Increasing adoption of advanced magnifying devices and growing spotlight on nano technology is major contributor of the market
HYDERABAD, TELANGANA, INDIA, November 30, 2018 /EINPresswire.com/ — Vital signs are measurements of the body's most basic functions. The four main vital signs are Body temperature, Pulse rate, Respiration rate (rate of breathing) and Blood pressure (Blood pressure is not considered a vital sign, but is often measured along with the vital signs. These are routinely monitored by medical professionals and health care providers with Vital signs monitoring devices. They help in early diagnosis of a chronic disease.
The market analysis predicts that Vital Signs Monitoring Market with a CAGR of 6.7% is aimed to reach USD 6.04 billion by 2023, which valued at USD 4.37 million by the end of 2018.
Vital signs can be measured at home, in a medical setting, at the site of a medical emergency, or any other place. The normal ranges for a person’s vital signs vary with gender, weight, age and overall health condition.
The Vital signs Monitoring Market is primarily driven by the entry of a lot of innovative products, paradigm shift towards home healthcare services, increasing instances of chronic diseases. Augmenting geriatric population, greater market penetration of insurance companies, and medical tourism on the rise in the emerging economies, increased adoption of the process by customers in clinical diagnosis, demand for personalized healthcare, upsurge of population and many unexplored markets, are the secondary factors driving the growth of this market.
However, the lack of proper infrastructure, insufficient government aid, scarcity of market professionals, accurate analysis of the end data, and other few elements may control the exponential growth of the Global Vital Signs Monitoring Markets.
You can have a better picture of the global markets with our full report and it provides the acumen in key areas helpful in future planning. As per our report, the global Vital Signs Monitoring Market is categorized on the basis of product, end user and geographical regions.
On the basis of product, the market is separated into
• BP monitoring devices
• Temperature monitoring devices
Pulse oximeters are the market leader by product and are expected to remain so in the aforementioned forecast period. Increasing demand in emergency medical care is the reason behind this trend.
On the basis of end user, the market is separated into
• Physician’s Office
• Home Healthcare
• Ambulatory Centers
• Emergency Care Centers
• Other Healthcare Settings
In 2018, the end user hospitals segment captured the largest market share holds the major market revenue and estimated to continue the similar trend for coming years.
On the basis of regional distribution, the market is separated into
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
North America is the largest regional market. Augmenting geriatric population, increasing cases of interminable disorders etc. are the reasons attributable to the observable trend mentioned above. Europe accounted for the second largest market share. Increasing death rate and rising demand for cost effective treatment are the reasons behind this trend. Asia Pacific is anticipated to be the fastest growing market in the aforementioned forecast period. Extensive unmet needs especially primary healthcare the reasons behind this. Furthermore, increased medical tourism in this region is attracting a lot of market players for investment in this part of the world.
Key players in the market are
• Koninklijke Philips N.V.
• Nihon Kohden Corporation
• GE Healthcare
• Omron Healthcare
Other players in the market include Contec Medical Systems Co. Ltd, A&D Company Ltd., Nonin Medical Inc., and SunTech Medical, Inc.
Scope of the report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
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Source: EIN Presswire