Vital Signs Monitoring Devices Market Worth $18.8 Billion by 2030: Grand View Research, Inc.
May 19, 2022
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SAN FRANCISCO, May 19, 2022 /PRNewswire/ -- The global vital signs monitoring devices market size is anticipated to reach USD 18.8 billion by 2030, according to the new report of Grand View Research, Inc., expanding at a CAGR of 9.3% 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 the major factors driving the market growth. Key Insights & Findings from the report:
By product, BP monitors held the largest market share in 2021 and are expected to grow at a lucrative CAGR from 2022 to 2030. The hospital end-use segment dominated the market in 2021 and is expected to continue its dominance throughout the forecast period owing to the high demand for advanced devices. North America dominated the global market in 2021. The presence of major market players and high adoption rates of advanced technologies are the key factors attributed to the segment growth. The industry is highly competitive. Various manufacturers are focusing on new product launches, technological innovations, collaborations, and regional expansion as major strategic initiatives. Vital Signs Monitoring Devices Market Growth & Trends
The availability of monitoring systems at competitive prices and increasing disposable income are also expected to fuel the market growth during the forecast period. The introduction of advanced, integrated vital signs monitoring solutions and the growing trend of using these devices in home healthcare settings & all-time wearable devices for chronic patients will support the market growth. Blood pressure monitors are the largest product segment due to the increasing incidence of hypertension and the high demand for BP monitors designed for personal use. The hospital end-use segment dominated the market in 2021 due to the factors, such as the huge patient pool, financing capability, and the requirement for vital signs monitors in bulk in hospitals. The product demand escalated drastically in 2020 due to the outbreak of COVID-19 as a daily measurement of the vital signs was the crucial parameter to be looked for in identifying the presence of the virus. These devices can also provide facility-based surveillance for healthcare-associated infections, including infections in healthcare workers and inpatients, which is one of the vital components of the COVID-19 infection prevention and control measures. The product usage for in-home settings also saw a surge with respect to maintaining patient and provider safety while also allowing real-time access to vital signs via Cloud Portals. Vital Signs Monitoring Devices Market Segmentation
Grand View Research has segmented the global vital signs monitoring devices market on the basis of product, end use, and region:
Vital Signs Monitoring Devices Market - Product Outlook (Revenue, USD Million, 2018 - 2030)
Blood Pressure Monitors
Koninklijke Philips N.V.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: