North America is one of the key markets for vital signs monitoring devices, with the U.S. expected to account over 89.9% of the North American market revenue share during the forecast period.
From 2022 to 2030, the global market for vital signs monitoring devices is anticipated to develop significantly at a CAGR of 8.4%, with a market value of over US$ 12.9 Bn in 2030.
Increasing adoption of vital signs monitoring devices by clinicians for the measurement of vital signs of hospitalized patients has immensely attracted market players’ attention. However, continuous focus among manufacturers on developing new vital signs monitoring devices is also expected to propel market growth during forecast period.
The healthcare industry is at the front line of the coronavirus (COVID-19) pandemic. As epidemiological numbers continue to soar, the industry is running out of resources for treating the expanding patient pool. In a bid to ease off the burden, players such as Medtronic Plc. and Masimo Corporation are launching vital signs monitoring devices to treat patients remotely.
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Key Takeaways of Vital Signs Monitoring Devices Market Study
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New Product Development and Launch – Imperative Strategy for Market Players
Market introduction of new innovative products as per patients’ needs is majorly responsible for intense competition among players in the vital signs monitoring devices market. Several companies are focusing on launching customizable vital signs monitoring devices in order to increase their product sales and expand market share.
For example, in December 2021, Nihon Kohden Corporation launched the life scope SVM-7200 series vital sign monitors – easy-to-use, portable monitors having customizable early warning functionality to help clinicians.
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Future Market Insights offer a unique perspective and actionable insights on the vital signs monitoring devices market in its latest study, presenting historical demand assessment of 2012-2021 and projections for 2022-2030, based on product (monitors, temperature measurement devices, blood pressure measurement devices, and standalone pulse oximeters), mount type (standalone and portable), end user (hospitals, clinics, ambulatory surgical centres, and home care settings), across seven key regions.
Key Market Segments:
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Vital Signs Monitoring Devices Market , Vital Signs Monitoring Devices Market Size , Vital Signs Monitoring Devices Market Research
Aug 29, 2022