U.S. Vital Signs Monitoring Devices Market to Reach USD 11 Billion by 2028, Growing at a CAGR of 7.6% - Arizton
09 Feb 2023
Acquisition
CHICAGO, Feb. 9, 2023 /PRNewswire/ -- According to Arizton's latest research report, the U.S. vital signs monitoring devices market will grow at a CAGR of 7.6% from 2022 to 2028. Increasing demand for wireless patient monitoring at home, the rise of virtual clinical trials, advances in remote patient monitoring technology, and upcoming technologies in vital signs monitoring are trends in the market. Vendors are leveraging innovative technology platforms to develop vital signs monitoring devices with advanced features. Vendors strategically focus on the development and commercial launches of their standalone or integrated vital signs monitors for patients' vital signs. New product approvals/launches coupled with R&D activities assist vendors in expanding their presence, enhancing market growth, and sustaining their market position in the vital signs monitoring devices market.
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The COVID-19 pandemic has accelerated the shift and made healthcare settings reduce costs and increase value-based treatments provided in the market. Vendors in vital sign monitoring and remote patient monitoring have a significant opportunity to handle the shift in the healthcare landscape in this scenario. Most patients are treated more for chronic diseases than other conditions, and a major portion of the healthcare expenditure in the US goes toward treating and monitoring chronic diseases; therefore, vital signs monitors, and remote patient monitoring devices will have a major impact on the future of the US healthcare market. Post-COVID-19 healthcare settings have invested hugely in virtual care, online consultations, and home healthcare. Zyter, a US-based startup, providing telehealth and IoT-enabled platforms, recently launched its home health and RPM solution. The solution tracks data from a blood pressure cuff, pulse oximeter, digital weight scale, or blood glucose monitor from the comfort of home. The US Military currently uses the system to track the condition of military personnel admitted in ICUs at various military bases worldwide from a central location in the US.
U.S. Vital Signs Monitoring Devices Market Report Scope
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Recent Vendor's Activities in the U.S. Vital Signs Monitoring Devices Market
In January 2022, ICU Medical acquired Smiths Medical. The addition of vital care products expanded the business range of ICU Medical with a robust reach.
In December 2021, Baxter acquired Hillrom, a medical technology leader. Before that, in January 2021, Hillrom acquired Bardy Diagnostics, an innovator in digital health and a leading provider of ambulatory cardiac monitoring technologies.
In February 2021, Koninklijke Philips completed the acquisition of BioTelemetry. The acquisition of BioTelemetry is a strong fit with Philips' cardiac care portfolio. The combination results in the business expansion of patient care management solutions for the hospital and homes.
Key Company Profiles
Baxter
Koninklijke Philips
Masimo
NIHON KOHDEN
Nonin
100-Plus
Advanced Instrumentations
Cardinal Health
Drägerwerk AG & Co.
FUKUDA DENSHI
Halma
NURECA
Oxitone
Viatom Technology
VYAIRE MEDICAL
Market Segmentation
Product
Standalone Vital Sign Monitoring Devices
Heart Rate/Cardiac Monitors
Pulse Oximeters
Blood Pressure Monitors
Body Temperature Monitors
Integrated Vital Sign Monitoring Devices
Application
Acute Care
End-user
Hospitals
Homecare Settings & Individuals
Ambulatory Care Settings
Others
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U.S. Tele-Intensive Care Unit (ICU) Market - The U.S. Tele-Intensive Care Unit market is expected to grow at a CAGR of 20.13% from 2022 to 2027. Tele- Intensive Care Unit (ICU) refers to electronic communications to transfer health information from one hospital critical care unit to another. Tele-Intensive Care Unit intensivists work with multiple care facilities in real time, regardless of location.
Virtual Visits Market - The global virtual visits market will grow at a CAGR of 27.15%. In the virtual visit, a patient or medical professional uses a computer, smartphone, or tablet to obtain a diagnosis and send a prescription to their pharmacy. The visit is completed without leaving home or the workplace and amounts to far less than the cost of an emergency room or primary care office visit. Virtual visits are available to Health Action Council members and their employees from various vendors and providers. With the increasing telehealth utilization, there is also an increase in the adoption of virtual visit platforms. From 2017 to 2019, the virtual visit doubled for Health Action Council members.
U.S. Remote Patient Monitoring Market - The US remote patient monitoring market will grow at a CAGR of 12.6% during 2021-2027. The rising adoption of telemedicine, the increasing prevalence of chronic diseases, and a paradigm shift toward home healthcare drive the market's growth.
