According to Arizton’s latest research report, the vital sign monitoring devices market is growing at a CAGR of 8.36% during 2022-2028.
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The vital sign monitoring devices landscape has become more complex and competitive after the COVID-19 outbreak. Although the demand for vital monitors during the pre-pandemic phase was high, the emergence of the COVID-19 pandemic accelerated the adoption of vital signs monitoring devices worldwide. Also, the pandemic contributed to the surge in awareness of these devices, advances in product development, and an increase in the application rate for individual care management. The pandemic overwhelmed the healthcare infrastructure worldwide.
Recent advances in vital sign monitoring devices with the integration of Deep Learning (DL) and Machine Learning (ML) have strengthened the power of imaging techniques to remotely perform many tasks that previously required physical intervention by medical professionals. Also, launching advanced wearable vital signs monitoring devices has positively influenced market growth. The unprecedented expansion of the aging population and the rise in the prevalence of associated chronic conditions have accelerated the demand for healthcare services in hospitals, ambulatory care centers, and other health establishments with a high disease burden. Thus, the rise in the preference for outpatient care settings and remote patient monitoring options has fueled the adoption of vital signs monitoring devices worldwide.
The U.S. vital signs monitoring devices market will reach USD 11.21 billion by 2028, growing at a CAGR of 7.62%.
The U.S. vital signs monitoring devices market is highly competitive and has several major players. The industry is fragmented, with various global, local, and regional manufacturers. Owing to continuous technological advancements and product innovations, mid-sized and emerging vendors are increasing their market presence by introducing new products at competitive prices. Also, the market potential drives several players to expand their share through acquisitions. Many U.S. vital signs monitoring devices market vendors are adopting various strategies to increase their presence in many major markets.
A&D Company, Baxter, CONTEC MEDICAL SYSTEMS, GE Healthcare, ICU Medical, Koninklijke Philips, Masimo, Medtronic, NIHON KOHDEN, Nonin, OMRON, and OSI Systems are some of the significant vendors offering a wide range of both standalone and integrated vital signs monitors in the U.S. vital signs monitoring devices market. However, many local vendors are providing products with similar specifications at lower prices, which has resulted in a price war among vendors. Major vendors continuously compete for the leading position in the market, with occasional competition from other local vendors.
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.
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Key Company Profiles
- A&D Company
- Contec Medical Systems
- GE Healthcare
- ICU Medical
- Koninklijke Philips
- NIHON KOHDEN
- OSI Systems
- American Diagnostic
- Advanced Instrumentations
- Cardinal Health
- Compass Health Brands
- Drägerwerk AG & Co.
- EDAN Instruments
- FUKUDA DENSHI
- Infinium Medical
- Mennen Medical
- Rossmax International
- Solaris Medical Technology
- Sunset Healthcare Solutions
- Turtle Shell Technologies Pvt. Ltd.
- Viatom Technology
- VYAIRE MEDICAL
- Better Life Medical Technology
- aXcent medical
- General Meditech
- Clarity Medical
- Hicks Thermometers India
- medical Econet
- Shenzhen Creative Industry
- GETEMED Medical and Information Technology
- Shenzhen Unicare Electronic
- Opto Circuits (India)
- Beijing Choice Electronic Technology
- Shenzhen Mindray Bio-Medical Electronics
- Remote Diagnostic Technologies
- AVI Healthcare
- Recorders & Medicare Systems
- Acare Technology
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- Product Type: Standalone Vital Sign Monitors (Heart Rate/ Cardiac Monitors, Pulse Oximeter, Blood Pressure Monitors, and Body Temperature Monitors) and Integrated Vital Sign Monitors
- Patient Group: Geriatric, Pediatric, and Adults
- Application: Chronic Care and Acute Care
- End-users: Hospitals, Outpatient Care Settings, Homecare Settings & Individuals, and Others
- Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Key Questions Answered in the Report:
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