Vital Signs Monitoring Systems Market – Scope of the Report
TMR’s report on the vital signs monitoring systems market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2019 to 2027. The report provides the overall revenue of the global vital signs monitoring systems market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global vital signs monitoring systems market during the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global vital signs monitoring system market.
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Global Vital Signs Monitoring Systems Technologies and Services Market Witness Most Promising Rise in Demand:
Conventional Monitoring Technologies Pave Way for Connected Devices
Vital signs monitoring systems have gradually become an integral part of the modern-day healthcare landscape. Due to significant advancements in technology, vital signs monitoring systems are increasingly being used across hospitals, ambulatory surgical centers, clinics, and homecare settings. Conventional technologies, which include adhesive and mechanical sensors for vital signs monitoring are gradually being replaced by cutting-edge connected devices, owing to improved patient safety and accuracy provided by the latter. Traditionally, in a majority of hospitals worldwide, nurses are taking charge of monitoring vital signs and documenting the results. However, due to the redundancy and time restraints of this process, the demand for vital signs monitoring systems is witnessing considerable growth.
Due to the shortcomings of conventional vital signs monitoring techniques, an array of vital signs monitoring devices, including electronic thermometer and pulse oximeter, among others, have been launched in the vital signs monitoring systems market. In the past few years, wearable health devices have gradually made their way into the global healthcare landscape and are increasingly being used for vital signs monitoring. At present, vital signs monitoring systems are being used in several applications, including diagnosis support, anomaly detection, and prevention of chronic health problems.
The growing prevalence of chronic diseases worldwide, surge in the geriatric population, and favorable reimbursement policies are some of the leading factors that are expected to boost the growth of the vital signs monitoring systems market during the forecast period. Thus, the global vital signs monitoring systems market is expected to reach a value of ~US$ 11.8 Bn by the end of 2027.
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Stakeholders Launch New Products to Gain Market Share
Stakeholders operating in the current vital signs monitoring systems market landscape are investing a significant amount of resources to develop new products. Moreover, several companies are focusing on launching new products to gain a competitive edge in the current market landscape. While pricing strategies will remain among key differentiators, stakeholders are focusing on product innovations and expanding their product portfolio.
Key Players of Vital Signs Monitoring Systems Technologies and Services Market Report:
This report profiles major players in the global vital signs monitoring systems market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global vital signs monitoring systems market is moderately fragmented, with presence of a few large players in international markets and several small players in regional markets. Top 4 to 5 players hold majority share of the global vital signs monitoring systems market. Prominent players operating in the global vital signs monitoring systems market include
- Welch Allyn (Hill-Rom Services Inc.)
- GE Healthcare (General Electric Company)
- Koninklijke Philips N.V.
- OMRON Corporation
- Infinium Medical
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
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