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Vital Signs Monitoring Devices Market Analysis
- Report ID: GMI5453
- Published Date: Mar 2023
- Report Format: PDF
Vital Signs Monitoring Devices Market Analysis
Based on product, the vital signs monitoring devices market size from pulse oximeters is expected to record 8% CAGR from 2023-2032 due to the growing need for quick and easy as well as portable non-invasive devices. Pulse oximeters are medical devices that are used for the early detection of declining oxygen levels as they help measure the SpO2 (oxygen saturation level) in a person's blood. The rising importance of anesthesia safety across the U.S. and the growing number of technological innovations are accelerating the widespread use of pulse oximetry worldwide, subsequently anchoring the industry development.
In terms of revenue, the vital signs monitoring devices market from ambulatory surgical centers reached more than USD 1.5 billion in 2022 ascribing to the strong presence of advanced facilities. These healthcare settings are increasingly favoured by patients to undergo various interventional surgeries. Additionally, ambulatory surgical centers (ASCs) offer single day treatment, adding to increased patient preference. The thriving need for lower cost of care, reduced stress, predictable scheduling and safety will also influence the adoption of vital signs monitoring devices in ASCs.
North America vital signs monitoring devices market valuation is poised to surpass USD 4 billion by 2032 due to the rapid adoption rate of pulse oximeters. The rising awareness regarding the benefits of early diagnosis driven by the growing burden of several diseases has led to the emergence of a large number of supportive government initiatives. According to CDC (Centers for Disease Control and Prevention), early disease detection played a prominent role in bringing down the COVID-19 cases and hospitalisation rate in the U.S. The rising expenditure on healthcare is another factor driving the regional industry outlook.
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Vital Signs Monitoring Devices Market Scope
