Vital Signs Monitoring Market, By Product Type (Blood Pressure Monitoring, Pulse Oximeter, Temperature Monitoring Device), By Portability (Standalone, Portable), By End-User (Hospitals, Ambulatory Centers, Home Healthcare, Clinics, Others), By Distribution Channel (Hospital Pharmacy, Pharmacy Stores, Online Websites, Others) Geography
Pune, India -- (SBWIRE) -- 06/18/2018 -- Global Vital Signs Monitoring Market is expected to reach USD 6,696.59 million by 2024 from USD 4,125.00 million in 2016, at a CAGR of 6.5% in the forecast period 2017 to 2024. The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Segmentation: Global Vital Signs Monitoring Market
By Product Type (Blood Pressure Monitoring, Pulse Oximeter, Temperature Monitoring Device), By Portability (Standalone, Portable), By End-User (Hospitals, Ambulatory Centers, Home Healthcare, Clinics, Others), By Distribution Channel (Hospital Pharmacy, Pharmacy Stores, Online Websites, Others) Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa)
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The major factors driving the growth of this market are technology development, rising demand of non-contact thermometers, rapidly changing lifestyle, rising incidences of hypertension.
GROWING GERIATRIC POPULATION AND CHRONIC DISEASES
As the number of older adults is increasing, the demand on public health systems and on medical and social services is also increasing. Increase in hypertension, temperature, etc. causes demand for vital sign monitoring devices. High blood pressure can lead to heart diseases, kidney diseases, and heart stroke and also cause death at times. Causing of several diseases like coronary artery disease, dementia, kidney failure, kidney artery aneurysm etc. affect older adults to disability, low quality of life, increase in health and long term care costs. Before the detection of any disease, it becomes a compulsion to have the vital sign monitoring. Thus with the growing number of diseases, the demand for vital sign monitoring is also increasing.
With the advancement in technologies and the trend of digital devices, there has been a tremendous increase in the demand of wireless devices. Also along with the awareness of treatments of all diseases, people tend to cure and take treatments as early as it is possible for them. The emergence of e-patients (people using internet and electronic communication tools to research and communicate about medical conditions) has given a new start for healthy ageing era. Telemedicine technology has helped the healthcare systems to sustain and thus encourage health care infrastructure to grow more. This technology helps health care professionals to communicate and exchange valuable and valid information till patients and needy.
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RISING DEMAND OF NON CONTACT THERMOMETERS
Temperature is one of the commonly seen vital sign in individuals. Thermometers used for measuring temperature are available in wide range. Thermometers have a wide range like contact thermometers (rectal, axillary or oral), chemical thermometers (forehead), infrared thermometers (tympanic, temporal artery) and mercury thermometers . Non-Contact infrared thermometers (NCIT) can be used to measure temperature non-invasively and rapidly and can provide temperature readings in seconds. Most of the NCIT's measure temperature over forehead but temperature over body surface can also be measured in cases if the child is moving. NCIT's prove to be useful because use of these thermometers do not involve any body contact.
Major Players: Global Vital Signs Monitoring Market
Some of the major players operating in this market are Welch Allyn, Inc., A&D Medical, Contec Medical Systems, Masimo Corporation, Mindray Medical International Limited, Nihon Kohden, Omron Healthcare, Inc., Smiths Medical, Dragerwerk AG & Co. KGaA, Medtronic, GE Healthcare, CAS Medical Systems, Inc., Spacelabs Healthcare, Inc., Boston Scientific, Nonin Medical, Natus Medical, Hicks Thermometers (India) Limited, and Halma plc, KONINKLIJKE PHILIPS N.V. among other companies.
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