At 12.7% CAGR, the North America Vital Signs Monitoring Devices Market Is Projected to be Worth US$ 27,252.11 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the North America vital signs monitoring devices market was valued at US$ 10,450.51 million in 2022 and is expected to reach US$ 27,252.11 million by 2030, registering a CAGR of 12.7% from 2022 to 2030. Increasing number of product launches and approvals and rise in need for remote patient monitoring are among the critical factors attributed to the North America vital signs monitoring devices market expansion.

Companies in the North America vital signs monitoring devices market are designing, developing, and upgrading their existing products by harnessing ongoing advancements in medical technology. Frequent product launches significantly contribute to market growth by encouraging players to compete with each other by developing innovative products and obtaining regulatory approvals for their products. A few of the recent product launches and approvals that have significantly contributed to the market growth are mentioned below.

- In June 2023, Masimo received US Food and Drug Administration (FDA) approval for its Radius VSM, a continuous, multi-parameter vital signs monitor. The device was developed to allow physicians to measure physiological parameters such as blood pressure, temperature, respiration rate, ECG, and oxygen. The Masimo SET pulse oximeter integrated into Radius VSM allows it to keep a check on the oxygen levels of patients. In addition, Masio Radius VSM is a self-operated device, or it can also be used by connecting it wirelessly to Masimo bedside monitors that include Root and the Masimo Hospital Automation platform.

- In April 2023, Honeywell introduced a real-time health monitoring system that captures patients vital signs in hospitals and remote setups. The sensing technology incorporated in the system monitors vital signs through a skin patch and instantaneously notifies healthcare providers on their mobile devices and an online dashboard. Through this innovation, the company can aid improvements in patient care at home, hospitals, and ambulatory surgical centers.

- In June 2022, GE Healthcare announced the launch of Portrait Mobile, a product developed by combining wireless patient-worn sensors and a smartphone-style monitor. People wearing this monitoring device can move freely without any location restrictions. In August 2023, GE Healthcare received FDA approval for the Portrait Mobile and 510(k) approval for its Carescape Canvas patient monitoring platform.

- In April 2021, Oxehealth Service won FDA approval for its vital sign software, which can monitor heart rate and breathing with an overhead camera attached to the device. The product is suitable for end users in nursing homes and long-term care facilities.

- In January 2020, BioIntelliSense, Inc. announced the commercial launch of its Data-as-a-Service (DaaS) platform. It also announced receiving FDA 510(k) clearance for its BioSticker, an on-body sensor for remote care devices. Further, in July 2020, BioIntelliSense, Inc. collaborated with Royal Philips to integrate BioSticker into Philipss remote patient monitoring devices.

On the contrary, product recalls by companies and regulatory authorities hampers the growth North America vital signs monitoring devices market.

Based on product, the North America vital signs monitoring devices market is segmented into pulse oximeters, blood pressure monitors, temperature monitoring devices, and glucose monitoring devices. The glucose monitoring devices segment held 65.1% share of the North America vital signs monitoring devices market in 2022, amassing US$ 6,807.43 million. It is projected to garner US$ 15,881.12 million by 2030 to expand at 11.2% CAGR during 2022-2030.

By end-use industry, the North America vital signs monitoring devices market is segmented into hospitals & clinics, ambulatory care centers, home healthcare, and other. The hospitals & clinics segment held 49.6% share of North America vital signs monitoring devices market in 2022, amassing US$ 5,180.65 million. It is projected to garner US$ 13,639.92 million by 2030 to expand at 12.9% CAGR during 2022-2030.

Based on country, the North America vital signs monitoring devices market is categorized into US, Canada, and Mexico. The US held 83.1% share of North America vital signs monitoring devices market in 2022, amassing US$ 8,686.22 million. It is projected to garner US$ 22,865.21 million by 2030 to expand at 12.9% CAGR during 2022-2030.

Key players operating in the North America vital signs monitoring devices market are Koninklijke Philips N.V., Medtronic Plc, Nihon Kohden, GE HealthCare Technologies Inc, OMRON corp, Masimo Corp, Nonin Medical Inc, Suntech Medical Inc, and Baxter Intonational Inc, among others.

- In Jun 2022, GE Healthcare introduced Portrait Mobile, a wireless patient monitoring system that enables continuous monitoring throughout a patients stay. The system helps clinicians detect patient deterioration. Early detection of patient deterioration can help reduce length of stay and ICU admissions improving patient outcomes.

- In Aug 2021, Nihon Kohden acquired Advanced Medical Predictive Devices, Diagnostics and Displays, Inc. ("AMP3D"). AMP3Ds CoMET (Continuous Monitoring of Event Trajectories) decision support software uses patients continuous monitoring data, medical records, vital signs, and laboratory tests to display the patients real-time and continuous risk trajectories. Integrating this technology will allow clinicians to monitor potentially catastrophic events and decrease mortality and lengths of stay before they even occur, resulting in better patient outcomes.

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