The report on the Vital Signs Monitoring Devices market includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the foremost important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely on before investing. It furnishes with an inexpensive examination of the marketplace for better decision-making and assessment to put resources into it. The report analyses the weather and a whole detailed outlook of the foremost players that are likely to feature to the demand within the Vital Signs Monitoring Devices market within the upcoming years.
Main features of the
report:
• To provide detailed
analysis of the market structure together with forecast of the varied segments
and sub-segments of the world Vital Signs Monitoring Devices Market.
• A perfect background
analysis, which has an evaluation of the parent market.
• Important changes in
market dynamics
• Track and analyse
competitive developments like joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments within
the global Vital Signs Monitoring Devices Market.
• Emerging niche segments
and regional markets
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The global vital signs
monitoring devices market size was valued at USD 4.1 billion in 2016 and is
expected to reach USD 7.1 billion by 2025, with a CAGR of 6.5%. Vital signs
include the most basic functions of the human body such as breathing rate,
heartbeat, blood pressure and temperature. Patient monitoring devices, the
parent market for vital signs monitoring devices, comprises devices that are
used for hemodynamic, neurologic and brain functions. To check the level of
physical performance, these vital signs are watched, measured and monitored.
The application of vital
sign monitoring devices is expanding in the sports industry as well. Hands free
human-computer interaction makes it a choice for many, making things easier to
handle and obtaining streamlined diagnosis The open communication channel with
the doctors make these devices reliable for people to adopt indicating the
positive future growth in the segment.
The vital sign monitoring
devices can be segmented on the basis of product, end use and mount type. The
product can be segregated into monitors, mid acuity monitors, high acuity monitors,
temperature measurement devices, digital thermometers, infrared thermometers,
blood pressure measurement devices, automated blood pressure thermometers,
standalone pulse oximeters and liquid filled thermometers. Vital signs
monitoring devices are used in hospitals, ambulatory, clinics, surgical centers
and home care settings. Vital signs device can be standalone and portable.
The market is comprised of
emergency support, care services and devices. The recent trend of being treated
at home in order to minimize the hospital expenditure and gain a cost advantage
is expected to help the industry soar new heights. The convenience of being
treated at home in the known environment is the most preferred choice of the
patients which shows the industry is expected to be progressing with changing
trends.
The health policies that
enable a person to avail the services at a certain rate is also contributing to
the growth percent of these monitoring devices. The demand for these devices
such as blood pressure measurement devices, liquid filled thermometers and
pulse oximeters is increasing in number which represents the signs of growth in
the industry. The technology is specially designed for ill and aged population
for whom the home healthcare is important.
Increase in Gross Domestic
Product per capita leads to increasing health care expenditure which drives the
industry growth rate. Investments have been increasing on healthcare by
corporate groups that provides significant growth rate for the monitoring
devices. Some of the benefits of the monitoring devices are reduction in
hospitalization rates, office follow ups. Shortage of the healthcare
professionals is also one of the major drivers in the U.S. With increase in the
levels of population, the chronic diseases such as asthma, COPD and
hypertension are outgrowing in number. Obesity is one of the major concern that
people share due to unhealthy lifestyle, this results in hypertension. All
these factors are expected to increase the market for monitoring devices in the
coming seven years.
Certain wearable medical
devices have also been introduced that act as biosensors and monitor and
capture psychological data. They also provide feedback, local processing and
reports. They offer solutions to both health care providers and physicians. The
large number of ongoing innovations and projects, ease of use of medical
devices, and growing capabilities & accuracy of such devices is expected to
favorably impact market growth.
Certain drawbacks in this
market are issues in reimbursement, lack of awareness in the developing
countries such as India, Brazil, Mexico, and high cost associated with these
devices. The U.S due to its preexisting high penetration and limited scope for
the addition of hospitals is expected to drive the future growth of this
market. Americans suffer from hypertension and obesity which shall play a key
role in the development of the market.
Increasing population of
diabetic patients in Asia Pacific serves as an indicator that this region is
expected to hold the maximum number of consumers for such devices, thereby
exhibiting positive growth prospects. North America is the major region that
holds the largest market share with maximum number of consumers followed by
Europe. Certain new developing markets such as India, China and Japan are also
expected to possess high revenue in the coming seven years due to increased
health awareness among people and change in their lifestyle.
Key industry participants
include Welch Allyn, Inc., SunTech Medical, Inc., Spacelabs Healthcare, Inc.,
Smiths Group plc, Nihon Kohden Corporation, Mindray Medical International
Limited, Masimo Corporation, Koninklijke Philips N.V., General Electric Co.,
Dragerwerk AG & Co. KGaA, Covidien Public Limited, ContecMedical Systems
Co., Ltd, CAS Medical Systems, Inc. The major competitors are focusing on
increasing their market share in emerging countries and new product
development.
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