Cardiac Monitoring Market - The global cardiac monitoring market will grow at a CAGR of 6% during the forecast period. This surge in cardiac monitoring market growth is attributed to the growing prevalence of Atrial fibrillation worldwide. COVID-19 led to an increasing preference for remote monitoring of patients with cardiovascular conditions. The government and some vendors have also taken various steps to raise awareness among patients and the public. The market is expected to grow significantly in the upcoming years due to increasing technological advancements, new product launches, an increasing elderly population, and reimbursement policies for implantable cardiac monitors & other ambulatory devices.
Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY PRODUCT
4.3.2 MARKET SEGMENTATION BY PATIENT GROUP
4.3.3 MARKET SEGMENTATION BY APPLICATION
4.3.4 MARKET SEGMENTATION BY END-USER
4.3.5 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
7.1 MARKET OVERVIEW
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 COVID-19 IMPACT
8.1.2 REIMBURSEMENT SCENARIO FOR VITAL SIGNS MONITORS
8.1.3 WEARABLE TECHNOLOGY IN VITAL SIGNS MONITORING DEVICES
9 MARKET OPPORTUNITIES & TRENDS
9.1 INCREASING DEMAND FOR WIRELESS PATIENT MONITORING AT HOME
9.2 RISE OF VIRTUAL CLINICAL TRIALS
9.3 ADVANCES IN REMOTE PATIENT MONITORING TECHNOLOGY
9.4 UPCOMING TECHNOLOGIES IN VITAL SIGNS MONITORING
10 MARKET GROWTH ENABLERS
10.1 INCREASING PREVALENCE OF CHRONIC DISORDERS AUGMENTING CONTINUOUS
MONITORING DEMAND
10.2 ENCHANCEMENTS IN VITAL SIGNS MONITORS
10.3 INCREASED PREFERENCE FOR INTEGRATED VITAL SIGNS MONITORS
10.4 INCREASING FOCUS ON DEVELOPING SOFTWARE & APPS FOR VITAL SIGNS
MONITORING BY MANUFACTURERS
11 MARKET RESTRAINTS
11.1 CYBERSECURITY & RELATED LIMITATIONS WITH VITAL SIGNS MONITORS
11.2 FALSE ALARMS & ALARM FATIGUE ASSOCIATED WITH VITAL SIGNS MONITORS
11.3 INTENSE COMPETITION COUPLED WITH PRICING PRESSURES
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.2.1 PRODUCT SEGMENTATION INSIGHTS
12.2.2 PATIENT GROUP SEGMENTATION INSIGHTS
12.2.3 APPLICATION SEGMENTATION INSIGHTS
12.2.4 END-USER SEGMENTATION INSIGHTS
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 THREAT OF RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 STANDALONE VITAL SIGNS MONITORS
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 HEART RATE/CARDIAC MONITORS
13.3.4 PULSE OXIMETERS: MARKET SIZE AND FORECAST
13.3.5 BLOOD PRESSURE MONITORS: MARKET SIZE AND FORECAST
13.3.6 BODY TEMPERATURE MONITORS
13.4 INTEGRATED VITAL SIGNS MONITORS
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
14 PATIENT GROUP
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 GERIATRIC PATIENT GROUP
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.4 ADULT PATIENT GROUP
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.5 PEDIATRIC PATIENT GROUP
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
15 APPLICATION
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 CHRONIC CARE
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.4 ACUTE CARE
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
16 END-USER
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.2.1 KEY BUYING CRITERIA AND BUYING BEHAVIOR PATTERNS
