Global Vital Signs Monitoring Devices Market to Reach USD 9.1 Billion by 2026

The global vital signs monitoring devices market was valued at USD 4.7 billion in 2018 and is expected to grow at a CAGR of 8.7% during the forecast period 2019-2026 to reach USD 9.1 billion by 2026. The market growth will be driven by the increasing prevalence of lifestyle-associated chronic conditions and rising demand for advanced monitoring devices in the developing countries, such as China, India, Thailand, and Brazil. Additionally, the availability of monitoring systems at competitive prices and rising disposal income is expected to fuel the market growth during the forecast period.

These are the latest findings of Grand View Research, Inc. (San Francisco, CA, USA), a market research and consulting company.

Moreover, the introduction of advanced, integrated vital signs monitoring solutions and growing trends of usage of these devices in home healthcare settings, as well as all time wearable devices for chronic patients, are further expected to drive the market growth during the forecast period.

Based on product, the blood pressure monitors segment held the largest share of the global vital signs monitoring devices market in 2018 and is expected to grow at a lucrative CAGR of over 8.0% during the forecast period. The segment’s growth will be driven by the increasing incidence of hypertension and increasing demand for blood pressure monitors designed for personal use, with compatible, affordable, easy-to-use blood pressure monitoring devices rapidly replacing conventional devices.

Based on end-user, the hospital segment dominated the global vital signs monitoring devices market in 2018 and is expected to maintain its leading position during the forecast period, driven by a huge patient pool, financing capability, and requirement of vital signs monitors in bulk. Additionally, the lack of skilled professional and demand for advanced methods for continuous and accurate patient monitoring solutions are expected to drive the growth of the hospital segment. Moreover, the availability of integrated devices and patient monitoring suits specially designed for operating rooms will fuel the segment’s market in the developed as well as developing countries.

Geographically, North America dominated the global vital sign monitoring devices market with the largest share in 2018 due to the major market players based in the region and its high adoption rate for advanced technology. The rising penetration of medical insurance and blooming medical tourism in countries such as Singapore, Canada, Costa Rica, Ecuador, India, Israel, Jordan, Malaysia, Mexico, Singapore, South Korea, Taiwan, Thailand, and Turkey will also drive the overall market growth.

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