Vital Sign Monitors Market By Product Type (Standalone Monitoring Devices [Blood Pressure Monitoring Devices {Mercury Blood Pressure Monitors, Aneroid Blood Pressure Monitors, Automated Blood Pressure Monitors, And Others}, Pulse Oximeters {Fingertip Pulse Oximeters, Handheld Pulse Oximeters, Bench Top Pulse Oximeters, And Wearable Pulse Oximeters}, Temperature Monitoring Devices {Digital Thermometers, Infrared Thermometers, And Others}, Others] And Combined Monitoring Devices), By End-User (Hospitals, Clinics, Home Care Settings, And Others), by geography is projected to grow at a significant CAGR forecast till 2027 due to the rising burden of geriatric population and increasing prevalence of lifestyle-associated chronic disorders.
The global vital sign monitors market was valued at USD 8.19 billion in 2021, growing at a CAGR of 7.94% during the forecast period from 2022 to 2027, to reach USD 12.96 billion by 2027. The rise in demand for vital sign monitors is primarily attributed to the growing burden of the old age population across the globe, increase in the prevalence of a variety of lifestyle-associated disorders such as respiratory disorders, cardiology disorders, among others. Moreover, constant efforts of the key manufacturers for developing technologically advanced vital sign monitoring devices, and the rise in approval of the products portfolio, among others are the factors responsible for the growth of vital sign monitoring devices.
Vital sign monitors are gaining momentum in recent years owing to the rising burden of the geriatric population worldwide. This is because old age people are at a higher risk of developing various chronic disorders which makes it necessary to continuously measure the performance of the vital organs. For instance, according to the statistics published in the United Nation's World Population Ageing in the year 2020, there were approximately 727 million persons in the world who were aged 65 years or over in the same year. Also, the same highlights estimated that by the year 2050, the overall old age population worldwide will double, reaching over 1.5 billion.
Additionally, the rising prevalence of lifestyle-associated disorders is also one of the leading factors responsible for the growing demand for vital sign monitoring devices. According to the World Health Organization (WHO), hypertension is a serious lifestyle disorder that significantly increases the risk of heart, brain, kidney, and other diseases. Moreover, as per the 2021 statistics published by the WHO, approximately 1.28 billion adults aged between 30 and 79 across the globe have hypertension or blood pressure.
Furthermore, an increase in product approval for various vital sign monitoring devices is also anticipated to bolster the market for vital sign monitoring devices. For instance, on February 10, 2021, CardiacSense received CE Mark for its medical-grade watch which is capable of detecting and remotely monitoring atrial fibrillation (AF) and heart rate variability (HRV).
Hence, all the aforementioned factors are projected to augment the global market for vital sign monitors during the forecasted period.
Certain factors such as high cost associated with the certain product type and user readiness and unresponsiveness of some monitoring devices are expected to limit the growth of the vital sign monitors market.
Additionally, the unprecedented COVID-19 pandemic had a positive impact on the vital sign monitoring devices market. This is because of the recent expansion in the use of vital sign monitors by the FDA to enable remote patient care during COVID-19 emergencies to reduce hospital visits in order to minimize the risk of coronavirus exposure. Moreover, the pandemic also allowed the local manufacturers to launch new products for remotely measuring the patient's body temperature, respiratory rate, and others. For instance, in June 2020, DetelPro, an Indian-based company launched an infrared thermometer at a very nominal price.
Vital Sign Monitors Market By Product Type (Standalone Monitoring Devices [Blood Pressure Monitoring Devices {Mercury Blood Pressure Monitors, Aneroid Blood Pressure Monitors, Automated Blood Pressure Monitors, and Others}, Pulse Oximeters {Fingertip Pulse Oximeters, Handheld Pulse Oximeters, Bench_Top Pulse Oximeters, and Wearable Pulse Oximeters}, Temperature Monitoring Devices {Digital Thermometers, Infrared Thermometers, and Others}, Others] and Combined Monitoring Devices), By End-User (Hospitals, Clinics, Homecare Settings, and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In the vital sign monitors product segment, the standalone monitoring devices which are further sub-categorized into blood pressure monitoring devices, temperature monitoring devices, pulse oximeters, and others are expected to hold a significant market share during the forthcoming years. This is due to the wide availability of standalone devices in the market. Moreover, the standalone remote vital sign monitoring devices are available Over the Counter (OTC) which also increases the segmental market for vital sign monitors.