16.3 HOSPITALS
16.3.1 MARKET OVERVIEW
16.3.2 MARKET SIZE & FORECAST
16.4 AMBULATORY CARE SETTINGS
16.4.1 MARKET OVERVIEW
16.4.2 MARKET SIZE & FORECAST
16.5 HOMECARE SETTINGS & INDIVIDUALS
16.5.1 MARKET OVERVIEW
16.5.2 MARKET SIZE & FORECAST
16.6 OTHERS
16.6.1 MARKET OVERVIEW
16.6.2 MARKET SIZE & FORECAST
17 COMPETITIVE LANDSCAPE
17.1 COMPETITION OVERVIEW
17.1.1 VENDORS RECENT ACTIVITIES: M&AS AND PRODUCT LAUNCHES
17.2 MARKET SHARE ANALYSIS
17.2.1 A&D COMPANY
17.2.2 BAXTER
17.2.3 CONTEC MEDICAL SYSTEMS
17.2.4 GE HEALTHCARE
17.2.5 ICU MEDICAL
17.2.6 KONINKLIJKE PHILIPS
17.2.7 MASIMO
17.2.8 MEDTRONIC
17.2.9 NIHON KOHDEN
17.2.10 NONIN
17.2.11 OMRON
17.2.12 OSI SYSTEMS
18 KEY COMPANY PROFILES
18.1 A&D COMPANY
18.1.1 BUSINESS OVERVIEW
18.1.2 PRODUCT OFFERINGS
18.1.3 KEY STRATEGIES
18.1.4 KEY STRENGTHS
18.1.5 KEY OPPORTUNITIES
18.2 BAXTER
18.2.1 BUSINESS OVERVIEW
18.2.2 PRODUCT OFFERINGS
18.2.3 KEY STRATEGIES
18.2.4 KEY STRENGTHS
18.2.5 KEY OPPORTUNITIES
18.3 CONTEC MEDICAL SYSTEMS
18.3.1 BUSINESS OVERVIEW
18.3.2 PRODUCT OFFERINGS
18.3.3 KEY STRATEGIES
18.3.4 KEY STRENGTHS
18.3.5 KEY OPPORTUNITIES
18.4 GE HEALTHCARE
18.4.1 BUSINESS OVERVIEW
18.4.2 PRODUCT OFFERINGS
18.4.3 KEY STRATEGIES
18.4.4 KEY STRENGTHS
18.4.5 KEY OPPORTUNITIES
18.5 ICU MEDICAL
18.5.1 BUSINESS OVERVIEW
18.5.2 PRODUCT OFFERINGS
18.5.3 KEY STRATEGIES
18.5.4 KEY STRENGTHS
18.5.5 KEY OPPORTUNITIES
18.6 KONINKLIJKE PHILIPS
18.6.1 BUSINESS OVERVIEW
18.6.2 PRODUCT OFFERINGS
18.6.3 KEY STRATEGIES
18.6.4 KEY STRENGTHS
18.6.5 KEY OPPORTUNITIES
18.7 MASIMO
18.7.1 BUSINESS OVERVIEW
18.7.2 PRODUCT OFFERINGS
18.7.3 KEY STRATEGIES
18.7.4 KEY STRENGTHS
18.7.5 KEY OPPORTUNITIES
18.8 MEDTRONIC
18.8.1 BUSINESS OVERVIEW
18.8.2 PRODUCT OFFERINGS
18.8.3 KEY STRATEGIES
18.8.4 KEY STRENGTHS
18.8.5 KEY OPPORTUNITIES
18.9 NIHON KOHDEN
18.9.1 BUSINESS OVERVIEW
18.9.2 PRODUCT OFFERINGS
18.9.3 KEY STRATEGIES
18.9.4 KEY STRENGTHS
18.9.5 KEY OPPORTUNITIES
18.10 NONIN
18.10.1 BUSINESS OVERVIEW
18.10.2 PRODUCT OFFERINGS
18.10.3 KEY STRATEGIES
18.10.4 KEY STRENGTHS
18.10.5 KEY OPPORTUNITIES
18.11 OMRON
18.11.1 BUSINESS OVERVIEW
18.11.2 PRODUCT OFFERINGS
18.11.3 KEY STRATEGIES
18.11.4 KEY STRENGTHS
18.11.5 KEY OPPORTUNITIES
18.12 OSI SYSTEMS
18.12.1 BUSINESS OVERVIEW
18.12.2 PRODUCT OFFERINGS
18.12.3 KEY STRATEGIES
18.12.4 KEY STRENGTHS
18.12.5 KEY OPPORTUNITIES
19 OTHER PROMINENT VENDORS
19.1 100-PLUS
19.2 ADVANCED INSTRUMENTATIONS
19.3 AMERICAN DIAGNOSTIC
19.4 BITTIUM
19.5 CARDINAL HEALTH
19.6 COMPASS HEALTH BRANDS
19.7 DRÄGERWERK AG & CO.
19.8 EDAN INSTRUMENTS
19.9 FUKUDA DENSHI
19.1 HALMA
19.11 INFINIUM MEDICAL
19.12 MENNEN MEDICAL
19.13 MICROLIFE
19.14 NURECA
19.15 OXITONE
19.16 QARDIO
19.17 ROSSMAX INTERNATIONAL
19.18 SOLARIS MEDICAL TECHNOLOGY
19.19 SUNSET HEALTHCARE SOLUTIONS
19.20 VIATOM TECHNOLOGY
19.21 VITALCONNECT
19.22 VIVALNK
19.23 VYAIRE MEDICAL
20 REPORT SUMMARY
20.1 KEY TAKEAWAYS
20.2 STRATEGIC RECOMMENDATIONS
21 QUANTITATIVE SUMMARY
21.1 MARKET BY PRODUCT
21.2 MARKET BY PATIENT GROUP
21.3 MARKET BY APPLICATION
21.4 MARKET BY END-USER
22 APPENDIX
22.1 ABBREVIATIONS
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Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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