The global vital signs monitoring devices market is expected to witness a significant growth during the forecast period, owing to an increase in importance of vital signs monitoring devices in home care settings and improved reimbursement scenario in developed countries. In addition, surge in geriatric population and a rise in incidence rate of cardiovascular disorders such as hypertension and other preexisting health conditions including COPD, sleep apnea, and infectious diseases fuel the demand for vital signs monitoring devices, globally. Moreover, an increase in use of vital signs monitoring devices for fitness monitoring and a rise in ambulatory surgery centers across various countries, which use vital signs monitoring devices routinely, foster market growth. However, lack of awareness about these devices in low- and middle-income countries hamper market growth.
The vital signs monitoring devices market is segmented on the basis of product type, end user, and region. By product type, the market is divided into blood pressure monitoring devices, pulse oximeters, and temperature monitoring devices. Under the blood pressure monitoring devices, the market is further divided into aneroid BP Monitors, digital BP monitors, blood pressure instrument accessories and ambulatory BP monitors. Under the pulse oximeters segment, the market is further classified into table-top/bedside pulse oximeters, fingertip pulse oximeters, hand-held pulse oximeters, wrist-worn pulse oximeters and pediatric pulse oximeters. Under the temperature monitoring devices segment, the market is further segmented into mercury-filled thermometers, digital thermometers, infrared thermometers and temperature strips. By end user, the market is segregated into hospitals & clinics, ambulatory surgery centers, and home care settings. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Prominent players have adopted product development, product launches, approvals, and clinical trials as their key developmental strategies for expanding their product portfolio. For instance, on November 5, 2019 Philips launched next-gen vital signs monitor “EarlyVue VS30” for early diagnosing and patient intervention. The device captures medical data from a patient and transmits it to hospital’s medical records, thereby enhancing patient treatment and reducing errors. Moreover, reimbursement policies for these devices fuel the demand for vital signs monitoring products. For instance, Medicare offers reimbursement for pulse oximeters used for a pulmonary disease(s) in case of using diagnosis code ICD-9-CM, which describes a patient’s condition and motive of using the service or procedure. The present procedural technology identifies three codes for oximetry, namely, 94760, 94761, and 94762.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2019 to 2026, which assists to identify the prevailing market opportunities.
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global laparoscopy devices market is provided.
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET SEGMENTS
By Product Type
- Blood Pressure Monitoring Device
- Aneroid BP Monitors
- Digital BP Monitors
- Blood Pressure Instrument Accessories
- Ambulatory BP Monitors
- Pulse Oximeters
- Table-top/Bedside Pulse Oximeters
- Fingertip Pulse Oximeters
- Hand-held Pulse Oximeters
- Wrist-worn Pulse Oximeters
- Pediatric Pulse Oximeters
- Temperature Monitoring Device
- Mercury-filled Thermometers
- Digital Thermometers
- Infrared Thermometers
- Temperature Strips
By End User
- Hospitals & Clinics
- Ambulatory Surgery Centers (ASCs)
- Home Care Settings
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- Australia
- Japan
- India
- China
- Taiwan
- Thailand
- Indonesia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Turkey
- Venezuela
- Colombia
- Saudi Arabia
- South Africa
- Argentina
- Rest of LAMEA
Key Market Players
- Hill-Rom Holdings, Inc.
- Halma plc (SunTech Medical, Inc.)
- Nonin Medical, Inc.
- Omron Corporation
- Masimo Corporation
- General Electric Company
- Medtronic plc
- Nihon Kohden Corporation
- Koninklijke Philips N.V.
- A&D Company, Limited
- Contec Medical System Co., Ltd
- Smiths Group plc.
Table of Contents
Companies Mentioned
- Hill-Rom Holdings Inc
- Halma plc (SunTech Medical Inc.
- Nonin Medical Inc
- Omron Corporation
- Masimo Corporation
- General Electric Company
- Medtronic plc
- Nihon Kohden Corporation
- Koninklijke Philips NV
- A&D Company
- Limited Contec Medical System Co Ltd
- Smiths Group plc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 316 |
Published | June 2020 |
Forecast Period | 2018 - 2026 |
Estimated Market Value ( USD | $ 4655.9 million |
Forecasted Market Value ( USD | $ 7813.5 million |
Compound Annual Growth Rate | 6.7% |
Regions Covered | Global |
No. of Companies Mentioned | 12 |