring devices market, in this chapter. Readers can find thorough information about the growth parameters of the market till 2030.

This chapter consists of important parameters that have a huge impact on the growth of the vital signs monitoring devices market in Japan, based on market segmentation, during the forecast period. The chapter also provides an overview of the drivers, restraints, and trends in the Japan vital signs monitoring devices market.

This chapter provides information on how the vital signs monitoring devices market will grow in the major countries in the MEA region, such as GCC Countries, South Africa, and the Rest of MEA during 2020-2030.

In this chapter, readers can find a comprehensive list of all the leading stakeholders in the vital signs monitoring devices market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Players featured in the vital signs monitoring devices market report include Edwards Lifesciences Corporation Inc., Koninklijke Philips N.V., General Electric Co., Masimo Corporation, Mindray Medical International Limited, Medtronic, Inc., Nihon Kohden Corporation, Smiths Group plc, Dragerwerk AG & Co. KGaA, SunTech Medical, Inc., Spacelabs Healthcare, Inc., and ContecMedical Systems Co., Ltd., among others.

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the report.

This chapter helps readers understand the research methodology followed to obtain various conclusions, important qualitative information, and quantitative information about the vital signs monitoring devices market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Product Managers 
  • Business Development Officers 
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders 
  • Raw Material Suppliers
  • Industry Experts
  • End Users
  • Current Market Dynamics and Challenges
  • Yesteryear Trends
  • Market Characteristics
  • Market Performance and Growth Quadrants
  • Competition Structure and Market Structure
  • Strategic Growth Initiatives
  • Near-term and Long-term Market Growth Prospects
  • Market Segment Splits and Authenticity
  • Opinions on Market Projections and Validity of Assumptions

Secondary Research

  • Industry Publications
    • World Health Organizations (WHO)
    • National Institute of Health (NIH)
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Company Websites
  • Morningstar

Primary Interview Splits

Primary Interview Splits vital signs monitoring devices market designation

Primary Interview Splits vital signs monitoring devices market stakeholder

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