Vital Signs Monitoring Market Size was valued at USD 4.45 billion in 2023. The Vital Signs Monitoring market industry is projected to grow from USD 4.93 Billion in 2024 to USD 7.44 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.27% during the forecast period (2024 – 2032). The senior population and rising prevalence of chronic diseasesare the major market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In April 2022, Anelto Inc., a leading provider of remote patient monitoring services (RPMs), partnered with BioIntelliSense, Inc. – a company that offers continuous health monitoring and clinical intelligence to integrate BioIntelliSense’s FDA-cleared BioSticker as well as BioButton wearable medical devices and data services with Anelto’s RemoteCareLive! RPM platform.
Also, in March 2022, Isansys Lifecare, a digital health company, teamed up with Alder Hey Children's NHS Foundation Trust to improve home-based monitoring of patients and reduce the burden on healthcare systems.
Moreover, Aktiia planned to launch an automated blood pressure monitor running 24/7 into the U.S market in January 2022. The new device records more than 100 blood pressure readings compared to other monitors while ensuring ten times more participation. This implies that the introduction of highly technical BP monitors will boost the efficiency of BP measurement, which is expected to enhance further growth in the market within this country.
For example, Essence SmartCare launched VitalOn last May 2021, which is a holistic remote patient monitoring (RPM) platform for active elderly people and aged adults suffering from chronic illnesses. It is continuously “on” providing ongoing care management and chronic disease management for various healthcare needs at home or on-the-go. It keeps collecting data from diverse healthcare gadgets and sensors thus facilitating proactive as well as predictive care that enables prevention.
In February 2021, Philips indicated its intention to buy BioTelemetry, Inc. The acquisition would help Philips expand its patient monitoring portfolio through adding cardiac diagnostic & monitoring products from BioTelemetry.
Lastly, Mindray released their new VS 9 and VS 8 Vital Signs Monitors in Europe and Australia, among other selected markets, in January 2021 alone (Mindray.com). Some other major players are concentrating on partnerships and acquisitions that enable them introduce new products in various markets.
Vital Signs Monitoring Market Trends
The growing occurrence of chronic diseases such as cardiovascular, disease diabetes, or non-communicable diseases (NCDs) will strongly boost the growth of the vital signs monitoring market. Increasing habits of sedentary lifestyles, including binge eating and sedentary lifestyles, have led to an increased prevalence of hypertension, diabetes, dyslipidemia, obesity, and several other chronic diseases. According to the Health Observatory, 70.0% of deaths in 2015 were due to non-communicable diseases (NCDs). Moreover, increasing public awareness of chronic diseases will boost the market's growth. Demand for accurate and personalized vital sign monitoring devices is expected to grow favorably in recent years as the aging population becomes more conscious.
In the neonatal intensive care unit (NICU), respiratory rate, heart rate, and oxygen levels are common vital signs for newborns. Recent statistics show that continuous vital sign analysis can predict sepsis, necrotizing enterocolitis, brain injury, bronchopulmonary dysplasia, mortality, and cardiopulmonary decompensation. Accurate and continuous monitoring of vital signs enables preventive interventions and increased vigilance, improving neonatal outcomes. The fusion of big data analytics and frequent technological advances could be an efficient tool for eradicating neonatal diseases in the 21st century. This is the latest trend in the vital sign monitoring market revenue.
Figure 1: Obesity and the risk of developing chronic diseases in middle-aged and older adults
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In addition, the new product launch is expected to impact the vital signs monitoring device industry significantly. For instance, in June 2020, health and wellness company Neptune Wellness Solutions Inc. announced the launch of Correct Neptune Halo, an electronic pulse oximeter. Such factors enable the significant growth in the vital signs monitoring market CAGR.
Based on Product, the Vital Signs Monitoring market segmentation includes BP monitoring, pulse oximeter, and others. The BP monitoring segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. This is due to increased blood pressure monitoring as the prevalence of hypertension is rapidly increasing. Moreover, with increasing awareness, patients pay attention to blood pressure as a precautionary measure or precaution. This has further increased the demand for self-service digital blood pressure monitors. The pulse oximeter segment will also gain a significant share in 2022. Hence, rising product options for Vital Signs Monitoring positively impact the market growth.
March 2022: Alder Hey Children's NHS Foundation Trust and digital health company Isansys Lifecare joined forces to enhance at-home patient monitoring and lessen the burden on the healthcare system.
Based on type, the Vital Signs Monitoring market data includes non-integrated systems, integrated systems & others. The integrated system & others vital signs monitoring segments held the majority share in 2021 with respect to the Vital Signs Monitoring market revenue. These devices are connected via software to a comprehensive platform, allowing hospital staff to monitor patient vital signs from a single dashboard easily. Hospitals require all categories of vital sign monitors. Also, every hospital room, nurses station, operating room, emergency room, ambulance, and outpatient service requires vital sign monitors, thus creating a high need for these devices.
Based on portability, the Vital Signs Monitoring market segmentation includes standalone and portable. The portable Vital Signs Monitoring segment held the majority share in 2022 with respect to the Vital Signs Monitoring market revenue. Portable is in greater demand than standalone because they provide higher accessibility, which offers more patient compliance, such as fingertip pulse oximeters devices being portable and wireless.
Figure 2: Vital Signs Monitoring Market, by Portability, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study offers market insights into Asia-Pacific, Europe, North America, and Rest of the World. The North America Vital Signs Monitoring market accounted for USD 1.92 billion in 2022 and anticipated to exhibit a substantial CAGR growth during the study period. A growing geriatric population, increasing prevalence of chronic diseases, and increasing interest in remote and wireless devices combined with optimized coverage policies are important considerations resulting from this proportion. The region also has high awareness and access to medical services with strong reimbursement coverage for critical medical equipment, resulting in high demand. Further, the United States Vital Signs Monitoring market held the largest market share, and the Canada Vital Signs Monitoring market was the fastest-growing market in the North American region.
