Vital Sign Monitoring Devices Market - Size, Share, Outlook, and Opportunity Ana

Posted by Rajkumar on June 24th, 2019

A vital sign monitoring device is used to measure heart rate, blood pressure, respiration rate, body temperature, and fluid intake and output. Furthermore, it can be used to monitor pain and urinary continence. The monitoring devices provide and record clinically relevant data of the patient’s health with the help of small sensors attached to the body, which carry the information to the monitor. Some sensors are clipped to the patient’s finger while others may be stuck to the skin. Most vital sign monitoring devices display heart rate, blood pressure, and body temperature, while advanced devices present how much oxygen blood is carrying, or how fast the patient is breathing. Few devices even measure the pressure applied to the brain, and the amount of carbon dioxide which is exhaled. The monitor has sound signals to indicate if the vital signs are below or above the reference level.

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Vital Sign Monitoring Devices Market – Driver

Increasing prevalence of cardiovascular diseases and diabetes requires vigilant monitoring of vital signs. According to World Health Organization, in 2018, 41 million people died globally from non-communicable diseases (NCDs). Major NCDs such as cardiovascular diseases (CVD) caused 17.9 million deaths, cancer caused 9 million deaths, respiratory diseases caused 3.9 million deaths, and 1.6 million died due to diabetes. These four diseases account for nearly 80% of all NCD-related deaths.

Furthermore, subsequent product launches and continuous innovations by manufacturers is expected to boost growth of vital signs monitoring devices over the forecast period. For instance, in April 2015, Hamilton Medical launched the IntelliCuff pressure controller which is used for automatic measurement and maintenance of cuff pressure. Furthermore, in June 2018, Masimo and Thermomedics launched their new contactless, Bluetooth enabled thermometer in North America. The thermometer called TIR-1 is included in Masimo Root patient monitoring and connectivity platform. TIR-1 is a clinical grade infrared thermometer which is used for measuring forehead temperature of a person.

However, the lack of awareness about these devices in low and middle income economies and sometimes no response from few devices hinders the growth of vital signs monitoring devices market.

Vital Sign Monitoring Devices Market - Regional Insights

On the basis of region, the global vital sign monitoring devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the global vital sign monitoring devices market, owing to the well-established healthcare industry and better reimbursement facilities in the region. It also accounted for majority of the revenue due to higher adoption of digital healthcare and rising investments done by key players in the region. Furthermore, rising prevalence of high blood pressure among people, increasing geriatric population, and changing lifestyle in the region, is expected to contribute to the global vital sign monitoring market growth during the forecast period. For instance, according to Center for Disease Control and Prevention (CDC), November 2016, 1 out of 3 adults in the U.S. suffered from high blood pressure.

Specially designed blood pressure monitors have been introduced in the market in order to enable veterinarians and clinicians to take fast, simple and accurate measurements. For instance, in September 2015, SunTech Medical announced McCarthy & Sons Service had been appointed as a distribution partner for the SunTech Vet20 BP monitor in Canada, which is specially designed for veterinarians and clinicians. This BP monitor is used for fast, simple and accurate measurements of awake and sedated companion animals.

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The Asia Pacific region is expected to be the fastest growing market, owing to rise in demand for vital sign monitoring devices in the hospitals, ambulatory surgical centers and home healthcare. Also, the increasing prevalence of chronic diseases in the population is expected to fuel the market growth.

Vital Sign Monitoring Devices Market - Competitive Landscape

Some of the key players operating in the global vital sign monitoring devices market include Medtronic, General Electric Company, Spacelabs Healthcare, Siemens Healthcare Private Limited, Natus Medical Incorporated, Boston Scientific Corporation, Omron Healthcare Inc., Mindray DS USA Inc., SunTech Medical, Inc., and Welch Allyn, Hamilton Medical.

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