OEM Patient Monitoring and Vital Sign OEM Module Market Size Worth USD 22.44 Billion by 2030 at 7.98% CAGR

Jan 27, 2024

OEM Patient Monitoring and Vital Sign OEM Module Market Trends And Insights by Product Type (Hemodynamic Monitoring Devices, Neuromonitoring Devices, Cardiac Monitoring Devices, Fetal & Neonatal Monitoring Devices, Respiratory Monitoring Devices [Device Type and Disease Indication], Remote Patient Monitoring Devices, Temperature Monitoring Devices and Others), and By Region (North America, Europe, Asia-Pacific, and Rest of the World), Competitive Market Growth, Size, Share and Forecast to 2030

New York, USA, May 16, 2023 (GLOBE NEWSWIRE) -- OEM Patient Monitoring and Vital Sign OEM Module Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR),"OEM Patient Monitoring and Vital Sign OEM Module Market Information by Product Type, Region - Forecast till 2030", the market size was valued at USD 10.23 billion in 2021 and is projected to grow from USD 11.02 billion in 2022 to USD 22.44 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 7.98% during the forecast period (2022 - 2030)

Market Scope:

OEM Modules are a type of chip-like gadget used to track patients' vital signs. These gadgets have pumps and safety circuits that aid in precise measurements. Both in medical facilities and at home, these modules can be quite useful. OEM modules lack redundancy as compared to other medical equipment. These gadgets are becoming more popular today since they primarily support non-invasive monitoring techniques.

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Report Scope:

Report Attribute

Details

Market Size in 2030

USD 22.44 Billion

CAGR

7.98%

Base Year

2021

Forecast Period

2022-2030

Historical Data

2020

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product Type

Geographies Covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Key Market Drivers

Growing demand for wearable devices boosts market growth

Rising demand for the latest technology to be used in patient monitoring devices

OEM Patient Monitoring and Vital Sign OEM Module Market Competitive Outlooks:

The market for OEM patient monitoring and vital sign OEM module will expand even more as major industry players invest a lot of money in R&D to expand their product lines. Moreover, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and collaborating with other organizations in order to expand their global presence. In order to grow and thrive in a market that is becoming more competitive and growing, competitors in the OEM patient monitoring and vital sign OEM module business must provide products that are affordable.

Key Companies in the OEM Patient Monitoring and Vital Sign OEM Module Market include:

Sentec AG (Switzerland)

Medtronic Plc (Ireland)

Nonin Medical Inc. (US)

Masimo Corporation (US)

Ronseda Electronics Co., Ltd (China)

Triton Electronic Systems Ltd (Russia)

Halma Plc (UK)

Zug Medical System SAS (France)

Fresenius Kabi AG (Germany)

Smiths Group plc (UK)

Others

OEM Patient Monitoring and Vital Sign OEM Module Market Trends:

Market Drivers

The market is expanding as a result of factors such as the rising demand for wearable technology and continuous patient monitoring devices, both of which have been examined and are having a favorable influence on market growth. Continuous temperature, glucose, pulse oximetry, biosensor, and blood pressure monitoring all depend on the expanding need for wearable patient monitoring equipment. These are a few characteristics of wearable patient monitoring technology. Due to the numerous uses, the Internet of Things also links these capabilities to wearable patient monitoring devices. In addition, the IoT's quick development makes it simple to keep track of patient data.

Additionally, future market growth is anticipated to be accelerated by technical developments in patient monitoring equipment. The OEM businesses have begun investing significantly in their R&D efforts to produce cutting-edge modules and components of patient monitoring and vital sign monitoring systems in response to the growing demand for the most recent technology to be employed in patient monitoring devices.

Market Restraints

However, the high costs levied and the initial stages of the pandemic impeded the market over the review period.

