The global vital signs monitoring devices market is expected to value USD 5491 million by 2022 from USD 3908 million in 2016, growing at a CAGR of 5.8 percent, projects Orbis Research. The growth is attributed to increase in importance of vital signs monitoring devices in homecare settings and improved reimbursement scenario for pulse oximeters in developed countries.
Upsurge in geriatric population and rise in incidence rate of cardiovascular disorders, chronic obstructive pulmonary disease (COPD), sleep apnea, and infectious diseases are also expected to fuel the demand for these devices. Moreover, increase in use of vital signs monitoring devices for fitness monitoring and rise in ambulatory surgery centers that use vital signs monitoring devices routinely have fueled the market growth.
The market growth may be hampered by lack of awareness about these devices in the low- and middle-income countries.