Blood pressure, heart rate, and body temperature are the vital signs of a human body. Over the past few years, vital signs monitoring devices have evolved from individual devices measuring these parameters to a combined all-in-one device. In addition to this, constant improvements in design and technology have also helped in boosting the efficiency and accuracy of these devices. Therefore, technological advancements can support the sales of vital signs monitoring devices.
Hospitals: A Prominent End User
Demand for blood pressure monitors is poised to remain high in near future owing to high prevalence of hypertension and rising awareness regarding keeping a check on blood pressure as a precautionary measure. Advent of self-operational digital blood pressure monitors is also benefiting the overall demand for these devices.
Hospitals, home healthcare, physician’s office, ambulatory centers, and emergency care centers are among the key end users of vital signs monitoring devices. Hospitals are the most prominent end users of these devices. Large patient pool and greater financing capabilities ensure high adoption of these devices in hospitals. Manufacturers have, however, started focusing on other healthcare settings in order to increase their profitability. For instance, Phillips presented its range of vital signs monitoring and emergency care devices spanning the continuum of military care in the Defence and Security Equipment International (DSEI) conference 2017. These devices can help diagnose and assess injuries.
Market Insights
As per the findings of Grand View Research, Inc.; the global vital signs monitoring devices market is projected to exhibit a 6.5% CAGR during the forecast period (from 2017 to 2025). Growing number of healthcare settings is one of the primary growth stimulants of the market. Widening base of population, especially geriatrics, booming medical tourism in emerging economies, and rising penetration of medical insurance are contributing to the increase in healthcare settings worldwide. Moreover, constant innovation in products can allow the market to gain tremendous traction in coming years.
Expanding patient pool suffering from chronic disorders such as cardiovascular diseases and cancer can positively impact the market. North America will command a substantial share in the market throughout the forecast horizon owing to growing inclination towards remote and wireless devices.
Some of the prominent players in the market are Koninklijke Philips N.V., Medtronic, GE Healthcare,Omron Healthcare, and A&D Company Ltd.
In-Depth Research Report On Vital Signs Monitoring Devices Market:
https://www.grandviewresearch.com/industry-analysis/vital-signs-monitoring-market
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