Global Vital Sign Monitoring Devices Market, By Product Type (Low Acuity Monitors, Mid Acuity Monitors, High Acuity Monitors, Liquid Filled Thermometers, Digital Thermometers, Infrared Thermometers, Sphygmomanometers, Automated Blood Pressure Monitors, and Standalone Pulse Oximeters), By End User (Hospitals, Clinics, Ambulatory Surgical Center, and Home Care Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,515.9 Million in 2023, exhibiting a CAGR of 9.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focusing on the adoption of organic growth strategiessuch as product launches to expand their product portfolio, and this is expected to drive the market growth over the forecast period. For instance, on April 13, 2023, Honeywell Sensing & Safety Technologies, a healthcare providerthat provides every patient high-quality care where and when they need it, launched real-time health monitoring system. The system uses advanced sensing technology to monitor vital sign and transmits data to healthcare providers via mobile devices and an online dashboard.
Global Vital Sign Monitoring Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a positive impact on the global vital sign monitoring devices market growth. For instance, in December 2020, Konica Minolta company provides Digital Printing solutions. , launched a patient monitoring system in Japan, for COVID-19 hospitalized patients with mild to moderate disease treated in isolation zones. This patient monitoring system enables spot checks of such patients’ vital signs, measured by a pulse oximeter, a thermometer, and a blood-pressure monitor, as well as continuous monitoring data from the pulse oximeter, to be transmitted to the nurses’ station,
Global Vital Sign Monitoring Devices Market- Key Developments
In May 2021, Essence SmartCare company creates innovative technologies that enable people to enjoy the comfort of aging at home, launched VitalOn, a comprehensive remote patient monitoring (RPM) platform, for active seniors and older adults living with chronic conditions. The system is always on, and provides continuous monitoring and chronic conditions management for a wide range of healthcare needs, both at home and on- the- go.
In March 2022, the U.S. Food and Drug Administration granted clearance to Biobeat’s is a company health-AI and ML on big-data in order to provide actionable insights on patient care. wearable remote patient monitoring device to monitor respiratory rate, body temperature, cuffless blood pressure, blood oxygen saturation, and pulse rate.
In 2020, Nihon Kohden, a developer of precision medical products and services, launched its Life Scope SVM-7200 Series vital sign monitor, a monitor designed for outpatient facilities and beds that traditionally are not monitored. The monitor allows healthcare practitioners to quickly and easily measure three vital sign —blood oxygen, blood pressure, and temperature.
Browse 32 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Vital Sign Monitoring Devices Market, By Product Type (Low Acuity Monitors, Mid Acuity Monitors, High Acuity Monitors, Liquid Filled Thermometers, Digital Thermometers, Infrared Thermometers, Sphygmomanometers, Automated Blood Pressure Monitors, and Standalone Pulse Oximeters), By End User (Hospitals, Clinics, Ambulatory Surgical Center, and Home Care Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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