Also, the sudden outbreak of the COVID-19 pandemic has raised the demand for pulse oximeters. This is because a person with COVID-19 infection has to ensure that the SpO2 reading stays consistently at or above 90 to 92% which requires continuous monitoring. Moreover, to curb the spread of infection, the demand for non-contact infrared thermometers has increased considerably which ultimately leads to the segmental growth of the vital sign monitors market.
Additionally, the recent product launched in the standalone vital sign monitoring devices product arena will further spur the segmental market of vital sign monitors. For instance, in January 2021, telehealth company Tyto Care has launched its Fingertip Pulse Oximeter (SpO2) medical device for checking blood oxygen saturation levels and heart rate remotely.
Thus all the above-mentioned factors will contribute to the market growth of vital sign monitors.
North America is expected to dominate the overall vital sign monitors market during the forecast period. This domination is due to the growing demand for advanced technologies in remote patient monitoring devices or vital sign monitors, the increasing chronic disease in the region, and others that are driving the regional growth. Moreover, the rising prevalence of respiratory diseases, increased R&D funding, favourable reimbursement for these devices, and the presence of an advanced healthcare system are also the fuelling factors for the vital sign monitors market in the region.
For instance, according to the Centers for Disease Control and Prevention (CDC) 2021 data, approximately 4.6 % of the total American population have been diagnosed with COPD, emphysema, or chronic bronchitis.
Also, as per the data revealed in the year 2021 by the CDC, nearly half of adults in the United States (47%, or 116 million) have hypertension.
Therefore, rising cases of chronic disorders are likely to raise the demand for vital sign monitors in the region.
In addition, the presence of key market players such as Masimo, Nonin Medical Inc, Medtronic, among others is also expected to boost the vital sign monitors market. Also, advanced product launches and commercialization agreements among the key companies are further expected to fuel the market. For instance, recently in March 2021, Nonin Medical, Inc. launched two new disposable products - a single-use wristband and a sensor for use with Nonin's WristOx2 3150, wrist-worn pulse oximeter (SpO2). Nonin's new disposables offer immediate and cost-effective solutions to reduce healthcare provider and patient exposure to infectious agents during the pandemic. Thus, these are some of the factors contributing to the market growth of vital sign monitors in the region.
Further, Europe and the Asia-Pacific region have the future potential growth for the global vital sign monitors market. This is due to the rising burden of chronic diseases in the European region countries and Asia countries also. In all countries, chronic illness rates have been increasing. Several reports have been released annually, mentioning that significant portions of the population in the European Union and the APAC suffer through more than one chronic disorder, such as hypertension, cardiac arrhythmias, sleep apnea, asthma, diabetes, hyperlipidemia, and chronic obstructive pulmonary disease (COPD), for a prolonged period, thus there is an enormous potential for vital signs monitors market growth.
Some of the key market players operating in the Vital Sign Monitors market include Masimo, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION., Nonin Medical, Omron, ACCOSON, Advin Health Care, Lepu Medical Technology, TytoCare Ltd., VYAIRE, SCHILLER, SunTech Medical, Inc., Welch Allyn Inc., Medtronic, GENERAL ELECTRIC COMPANY, Contec Medical Systems Limited, Biobeat, Honsun, Rudolf Riester GmbH, Promed Technology, Infinium Medical, and others.
1. What is Vital Sign Monitors?
Vital signs monitor are the devices that measure the basic medical indicators of health such as temperature, pulse, breathing, and blood pressure. Most of these monitors can store and record thousands of pieces of information.
2. What is the market for Global Vital Sign Monitors?
The global vital sign monitors market was valued at USD 8.19 billion in 2021, growing at a CAGR of 7.94% during the forecast period from 2022 to 2027, to reach USD 12.96 billion by 2027.
