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Vital Signs Monitoring Devices Market by Product, by End-user, and by Region - Global Forecast to 2023-2033

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    Report

  • 200 Pages
  • January 2023
  • Region: Global
  • Quintana Research and Consulting
  • ID: 5717229
The vital signs monitoring devices market size is estimated to be USD 9,452.4 million in 2022 and is expected to witness a CAGR of 9.51% during the forecast period 2023-2033. Rise in the number of vital sign monitoring device approvals and increase in healthcare settings are some of the factors projected to drive the market growth in near future. Furthermore, surge in the demand for home healthcare devices and escalating incidence of cardiovascular diseases are other factors supporting the market growth. However, high price and unreliability of monitoring devices and are expected to restrain the market growth.

Rise in the number of vital sign monitoring device approvals is expected to fuel the market growth during the projected period. For instance, the wearable remote patient monitoring device from Biobeat was given 510 (k) clearance by the Food and Drug Administration in March 2022 to monitor respiratory rate, cuffless blood pressure, blood oxygen saturation, body temperature, and pulse rate. Vital sign monitoring primarily acts as a communication tool regarding patient status as it quantifies physiological processes used for monitoring acute and chronic disorders driving market growth.

Escalating incidence of cardiovascular diseases including hypertension, atrial fibrillation, and stroke, among others is predicted to propel the market growth during the forecast period. For instance, as per the World Health Organization's August 2021 report, 1.28 billion individuals worldwide between the age of 30 and 79 have hypertension with two-thirds of this group residing in low- and middle-income countries. Additionally, according to the same source, 46% of adults do not know they have hypertension. Therefore, in such circumstances, cardiovascular vital sign monitoring turns into an essential tool for managing disease which propels the market for these devices.

Segmentation

By Product

The market is categorized into temperature monitoring devices, blood pressure monitors, and pulse oximeters. In 2022, the blood pressure monitors segment accounted for the highest revenue share due to the rising focus on blood pressure monitoring. Patients are now monitoring their blood pressure as a precaution or preventive step as a result of the rising awareness. This further rising demand for digital blood pressure monitors that operate on their own. In 2022, the segment for pulse oximeters also had a sizable share. The segment is further divided into fingertip, pediatric pulse oximeters, wrist-worn, tabletop/bedside, hand-held, and their accessories. Fingertip pulse oximeters are expected to experience rapid expansion due to their portability and wireless nature. The types of temperature monitoring devices include infrared thermometers, digital thermometers, liquid crystal thermometers, mercury-filled thermometers, and temperature monitoring device accessories. There was advancement in this product category to reduce the risk of mercury, leading to the development of digital thermometers that could measure the temperature more precisely and safely. Mercury is harmful to the environment and also to patients in the event of an accidental breakage in the body cavity.

By End User

The market is segmented into physician’s office, hospitals, ambulatory centers, emergency care centers, and other healthcare settings. In the global market, the hospitals segment accounted for the largest revenue share in 2022 owing to their huge patient population and improved ability to finance these devices. Hospital staff can now conveniently monitor patients' vital signs on a single dashboard due to the connection of these devices to unified platform through software. Every kind of vital sign monitor is necessary in hospitals. Patients are preferring to get treatment, recover from surgery at home, and access long-term care which is expected to lead to a growth in the product demand for in-home healthcare environments. Comparing the cost of home healthcare to a hospital stay, home healthcare is more affordable. Additionally, industrialized nations with developed economies, such as the U.S. and the U.K., have simplified their procedures for paying for medical devices used for home healthcare particularly that monitor vital signs. The demand for these devices in the home healthcare sector can thus rise as the disease burden of NCDs rises.

Regional Markets

In 2022, North America region accounted for the highest revenue in the vital signs monitoring devices market and is expected to maintain its dominance during the forecast period. This is attributed to ageing population, increase in incurable diseases, use of wireless and remote devices, and simplified coverage rules. High demand is caused by the region's high level of demand for healthcare services and high knowledge and accessibility of such services. Europe is predicted to continue to be the second-most profitable region over the forecast period due to rising death rate and increasing demand for treatment that is cost-effective. Asia Pacific is expected to expand at the fastest rate over the forecast period. This due to the huge unmet requirements in this region, particularly in developing countries such as India and China for primary healthcare. Additionally, the expanding healthcare and medical tourism industries in this region have a lot to offer the market players throughout the forecast period.

