OEM Patient Monitoring Vital Sign OEM Module Market Analysis

Global OEM Patient Monitoring and Vital Sign OEM Module Market Overview

OEM Patient Monitoring and Vital Sign OEM Module Market Size was valued at USD 12.23 Billion in 2023. The Global OEM Patient Monitoring and Vital Sign OEM Module industry is projected to grow from USD 12.62 Billion in 2024 to USD 23.17 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.36% during the forecast period (2024 - 2032).

The imperative factors that have been studied and are positively impacting the growth of the market are the growing demand for wearable devices and the increasing demand for continuous patient monitoring devices, which are fueling market growth.

OEM Patient Monitoring and Vital Sign OEM Module Market Trends

• Growing demand for wearable devices boosts market growth.

The growing need for wearable patient monitoring devices is crucial for continuous temperature monitoring, glucose monitoring, pulse oximetry, biosensors, and blood pressure monitoring. These are some of the features of wearable patient monitoring devices. Additionally, the Internet of Things connects these features to wearable patient monitoring devices due to the wide range of applications. Moreover, the rapid development of the IoT makes it easy to monitor patient information. For example, in July 2020, Medtronic plc (Ireland) received US Food Drug and Administration and Conformité Européenne (CE) clearances for its LINQ II Insertable Cardiac Monitor (ICM). LINQ II is a small wireless ICM for patients with abnormal heart rhythms and for those who require long-term monitoring.

Furthermore, technological advancements in patient monitoring devices are expected to accelerate market growth in the future. Amid the rising demand for the latest technology to be used in patient monitoring devices, the OEM companies have started investing a huge amount in their R&D activities in developing advanced modules & components of patient monitoring and vital sign monitoring system. For instance, in July 2021, VoCare, Inc. (US), launched Vital360, an all-in-one, handheld patient health monitoring device. Vital360 is an advanced grade health monitoring tool that combines multiple biometric measurements in a single handheld device. Such advancements are likely to accelerate the market growth of patient monitoring devices in the future.

OEM Patient Monitoring and Vital Sign OEM Module Market Segment Insights

OEM Patient Monitoring and Vital Sign OEM Module Product Type Insights

The OEM Patient Monitoring and Vital Sign OEM Module Market segmentation, based on product type, includes hemodynamic monitoring devices, neuromonitoring devices, cardiac monitoring devices, fetal & neonatal monitoring devices, respiratory monitoring devices, remote patient monitoring devices, temperature monitoring devices, and others. The hemodynamic monitoring devices segment accounted for the largest market share in 2021. Hemodynamic monitoring devices are the devices that measure the pressure, flow, and oxygenation of blood within the cardiovascular system. OEM hemodynamic monitoring device modules are used in the products used for hemodynamic monitoring purposes. Moreover, these devices make it easier to manage type 1 or type 2 diabetes. According to the WHO, in 2019, diabetes was the ninth leading cause of death with an estimated 1.5 million deaths around the globe. According to CDC’s (Centers for Disease Control) National Diabetes Statistics Report for 2020, 34.2 million people, or 10.5% of the U.S. population, have diabetes.

September 2021: Suntech Medical Inc. (US), a subsidiary of Halma plc (UK), acquired Meditech KFT (Hungary), a manufacturer of ambulatory blood pressure monitors based in Budapest, Hungary.

Figure 2: OEM Patient Monitoring and Vital Sign OEM Module Market, by Product Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

OEM Patient Monitoring and Vital Sign OEM Module Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America OEM patient monitoring and vital sign OEM module market accounted for the largest market share in 2021, owing to increasing cases of cardiovascular diseases, high adoption of patient monitoring devices, and well-established healthcare infrastructure. According to the Centers for Disease Control and Prevention (CDC), more than 750,000 hospitalizations occur each year because of atrial fibrillation in the US. Furthermore, according to the American Heart Association Research Report 2018, heart disease is the leading cause of death in the US, accounting for one in every seven deaths.

Further, the major countries studied are: The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: OEM PATIENT MONITORING AND VITAL SIGN OEM MODULE MARKET BY REGION 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe OEM patient monitoring and vital sign OEM module market accounts for the second-largest market share due to increase in funding and initiatives for research & development, an increase in adoption of advanced OEM technologies, the prevalence of neurological diseases, and an increase in the number of new product launch by market players are driving the growth of the market in the region. Furthermore, the Germany market of OEM patient monitoring and vital sign OEM module held the largest market share in 2021, and the UK market of OEM patient monitoring and vital sign OEM module is the fastest growing market in the Europe region.

