multiparameter patient monitoring market report

According to a new market research report published by Global Market Estimates Research & Consultants, Multiparameter Patient Monitoring Market is expected to grow at a significant CAGR over the forecast period. The report aims at studying the current scenario and future revenue pockets for the Multiparameter Patient Monitoring Market.

Full Answer

Patient Monitoring Market Size, Share, Analysis (2022 - 27) | Industry ...

Patient Monitoring Market Size, Share, Trends, Growth | 2022 to 2027 ...

What is the global patient monitoring market?

The global multiparameter patient monitoring systems market size was valued at USD 10.0 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027. Factors, such as high demand for real-time patient monitors in critical care units, increasing target population, and adoption of technologically advanced smart wearables with the ongoing trend of accurate and real-time monitoring are boosting the market growth. Multiparameter patient monitors are widely used for enhancing the quality of healthcare in both the in-patient wards and Intensive Care Units (ICUs). Monitoring is a very essential part of critically ill patients, especially in emergency departments.

What is the portable device market?

The portable segment led the market in 2019 and accounted for more than 65% of the global share. Based on device type, the market is bifurcated into portable and fixed systems. The portable segment is anticipated to expand further at the fastest growth rate during the forecast period. Portable devices offer various advantages over fixed devices.

What is the largest end use segment in 2019?

Hospitals emerged as the largest end-use segment in 2019 accounting for 39.4% of the global market share. The segment will retain its leading position throughout the forecast period as a result of the increasing number of patients being admitted to the hospitals due to chronic diseases, injuries, and other emergencies.

What is multiparameter patient monitoring?

The multiparameter patient monitoring market by hospitals is expected to grow during the forecast period due to the usage of patient monitoring devices in the emergency care setting, surgical units, and special wards to track the health condition regularly. The home care setting segment is expected to grow at a steady rate on account of the increasing awareness and adoption of home care monitors and systems. These devices enable to track vital signs at home and avoid regular hospital visits. This is considered to reduce hospital costs and help individuals to check their health regularly. Ambulatory surgery centers (ASCs) are likely to grow at the fastest rate as these centers are cost-effective and offer high-quality care with a minimal indirect treatment cost. Chronic disease patients that do not have insurance coverage are expected to prefer these healthcare settings over hospitals. The cost of surgeries in these centers is also significantly low than in hospitals. Hence, the demand for same-day discharge (SDD) procedures is rapidly increasing, and the demand for access to multiparameter patient monitoring devices is likely to increase in these centers.

What is the global patient monitoring market?

The multiparameter patient monitoring market size to reach USD 5.62 billion by 2025 growing at a CAGR of 4% during the forecast period. The global multiparameter patient monitoring market is likely to witness absolute growth because of the increasing application in hospitals, home care settings, and ambulatory surgery centers (ASCs). These devices are widely used in ICUs, emergency departments, and general wards to continuously monitor vital signs such as heart rate, blood pressure, and respiration rate. The introduction of advanced technologies, such as real-time, continuous, and remote patient monitoring (RPM), is expected to influence the market during the forecast period.

How much is the patient monitoring market expected to grow in 2025?

The US market is expected to reach over $1.9 billion by 2025 and is likely to dominate the global multiparameter patient monitoring market. However, the APAC region is expected to grow at the fastest rate than in other regions.

Global Multiparameter Patient Monitoring Market Size

The global multiparameter patient monitoring market will grow from USD 10.2 billion in 2021 to reach USD 18.5 billion by 2026 at a CAGR of 6.4%.

Global Multiparameter Patient Monitoring Market: By Device

Depending on the device, the market is segmented into fixed and portable. The portable segment is expected to grow at the highest CAGR rate during the forecast period 2021-2026.

Global Multiparameter Patient Monitoring Market: By Acuity Level

Based on the acuity level, the market is segregated into high-acuity, mid acuity, and low acuity. The high acuity level segment is expected to capture the lion’s share of the market during the forecast period.

Global Multiparameter Patient Monitoring Market: By End-Use

Depending on the end-use, the market is segmented into hospitals, homecare settings, and ambulatory surgical centers. The home healthcare settings are expected to grow at the highest CAGR rate during the forecast period. It is due to the increasing demand for home care monitoring equipment.

Global Multiparameter Patient Monitoring Market: By Region

Based on region, the market can be segregated into various regions such as North America, Europe, Central & South America, Middle East & North Africa, and Asia Pacific regions. The North American region is expected to hold a substantial share of the market during the forecast period followed by the European region.

Global Multiparameter Patient Monitoring Market Share and Competitor Analysis

Nihon Kohden, Hillrom, Medion Healthcare, Medtronic PLC, Mindray, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, GE Healthcare, and Drager, among others are some of the leading multiparameter patient monitoring companies.

Report Summary

The global multiparameter patient monitoring market was valued at USD 2,763.6 million in 2017 and is anticipated to grow at a CAGR of 4.2% during the forecast period.

Segment Analysis

The global Multiparameter Patient Monitoring market is segmented on the basis of device, application, end use and geography. Based on the device type the Multiparameter Patient Monitoring market is segmented as Patient Monitors, Wireless Monitoring, Surveillance & Networking, Clinical Decision Support System, Cable Less measurement, Others.

Regional Analysis

Geographically, the Multiparameter Patient Monitoring market is segmented across North America, Europe, Asia Pacific, Latin America, and Middle east & Africa. North American market is dominating owning to the rising awareness for the quality of healthcare.

Competitive Landscape

The major players operating in Multiparameter Patient Monitoring market include, GE Healthcare, Mindray Medical International, CAS Medical Systems, Medtronic Plc, Philips Healthcare, Roche Diagnostics, Schiller, Spacelab Healthcare among others.