3. What are the drivers for Global Vital Sign Monitors?
The major factors driving the demand for vital sign monitors are the rising worldwide prevalence of various lifestyle-associated chronic disorders, the sudden outbreak of the COVID-19 pandemic, the increasing old age population, and recent product approvals, among others.
4. What are the key players operating in Global Vital Sign Monitors?
Some of the key market players operating in the Vital Sign Monitors market include Masimo, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION., Nonin Medical, Omron, ACCOSON, Advin Health Care, Lepu Medical Technology, TytoCare Ltd., VYAIRE, SCHILLER, SunTech Medical, Inc., Welch Allyn Inc., Medtronic, GENERAL ELECTRIC COMPANY, Contec Medical Systems Limited, Biobeat, Honsun, Rudolf Riester GmbH, Promed Technology, Infinium Medical, and others.
5. Which region has the highest share in the Vital Sign Monitors market?
North America is expected to dominate the overall vital sign monitors market during the forecast period, 2022 to 2027. This domination is due to the growing demand for advanced technologies in remote patient monitoring devices or vital sign monitors, the increasing chronic disease in the region, and others that are driving the regional growth. Moreover, the rising prevalence of respiratory diseases, increased R&D funding, favourable reimbursement for these devices, and the presence of an advanced healthcare system are also the fuelling factors for the vital sign monitors market in the region.
This product will be updated with the latest data at the time of order. Consequently, dispatch time for this product will be 7-10 business days.
The global vital sign monitors market was valued at USD 8.19 billion in 2021, growing at a CAGR of 7.94% during the forecast period from 2022 to 2027, to reach USD 12.96 billion by 2027. The rise in demand for vital sign monitors is primarily attributed to the growing burden of the old age population across the globe, increase in the prevalence of a variety of lifestyle-associated disorders such as respiratory disorders, cardiology disorders, among others. Moreover, constant efforts of the key manufacturers for developing technologically advanced vital sign monitoring devices, and the rise in approval of the products portfolio, among others are the factors responsible for the growth of vital sign monitoring devices.
Vital Sign Monitors Market Dynamics:
Vital sign monitors are gaining momentum in recent years owing to the rising burden of the geriatric population worldwide. This is because old age people are at a higher risk of developing various chronic disorders which makes it necessary to continuously measure the performance of the vital organs. For instance, according to the statistics published in the United Nation's World Population Ageing in the year 2020, there were approximately 727 million persons in the world who were aged 65 years or over in the same year. Also, the same highlights estimated that by the year 2050, the overall old age population worldwide will double, reaching over 1.5 billion.
Additionally, the rising prevalence of lifestyle-associated disorders is also one of the leading factors responsible for the growing demand for vital sign monitoring devices. According to the World Health Organization (WHO), hypertension is a serious lifestyle disorder that significantly increases the risk of heart, brain, kidney, and other diseases. Moreover, as per the 2021 statistics published by the WHO, approximately 1.28 billion adults aged between 30 and 79 across the globe have hypertension or blood pressure.
Furthermore, an increase in product approval for various vital sign monitoring devices is also anticipated to bolster the market for vital sign monitoring devices. For instance, on February 10, 2021, CardiacSense received CE Mark for its medical-grade watch which is capable of detecting and remotely monitoring atrial fibrillation (AF) and heart rate variability (HRV).
Hence, all the aforementioned factors are projected to augment the global market for vital sign monitors during the forecasted period.
Certain factors such as high cost associated with the certain product type and user readiness and unresponsiveness of some monitoring devices are expected to limit the growth of the vital sign monitors market.
Additionally, the unprecedented COVID-19 pandemic had a positive impact on the vital sign monitoring devices market. This is because of the recent expansion in the use of vital sign monitors by the FDA to enable remote patient care during COVID-19 emergencies to reduce hospital visits in order to minimize the risk of coronavirus exposure. Moreover, the pandemic also allowed the local manufacturers to launch new products for remotely measuring the patient's body temperature, respiratory rate, and others. For instance, in June 2020, DetelPro, an Indian-based company launched an infrared thermometer at a very nominal price.