Further, the key countries studied in the market report are the U.S, Canada, UK, Italy, Germany, France, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: VITAL SIGNS MONITORING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Vital Signs Monitoring market accounts for the second-largest market share because of the higher death rate and rising demand for cost-efficient treatment. The availability of vital signs monitoring shall drive the market during the forecast. Major players in Europe are more focused on adopting advanced Vital Signs Monitorings to enhance operational efficiency, which also plays a crucial role in market growth. Further, the Germany Vital Signs Monitoring market held the largest market share, and the United Kingdom Vital Signs Monitoring market was the fastest growing market in the European region
The Asia-Pacific Vital Signs Monitoring Market is anticipated to develop at the fastest CAGR from 2022 to 2030. This is because in emerging markets such as India and China, the region has significant unmet needs, including essential healthcare. Additionally, increasing medical tourism and improving the healthcare sector in the region will offer much to market participants during the forecast period. Further, the China Vital Signs Monitoring market held the largest market share, and the India Vital Signs Monitoring market was the fastest growing market in the region
Vital Signs Monitoring Key Market Players & Competitive Insights
Key market players are spending a large portion of money on research & development to increase their product lines, which will help the Vital Signs Monitoring market grow even more. Market players are also taking several strategic initiatives to increase their worldwide footprint, with key market developments such as mergers and acquisitions, contractual agreements, increased investments, new product launches, and collaboration with other organizations. Competitors in the Vital Signs Monitoring industry must expand their business footprint to survive in an increasingly competitive and rising market environment.
One of the manufacturers primary business strategies in the Vital Signs Monitoring industry is to help clients and increase the market sector by increasing investment in R&D to enhance solutions and services. In recent years, the Vital Signs Monitoring industry has provided transparency and reduced disruptions in the supply chain. The Vital Signs Monitoring major market players such as Medtronic, Koninklijke Philips N.V, GENERAL ELECTRIC COMPANY, Boston Scientific Corporation, Natus Medical Incorporated, Siemens Healthcare Private Limited, Spacelabs Healthcare, Masimo, Mindray DS USA, and others are working on expanding the market demand by investing in research and development activities.
Mindray Medical International Limited is a Chinese multinational medical device manufacturer. Mindray manufactures and develops accessories and medical devices for human and veterinary use. The company consists of three main business areas: patient monitoring and life support, in-vitro diagnostic products, and medical imaging systems. In 2008, Mindray was recognized as China's largest medical device manufacturer. In January 2021, Mindray launched the new VS 9 and VS 8 vital signs monitors. These are currently available in Europe, Australia, and other selected regions.
Koninklijke Philips N.V., commonly known as Philips, is a Dutch multinational conglomerate corporation. It improves people’s health and well-being through meaningful innovation and gives clinicians the tools they need to make a precision diagnosis and deliver personalized treatment. In February 2021, Philips announced plans to acquire BioTelemetry, Inc. The acquisition is intended to help Philips expand its patient monitoring portfolio with BioTelemetry's cardiac diagnostic and monitoring devices.
Key Companies in the Vital Signs Monitoring market include
Vital Signs Monitoring Industry Developments
April 2022: To integrate BioIntelliSense's FDA-cleared BioSticker and BioButton wearable medical devices and data services with Anelto's RemoteCareLive! RPM platform, BioIntelliSense and Anelto entered into a partnership. BioIntelliSense is a continuous health monitoring and clinical intelligence company.
April 2020: Pune-based CSIR-National Chemical Laboratory has developed and designed a digital infrared thermometer for coronavirus-infected patients. NCL is affiliated with Bharat Electronics Ltd. They worked together to create a thermometer to help reduce the corona outbreak.
BP Monitoring
Other
Non-Integrated System
Integrated System
Others
Standalone
Portable
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 4.45 billion |
| Market Size 2024 | USD 4.93 billion |
| Market Size 2032 | USD 7.44 billion |
| Compound Annual Growth Rate (CAGR) | 5.27% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019–2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Portability, Products, Type, Application, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Medtronic, Koninklijke Philips N.V, GENERAL ELECTRIC COMPANY, Boston Scientific Corporation, Natus Medical Incorporated, Siemens Healthcare Private Limited, Spacelabs Healthcare, Masimo, and Mindray DS USA |
| Key Market Opportunities | Launch of Novel Vital Sign Monitoring Products to fuel Market Growth |
| Key Market Dynamics | Increasing Prevalence of Lifestyle-Associated Chronic Disorders Continuous Vital Sign Analysis for Predicting and Preventing Neonatal Disorders to Drive Growth |
Vital Signs Monitoring Market Highlights:
Frequently Asked Questions (FAQ) :
The Vital Signs Monitoring market size was valued at USD 7.44 billion in 2032.
The market is projected to grow at a CAGR of 5.27% during the forecast period, 2024-2032.
North America had the leading share of the market
The major players in the market are Medtronic, Koninklijke Philips N.V, GENERAL ELECTRIC COMPANY, Boston Scientific Corporation, Natus Medical Incorporated, Siemens Healthcare Private Limited, Spacelabs Healthcare, Masimo, Mindray DS USA, and others.
The BP monitoring Vital Signs Monitoring category dominated the market in 2023.
The Integrated System & Others had the largest share in the market.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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