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Global Vital Signs Monitoring Devices Market 2016-2020

  • Published: Oct 2016
  • Pages: 70
  • SKU: IRTNTR10400
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This market research report analyzes the leading vendors in the global vital signs monitoring devices market such as Medtronic, Philips Healthcare, Smiths Medical, and Welch Allyn. A comprehensive analysis of this market is also presented by product (body temperature monitoring devices, blood pressure monitoring devices, and pulse oximeters monitoring devices), by end user (hospitals and ACSs), and by geography (Americas, APAC, and EMEA).

Overview of the vital signs monitoring devices market growth

According to the vital signs monitoring devices market analysis, this market is anticipated to witness impressive growth and will post a CAGR of close to 7% over the forecast period. The augmented demand for home care monitoring equipment is one of the primary factors driving the vital signs monitoring devices market growth. Since most aged and critically ill patients require constant health monitoring and cannot afford frequent visits to hospitals, it is imperative to provide them with suitable home monitoring equipment. The home care monitoring equipment is cost-effective, easy-to-use, and helps monitor the patient’s health regularly. Moreover, multi-parameter patient monitors also contribute to reducing hospital cost and hospital stays, which will boost this market’s growth over the next four years. Also, the increasing focus on quality care and disease management will lead to an increase in the adoption of portable, self-care, multi-parameter patient monitoring devices, especially in developed countries.

Based on the vital signs monitoring devices market statistics, the Americas was the major revenue contributor during 2015 and is expected to lead the market over the coming years. The US is a major market for blood pressure monitors in this region. The recent increase in the number of public awareness campaigns by government and non-government organizations for cardiovascular diseases have compelled many people to undergo regular tests and check-ups. Also, the presence of a favorable reimbursement scenario in the US has allowed vendors to offer various health monitoring equipment. For instance, Medicare and Medicaid provide favorable reimbursement coverage for vital signs monitoring devices that include body temperature monitoring devices, blood pressure monitoring devices, and pulse oximeters.

Competitive landscape and key vendors

The global vital signs monitoring market analysis reveals the presence of several well-established players, such as Medtronic, Smiths Medical, and Welch Allyn. The top manufacturers prefer investing in product development and the expansion of their operations to other emerging geographies. Strong product portfolios coupled with a focus on R&D help companies maintain their market shares during the forecast period. Also, the smaller vendors are increasingly adopting organic growth strategies to improve their presence in the market. Furthermore, vendors are also focusing on opportunities in emerging markets such as China and India to increase their market traction. Additionally, with the growing demand for effective monitoring of chronic conditions such as respiratory and cardiac functions, the majority of vendors are increasingly focussing on the development of new products that feature better alarm functionality, and storage and analysis of data.

Key vendors in this market are 

  • Medtronic
  • Philips Healthcare
  • Smiths Medical
  • Welch Allyn

Other prominent vendors in the market include Briggs Healthcare, Drägerwerk, Edan Instruments, ERKA, Masimo, Microlife, Mindray Medical, Nihon Kohden, Nonin Medical, Omron Healthcare, Spacelabs Healthcare, and Withings.

Product segmentation and analysis of the vital signs monitoring market

  • Body temperature monitoring devices
  • Blood pressure monitoring devices
  • Pulse oximeters monitoring devices

During 2015, the body temperature monitoring devices segment accounted for the majority of revenue market shares and is likely to lead the market during the forecast period. Temperature monitoring is an essential element in modern healthcare as temperature affects numerous physiological factors of a patient. As a result, vendors are focusing on incorporating novel technologies and creating awareness about the use of these devices. Conventional mercury-based thermometers, non-contact infrared thermometer devices, and digital thermometers are some of the different varieties of temperature monitoring devices available in the market. The conventional mercury-based thermometers are the most commonly used thermometers for body temperature monitoring. They are used in home care settings, offices, clinics, and hospitals. The augmented demand for digital thermometers will aid in the vital signs monitoring devices market growth over the next four years.

Segmentation by end user and analysis of the vital signs monitoring market

  • Hospitals
  • ASCs

According to the industry research analysts, the hospitals market segment was the leading end-user segment during 2015 and will continue to dominate the market in the coming years. The majority of manufacturers of vital signs monitoring equipment focus on delivering their products to hospitals to improve brand image and expand their product reach. Hospitals are also looking to increase efficiency by adopting these devices for vital signs monitoring in individuals with chronic conditions. Moreover, multi-specialty hospitals and hospital groups work under government sponsorship and therefore they have a high budget, making it easy to procure medical products and consumables on bulk and engage closely with many suppliers, reimbursement authorities, and government organizations.

Key questions answered in the report include

  • What will the vital signs monitoring devices market worth and the growth rate be in 2020?
  • What are the key factors driving the global vital signs monitoring market?
  • What are the key market trends impacting the global vital signs monitoring devices market growth?
  • What are the challenges to market growth?
  • Who are the key vendors in the global vital signs monitoring market?
  • What are the market opportunities and threats faced by the vendors in the global vital signs monitoring market?
  • What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the global vital signs monitoring market?

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Table of Content

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights
  • Patient monitoring devices

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Market segmentation by product

  • Body temperature monitoring devices
  • Blood pressure monitoring devices
  • Pulse oximeters monitoring devices

PART 07: Market segmentation by end-user

  • Hospitals
  • ASCs
  • Other settings

PART 08: Geographical segmentation

  • Vital signs monitoring devices market in Americas
  • Vital signs monitoring devices market in EMEA
  • Vital signs monitoring devices market in APAC

PART 09: Market drivers

  • Paradigm shift toward minimally and non-invasive hemodynamic monitoring
  • Evolution of remote patient monitoring equipment
  • High demand for advanced algorithm-based monitoring equipment
  • Increased focus on online promotional and marketing strategies
  • Improved reimbursement facilities for blood pressure monitors
  • Increase in demand for home care monitoring equipment
  • Vital signs monitoring over a wireless network

PART 10: Impact of drivers

PART 11: Market challenges

  • Competitive pricing pressure and presence of counterfeit products
  • Intense competition among vendors
  • Increasing threat from alternatives
  • Continued market domination of existing vendors
  • Challenges related to business and regulatory issues

PART 12: Impact of drivers and challenges

PART 13: Market trends

  • Growing adoption of product bundling strategy by vendors
  • Remote hemodynamic monitoring
  • Growing use of multiparameter vital sign devices
  • Advances in technology
  • Improving focus on preventive treatment

PART 14: Vendor landscape

  • Competitive scenario
  • Other prominent vendors

PART 15: Key vendor analysis

  • Geographic presence: Key vendor analysis
  • Medtronic
  • Philips Healthcare
  • Smiths Medical
  • Welch Allyn

PART 16: Appendix

  • List of abbreviations

PART 17: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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