Vital Signs Monitoring Market Synopsis
According to the data experts at Market Research Future Reports (MRFR), the global market for vital signs monitoring is anticipated to thrive at a CAGR of 7.5% during the review period. The increasing geriatric population is estimated to be the most significant factor driving the global vital signs monitoring market 2020. Besides, with the burgeoning technology advancement, people have adapted to a different lifestyle leading to market expansion. Besides, people are falling prey to chronic diseases easily. Also, it is speculated that an amalgamation of artificial intelligence and machine learning is estimated to produce lucrative results, eventually leading to market growth.
Further, the advancement of wearables for regulating health is projected to be another important factor in escalating market growth. Also, the technology is being adopted at a fast rate in commercial healthcare settings, which is estimated to magnify the market size.
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However, the exorbitant cost associated with the device is estimated to hinder the growth of the global market for vital signs monitoring. In addition, the strict rules pertaining to its approval is another potent factor hampering market expansion. Further, the outbreak of COVID-19 is projected to bring substantial changes in market dynamics. We will provide an impact analysis report of COVID-19 on the global market for vital signs monitoring.
Vital Signs Monitoring Market Key Players
The renowned entities of the global market for vital signs monitoring market share are
- Hicks Thermometers India Limited
- Koninklijke Philips N.V.
- GENERAL ELECTRIC COMPANY
- Mindray DS USA Inc.
- Spacelabs Healthcare
- SunTech Medical Inc.
- Omron Healthcare Inc.
- Welch Allyn
- Smiths Medical
Vital Signs Monitoring Market Segmentation
The global vital signs monitoring market size can be distinguished on the basis of portability, distribution channel, product, type, end-user, and region.
On the basis of portability, the global market for vital signs monitoring can be classified into standalone and portable.
On the basis of the distribution channel, the global market for vital signs monitoring can be classified into retail pharmacies, hospital pharmacies, online websites, and others.
On the basis of product, the global market for vital signs monitoring can be classified into respiratory rate monitors, pulse oximeter, blood pressure monitoring devices, temperature monitoring devices, others.
On the basis of end-user, the global market for vital signs monitoring can be classified into hospitals & clinics, ambulatory centers, home healthcare, and others.
On the basis of type, the global market for vital signs monitoring can be classified into integrated systems, non-integrated systems, and others.
On the basis of region, the global market for vital signs monitoring can be classified into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Vital Signs Monitoring Market Regional Analysis
The global market for vital signs monitoring is likely to expand significantly during the review period. As per MRFR, the geographical analysis of the Americas, Europe, Asia-Pacific, and the Middle East & Africa has been conducted. As per the study, the global market is projected to be led by the Americas. The most significant factor responsible for regional market growth is the fast-growing geriatric population. Also, the region has an abundant budget for healthcare expenditure.
The European market is estimated to acquire the second position in terms of market share. The expansion can be attributed to the change in lifestyle and the increasing demand for health patient monitoring equipment. On the contrary, the APAC region is estimated to acquire the third position in terms of market share. However, the region is projected to expand at the fastest rate due to the increasing geriatric population and the widespread chronic disease in the region.
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