The global vital signs monitoring devices market was valued at $4,655.9 million in 2018 and is projected to reach $7,813.5 million by 2026, registering a CAGR of 6.6% from 2019 to 2026. The global vital signs monitoring devices market is expected to witness a significant growth during the forecast period, owing to increase in importance of vital signs monitoring devices in home care settings and improved reimbursement scenario in developed countries. In addition, surge in geriatric population and rise in incidence rate of cardiovascular disorders such as hypertension and other preexisting health conditions including COPD, sleep apnea, and infectious diseases fuel the demand for vital signs monitoring devices, globally.
Moreover, increase in use of vital signs monitoring devices for fitness monitoring and rise in ambulatory surgery centers across various countries, which use vital signs monitoring devices routinely, foster the market growth. However, lack of awareness about these devices in low- and middle-income countries hamper the market growth.
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Vital signs monitoring devices are used for measurement of vital parameters, including blood pressure, heart rate, respiratory rate, & body temperature, and helps in monitoring physical functioning of the body. They offer clinically relevant information regarding the health status of patients. This information plays a vital role in identifying presence of any acute medical problem or chronic disease state. Vital signs of a patient are recorded at emergency departments, pre- and post-surgery, and during treatment at hospitals.
The vital signs monitoring devices market is segmented on the basis of product type, end user, and region. By product type, the market is divided into blood pressure monitoring devices, pulse oximeters, and temperature monitoring devices. Under the blood pressure monitoring devices, the market is further divided into aneroid BP Monitors, digital BP monitors, blood pressure instrument accessories and ambulatory BP monitors. Under the pulse oximeters segment, the market is further classified into table-top/bedside pulse oximeters, fingertip pulse oximeters, hand-held pulse oximeters, wrist-worn pulse oximeters and pediatric pulse oximeters. Under the temperature monitoring devices segment, the market is further segmented into mercury-filled thermometers, digital thermometers, infrared thermometers and temperature strips. By end user, the market is segregated into hospitals & clinics, ambulatory surgery centers, and home care settings. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Prominent players have adopted product development, product launches, approvals, and clinical trials as their key developmental strategies for expanding their product portfolio. For instance, on November 5, 2019 Philips launched next-gen vital signs monitor “EarlyVue VS30” for early diagnosing and patient intervention. The device captures medical data from a patient and transmits it to hospital’s medical records, thereby enhancing patient treatment and reducing errors. Moreover, reimbursement policies for these devices fuel the demand for vital signs monitoring products. For instance, Medicare offers reimbursement for pulse oximeters used for a pulmonary disease(s) in case of using diagnosis code ICD-9-CM, which describes a patient’s condition and motive of using the service or procedure. The present procedural technology identifies three codes for oximetry, namely, 94760, 94761, and 94762.
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It also discusses the segmentation analysis based on product type and application that is presented in the report. The major studies, market growth rate, competitive environment, market drivers, trends, concerns, and macroscopic indicators, are all summarized. The report studies the SWOT analysis of each player profiled in this section, their products, production, value, capacity, and other crucial criteria.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
? This report provides a detailed quantitative analysis of the current market trends and future estimations from 2019 to 2026, which assists to identify the prevailing market opportunities.
? An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
? A comprehensive analysis of the factors that drive and restrain the growth of the global laparoscopy devices market is provided.
? An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET PLAYERS
– Hill-Rom Holdings, Inc.
– Halma plc (SunTech Medical, Inc.)
– Nonin Medical, Inc.
– Omron Corporation
– Masimo Corporation
– General Electric Company
– Medtronic plc
– Nihon Kohden Corporation
– Koninklijke Philips N.V.
– A&D Company, Limited
– Contec Medical System Co., Ltd
– Smiths Group plc.
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KEY MARKET SEGMENTS
– By Product Type
o Blood Pressure Monitoring Device
– Aneroid BP Monitors
– Digital BP Monitors
– Blood Pressure Instrument Accessories
– Ambulatory BP Monitors
o Pulse Oximeters
– Table-top/Bedside Pulse Oximeters
– Fingertip Pulse Oximeters
– Hand-held Pulse Oximeters
– Wrist-worn Pulse Oximeters
– Pediatric Pulse Oximeters
o Temperature Monitoring Device
– Mercury-filled Thermometers
– Digital Thermometers
– Infrared Thermometers
– Temperature Strips
– By End User
o Hospitals & Clinics
o Ambulatory Surgery Centers (ASCs)
o Home Care Settings
– By Region
o North America
– U.S.
– Canada
– Mexico
o Europe
– Germany
– France
– UK
– Italy
– Spain
– Russia
– Rest of Europe
o Asia-Pacific
– Australia
– Japan
– India
– China
– Taiwan
– Thailand
– Indonesia
– South Korea
– Rest of Asia-Pacific
o LAMEA
– Brazil
– Turkey
– Venezuela
– Colombia
– Saudi Arabia
– South Africa
– Argentina
– Rest of LAMEA
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
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