The global Vital Signs Monitoring Devices Market size is expected to reach USD 15.6 billion by 2028, according to the new report of Grand View Research, Inc. It is expected to expand at a CAGR of 8.9% over the forecast period. The growing prevalence of lifestyle-associated chronic conditions and rising demand for advanced monitoring devices in developing countries, such as China, India, Thailand, and Brazil, are some of the major factors driving the market. The availability of monitoring systems at competitive prices and increasing disposable income are expected to fuel the market growth during the forecast period.
The introduction of advanced, integrated vital signs monitoring solutions and the growing trend of the usage of these devices in home healthcare settings as well as all-time wearable devices for chronic patients are some of the factors expected to drive the market during the forecast period.
Blood pressure monitors emerged as the largest product segment in the market in 2020 due to the increasing incidence of hypertension and rising demand for blood pressure monitors designed for personal use. The hospitals’ end-use segment dominated the market in 2020 due to the factors such as a large patient pool, financing capability, and requirement of vital signs monitors in bulk.
The demand for vital signs monitoring devices escalated due to the outbreak of COVID as a daily measurement of the vital sign can serve as an early detection system for the infection. These devices can also provide facility-based surveillance for healthcare-associated infections, including infections in healthcare workers and patients, which is one of the vital components of COVID-19 infection prevention and control measures. The use of vital signs monitoring for in-home settings also saw a surge w.r.t maintaining patient and provider safety while also allowing real-time access to vital signs via Cloud Portals.
Related Press Release@ Vital Signs Monitoring Devices Market Report
Vital Signs Monitoring Devices Market Report Highlights
- By product, blood pressure monitors held the largest market share in 2020 and are expected to exhibit a lucrative CAGR from 2021 to 2028
- Based on end-use, the hospitals’ segment dominated the market in 2020. The segment is expected to maintain its lead throughout the forecast period owing to the high preference for advanced devices
- North America dominated the market in 2020 owing to the availability of major market players and high adoption of advanced technology
- Various manufactures are focusing on new product launches, technological innovations, collaborations, and regional expansion as major strategic initiatives