Overview and Scope
Vital parameter monitoring devices and equipment are used to monitor critical parameters such as blood pressure, heart rate, and other physiological parameters.
Sizing and Forecast
The vital parameter monitoring devices and equipment market size has grown strongly in recent years. It will grow from <b>$7.33 billion in 2023 to $7.95 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. </b> The growth in the historic period can be attributed to aging population, chronic diseases, patient empowerment, healthcare digitization.
The vital parameter monitoring devices and equipment market size is expected to see strong growth in the next few years. It will grow to <b>$10.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. </b> The growth in the forecast period can be attributed to remote patient monitoring, personalized medicine, preventive healthcare, value-based healthcare. Major trends in the forecast period include wearable technology, ai and machine learning, telemonitoring expansion, smart home integration.
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Segmentation & Regional Insights
The vital parameter monitoring devices and equipment market covered in this report is segmented –
1) By Product Type: Blood Pressure Monitoring Devices, Pulse Oximeters, Temperature Monitoring Devices
2) By Blood Pressure Monitoring Devices: Aneroid BP Monitors, Digital BP Monitors, Ambulatory BP Monitors, Blood Pressure Instrument Accessories
3) By Pulse Oximeters: Table-top/Bedside Pulse Oximeters, Fingertip Pulse Oximeters, Hand-held Pulse Oximeters, Wrist-worn Pulse Oximeters, Pediatric Pulse Oximeters
4) By Temperature Monitoring Devices: Digital Thermometers, Infrared Thermometers, Temperature Strips
5) By End User: Hospitals, Clinics, Ambulatory Surgery Centers, Home Care Settings
<b>Asia-Pacific</b> was the largest region in the global vital parameter monitoring devices and equipment market in 2023. <b>North America</b> was the second-largest region in the vital parameter monitoring devices and equipment market share. The regions covered in the vital parameter monitoring devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The increase in the geriatric population is expected to boost the growth of the vital parameter monitoring devices and equipment market going forward. The geriatric population refers to the percentage of people 65 and older to those between the ages of 18 and 64 who are employed. The increasing elderly population globally requires continuous monitoring of vital signs, contributing to the demand for monitoring devices and equipment. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. The number of persons who are 80 years of age or older will increase by 426 million between 2020 and 2050 compared to the current population. Therefore, the increase in the geriatric population is driving the growth of the vital parameter monitoring devices and equipment market.
Key Industry Players
Major companies operating in the vital parameter monitoring devices and equipment market include <b> Hill-Rom Holdings Inc., Halma plc, Masimo Corporation, General Electric Company, Medtronic plc, Nihon Kohden Corporation, Koninklijke Philips N.V., A&D Company Limited, Contec Medical Systems Co. Ltd., Nonin Medical Inc., Omron Corporation, Smiths Group plc, Spacelabs Healthcare, CAS Medical Systems Inc., Dragerwerk AG & Co., Briggs Healthcare Corp., OSI Systems Inc., Mindray Medical International Limited, Caretaker Medical LLC, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Boston Scientific Corporation, Hicks Inc., Covidien plc, Bosch GmbH, Biotronik Inc., Intel Corporation, Health anywhere Inc, Johnson & Johnson, Schiller AG, Edwards Lifesciences, Nonin Medical Inc., Hill-Rom Holdings Inc., Midmark Corporation, Baxter International Inc., ICU Medical Inc. </b>
The vital parameter monitoring devices and equipment market report table of contents includes:
1. Executive Summary
2. Vital Parameter Monitoring Devices And Equipment Market Characteristics
3. Vital Parameter Monitoring Devices And Equipment Market Trends And Strategies
4. Vital Parameter Monitoring Devices And Equipment Market – Macro Economic Scenario
5. Global Vital Parameter Monitoring Devices And Equipment Market Size and Growth
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31. Global Vital Parameter Monitoring Devices And Equipment Market Competitive Benchmarking
32. Global Vital Parameter Monitoring Devices And Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Vital Parameter Monitoring Devices And Equipment Market
34. Vital Parameter Monitoring Devices And Equipment Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Hill-Rom Holdings Inc
Halma PLC
Masimo Corporation
General Electric Company
Medtronic PLC
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