Vital signs monitoring systems include essential devices that help keeping track of the vital body organs without constant assistance from the medical and healthcare professionals. They help keeping track of the most essential signs of human body including pulse rate, blood pressure, body temperature and respiration. Keeping a check on all these vital signs is the essential duty in the process of complete nursing care. Global medical and healthcare industry has witnessed great revolution with the inclusion of technologically sound and portable devices. Increasing demand is the strong reason behind growing size of both blood pressure monitoring devices market and pulse oximeters market. Both these segments are the largest parts of the global vital signs monitoring system market.
Segmentation
While global vital signs monitoring systems industry is largely segmented into three basic types – temperature monitoring, pulse oximeters and blood pressure monitoring; these three segments have further sub-segmentation. Pulse oximeters market is segmented based on the types of devices, which include the following products:
- Fingertip
- Handheld
- Pediatric pulse-oximeters
- Tabletop/bedside pulse-oximeters
- Wrist worn
Blood pressure monitoring devices market on the other hand is segmented based on the types of devices that include:
- Aneroid blood pressure monitors
- Automated blood pressure monitors
Both the aforementioned markets are further segmented based on the demand patterns across various geographical regions. These regions include North America, Europe, Asia Pacific and rest of the world (RoW). Demand patterns across these regions are segmented further on the basis of the countries and dominating regions within the countries. Understanding this basis segmentation is crucial for complete understanding of both these markets.
Forecasting
Global vital signs monitoring industry is largely dominated by pulse oximeters market, which is followed by blood pressure monitoring devices market. Based on the current market trends and existing research reports from 2010 to 2018, the global industry is expected to witness steady growth. Within the span of next four to five years, the industry is estimated to grow at a CAGR of over 6%. At this rate, the market is poised to become approximately worth $4,375 million by 2018. During 2012, the entire market was worth $3,148 million. The growth in the market is credited to the rising number of aging population, added attention to healthcare segment in both developed and developing countries, technological advancements in the industry and increasing practices and awareness towards home healthcare are the biggest driving factors for the market. Both blood pressure and pulse oximeters industries are estimated to continue with the current growth pattern, which is a positive sign for the new entrants in the industry.