COVID-19 Analysis:

Due to lockdowns, travel restrictions, and company closures, the COVID-19 has had an impact on the businesses and industries of several nations. Nonetheless, the government- and healthcare-instituted social distance standards have encouraged the uptake of telehealth and telemedicine technology, having a favorable effect on the industry. Depending on the market category, the pandemic's effect on the global market for patient equipment monitoring has varied. Due to the COVID-19 pandemic, the overall market value of many important market categories, including as multi-parameter vital sign monitoring, wireless ambulatory telemetry monitoring, pulse oximetry monitoring, and blood pressure monitoring, increased favorably.

Despite broad global decreases in most procedure volumes, monitoring of critical patient vitals became more crucial as the epidemic advanced. Particularly in areas with traditionally low saturation rates, this significantly raised the need for different monitoring equipment. Due to the pandemic, the FDA also helped to increase the accessibility and functionality of patient monitoring devices. The FDA further stated that modified patient monitoring device use may increase access to crucial patient physiological data and facilitate patient management by healthcare providers, thereby reducing the need for in-office or in-hospital services.

Browse In-depth Market Research Report (128 Pages) on OEM Patient Monitoring and Vital Sign OEM Module: https://www.marketresearchfuture.com/reports/oem-patient-monitoring-vital-sign-oem-module-market-11471

OEM Patient Monitoring and Vital Sign OEM Module Market Segmentation:

By product type

In 2021, the sector for hemodynamic monitoring devices held the biggest market share. The instruments that assess the pressure, flow, and oxygenation of blood inside the circulatory system are known as hemodynamic monitoring instruments. The devices used for hemodynamic monitoring employ OEM hemodynamic monitoring device modules. Also, these tools make it simpler to control type 1 or type 2 diabetes.

OEM Patient Monitoring and Vital Sign OEM Module Market Regional Analysis:

The Americas OEM vital signs and patient monitoring Due to rising rates of cardiovascular disorders, widespread use of patient monitoring devices, and a well-established healthcare infrastructure, the OEM module market held the biggest market share in 2021. The primary factors contributing to its share include the expanding older population, increased incidences of lifelong ailments, growing interest in remote and wireless technologies, and simplified coverage policies. Also, the region has great reimbursement coverage for necessary medical devices, which contributes to high knowledge and accessibility of healthcare services and high demand.

OEM patient monitoring and vital signs from Europe The market is expanding in the region as a result of increased funding and initiatives for R&D, increased adoption of cutting-edge OEM technologies, the prevalence of neurological diseases, and an increase in the number of new products launched by market players. OEM modules hold the second-largest market share.Also, the UK market for OEM patient monitoring and vital sign OEM modules is expanding at the quickest rate in the Europe area, while the Germany market for these products held the biggest market share in 2021.

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Due to factors including the existence of important OEM module and component manufacturers and rising medical tourism in the area, the Asia-Pacific OEM patient monitoring and vital sign OEM module market is anticipated to develop at a substantial rate between 2022 and 2030. Asia-Pacific is likewise anticipated to develop at the quickest pace throughout the anticipated timeframe. This might be attributable to the vast unmet requirements in this area, particularly in developing countries like India and China for basic healthcare. Also, the expanding healthcare and medical tourism industries in this area have a lot to offer the market participants throughout the projection period. Additionally, the India market for OEM patient monitoring and vital sign OEM modules is expanding at the quickest rate in the Asia-Pacific region, while China's market for these products held the biggest market share in 2021.

Discover more research Reports on Healthcare Industry by Market Research Future:

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Healthcare OEM Market Size, Growth and Trends Analysis by type (healthcare software, Medical device and instruments), OEM solutions (Quality control and regulatory compliance, Manufacturing and fabrication, Packaging and sterilization, Product design and development, Order fulfillment & flexible distribution, Technical support, Project management), Application (Healthcare administration, Dentistry, Surgery, Laboratory, Veterinary, Pharmaceutical and cosmetics, Ophthalmology, Dialysis, Others) - Forecast till 2030

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