The global sign monitoring market was valued at USD 4,413.53 million in 2018 and is estimated at USD 6,385.73 million in 2024, a CAGR of 6.35%. Growing geriatric population and increasing prevalence and incidence of chronic diseases have led in increased applications of devices monitoring vital signs in emergency and outpatient care. This resulted to growing demand for sophisticated algorithm-based and home care monitoring equipment. The worlds population is aging, according to the UN; every nation in the world is experiencing an increase in the amount and percentage of the elderly in its population. According to information from World Population Prospects: the 2017 Revision, the population of individuals aged 60 and above was estimated at 962 million 13 percent of the total world population globally. The global geriatric population will reach 2,1 billion by 2050. Globally, the 60-year-old population grows quicker than any other age group. According to the UN, Europe currently has the largest proportion of the population aged 60 or older 25% of the ##d European population . Vital signs quantify the physiological functions used to monitor acute and chronic diseases. Vital sign monitoring is essentially a communication tool on patient status. Among the elderly, there is a higher inclination of decreased homeostasis, which makes ideal physiological functions hard for the body. Increasing age is correlated with cardiovascular diseases like hypertension and artery stiffness. Cardiovascular vital sign monitoring becomes an indispensable instrument for disease management. As aging populations are rising across different areas of the globe, there is growing demand for vital sign monitoring devices, fueling these devices market.
Global Vital Sign Monitoring Market Scope of the Report:
The global vital sign monitoring market includes all devices and monitoring services used in hospitals, clinics, outpatient surgical centers and home care environments to measure human bodys four vital signs, i.e. body temperature, heart rate or pulse rate, respiratory rate, and blood pressure.
Global Vital Sign Monitoring Market Key trends:
Hospitals and clinics are expected to maintain the highest end-user market share.
Under market segmentation, hospitals and clinics are thought to have the biggest market size and are anticipated to experience a 6.68 percent CAGR over the forecast period. Over 40 years, vital sign monitoring has been prevalent in hospitals and clinics. These are essential in showing clinical circumstances of a patient. Monitoring blood pressure, pulse rate, and respiration rate is a key element of hospital care. Earlier in hospitals, nursing assistants or engineers were accountable at regular intervals for gathering the vital signs of patients on a planned basis, which used to have mistakes. According to research conducted by medical device manufacturer Welch Allyn, at a typical 200-bed hospital, around 10,000 transcription errors occur every year when information is miscopied or entered in the wrong chart. Vital sign monitoring minimizes likelihood of mistakes, resulting in safer patient care. As patients and suppliers can adopt vital sign monitors for easy surveillance, hospitals are creating more demand for the same. This results in a greater share of end-user clinics.
North America Dominates the Market and Expected to do the Same during the Forecast Period:
Currently, North America dominates the vital sign surveillance market and is anticipated to remain its stronghold for a few years. This region is anticipated to boost its market share in the future, due to the regions well-established healthcare industry and better reimbursement infrastructure. The United States maintains most of the North American regions market, owing to the countrys greater implementation of digital healthcare and increasing investment by the regions businesses.
Global Vital Sign Monitoring Market Competitive Landscape:
The vital sign surveillance industry is extremely competitive, with several significant players. On market share, few significant players presently dominate the market. However, mid-size companies are increasing their market presence by introducing new ingredients with lower prices due to technological advances and product innovations. Companies like A&D Medical, Hill-Rom holdings Inc., Nihon Kohden Corporation, Koninklijke Philips NV, and Medtronic PLC have significant market share.
1.1. Market Definition
1.2. Executive Summary
1.3. The Scope of the Study
CHAPTER 2 RESEARCH METHODOLOGY
2.1. Secondary Research
2.2. Primary Research
2.3. Analytic Tools and Model
2.4. Economic Indicator
2.4.1. Base Year, Base Currency, Forecasting Period
2.5. Expert Validation
2.6. Study Timeline
CHAPTER 3 MARKET ANALYSIS
3.1. Industry Value Chain Analysis
3.2. Porters Five Force Analysis
3.2.1. Bargaining Power of Buyers
3.2.2. Bargaining Power of Suppliers
3.2.3. Threats of Substitutes
3.2.4. Threats of New Entrants
3.2.5. Degree of Competition
3.3. PESTLE Analysis
3.4. SWOT Analysis
3.5. Y-O-Y Analysis
CHAPTER 4 MARKET DYNAMICS
4.1. Market Drivers
4.1.1. Increasing Demand for Home Care Monitoring Equipment
4.1.2. Increasing Demand for Advanced Algorithm-based Monitoring Equipment
4.1.3. Increasing Application in Emergency Medicine and Ambulatory Care
4.1.4. Increasing Geriatric Population
4.2. Market Restraints
4.2.1. Competitive Pricing Pressure and Presence of Counterfeit Products
4.2.2. User Readiness and Unresponsiveness of Some Monitoring Devices
4.3. Market Opportunities
4.4. Market Challenges
CHAPTER 5 GLOBAL VITAL SIGN MONITORING MARKET – BY TYPE OF PARAMETER
5.2. Body Temperature
5.2.1. Digital Temperature Monitoring Devices
5.2.2. Analog Temperature Monitoring Devices
5.2.3. Other Body Temperature Monitoring Devices
5.3. Blood Pressure
5.3.1. Manual BP Monitors
5.3.2. Digital BP Monitors
5.4. Pulse Rate
5.4.1. Fingertip Pulse Oximeters
5.4.2. Hand-held Pulse Oximeters
5.4.3. Other Pulse Rate Monitoring Devices
5.5. Respiratory Rate
5.5.2. Other Respiratory Rate Monitoring Devices
CHAPTER 6 GLOBAL VITAL SIGN MONITORING MARKET - BY END USER
6.2. Hospitals and Clinics
6.3. Ambulatory Surgical Centers
6.4. Home Care Settings
CHAPTER 7 GLOBAL VITAL SIGN MONITORING MARKET - BY GEOGRAPHY
7.2. North America
7.2.4. Costa Rica
7.3. South America
7.5. Asia Pacific
7.5.4. South Korea
7.5.5. Australia & New Zealand
7.6. Middle East & Africa
7.6.2. Saudi Arabia
7.6.6. South Africa
CHAPTER 8 GLOBAL VITAL SIGN MONITORING MARKET - COMPANY PROFILES
8.2. OSI Systems Inc.
8.3. GE Healthcare
8.4. Mindray Medical International Limited
8.5. Contec Medical Systems
8.6. Medtronic PLC
8.7. Koninklijke Philips NV
8.8. Nihon Kohden Corporation
8.9. Hill-Rom holdings Inc.
8.10. A&D Medical
CHAPTER 9 GLOBAL VITAL SIGN MONITORING MARKET - COMPETITIVE LANDSCAPE
9.1. Market Share Analysis
9.2. Strategies adopted by top companies
9.3. Mergers, Acquisitions, Collaborations & Agreements
CHAPTER 10 MARKET INSIGHTS
10.1. Industry Experts Insights
10.2. Analysts Opinions
10.3. Investment Opportunities
CHAPTER 11 APPENDIX
11.1. List of Tables
11.2. List of Figures
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