Vital Signs Monitoring Devices Market Size, Share & Trends Analysis Report By Product (BP Monitors, Pulse Oximeters), By End Use (Hospitals, Home Healthcare), By Region, And Segment Forecasts, 2022 - 2030

Vital Signs Monitoring Devices Market Size, Share & Trends Analysis Report By Product (BP Monitors, Pulse Oximeters), By End Use (Hospitals, Home Healthcare), By Region, And Segment Forecasts, 2022 - 2030

Vital Signs Monitoring Devices Market Growth & Trends

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. 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 Report Highlights

• 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