Future Outlook of the Vital signs monitoring devices Market: Analyzing Size, Segmentation, and Competitive Landscape By Report Ocean
Introduction
The “ Vital signs monitoring devices “ market’s future trajectory is a topic of paramount importance, necessitating a comprehensive analysis encompassing market size, segmentation, competitive landscape, present conditions, and anticipated trends. Moreover, the ongoing challenges posed by the COVID-19 pandemic also warrant strategic insights for businesses to navigate these circumstances successfully.
Market Size and Segmentation
The Vital signs monitoring devices market’s evolution hinges on understanding its size and segmentation dynamics. This entails delving into aspects like product types, applications, and geographical distribution. By dissecting these facets, a clearer perspective on future growth prospects can be gained.
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The global vital signs monitoring devices market held a market value of USD 4,960.0 Million in 2021 and is estimated to reach USD 8,126.0 Million by the year 2030. The market is projected to list a CAGR of 5.8% during the forecast period.
The vital signs monitoring devices industry is projected to grow at a substantial rate owing to the increasing incidences of chronic and acute diseases, and the rising innovations in area. Moreover, the rising elderly population around the globe contributes substantially towards the rise in the growth rate of the vital signs monitoring devices market. For instance, according to the World Health Organization (WHO), the geriatric population worldwide (aged 60 years and above) is projected to reach around 2 Billion by 2050. Thus, such actions contribute towards the growth rate.
The increasing launches of novel devices and its cost effectiveness is also boosting the market growth. The increasing product launches is a lucrative opportunity for the market growth, and is anticipated to contribute significantly for the growth of the vital signs monitoring devices marketspace.
However, the market is likely to be negatively influenced by the high availability of alternative vital signs monitoring devices. Furthermore, the competitive pricing models is also expected to hinder the market growth.
Growth Influencers:
Increasing incidence rate of chronic diseases
The increasing incidence rates and prevalence of diseases such as CVD, neurological disorders, and cancer are creating huge demand for the adoption of vital signs monitoring systems which in turn increases the demand for advanced system which allows healthcare provider to decrease the time taken and assist in providing treatment at an appropriate time. For instance, according to the World Health Organization, the major diseases that lead to the most deaths from noncommunicable diseases (NCDs) are cardiovascular diseases, cancers, respiratory diseases and diabetes, accounting for more than 80% of all premature NCD deaths. Thus, such statistics aid the demand and growth of the market.
Technological advancement and innovation of new devices
The increase in point of care devices that are accessible to patients from all age groups is driving the market growth. For instance, in April 2021, A&D Company launched a new product in response to the international standard ISO80369 series, home-use brachial blood pressure monitor “A & D Plus series ?. Thus, such innovative product launches propel the market growth.
Segments Overview:
The global vital signs monitoring devices market is segmented into measuring parameters, application, form factor and end user.
By Measuring Parameters,
? Oxygen
? Blood Pressure
? Temperature
? ECG
? Carbon dioxide
? Respiratory
? Heart Rate
? Blood Glucose
? Cardiac output
? Others
The oxygen segment is projected to hold the highest growth rate of 7% over the forecast period. Moreover, the blood pressure segment held the largest market share of more than 25% in 2021. In addition to that, the ECG segment is estimated to cross the mark of USD 1,000 Million revenue by 2028.
By Application,
? Intensive Care
? Veterinary
? Ambulatory
? Emergency
? Clinical
? Transport
? Anesthesia
? Others
The intensive care segment is anticipated to grow at the highest CAGR of 6.7% owing to the increased applications of vital sign monitors in this setting. In addition to that, the ambulatory segment is estimated to hold an opportunity of more than USD 700 Million during 2021 to 2030. Moreover, the transport segment is projected to cross the mark of USD 500 Million revenue by 2024.
By Form Factor,
? Portable
o Handheld
o Wearable
? Compact (Tabletop)
? Modular
? Floor standing
? Tunnel
The portable segment held the largest market share of more than 30% in 2021, whereas the modular segment is projected to hold an opportunity of more than USD 750 Million during 2021-2030.
By End User,
? Hospitals
? Clinics
? Ambulatory Centers
? Home Healthcare
? Veterinary Clinics
The ambulatory centers segment held the highest growth rate of 6.6% over the forecast period owing to the rise in ambulatory services, and the usage of top-notch vital sign monitors in ambulances.
Regional Overview
By region, the global vital signs monitoring devices market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America.
The North America region held the largest market share of more than 35% owing to the increasing strategic as well as research developments by the companies operating in the marketspace. The Asia-Pacific region is projected to grow steadily owing to the increasing population in countries like China and India.
The European region is anticipated to grow at a steady rate owing to the rising awareness regarding newer launches. Moreover, the Middle Eastern and African region is also expected to grow at a substantial rate.
Competitive Landscape
The prominent players operating in the global vital signs monitoring devices market include A&D Company Ltd., Clarity Medical Pvt. Ltd., Contec Medical Systems Co. Ltd, DRE Inc., GE Healthcare, Hill-Rom Holdings, Inc., Koninklijke Philips N.V., Masimo Corporation, Mediaid, Inc., Medtronic plc., Nihon Kohden Corporation, Nonin Medical Inc., Omron Healthcare, Smiths Group plc., SunTech Medical, Inc.
The prominent four players in the market hold approximately 15% of the market share. These market players are investing in collaborations, product launches, mergers, acquisitions, expansions, in order to produce a competitive edge against their counterparts. For instance, in December 2021, Philips received FDA 510(k) clearance for its most advanced acute patient monitors. Philips Patient Monitors IntelliVue MX750 and IntelliVue MX850 pair with advanced software and services to offer clinical decision support.
The global vital signs monitoring devices market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global vital signs monitoring devices market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of vital signs monitoring devices products
? Manufacturing Cost Analysis: Cost-share of various components in vital signs monitoring devices tools
The global vital signs monitoring devices market report answers questions such as:
? What is the market size and forecast of the global vital signs monitoring devices market?
? What are the inhibiting factors and impact of COVID-19 on the global vital signs monitoring devices market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global vital signs monitoring devices market?
? What is the competitive strategic window for opportunities in the global vital signs monitoring devices market?
? What are the technology trends and regulatory frameworks in the global vital signs monitoring devices market?
? What is the market share of the leading players in the global vital signs monitoring devices market?
? What modes and strategic moves are considered favorable for entering the global vital signs monitoring devices market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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