Future Market Insights (FMI) has announced the release of its market report, “Vital Signs Monitoring Devices Market: Global Industry Analysis and Opportunity Assessment 2015-2025,” which covers trends driving growth in each segment of the vital signs monitoring devices market in specific regions. According to FMI, North America is expected to dominate this market, accounting for around 35% share of the overall market by the end of 2015.
The global vital signs monitoring devices market is projected to expand at a compound annual growth rate (CAGR) of 9.5% and 9.2% in terms of value and volume, respectively, during the forecast period, due to factors FMI details in its report. The US is anticipated to remain dominant in the monitoring devices market until the end of 2025. North America and western Europe together account for more than half of the current total market. Among all the regions, Asia Pacific (excluding Japan), the Middle East and Africa, and Latin America are anticipated to expand at the highest rates from 2015 to 2025.
The growth of the global vital signs monitoring devices market is being driven mainly by the increased use of these devices in home care settings, the sports industry, and ambulatory surgical centers. According to FMI, the market is fragmented and includes a large number of low-quality products, which could limit market growth. Advanced vital signs monitoring devices are also being adopted into the market at a slower rate, especially in developing regions.
The report divides the market into four segments: monitors, temperature measurement devices, blood pressure measurement devices, and standalone pulse oximeters. Key players in the global vital signs monitoring devices market, according to FMI, include Philips NV, General Electric Co, Mindray Medical, Covidien, Welch Allyn Inc, and Spacelabs Healthcare, among others. For further details, read the report on the FMI website.
Image credit: Future Market Insights (FMI)