Vital Signs Monitoring Market: Forecasts up to 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-21 04:40:01
The global vital signs monitoring market is suggested to have reached a value of around $3.14 billion by the end of 2012, and is forecast to grow to a total of $4.37 billion by 2018. This suggests a CAGR growth rate of 6.61% between 2013 and 2018.
North America is the largest region in the industry, followed by Europe, due to the presence of high-end technology providers and better R&D facilities. However, the Asian market witnesses the highest growth rate owing to the rising demand for these devices for home health monitoring. The new markets that are expected to grow at a brisk pace are emerging economics such as China, India, Japan and other regions of Asia-Pacific, and untapped markets in European regions.
The global vital signs monitoring devices market includes emergency support and care services and devices, which can be used not only at clinics, but also at a patient´s home. The most significant healthcare trend witnessed recently is the shift of treatment from hospitals to home in order to gain a cost advantage and reduce hospital expenditure. The move from treatment to proactive monitoring is also opening up new opportunities for home monitoring devices. Patients prefer home monitoring equipment over hospitals mainly for the convenience and cost-effectiveness it offers.
This market is witnessing tremendous growth due to a rise in the aging population, not only in the developed regions of the world, but also in developing countries. Awareness of the convenience and cost effectiveness offered by these equipment and services is also increasing the demand for this market. Asia displays a high CAGR owing to the rapidly increasing aging population in countries such as India, China, and Japan. The Americas also maintains a stable growth mainly due to reimbursements offered for specific equipment and the health policies of Medicaid and Medicare.
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