Vital parameter monitoring devices and equipment are essential medical tools used to measure and track critical physiological indicators such as blood pressure, oxygen saturation and body temperature. These devices are widely utilized in healthcare settings, including hospitals, clinics, ambulatory surgical centers and home care environments, to monitor patients' vital signs and ensure timely medical intervention when necessary.
The vital parameter monitoring devices and equipment market consists of sales, by entities (organizations, sole traders, or partnerships), of vital parameter monitoring devices and equipment that are used by healthcare professionals, such as doctors, nurses and paramedics, as well as patients who require continuous monitoring of vital signs due to medical conditions like hypertension, respiratory diseases, fever, or post-surgical recovery. Many devices, particularly digital blood pressure monitors, pulse oximeters and digital thermometers, are also used by individuals for at-home monitoring, enabling proactive health management and reducing the need for frequent hospital visits.
The global vital parameter monitoring devices and equipment market was valued at $4,726.09 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 10.00%.
Increased Demand For Affordable Medicines
Increased demand for affordable medicines drove the vital parameter monitoring devices and equipment market during the historic period. As healthcare systems and patients seek lower-cost treatment options, there is a stronger focus on early diagnosis and continuous monitoring to prevent complications that could lead to expensive medical interventions. Vital parameter monitoring devices enable proactive health tracking, reducing hospital admissions and minimizing the need for costly emergency care. For instance, in 2023, according to Association for Accessible Medicines, a trade association representing the manufacturers and distributors of generic prescription drugs, generic and biosimilar medicines saved $445 billion in the U.S., highlighting their crucial role in making healthcare more affordable. Therefore, increased demand for affordable medicines drove the vital parameter monitoring devices and equipment market.
Innovative Ambulatory Blood Pressure Monitoring Tools Transforming The Vital Parameter Monitoring Devices And Equipment Market
Leading companies in the vital parameter monitoring devices and equipment market are focusing on developing innovative solutions like multi-vital remote patient monitoring (MVRPM) to improve patient care, enhance health outcomes and enable real-time data collection and analysis. This technology allows for the remote tracking and assessment of multiple vital signs outside traditional healthcare settings, such as hospitals or clinics, facilitating early detection of health issues and reducing hospital readmissions. For instance, in January 2024, Blue Spark Technologies Inc., a US-based company that offers remote patient monitoring launched Vital Traq, an innovative multi-vital remote patient monitoring platform, marking a significant advancement in digital health technology. This platform utilizes Remote Photoplethysmography (rPPG), allowing users to collect vital sign measurements through a simple 30 to 60-second selfie scan. The readings include heart rate, heart rate variability, blood pressure and respiratory rate, all captured in a single contactless experience
The global vital parameter monitoring devices and equipment market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.09% of the total market in 2023.
Vital Parameter Monitoring Devices And Equipment Global Market Opportunities and Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global vital parameter monitoring devices and equipment market as it emerges from the COVID-19 shut down.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Where is the largest and fastest-growing market for vital parameter monitoring devices and equipment? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The vital parameter monitoring devices and equipment market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider vital parameter monitoring devices and equipment market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product type and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by product and by end-user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for vital parameter monitoring devices and equipment market providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product Type: Blood Pressure Monitoring Devices; Pulse Oximeters; Temperature Monitoring Devices; Other Product Types
- 2) By End-User: Hospitals; Clinics; Ambulatory Surgery Centers; Home Care Settings; Other End-Users
- Companies Mentioned: Medtronic plc; Koninklijke Philips; Masimo Corporation; Nihon Kohden Corporation; Dragerwerk AG & Co.
- Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria,; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; vital parameter monitoring devices and equipment indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.