Competitor Insights

Some of the key players operating in the vital signs monitoring devices market are Masimo, Omron Healthcare, Nihon Kohden Corporation, A&D Company Ltd., Nonin Medical Inc., Koninklijke Philips N.V., Contec Medical Systems Co. Ltd., SunTech Medical, Inc., Medtronic, GE Healthcare, and Spacelabs Healthcare, Inc.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

For instance, Philips declared plans to acquire BioTelemetry, Inc. in February 2021. By integrating the cardiac diagnostics and monitoring equipment from BioTelemetry, this acquisition is anticipated to help Philips expand its patient monitoring portfolio.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product and end user from 2022 to 2033.

Segmentation: Vital Signs Monitoring Devices Market Report 2022 - 2033

Product (Revenue, USD Million), 2022 - 2033

Temperature Monitoring Devices

  • Digital Thermometers
  • Mercury Filled Thermometers
  • Liquid Crystal Thermometer
  • Temperature Monitoring Device Accessories
  • Infrared Thermometers

Blood Pressure Monitors

  • Aneroid Blood Pressure Monitors
  • Mercury Blood Pressure Monitors
  • Ambulatory Blood Pressure Monitors
  • Digital Blood Pressure Monitor
  • Blood Pressure Instrument Accessories

Pulse Oximeters

  • Fingertip Pulse Oximeter
  • Table-top/Bedside Pulse Oximeters
  • Wrist-worn Pulse Oximeters
  • Hand-held Pulse Oximeters
  • Pulse Oximeter Accessories
  • Pediatric Pulse Oximeters

End user (Revenue, USD Million), 2022 - 2033

  • Physician’s Office
  • Hospitals
  • Ambulatory Centers
  • Emergency Care Centers
  • Other Healthcare Settings

By Region (Revenue, USD Million), 2022 - 2033

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM

Middle East & Africa

  • South Africa
  • GCC
  • Rest of MEA

Table of Contents

1. Research Methodology
1.1. Study Objectives
1.2. Study Scope
1.3. Research Framework
1.3.1. Research Models
1.3.1.1. Bottom-up Approach
1.3.1.2. Top-down Approach
1.3.1.3. Data Triangulation
1.3.2. Data Analysis
1.3.2.1. Data Validation
1.3.2.2. Market Size Estimation
1.3.2.3. Market Forecast Model

2. Introduction: Vital Signs Monitoring Devices

3. Executive Summary

4. Market Dynamics
4.1. Market Drivers
4.1.1. Driver 1
4.1.2. Driver 2
4.1.3. Driver 3
4.1.4. Driver 4
4.1.5. Driver 5
4.2. Market Restraint
4.2.1. Restraint 1
4.2.2. Restraint 2
4.2.3. Restraint 3
4.2.4. Restraint 4
4.3. Market Opportunities
4.3.1. Opportunity 1
4.3.2. Opportunity 2
4.3.3. Opportunity 3
4.3.4. Opportunity 4
4.4. Market Trends
4.4.1. Trend 1
4.4.2. Trend 2
4.4.3. Trend 3
4.4.4. Trend 4
4.5. Market Challenges
4.5.1. Challenge 1
4.5.2. Challenge 2
4.5.3. Challenge 3
4.5.4. Challenge 4

