The Global Vital Signs Monitoring Market is expected to reach USD 6,696.59 million by 2024 from USD 4,125.00 million in 2016, at a CAGR of 6.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Data Bridge Market Research provides New Report titled “Global Vital Signs Monitoring Market, By Product Type (Blood Pressure Monitoring, Pulse Oximeter, Temperature Monitoring Device), By Portability (Standalone, Portable), By End-User (Hospitals, Ambulatory Centers, Home Healthcare, Clinics, Others), By Distribution Channel (Hospital Pharmacy, Pharmacy Stores, Online Websites, Others) Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa) – Industry Trends and Forecast to 2024.
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The major factors driving the growth of this market are technology development, rising demand of non-contact thermometers, rapidly changing lifestyle, rising incidences of hypertension. On the other hand, stringent regulatory procedures, pricing pressure that is imposition of heavy tax on medical device manufacturers may hinder the growth of the market.
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Market Segmentation: Global Vital Signs Monitoring Market
The vital signs monitoring market is segmented into 3 types, namely blood pressure monitoring, pulse oximeter and temperature monitoring.
Blood pressure monitoring devices on the basis of product type are further segmented into aneroid BP monitors, automated BP monitors, ambulatory BP monitors and BP monitor device accessories. BP monitor device accessories are further segmented into, bulb and valve, tubing connectors, AC adapters and cuffs, rechargeable batteries and others.
Pulse oximeter on the basis of product type is sub segmented into tabletop/bedside pulse oximeter, fingertip pulse oximeter, handheld pulse oximeter, wrist worn pulse oximeter, pediatric pulse oximeter, and pulse oximeter device accessories. Pulse oximeter device accessories consist of adapter, finger probe; flex wrap probe, compatible sensors and others.
Temperature monitoring devices are segmented into mercury filled thermometers, digital thermometers, infrared thermometers, temperature strips and temperature monitoring device accessories. Temperature monitoring device accessories consist of power supply devices, connectors, pockets/wells, remote indicators and others.
On the basis of portability, the global vital signs monitoring market is segmented into portable and standalone devices.
On the basis of end-user, this market is segmented into hospitals, ambulatory surgical centers, home healthcare, clinics, diagnostic centers and others.
On the basis of distribution channel, the global vital signs monitoring market is segmented into hospital pharmacy, pharmacy stores, online websites, and others.
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Key Drivers: Global Vital Signs Monitoring Market
Some of the major factors driving the market for vital signs monitoring market are growing geriatric population and chronic diseases, technological development, rising demand of non-contact thermometers and rising incidence of hypertension.
- Rapidly changing lifestyle will also drive the growth of the market
- Strict regulatory processes may hinder the growth of the market.
Key Points: Global Vital Signs Monitoring Market
KONINKLIJKE PHILIPS N.V. is dominating the vital signs monitoring market followed by Medtronic and GE Healthcare along with others such as Welch Allyn, Inc., A&D Medical, Contec Medical Systems, Masimo Corporation, Mindray Medical International Limited, Nihon Kohden, Omron Healthcare, Inc., Smiths Medical, Dragerwerk AG & Co. KGaA, CAS Medical Systems, Inc., Spacelabs Healthcare, Inc., Boston Scientific, Nonin Medical, Natus Medical, Hicks Thermometers (India) Limited, and Halma plc among other companies.
- Blood pressure monitoring segment is expected to dominate the market in future along with the highest growing CAGR of 7.3% in the forecast period.
- Based on end user, hospital segment is expected to dominate the market in future along with the highest growing CAGR of 8.2% in the forecast period.
- Hospital pharmacy segment is expected to dominate the market in future along with the highest growing CAGR of 7.4% in the forecast period.
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