Vital Sign Monitors Market Segment Analysis:
Vital Sign Monitors Market By Product Type (Standalone Monitoring Devices [Blood Pressure Monitoring Devices {Mercury Blood Pressure Monitors, Aneroid Blood Pressure Monitors, Automated Blood Pressure Monitors, and Others}, Pulse Oximeters {Fingertip Pulse Oximeters, Handheld Pulse Oximeters, Bench_Top Pulse Oximeters, and Wearable Pulse Oximeters}, Temperature Monitoring Devices {Digital Thermometers, Infrared Thermometers, and Others}, Others] and Combined Monitoring Devices), By End-User (Hospitals, Clinics, Homecare Settings, and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In the vital sign monitors product segment, the standalone monitoring devices which are further sub-categorized into blood pressure monitoring devices, temperature monitoring devices, pulse oximeters, and others are expected to hold a significant market share during the forthcoming years. This is due to the wide availability of standalone devices in the market. Moreover, the standalone remote vital sign monitoring devices are available Over the Counter (OTC) which also increases the segmental market for vital sign monitors.
Also, the sudden outbreak of the COVID-19 pandemic has raised the demand for pulse oximeters. This is because a person with COVID-19 infection has to ensure that the SpO2 reading stays consistently at or above 90 to 92% which requires continuous monitoring. Moreover, to curb the spread of infection, the demand for non-contact infrared thermometers has increased considerably which ultimately leads to the segmental growth of the vital sign monitors market.
Additionally, the recent product launched in the standalone vital sign monitoring devices product arena will further spur the segmental market of vital sign monitors. For instance, in January 2021, telehealth company Tyto Care has launched its Fingertip Pulse Oximeter (SpO2) medical device for checking blood oxygen saturation levels and heart rate remotely.
Thus all the above-mentioned factors will contribute to the market growth of vital sign monitors.
North America is expected to dominate the Overall Vital Sign Monitors Market:
North America is expected to dominate the overall vital sign monitors market during the forecast period. This domination is due to the growing demand for advanced technologies in remote patient monitoring devices or vital sign monitors, the increasing chronic disease in the region, and others that are driving the regional growth. Moreover, the rising prevalence of respiratory diseases, increased R&D funding, favourable reimbursement for these devices, and the presence of an advanced healthcare system are also the fuelling factors for the vital sign monitors market in the region.
For instance, according to the Centers for Disease Control and Prevention (CDC) 2021 data, approximately 4.6 % of the total American population have been diagnosed with COPD, emphysema, or chronic bronchitis.
Also, as per the data revealed in the year 2021 by the CDC, nearly half of adults in the United States (47%, or 116 million) have hypertension.
Therefore, rising cases of chronic disorders are likely to raise the demand for vital sign monitors in the region.
In addition, the presence of key market players such as Masimo, Nonin Medical Inc, Medtronic, among others is also expected to boost the vital sign monitors market. Also, advanced product launches and commercialization agreements among the key companies are further expected to fuel the market. For instance, recently in March 2021, Nonin Medical, Inc. launched two new disposable products - a single-use wristband and a sensor for use with Nonin's WristOx2 3150, wrist-worn pulse oximeter (SpO2). Nonin's new disposables offer immediate and cost-effective solutions to reduce healthcare provider and patient exposure to infectious agents during the pandemic. Thus, these are some of the factors contributing to the market growth of vital sign monitors in the region.
Further, Europe and the Asia-Pacific region have the future potential growth for the global vital sign monitors market. This is due to the rising burden of chronic diseases in the European region countries and Asia countries also. In all countries, chronic illness rates have been increasing. Several reports have been released annually, mentioning that significant portions of the population in the European Union and the APAC suffer through more than one chronic disorder, such as hypertension, cardiac arrhythmias, sleep apnea, asthma, diabetes, hyperlipidemia, and chronic obstructive pulmonary disease (COPD), for a prolonged period, thus there is an enormous potential for vital signs monitors market growth.
Vital Sign Monitors Market Key Players:
Some of the key market players operating in the Vital Sign Monitors market include Masimo, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION., Nonin Medical, Omron, ACCOSON, Advin Health Care, Lepu Medical Technology, TytoCare Ltd., VYAIRE, SCHILLER, SunTech Medical, Inc., Welch Allyn Inc., Medtronic, GENERAL ELECTRIC COMPANY, Contec Medical Systems Limited, Biobeat, Honsun, Rudolf Riester GmbH, Promed Technology, Infinium Medical, and others.