5. Market Environment Analysis
5.1. Porter’s 5 Forces Analysis
5.2. PESTEL Analysis
5.3. SWOT Analysis

6. COVID-19 Impact Analysis: Vital Signs Monitoring Devices Market

7. Market Analysis by Product
7.1. Temperature Monitoring Devices
7.1.1. Temperature Monitoring Devices Market Forecast, 2022-2033 (USD Million)
7.1.1.1. Digital Thermometers
7.1.1.1.1. Digital Thermometers Market Forecast, 2022-2033 (USD Million)
7.1.1.2. Mercury Filled Thermometers
7.1.1.2.1. Mercury Filled Thermometers Market Forecast, 2022-2033 (USD Million)
7.1.1.3. Liquid Crystal Thermometer
7.1.1.3.1. Liquid Crystal Thermometer Market Forecast, 2022-2033 (USD Million)
7.1.1.4. Temperature Monitoring Device Accessories
7.1.1.4.1. Temperature Monitoring Device Accessories Market Forecast, 2022-2033 (USD Million)
7.1.1.5. Infrared Thermometers
7.1.1.5.1. Infrared Thermometers Market Forecast, 2022-2033 (USD Million)
7.2. Blood Pressure Monitors
7.2.1. Blood Pressure Monitors Market Forecast, 2022-2033 (USD Million)
7.2.1.1. Aneroid Blood Pressure Monitors
7.2.1.1.1. Aneroid Blood Pressure Monitors Market Forecast, 2022-2033 (USD Million)
7.2.1.2. Mercury Blood Pressure Monitors
7.2.1.2.1. Mercury Blood Pressure Monitors Market Forecast, 2022-2033 (USD Million)
7.2.1.3. Ambulatory Blood Pressure Monitors
7.2.1.3.1. Ambulatory Blood Pressure Monitors Market Forecast, 2022-2033 (USD Million)
7.2.1.4. Digital Blood Pressure Monitor
7.2.1.4.1. Digital Blood Pressure Monitor Market Forecast, 2022-2033 (USD Million)
7.2.1.5. Blood Pressure Instrument Accessories
7.2.1.5.1. Blood Pressure Instrument Accessories Market Forecast, 2022-2033 (USD Million)
7.3. Pulse Oximeters
7.3.1. Pulse Oximeters Market Forecast, 2022-2033 (USD Million)
7.3.1.1. Fingertip Pulse Oximeter
7.3.1.1.1. Fingertip Pulse Oximeter Market Forecast, 2022-2033 (USD Million)
7.3.1.2. Table-top/Bedside Pulse Oximeters
7.3.1.2.1. Table-top/Bedside Pulse Oximeters Market Forecast, 2022-2033 (USD Million)
7.3.1.3. Wrist-worn Pulse Oximeters
7.3.1.3.1. Wrist-worn Pulse Oximeters Market Forecast, 2022-2033 (USD Million)
7.3.1.4. Hand-held Pulse Oximeters
7.3.1.4.1. Hand-held Pulse Oximeters Market Forecast, 2022-2033 (USD Million)
7.3.1.5. Pulse Oximeter Accessories
7.3.1.5.1. Pediatric Pulse Oximeters Market Forecast, 2022-2033 (USD Million)
7.3.1.6. Pediatric Pulse Oximeters
7.3.1.6.1. Pediatric Pulse Oximeters Market Forecast, 2022-2033 (USD Million)

8. Market Analysis by End User
8.1. Physician’s Office
8.1.1. Physician’s Office Market Forecast, 2022-2033 (USD Million)
8.2. Hospitals
8.2.1. Hospitals Market Forecast, 2022-2033 (USD Million)
8.3. Ambulatory Centers
8.3.1. Ambulatory Centers Market Forecast, 2022-2033 (USD Million)
8.4. Emergency Care Centers
8.4.1. Emergency Care Centers Market Forecast, 2022-2033 (USD Million)
8.5. Other Healthcare Settings
8.5.1. Other Healthcare Settings Market Forecast, 2022-2033 (USD Million)

8. Regional Market Analysis
8.1. Regional Market Trends

9. North America Vital Signs Monitoring Devices Market
9.1. North America Vital Signs Monitoring Devices Market
9.1.1. North America Market Size and Forecast, 2022-2033 (USD Million)
9.1.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
9.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
9.2. U.S. Vital Signs Monitoring Devices Market
9.2.1. U.S. Market Size and Forecast, 2022-2033 (USD Million)
9.2.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
9.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
9.3. Canada Vital Signs Monitoring Devices Market
9.3.1. Canada Market Size and Forecast, 2022-2033 (USD Million)
9.3.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
9.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

