Revolutionizing Healthcare: The Growth of Vital Signs Monitoring Devices
The global vital signs monitoring devices market was valued at USD 9.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2030. This market is experiencing significant growth, driven by multiple factors such as constant product innovations, the increasing demand for home healthcare services, the rising number of healthcare settings (primarily hospitals), and the growing prevalence of chronic disorders. The demand for vital signs monitoring devices, such as blood pressure monitors, pulse oximeters, and temperature monitoring devices, witnessed a sharp increase following the onset of the COVID-19 pandemic in 2020. As the pandemic spread, monitoring vital health parameters became crucial in identifying the presence of the virus and managing its impact on patients, particularly those with underlying health conditions. Key Drivers of Market G...