The Asia-Pacific OEM patient monitoring and vital sign OEM module market is expected to grow at a significant share from 2024 to 2032 due to the factors such as presence of big OEM modules and component manufacturers, increasing medical tourism in the region. Moreover, China market of OEM patient monitoring and vital sign OEM module held the largest market share in 2021, and the India market of OEM patient monitoring and vital sign OEM module is the fastest growing market in the Asia-Pacific region.

OEM Patient Monitoring and Vital Sign OEM Module Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the market of OEM patient monitoring and vital sign OEM module grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the OEM patient monitoring and vital sign OEM module industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Sentec AG (Switzerland) is a Swiss medical equipment manufacturing company, which expertise in technologies and products for noninvasive patient monitoring. Sentec AG manufactures digital, integrated sensors, which provide noninvasive, continuous ventilation and oxygenation monitoring. Swisstom (Switzerland), a subsidiary of Sentec AG, offers products smaller in size that can fit into the small spaces of monitor anesthesia machine and ventilator. In December 2018, the company acquired Swisstom. This acquired enhanced Sentec's product and service offering.

Key Companies in the OEM Patient Monitoring and Vital Sign OEM Module Market Includes

• Sentec AG (Switzerland)


• Medtronic Plc (Ireland)


• Nonin Medical Inc. (US)


• Masimo Corporation (US)


• Ronseda Electronics Co., Ltd (China)


• Triton Electronic Systems Ltd (Russia)


• Halma Plc (UK)


• Zug Medical System SAS (France)


• Fresenius Kabi AG (Germany)


• Smiths Group plc (UK)


• Others

OEM Patient Monitoring and Vital Sign OEM Module Industry Developments

September 2021: Suntech Medical Inc. (US), a subsidiary of Halma plc (UK), acquired Meditech KFT (Hungary), a manufacturer of ambulatory blood pressure monitors based in Budapest, Hungary.January 2020: Suntech Medical Inc. (US) collaborated with Valencell Inc. (US), a leader in manufacturing biometric sensors for wearables, to provide better BP measurement devices.

OEM Patient Monitoring and Vital Sign OEM Module Market Segmentation

OEM Patient Monitoring and Vital Sign OEM Module Product Type Outlook

• Hemodynamic Monitoring Devices
  
  
  
  • Blood Glucose
  
  
  • Cholesterol
  
  
  • Blood Gas & Electrolyte Analyzers/Monitors
  
  
  • Blood Pressure
  
  
  
  


• Neuromonitoring Devices
  
  
  
  • Electroencephalograph (EEG) Devices
  
  
  • Magnetoencephalograph (MEG) Devices
  
  
  • Intracranial Pressure Monitors (ICP)
  
  
  • Transcranial Dopplers (TCD)
  
  
  • Cerebral Oximeters
  
  
  • Near-infrared spectroscopy (NIRS)
  
  
  
  


• Cardiac Monitoring Devices
  
  
  
  • Electrocardiogram (ECG) Devices
  
  
  • Implantable Loop Recorders (ILR)
  
  
  • Cardiac Output Monitoring (COM) Devices
  
  
  • Event Monitors
  
  
  
  


• Fetal & Neonatal Monitoring Devices
  
  
  
  • Ultrasound
  
  
  • Electronic Fetal Monitoring Devices
  
  
  • Fetal Doppler Monitoring Devices
  
  
  • Other Fetal & Neonatal Monitoring Devices
  
  
  
  


• Respiratory Monitoring Devices
  
  
  
  • Device Type
    
    
    
    • Capnographs
    
    
    • Anesthesia Monitors
    
    
    • Spirometers
    
    
    • Pulse Oximeters
    
    
    • Sleep Apnea Monitoring Devices
    
    
    
    
  
  
  • Disease Indication
    
    
    
    • COPD
    
    
    • Sleep Apnea
    
    
    • Asthma
    
    
    • Others
    
    
    
    
  
  
  • Remote Patient Monitoring Devices
  
  
  • Temperature Monitoring Devices
  
  
  • Others
  
  
  
  

OEM Patient Monitoring and Vital Sign OEM Module Regional Outlook

• 
  

  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • 
    

    Middle East

    
    
  
  
  • 
    

    Africa

    
    
  
  
  • 
    

    Latin America