10. Europe Vital Signs Monitoring Devices Market
10.1. Europe Vital Signs Monitoring Devices Market
10.1.1. Europe Market Size and Forecast, 2022-2033 (USD Million)
10.1.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
10.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.2. Germany Vital Signs Monitoring Devices Market
10.2.1. Germany Market Size and Forecast, 2022-2033 (USD Million)
10.2.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
10.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.3. UK Vital Signs Monitoring Devices Market
10.3.1. UK Market Size and Forecast, 2022-2033 (USD Million)
10.3.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
10.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.4. France Vital Signs Monitoring Devices Market
10.4.1. France Market Size and Forecast, 2022-2033 (USD Million)
10.4.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
10.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.5. Spain Vital Signs Monitoring Devices Market
10.5.1. Spain Market Size and Forecast, 2022-2033 (USD Million)
10.5.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
10.5.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.6. Italy Vital Signs Monitoring Devices Market
10.6.1. Italy Market Size and Forecast, 2022-2033 (USD Million)
10.6.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
10.6.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.7. Rest of Europe Vital Signs Monitoring Devices Market
10.7.1. Rest of Europe Market Size and Forecast, 2022-2033 (USD Million)
10.7.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
10.7.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

11. Asia Pacific Vital Signs Monitoring Devices Market
11.1. Asia Pacific Vital Signs Monitoring Devices Market
11.1.1. Asia Pacific Market Size and Forecast, 2022-2033 (USD Million)
11.1.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
11.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.2. Japan Vital Signs Monitoring Devices Market
11.2.1. Japan Market Size and Forecast, 2022-2033 (USD Million)
11.2.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
11.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.3. China Vital Signs Monitoring Devices Market
11.3.1. China Market Size and Forecast, 2022-2033 (USD Million)
11.3.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
11.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.4. India Vital Signs Monitoring Devices Market
11.4.1. India Market Size and Forecast, 2022-2033 (USD Million)
11.4.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
11.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.5. South Korea Vital Signs Monitoring Devices Market
11.5.1. South Korea Market Size and Forecast, 2022-2033 (USD Million)
11.5.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
11.5.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.5.1.3. Market Size and Forecast by Device, 2022-2033 (USD Million)
11.6. Australia Vital Signs Monitoring Devices Market
11.6.1. Australia Market Size and Forecast, 2022-2033 (USD Million)
11.6.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
11.6.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.7. Rest of Asia Pacific Vital Signs Monitoring Devices Market
11.7.1. Rest of Asia Pacific Market Size and Forecast, 2022-2033 (USD Million)
11.7.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
11.7.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

12. Latin America Vital Signs Monitoring Devices Market
12.1. Latin America Vital Signs Monitoring Devices Market
12.1.1. Latin America Market Size and Forecast, 2022-2033 (USD Million)
12.1.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
12.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.2. Brazil Vital Signs Monitoring Devices Market
12.2.1. Brazil Market Size and Forecast, 2022-2033 (USD Million)
12.2.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
12.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.3. Mexico Vital Signs Monitoring Devices Market
12.3.1. Mexico Market Size and Forecast, 2022-2033 (USD Million)
12.3.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
12.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.4. Argentina Vital Signs Monitoring Devices Market
12.4.1. Argentina Market Size and Forecast, 2022-2033 (USD Million)
12.4.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
12.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.5. Rest of Latin America Vital Signs Monitoring Devices Market
12.5.1. Rest of Latin America Market Size and Forecast, 2022-2033 (USD Million)
12.5.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
12.5.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

