PUBLISHER: The Insight Partners | PRODUCT CODE: 1494386
PUBLISHER: The Insight Partners | PRODUCT CODE: 1494386
The Europe vital signs monitoring devices market was valued at US$ 8,101.12 million in 2022 and is expected to reach US$ 22,285.46 million by 2030; it is estimated to grow at a CAGR of 13.5% from 2022 to 2030.
Integration of Real-Time Communication Feature Fuels the Europe Vital Signs Monitoring Devices Market
The adoption of remote access in healthcare, and advancements in audio and video technologies have bridged the gap between patients and accessing healthcare services. Thus, telemedicine has gained noticeable popularity and has paved the way for real-time communication (RTC). The integration of the RTC feature in vital sign monitoring devices is expected to allow patients to connect with healthcare providers efficiently according to their comfort to receive virtual consultations and essential medical services.
Companies are developing products that incorporate real-time technologies to allow efficient monitoring of patients' vital signs. In March 2023, Vigilant Medical Solutions, LLC announced the development of the Guardian mobile app and medical device solution that would alert in-hospital anesthesiologists on their smartphones when there is a real-time change in patients' vitals. Guardian is incorporated with artificial intelligence technology that provides vital updates on postoperative delirium, stroke, acute kidney injury, and death. Vigilant Medical Solutions, LLC claims that Guardian is designed to provide easy access to patients' vitals when doctors are busy treating several patients in different rooms or operating rooms. In October 2021, Honeywell launched a Realtime Health Monitoring System (RTHMS). RTHMS is a smart edge-to-cloud communication platform intended for the remote and real-time monitoring of patients. This mobile app for caregivers alerts them after any deviation in a patient's abnormal vitals. The company has also claimed that using RTHMS would reduce hospital administrative tasks by 35%. Adopting and installing such innovative technologies in healthcare facilities worldwide would benefit the healthcare sector and enhance patient health quality.
Thus, the integration of real-time communication features is likely to propel the Europe vital signs monitoring devices market in the coming years.
Europe Vital Signs Monitoring Devices Market Overview
The vital signs monitoring devices market in Europe is further segmented into Germany, the UK, France, Spain, Italy, and the Rest of Europe. The market growth in the region is determined by factors such as the rising incidences of chronic diseases, increasing number of product launches, growing investments for product developments, and a surge in the aging population.
According to the Census 2021 data published by the Office for National Statistics in April 2023, the population aged 65 and above rose to 11 million in 2021 from 9.2 million in 2011. The geriatric population is increasing with the upsurge in life expectancy and advancements in healthcare, which enhances the quality of life. Thus, demand for advanced vital signs monitoring devices in the UK is increasing with the growing aging population.
Furthermore, as per data published by the European Observatory on Health Systems and Policies in 2020, 1 out of 6 persons in Germany is obese, and nearly 15% of the total population is living with diabetes. Therefore, there is a vast demand for glucose monitors in the country. Moreover, 1-2 persons above age 15 in Germany report a chronic condition. Also, Healthcare services related to diabetes are also reimbursed in France. France has well-established companies involved in research and development, providing innovative medical device technologies. In October 2020, Zoook, a French company, developed and launched as a contactless medical-grade thermometer to maintain the norms of the COVID-19 pandemic. Such innovations contribute significantly to the vital signs monitoring devices market growth in the country.
Europe Vital Signs Monitoring Devices Market Revenue and Forecast to 2030 (US$ Million)
Europe Vital Signs Monitoring Devices Market Segmentation
The Europe vital signs monitoring devices market is segmented based on product, end user, and country.
Based on product, the Europe vital signs monitoring devices market is segmented into pulse oximeters, blood pressure monitors, temperature monitoring devices, and glucose monitors devices. The glucose monitors devices segment held the largest share in 2022. The glucose monitoring devices segment is further bifurcated into self glucose monitors and continuous glucose monitors. Additionally, the pulse oximeters segment is subsegmented into handheld pulse oximeters, table-top pulse oximeters, and pulse oximeter accessories. The temperature monitoring devices segment into digital thermometers, infrared thermometers, mercury filled thermometers, and liquid crystal thermometers. Further, by blood pressure monitoring devices, the market is categorized into digital blood pressure monitors, analog blood pressure monitors, ambulatory blood pressure monitors, mercury blood pressure monitors, and blood pressure instrument accessories.
By end user, the Europe vital signs monitoring devices market is segmented into hospitals & clinics, ambulatory care centers, home healthcare, and other. The hospitals & clinics segment held the largest share in 2022.
Based on country, the Europe vital signs monitoring devices market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany dominated the Europe vital signs monitoring devices market in 2022.
Koninklijke Philip NV, Medtronic Plc, Nihon Kohden, GE HealthCare Technologies Inc, OMRON corp, Masimo Corp, Nonin Medical Inc, Contec Medical Systems Co Ltd, and Baxter Intonational Inc are some of the leading companies operating in the Europe vital signs monitoring devices market.