South & Central America Vital Signs Monitoring Devices Market Forecast to 2030 - Regional Analysis - By Product and End User

The South & Central America vital signs monitoring devices market was valued at US$1.33 billion in 2022 and is expected to reach US$2.86 billion by 2030; it is estimated to grow at a CAGR of 10.0% from 2022 to 2030.

Use of Radar Technology in Healthcare Fuels the South & Central America Vital Signs Monitoring Devices Market

Radar technologies have been studied for decades for their applications in healthcare. The advantages of radar technologies have led to increased interest among researchers, and enabled the development of continuous contactless heart and respiration rate monitoring devices. Contactless monitoring would reduce the risk of cross-infection among patients and healthcare professionals, in addition to assisting doctors in accurate diagnoses. Compactness, discreetness, anonymity, robustness, and energy efficiency are the key advantages of radar technologies.

Government agencies and companies have been working on projects focused on using radar technologies in devices and enhance the quality of patients. Also, the innovative sensors are now available in a few healthcare systems to enhance diagnostics with distance resolution and signal processing. Thus, the integration of radar technologies is expected to emerge as a promising trend in the South & Central America vital signs monitoring devices market during the forecast period.

South & Central America Vital Signs Monitoring Devices Market Overview

The vital signs monitoring devices market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. South & Central America occupies a significant position in the market, and the market in the region is estimated to grow during the forecast period. The vital signs monitoring devices market is driven by factors such as the rising prevalence of viral outbreaks, growing geriatric population, increasing prevalence of respiratory diseases, growing developments in the healthcare systems, and rising prevalence of diabetes.

The rising prevalence of chronic diseases and viral outbreaks is projected to consolidate the emphasis on preventive care in the country. Brazil is experiencing an increase in respiratory diseases in the aging population, which is likely to increase the demand for vital sign monitoring devices. In Brazil, the geriatric population is growing at a rapid pace. An exponential rise in COVID-19 cases has encouraged the demand for monitoring equipment, including pulse oximeters, boosting the market growth. Also, the aging population in the country is prone to develop respiratory disorders. As per the Brazil Statistical Institute in 2017, people aged 65 and above are likely to reach 36% by 2050, and the geriatric population accounts for a significant percentage of asthma and COPD patients in Brazil. Thus, rising aging population and growing respiratory disorders are expected to increase the demand for vital sign monitoring devices in the South & Central America.

South & Central America Vital Signs Monitoring Devices Market Segmentation

The South & Central America vital signs monitoring devices market is segmented based on product, end user, and country.

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 monitors devices. The glucose monitors devices segment held the largest share in 2022. 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 the largest share in 2022.

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 dominated the South & Central America vital signs monitoring devices market in 2022.

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