13. MEA Vital Signs Monitoring Devices Market
13.1. MEA Vital Signs Monitoring Devices Market
13.1.1. MEA Market Size and Forecast, 2022-2033 (USD Million)
13.1.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
13.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
13.2. GCC Vital Signs Monitoring Devices Market
13.2.1. GCC Market Size and Forecast, 2022-2033 (USD Million)
13.2.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
13.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
13.3. South Africa Vital Signs Monitoring Devices Market
13.3.1. South Africa Market Size and Forecast, 2022-2033 (USD Million)
13.3.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
13.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
13.4. Rest of MEA Vital Signs Monitoring Devices Market
13.4.1. Rest of MEA Market Size and Forecast, 2022-2033 (USD Million)
13.4.1.1. Market Size and Forecast by Product, 2022-2033 (USD Million)
13.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

14. Competitor Analysis
14.1. Market Share Analysis, 2022
14.2. Major Recent Developments, 2019-2022

15. Company Profiles
15.1. Masimo
15.1.1. Company Snapshot
15.1.2. Company Overview
15.1.3. Financials
15.1.4. Product Benchmarking
15.1.5. Recent Developments
15.2. Omron Healthcare
15.2.1. Company Snapshot
15.2.2. Company Overview
15.2.3. Financials
15.2.4. Product Benchmarking
15.2.5. Recent Developments
15.3. Nihon Kohden Corporation
15.3.1. Company Snapshot
15.3.2. Company Overview
15.3.3. Financials
15.3.4. Product Benchmarking
15.3.5. Recent Developments
15.4. A&D Company Ltd.
15.4.1. Company Snapshot
15.4.2. Company Overview
15.4.3. Financials
15.4.4. Product Benchmarking
15.4.5. Recent Developments
15.5. Nonin Medical Inc.
15.5.1. Company Snapshot
15.5.2. Company Overview
15.5.3. Financials
15.5.4. Product Benchmarking
15.5.5. Recent Developments
15.6. Koninklijke Philips N. V.
15.6.1. Company Snapshot
15.6.2. Company Overview
15.6.3. Financials
15.6.4. Product Benchmarking
15.6.5. Recent Developments
15.7. Contec Medical Systems Co. Ltd.
15.7.1. Company Snapshot
15.7.2. Company Overview
15.7.3. Financials
15.7.4. Product Benchmarking
15.7.5. Recent Developments
15.8. SunTech Medical, Inc.
15.8.1. Company Snapshot
15.8.2. Company Overview
15.8.3. Financials
15.8.4. Product Benchmarking
15.8.5. Recent Developments
15.9. Medtronic
15.9.1. Company Snapshot
15.9.2. Company Overview
15.9.3. Financials
15.9.4. Product Benchmarking
15.9.5. Recent Developments
15.10. GE Healthcare
15.10.1. Company Snapshot
15.10.2. Company Overview
15.10.3. Financials
15.10.4. Product Benchmarking
15.10.5. Recent Developments
15.11. Spacelabs Healthcare, Inc
15.11.1. Company Snapshot
15.11.2. Company Overview
15.11.3. Financials
15.11.4. Product Benchmarking
15.11.5. Recent Developments
15.12. Company 12
15.12.1. Company Snapshot
15.12.2. Company Overview
15.12.3. Financials
15.12.4. Product Benchmarking
15.12.5. Recent Developments
15.13. Company 13
15.13.1. Company Snapshot
15.13.2. Company Overview
15.13.3. Financials
15.13.4. Product Benchmarking
15.13.5. Recent Developments
15.14. Company 14
15.14.1. Company Snapshot
15.14.2. Company Overview
15.14.3. Financials
15.14.4. Product Benchmarking
15.14.5. Recent Developments
15.15. Company 15
15.15.1. Company Snapshot
15.15.2. Company Overview
15.15.3. Financials
15.15.4. Product Benchmarking
15.15.5. Recent Developments
15.16. Others Prominent Players

16. Conclusion & Recommendations

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Masimo
  • Omron Healthcare
  • Nihon Kohden Corporation
  • A&D Company Ltd.
  • Nonin Medical Inc.
  • Koninklijke Philips N.V.
  • Contec Medical Systems Co. Ltd.
  • SunTech Medical Inc.
  • Medtronic
  • GE Healthcare
  • Spacelabs Healthcare Inc.