Recent Developmental Activities in the Vital Sign Monitors Market:
- In November 2020, Masimo received CE marking for its Radius VSM™, a wearable, tetherless vital signs monitor, and is released in limited European markets.
- In October 2020, Nihon Kohden launched NK-HealthProtect™ during COVID-19 in the US. NK-HealthProtect™ Patient Triage Solution is a complete kit that includes SVM-7200 Vital Signs Monitor to help evaluate patients potentially suffering from COVID-19.
- In July 2020, Philips and BioIntelliSense entered into a strategic collaboration to enhance remote patient monitoring for at-risk patients from the hospital into the home.
- Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Vital Sign Monitors market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Vital Sign Monitors Market.
- Various opportunities are available for the other competitor in the Vital Sign Monitors Market space.
- What are the top-performing segments in 2021? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Vital Sign Monitors market growth in the coming future?
Target Audience who can be benefited from the Vital Sign Monitors Market Report Study
- Vital Sign Monitors providers
- Research organizations and consulting companies
- Vital Sign Monitors-related organization, association, forum, and other alliances
- Government and corporate offices
- Start-up companies, venture capitalists, and private equity firms
- Distributors and Traders in Vital Sign Monitors
- Various End-users who want to know more about the Vital Sign Monitors Market and the latest technological developments in the Vital Sign Monitors market.
Frequently Asked Questions for Vital Sign Monitors Market:
1. What is Vital Sign Monitors?
Vital signs monitor are the devices that measure the basic medical indicators of health such as temperature, pulse, breathing, and blood pressure. Most of these monitors can store and record thousands of pieces of information.
2. What is the market for Global Vital Sign Monitors?
The global vital sign monitors market was valued at USD 8.19 billion in 2021, growing at a CAGR of 7.94% during the forecast period from 2022 to 2027, to reach USD 12.96 billion by 2027.
3. What are the drivers for Global Vital Sign Monitors?
The major factors driving the demand for vital sign monitors are the rising worldwide prevalence of various lifestyle-associated chronic disorders, the sudden outbreak of the COVID-19 pandemic, the increasing old age population, and recent product approvals, among others.
4. What are the key players operating in Global Vital Sign Monitors?
Some of the key market players operating in the Vital Sign Monitors market include Masimo, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION., Nonin Medical, Omron, ACCOSON, Advin Health Care, Lepu Medical Technology, TytoCare Ltd., VYAIRE, SCHILLER, SunTech Medical, Inc., Welch Allyn Inc., Medtronic, GENERAL ELECTRIC COMPANY, Contec Medical Systems Limited, Biobeat, Honsun, Rudolf Riester GmbH, Promed Technology, Infinium Medical, and others.
5. Which region has the highest share in the Vital Sign Monitors market?
North America is expected to dominate the overall vital sign monitors market during the forecast period, 2022 to 2027. This domination is due to the growing demand for advanced technologies in remote patient monitoring devices or vital sign monitors, the increasing chronic disease in the region, and others that are driving the regional growth. Moreover, the rising prevalence of respiratory diseases, increased R&D funding, favourable reimbursement for these devices, and the presence of an advanced healthcare system are also the fuelling factors for the vital sign monitors market in the region.
This product will be updated with the latest data at the time of order. Consequently, dispatch time for this product will be 7-10 business days.
Table of Contents
1. Vital Sign Monitors Market Report Introduction6. COVID-19 Impact Analysis on Vital Sign Monitors Market8. Vital Sign Monitors Global Company Share Analysis - Key 3-5 Companies10. KOL Views11. Project Approach12. About the Publisher13. Disclaimer & Contact the Publisher
2. Vital Sign Monitors Market Executive summary
3. Regulatory and Patent Analysis
4. Vital Sign Monitors Market Key factors analysis
5. Vital Sign Monitors Porter's Five Forces Analysis
7. Vital Sign Monitors Market layout
9. Vital Sign Monitors Company and Product Profiles
List of Tables
List of Figures
