Wearable Vital Signs Measurement Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
- Healthcare IT
Vital signs monitoring devices monitor vital parameters such as blood pressure, heart rate, respiratory rate, oxygen saturation, blood glucose level, and body temperature. Apart from this, monitoring of various other additional signs such as urinary continence, pain, gait speed, shortness of breath, end-tidal carbon-dioxide, etc. are also considered in vital signs measurement depending on the severity of the disease. These devices record information of the patient’s health status time to time and helps to keep track of disease control and treatment progress. They also help minimize the risk of treatment errors and wrong diagnosis. With evolution of technology, wearable vital sign measurement devices are now available in different modalities, attractive designs, and innovative features such as increased battery life, monitoring of more than one parameter by using a single device.
Increasing healthcare awareness, rising healthcare expenditure, and technological advancements are some of the factors fueling growth of the wearable vital sign measurements market. Moreover, innovative solutions offered by leading vendors in the global wearable vital signs measurement devices market to increase the wearing comfort at affordable prices is boosting the growth of the wearable vital sign measurement devices market. However, development of the system with minimal size, and maximum battery life are the factors delaying entry of new products into the market. Moreover, high cost of the products is restraining the growth of the market in developing countries.
The global wearable vital signs measurement devices market can be segmented based on product type and distribution channels. On the basis of product type, the wearable vital sign measurement device market can be categorized into blood pressure monitoring devices, ECG recorder, ECG holter, pulse oximeter, sleep monitor for Obstructive Sleep Apnea (OSA), thermometer, BP tracker, respiration rate measuring devices, respiration effectiveness monitoring devices, body-worn smart clothing, and continuous blood glucose level monitoring devices. Among these, blood pressure monitoring devices, thermometers, and continuous blood glucose monitoring devices are gaining highest market share owing to increasing prevalence of hypertension and diabetes due to changing lifestyles. In terms of distribution channels, the market can be classified into retail sellers and e-commerce.
Geographically, the global wearable vital signs measurement devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, North America continues to be the most profitable for vendors operating in the global wearable vital sign measurement devices market owing to significant adoption of technologically advanced products, presence of large number of manufacturers located in the U.S., and high healthcare spending in this region. Europe is the second largest market for wearable vital sign measurement devices owing to increasing geriatric population, growing awareness about physiological fitness among the people in this region leading to rising demand for health monitoring devices, and high per capita spending capacity. Asia Pacific and Latin America are expected to be most lucrative markets for wearable vital sign measurement devices attributed to growing economies, growing population, increasing incidence of lifestyle diseases such as high blood pressure, diabetes, and obesity caused by changing life styles.
The key players operating in the global wearable vital signs measurement devices market include CareTaker LLC., Vital Connect, TDK Corporation, Alere, Nokia, Viatom Technology, GYMWATCH GmbH, Medtronic, Vivometrics Inc, Masimo, and custo med GmbH.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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