North America Vital Signs Monitoring Devices Market Forecast to 2030 - Regional Analysis - By Product (Pulse Oximeters, Blood Pressure Monitors, Temperature Monitoring Devices, and Glucose Monitoring Devices) and End User (Hospitals & Clinics, Ambulatory

North America Vital Signs Monitoring Devices Market Forecast to 2030 - Regional Analysis - By Product (Pulse Oximeters, Blood Pressure Monitors, Temperature Monitoring Devices, and Glucose Monitoring Devices) and End User (Hospitals & Clinics, Ambulatory Care Centers, Home Healthcare, and Others)

The North America vital signs monitoring devices market was valued at US$ 10,450.51 million in 2022 and is expected to reach US$ 27,252.11 million by 2030; it is estimated to grow at a CAGR of 12.7% from 2022 to 2030.

Use of Radar Technology in Healthcare Fuels the North America Vital Signs Monitoring Devices Market

Radar technologies have been studied for decades for their applications in healthcare. The advantages of radar technologies have led to increased interest among researchers and enabled the development of continuous contactless heart and respiration rate monitoring devices. Contactless monitoring would reduce the risk of cross-infection among patients and healthcare professionals, in addition to assisting doctors in accurate diagnoses. Compactness, discreetness, anonymity, robustness, and energy efficiency are the key advantages of radar technologies.

Government agencies and companies have been working on projects focused on using radar technologies in devices and enhance the quality of patients. Also, the innovative sensors are now available in a few healthcare systems to enhance diagnostics with distance resolution and signal processing. Thus, the integration of radar technologies is expected to emerge as a promising trend in the North America vital signs monitoring devices market during 2022-2030.

North America Vital Signs Monitoring Devices Market Overview

The vital signs monitoring devices market in North America is segmented into the US, Canada, and Mexico. The US is the largest market for vital signs monitoring devices. The market is prominently driven by an extensive rise in respiratory diseases, a big pool of diabetic population, increase in awareness about respiratory diseases among the population.

The increasing prevalence of cardiovascular diseases is a major driving factor for the country's vital signs monitoring devices market. For instance, according to the July 2022 update of the Centers for Disease Control and Prevention (CDC), approximately 805,000 heart attack incidences are recorded every year in the US, of which 605,000 people had a heart attack for the first time, and the remaining 200,000 were those who already had a heart attack before. Further, as per the same source, nearly one in five heart attacks are silent, which means the person had a heart attack but was unaware of it. Hence, due to the high burden of cardiovascular diseases, the demand for vital sign monitoring devices is expected to increase in the country, fueling the vital signs monitoring devices market growth.

For instance, per the 2022 statistics published by the United Nations Population Fund (UNPF), ~65% of the population living in Canada was aged between 15 and 64 years in 2022, and 19% of the population was 65 years and over. This is expected to increase the adoption of monitoring devices to routinely monitor their condition and status, thus propelling the growth of the vital signs monitoring devices market.

North America Vital Signs Monitoring Devices Market Revenue and Forecast to 2030 (US$ Million)

North America Vital Signs Monitoring Devices Market Segmentation

The North America vital signs monitoring devices market is segmented based on product, end-use industry, and country.

Based on product, the North America vital signs monitoring devices market is segmented into pulse oximeters, blood pressure monitors, temperature monitoring devices, and glucose monitoring devices. The glucose monitoring devices segment held the largest share in 2022.

By end-use industry, the North America vital signs monitoring devices market is segmented into hospitals & clinics, ambulatory care centers, home healthcare, and other. The hospitals & clinics segment held the largest share in 2022.

Based on country, the North America vital signs monitoring devices market is categorized into US, Canada, and Mexico. The US dominated the North America vital signs monitoring devices market in 2022.

Key players operating in the North America vital signs monitoring devices market are Koninklijke Philip NV, Medtronic Plc, Nihon Kohden, GE HealthCare Technologies Inc, OMRON corp, Masimo Corp, Nonin Medical Inc, Suntech Medical Inc, and Baxter Intonational Inc are some of the leading companies operating in the North America vital signs monitoring devices market.
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