Vital signs monitoring devices market was valued at $4.65
billion in 2018, and is projected to reach $7.80 billion by 2026, registering a
CAGR of 6.6% from 2019 to 2026. Vital signs devices monitoring deals with
measurement of vital parameters, such as respiratory rate, blood pressure,
temperature, and pulse to assess health conditions of a patient. These devices
are used to monitor patient’s status prior to or during patient care. Vital
signs can be measured in a medical setting, at home, or at the site of medical
emergency.
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Factors such as increase in geriatric population, rise in
inclination toward home monitoring, and surge in incidence rate of chronic
diseases, such as cardiovascular disorders and obesity, are expected to drive
growth of the market. Moreover, innovations in vital signs monitoring devices,
such as introduction of digital blood pressure monitors and finger pulse
oximeters, and rise in awareness among patients regarding advanced vital signs
monitoring devices are expected to fuel the market growth. However, lack of
awareness about these devices in low-and middle-income economies hampers the
market growth.
Furthermore, owing to COVID-19 outbreak, the trade &
transport restrictions, quarantine measures, cross-border movement controls and
disruptions have negatively impacted the global supply chain of vital signs
monitoring devices. On the contrary, the demand for these devices is likely to
boost amid the pandemic, due to their increasing usage in recording and
analyzing the physiological functions such as body temperature and blood
pressure in COVID-19 patients. Moreover, rising demand of temperature
monitoring devices such as non-contact infrared thermometers across several
workplaces is projected to further fuel the market growth.
Among the vital signs monitoring devices, the BP monitoring
devices segment is anticipated to hold a dominating position in the global
vital signs monitoring devices market in the coming years. The demand for BP
monitoring devices has increased in recent years, owing to increase in incidences
of cardiovascular diseases such as hypertension, lurking risk of high BP in
geriatric population, and expanding base of lifestyle diseases including
obesity and diabetes. Moreover, technological advancements in BP devices, such
as advent of mobile-based BP monitoring devices and prominence of home-use BP
monitors fuel the market growth. In addition, pulse oximetry devices is
projected to be the fastest growing segment. Rise incidence of trauma
conditions and heart-related diseases and availability of cost-effective smart
pulse oximeters are the key drivers of the global smart pulse oximeter market.
In the end user segment, hospitals & clinics occupied a
major share of the vital signs monitoring devices marketin 2018, and is
expected to maintain this trend during the forecast period.Vital signs
monitoring devices are used to examine several medical parameters including
blood pressure, oxygenation level, and temperature to keep track of a patient’s
health status. In hospitals & clinics and vital signs monitoring devices
are used in treatment of communicable (malaria, pneumonia, and HIV/AIDS) and
non-communicable (hypertension) diseases. Vital signs monitoring devices are in
high demand in hospitals & clinics as these devices facilitate early detection
of a patient’s deteriorating health condition; thereby, enabling speedy
intervention and diagnosis of the disease. Disposable wireless monitoring
devices are widely used in hospitals, owing to ease-of-disposal, eliminating
the need for cleaning and sterilization.
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