Global Vital Signs Monitoring Devices Market: Overview
The vital signs monitoring devices market is anticipated to chart an upward revenue graph during the forecast period of 2019 to 2029. This is due to increasing use of vital signs monitoring devices in home care settings on account of favorable reimbursement policies in developed countries. Furthermore, rise in geriatric population and rise in incidence of cardiovascular diseases fuels demand for vital signs monitoring devices.
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Clinically, vital signs monitoring devices are used to measure body temperature, respiration rate, pulse rate, and blood pressure. Vital signs monitoring devices help to monitor variations in vital signs for early detection of medical problems. Vital signs monitoring devices are used in a medical setting, site of medical emergency, or home.
In this review, TMR Research provides a comprehensive overview of demand dynamics, growth opportunities, and vendor landscape in the vital signs monitoring devices market. The report segments the vital signs monitoring devices on the basis of product type, end user, and region. Each segment within each criteria is studied and its projected growth trajectory for the forecast period is depicted in this report.
Global Vital Signs Monitoring Devices Market: Competitive Scenario
The vital signs monitoring devices market features intense competition with the presence of several large players. R&D and clinical trials for advanced monitoring devices is on the growth chart of keen players to stay ahead in the competition.
Top players in the vital signs monitoring devices market are;
- Hill-Rom Holdings Inc.
- Nonin Medical Inc.
- Masimo Corporation
- Medtronic plc
- Koninklijke Philips N.V.
- Contec Medical System Co. Ltd.
- SunTech Medical Inc.
- Omron Corporation
- General Electric Company
- Nihon Kohden Corporation
- A&D Company
- Smiths Group plc
Global Vital Signs Monitoring Devices Market: Key Trends
The growth of vital signs monitoring devices market stems from rise in incidence of cardiovascular diseases that requires regular monitoring of vital parameters. Vital signs monitoring devices for home use serve to monitor vital parameters regularly, which can help in early detection for medical care if there is marked variation in vital parameters.
Availability of vital signs monitoring devices in a few types is another key factor stoking demand for these devices. Portable devices for home use are extensively useful for patients whose vital parameters need to be monitored on a day-to-day basis to detect sudden variations. Such devices are especially useful for the elderly population who have difficulties visiting medical facilities for regular check-ups.
Vital signs monitoring devices help to record vital parameters, which are used to identify acute medical problems, identify signs of chronic diseases, and for fitness monitoring.
Global Vital Signs Monitoring Devices Market: Regional Assessment
North America is at the forefront in terms of revenue in the global vital signs monitoring devices market. High incidence of lifestyle diseases such as diabetes and hypertension is one of the key factors boosts demand for vital signs monitoring devices in the region. In the U.S., favorable reimbursement policies is a crucial factor for some segments of the vital signs monitoring devices market. For example, Medicare allows reimbursement for pulse oximeters when provided with an appropriate ICD-9-CM code for pulmonary diseases.
Asia Pacific is expected to provide lucrative opportunities for players in the vital signs monitoring devices in the forthcoming years. Rising incidence of lifestyle diseases and increasing disposable incomes in developing countries are key factors behind growth of vital signs monitoring devices market in the region.
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