Vital Signs Monitoring Market - Forecast(2020 - 2025)

Vital Signs Monitoring Market Overview:

Approximately 200,000 in-hospital cardiac arrests amongst adults occur annually in the U.S.[1] This has rendered the hospital staff with complete reliance on early identification of risks with the help of vital signs monitoring and visual assessment. This has provided noticeable impetus to the vital signs monitoring market, which continuously gains considerable demand from hospitals worldwide. Though consumers can now buy wearable devices, which serve as vital signs monitoring apparatus, but hospitals and clinics will remain the primary end-users for this market. This application segment is evaluated to attain to grow with a CAGR of 7.33% during the forecast period of 2019-2025.

The vital signs monitoring market will grow due to rise of health awareness and chronic illnesses. In 2018, the global market size stood at $4,426.28 million, which is expected to grow at a CAGR of 6.28%.

Vital Signs Monitoring Market Outlook:

North America has been making consistent developments in vital signs monitoring market. NCBI in accordance with the U.S. government and National Institutes of Health has conducted and published multiple studies on the direction of this market and how most importantly wearables have become the most prevalent sources of vital signs monitoring. North America led the global vital signs monitoring market with a regional share of 37% in 2018.

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Vital Signs Monitoring Market Growth Drivers:

· Increase in Mortality Rate

According to NCBI, an increase in mortality rate is associated with delay in diagnosis of early signs of patient deterioration. Consistent and timely measurement of patients’ vital signs is imperative for clinically assessing their health.

· Rising Health Awareness

Consumers are becoming increasingly aware of maintaining their lifestyles to evade health issues. Monitoring vital signs is an important component of this strategy as regular records of these signs will help a person in assessing issues with their health.

Vital Signs Monitoring Market Challenges:

A prominent challenge faced by key market players of this market is technical failures in systems. Companies are trying to combat this challenge by making use of testing and measurement practices coupled with digital twin technology in order to avoid failures.

 

Vital Signs Monitoring Market Key Players Perspective:

The vital signs monitoring market has attained noticeable growth due to contributions made by key market players. Some of these companies are A&D Medical, DescriptionKoninklijke Philips N.V., Medtronic plc, Contec Medical Systems, Covidien, GE Healthcare, Masimo, Mindray Medical International Limited, Nihon Kohden Corporation and Boston Scientific Corporation.

Boston Scientific Corporation has developed a vital signs monitoring system which makes use of wireless technology and is called LATITUDE Wireless Communicator. This utilizes a platform built by the same company which collects data from the communicator and provides the patients with clinical enhancement.

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Vital Signs Monitoring Market Trends:

· Wireless Vital Signs Monitoring System

Researchers at University of Connecticut, Department of Biomedical Engineering have recently made possible a vital signs monitoring system that is completely wireless while being inexpensive at the same time. The device makes use of biosensors for procuring patient information such as heart rate, blood pressure, weight, and others. These details are collected through Bluetooth and sent to a computer device for maintaining patient health record.

Vital Signs Monitoring Market Research Scope

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the vital signs monitoring market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. 

Vital Signs Monitoring Market Report: Industry Coverage

The vital signs monitoring market can be segmented on the basis of product type into blood pressure monitoring device, pulse oximeters device, temperature monitoring device, and others.

The vital signs monitoring market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•  North America: The U.S., Canada, Mexico

•  South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•  Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

•  APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•  Middle East and Africa: Israel, South Africa, Saudi Arabia

Reference:

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[1] https://www.ncbi.nlm.nih.gov/

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