At 10.0% CAGR, the South & Central America Vital Signs Monitoring Devices Market Is Projected to be Worth US$ 2,865.15 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the South & Central America vital signs monitoring devices market was valued at US$ 1,337.18 million in 2022 and is expected to reach US$ 2,865.15 million by 2030, registering a CAGR of 10.0% from 2022 to 2030. Integration of real-time communication feature are among the critical factors attributed to the South & Central America vital signs monitoring devices market expansion.

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 South & Central America vital signs monitoring devices market in the coming years.

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

Based on product, the South & Central 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 63.0% share of the South & Central America vital signs monitoring devices market in 2022, amassing US$ 841.99 million. It is projected to garner US$ 1,621.48 million by 2030 to expand at 8.5% CAGR during 2022-2030. 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 South & Central America vital signs monitoring devices market is segmented into hospitals & clinics, ambulatory care centers, home healthcare, and other. The hospitals & clinics segment held 49.1% share of South & Central America vital signs monitoring devices market in 2022, amassing US$ 656.95 million. It is projected to garner US$ 1,421.32 million by 2030 to expand at 10.1% CAGR during 2022-2030.

Based on country, the South & Central America vital signs monitoring devices market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 68.4% share of South & Central America vital signs monitoring devices market in 2022, amassing US$ 915.28 million. It is projected to garner US$ 1,989.20 million by 2030 to expand at 10.2% CAGR during 2022-2030.

Key players operating in the South & Central America vital signs monitoring devices market are Koninklijke Philip NV, Medtronic Plc, Nihon Kohden, GE HealthCare Technologies Inc, OMRON corp, Masimo Corp, and Baxter Intonational Inc, are among others.

• In Jun 2022, GE Healthcare introduced Portrait Mobile, a wireless patient monitoring system that enables continuous monitoring throughout a patient's 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"). AMP3D's 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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