Friday Jun 02, 2023

Global Vital Signs Monitoring Equipment Market Garnered About USD 8 Billion in 2021 – GlobeNewswire


New York, June 27, 2022 (GLOBE NEWSWIRE) — Digital wearable health devices (WHD), whose use grew significantly from about 35% in the year 2019 to close to 48% in the year 2020, was introduced into the medical world to aid people to make their life easier. Further, with the growing awareness to monitor the health amongst the individuals, the demand for WHDs grew massively over the years. About 85% of the women worldwide preferred to use these digital machines to track their fertility, while near to 70% of women used these devices to track their menstrual cycle. Moreover, the majority of people who monitored their health digitally were under 55 years old and had severe conditions.

Kenneth Research has recently released a report named “Global Vital Signs Monitoring Equipment Market”, which gives a quick rundown of market aspects such as growth drivers, restraint factors, recent market trends, and future growth potential. The market research report which covers the forecast period, i.e., 2022 – 2030, includes a comprehensive analysis of the impact of COVID-19 and its impact on end-users as well. Aside from that, the research study looks at the product portfolios and market growth strategies of the major market rivals.

According to the statistics by the World Health Organization (WHO), 41 million people globally died each year due to noncommunicable diseases (NCDs) which was equivalent to 71% of all deaths. Further, the statistics also stated that cardiovascular diseases accounted for 17.9 million deaths among people annually, registering to be the major cause of NCD deaths. It was followed by cancer with 9.3 million, respiratory diseases with 4.1 million, and diabetes with 1.5 million deaths. The surge in concern for the rising number of deaths caused due to NCDs, is raising the need amongst individuals to monitor their health for the early diagnosis of the diseases. By the use of vital signs monitoring devices, any individual can observe their health and also share the data with their healthcare providers, which is one of the major factors anticipated to create numerous opportunities for the growth of the global vital signs monitoring equipment market. Besides this, the surge in the number of surgical procedures in hospitals or ambulatory surgical centers is also projected to drive the growth of the market during the forecast period. According to the statistics by Eurostat, in the year 2018, about 1.16 million cesarean sections were performed in the 27 nations of the European Union.

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The global vital signs monitoring equipment market garnered USD 8 billion in 2021 and is further estimated to grow with a CAGR of ~9% over the forecast period. Major factors attributing to the growth of the market are rising awareness of the need of tracking vital signs at home over the surge in prevalence of chronic and infectious diseases. Market growth can be further elevated by the growing demand for personalized health care, the rising geriatric population, and the rising number of healthcare facilities. According to the statistical report titled “World Population Ageing 2019”, published by the Department of Economic and Social Affairs of the United Nations, the number of persons aged 65 and above registered in the year 2019 worldwide was 702.9 million. This is further expected to touch 1548.9 million by the end of 2050. On the other hand, the urge for vital signs monitoring equipment such as blood pressure monitors, pulse oximeters, and temperature monitoring devices boosted owing to the covid-19 pandemic is also poised to be a major contributor to the demand for vital signs monitoring devices in the coming years. COVID …….


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