Market Overview
Global Vital Signs Monitoring Devices Market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031 growing at a CAGR of YY% during the forecast period 2024-2031.
Vital signs monitoring devices monitor basic vital signs such as temperature, heart rate, oxygen saturation, and blood pressure. These measures are important for detecting abnormalities in the body. Due to technological advancements, these devices became lightweight, portable, and compact. It is ideal for adults, pediatrics, and even neonates.
Vital signs monitoring devices play an important role in detecting diseases. An increase in chronic infections increases the demand and usage. For instance, according to the National Council on Aging, 2023, approximately 95% of adults 60 and older have at least one chronic condition, while more than 80% have two or more. Obesity alone impacts about 42% of adults 60 and older which leads to major conditions like cardiovascular diseases and hypertension in which Americans hold the highest percentage.
Market Scope
| Metrics | Details |
| CAGR | YY% |
| Market Size | 2022-2031 |
| Market Estimation Forecast Period | 2024-2031 |
| Revenue Units | Value (US$ Mn) |
| Segments Covered | Product Type, End User |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Largest Region | Asia-Pacific |
| Fastest Growing Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics: Drivers & Restraints
Increasing market developments
Vital signs monitoring devices are essential for the detection of abnormalities in the body such as oxygen saturation, heartbeat, temperature, etc. Market developments such as FDA approvals, and product launches drive the vital signs monitoring devices market in the forthcoming period. For instance, in June 2022, GE Healthcare introduced the Portrait mobile, a wireless vital sign monitoring system that allows continuous monitoring throughout a patient's hospital stay.
In December 2022, Mind Ray launched its new mWear system, a wearable patient monitor that combines all the benefits of complete wireless interconnection with accurate multi-parameter monitoring and integration into home hospital settings.
In October 2023, Dozee launched ambulatory patient monitoring Dozee Pro Ex, which aims to offer seamless care continuity from hospital to home.
In June 2023, Masimo got 510(K) clearances from the US Food and Drug Administration for its patient-worn, continuous multi-parameter vital signs monitor called Radius VSM. This product enables clinicians to monitor several physiological measurements such as Masimo SET pulse oximetry, temperature, respiration rate, and electrocardiography.
Accuracy of monitoring devices
Accuracy plays a vital role in knowing the abnormalities using the vital sign indicators. The monitoring devices in case shows inaccurate vitals, the entire diagnosis and treatment might be different due to the difference in the numbers even if it is minute. Hence, recent advancements are focusing on the advancements in sensor technologies to improve the accuracy and efficiency of measuring the vitals in the body.
Market Segment Analysis
The global vital signs monitoring devices are segmented based on product type, end-user, and region.
The blood pressure monitoring device segment accounted for approximately 54.3% of the market share
Blood pressure monitoring devices are expected to hold the largest share of the market due to the increase in the launch of these products in the market due to their high demand. Digital BP monitors are generally portable and can be used from a home care setting or with the integration from a home setting and hospital for careful monitoring of the BP in patients. The launch of these products helps people and clinicians to monitor accurate results. For instance, in July 2022, Live Metric launched the wearable blood pressure monitoring device Live One, a nano-sensor technology for monitoring blood pressure every 10 seconds.
In February 2022, InBody launched a new at-home automatic blood pressure monitor, InBody BP 170 which features a large display for optimal visibility and provides individuals with the option to self-record and track key health metrics at home.
In January 2024, Pylo Health launched the next generation of cellular-connected remote patient monitoring devices which includes the Pylo 900-LTE blood pressure monitor and the Pylo 200-LTE weight scale.
Market Geographical Share
North America accounted for approximately 42.3% of the market share in 2022
North America is expected to hold the largest share of the market due to the increase in the incidence of chronic non-communicable diseases like hypertension, and diabetes that lead to major cardiovascular diseases. These non-communicable diseases require continuous monitoring that is achieved with the help of vital sign monitoring devices. Almost all clinicians vite to portable monitoring devices which come in handy and can be used from anywhere. The demand for these monitoring devices is pushed higher due to the increasing incidence of chronic diseases in this region.
According to the Centers for Disease Control and Prevention, approximately 695,000 people in the United States died from heart disease in 2021 that's 1 in every 5 deaths. Furthermore, according to the American Diabetes Association, in 2021, 38.4 million Americans, or 11.6% of the population, had diabetes including those diagnosed and undiagnosed.
COVID-19 Impact Analysis
Covid 19 surged the vital signs monitoring devices market. The use of temperature sensors was observed everywhere due to increased cases during the peak of the pandemic. Although the entire world was under lockdown, measuring vitals like temperature and blood pressure was an obvious way to know the abnormalities in the body of COVID-19-contracted patients. The importance of vital signs intensified for the detection of covid 19 as temperature difference is the main indication for disease detection. Due to the above factors, the market of vital signs monitoring devices shot up during the pandemic period.
Key Companies
The major global players in the vital signs monitoring devices market include GE Healthcare, BPL Medical Technologies, Boston Scientific Corporation, Abbott Laboratories, 3M Company, Koninklijke Philips N.V., Siemens Healthineers, Cardinal Health, Medtronic plc, Hitachi Medical Systems among others.
Key Developments
- In January 2022, Akiita released a plan to launch its automated 24/7 blood pressure monitor in the United States.
- In April 2022, Anetlo Inc. partnered with BioIntelliSense, Inc. to integrate BioIntelliSense's FDA-cleared Biosticker and BioButton wearable medical devices and other services.
Why Purchase the Report?
- To visualize the global vital signs monitoring devices market segmentation based on product type, end-user and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of vital signs monitoring devices market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global vital signs monitoring devices market report would provide approximately 51 tables, 50 figures, and 185 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
