Multi-Parameter Patient Monitoring Market - Global Industry Analysis

Multi-Parameter Patient Monitoring Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Medical Device Report Format : PDF Report Code: ZMR-6268 Status : Upcoming

Description

Global Multi-Parameter Patient Monitoring Market: Overview

The multi-parameter monitors provide different types of information on a single screen. It facilitates all the information on a single screen that is required for understanding the current situation of patients. It looks like a monitor offering a critical care solution. It provides information regarding the non-invasive blood pressure, ECG, heart rate reading, central venous pressure, PaCO2, SpO2, blood pressure, and temperature. Such monitors consist of alarms with set parameters and the professional caretakers are alarmed for variation far off the parameter set.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Multi-Parameter Patient Monitoring Market: Growth Factors

One of the major factors driving the growth of the global multi-parameter patient monitoring market is the growing demand for real-time patient monitoring in critical care units. Moreover, the high adoption rate of technologically advanced wearable devices for accurate and real-time monitoring is significantly boosting the growth of the global multi-parameter patient monitoring market. Monitors are widely utilized for improving the quality of healthcare in both the intensive care units and patient wards. Monitoring is a crucial part of a critically ill patient, particularly in the emergency department. The monitoring of critically ill patients facilitates the accurate measurements of psychological reserves and also indicates the efficacy and effectiveness of therapeutic interventions. The ongoing advancements in wearable devices and wireless communication technology in the field of medical telemetry will further propel the growth of the global multi-parameter patient monitoring market during the forecast period. Moreover, the emergence of single-use portable devices has significantly propelled patient flexibility and assisted in saving the cost of a regular hospital visit. The constant increase in demand for home-based medical treatment for the constantly growing geriatric population is also propelling the demand for portable devices and hence augmenting the growth of the global multi-parameter patient monitoring market.

Global Multi-Parameter Patient Monitoring Market: Segmentation

The global multi-parameter patient monitoring market can be segmented into end-user, age groups, acuity level, device type, and region.

By end-user, the market can be segmented into ambulatory surgical centers, home care settings, hospitals, and others. The hospital segment accounts for the largest share in the global multi-parameter patient monitoring market due to the growing number of patients visiting hospitals at regular intervals due to injuries, chronic disease, and other emergencies all across the globe.

By age group, the market can be segmented into geriatric, adult, and pediatric. The geriatric segment holds the largest share in the global multi-parameter patient monitoring market due to the rising aging population all across the globe. The geriatric population is at high risk of being affected by chronic diseases.

By acuity level, the market can be segmented into low, medium, and high. The high acuity level segment holds hegemony over others due to the growing number of patients suffering from serious medical issues or other life-threatening diseases that need constant monitoring with maximum accuracy and rapid diagnosis.

By device type, the market can be segmented into fixed and portable. The portable device segment dominates the global multi-parameter patient monitoring market due to the large number of advantages associated with it. The portable devices provide a mobile solution that is easy to use.

Global Multi-Parameter Patient Monitoring Market: Regional analysis

North America accounts for the largest share in the global multi-parameter patient monitoring market due to the presence of prominent market players in the region. Also, the increasing prevalence of chronic diseases in the region further boosts the growth of the regional market.

Asia Pacific is expected to witness huge growth during the forecast period due to the growing demand for remote patient monitoring and associated services owing to the rising government spending to strengthen the healthcare infrastructure in the region.

Global Multi-Parameter Patient Monitoring Market: Competitive Players

Some of the significant players in the global multi-parameter patient monitoring market are SternMed GmbH, Smiths Medical, Spacelabs Healthcare, SCHILLER, Skanray Technologies, Masimo Corporation, Medtronic PLC, Drägerwerk AG & Co. KGaA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., GE Healthcare, and Koninklijke Philips N.V.

Global Multi-Parameter Patient Monitoring Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

One of the major factors driving the growth of the global multi-parameter patient monitoring market is the growing demand for real-time patient monitoring in critical care units. Moreover, the high adoption rate of technologically advanced wearable devices for accurate and real-time monitoring is significantly boosting the growth of the global multi-parameter patient monitoring market.

Some of the significant players in the global multi-parameter patient monitoring market are SternMed GmbH, Smiths Medical, Spacelabs Healthcare, SCHILLER, Skanray Technologies, Masimo Corporation, Medtronic PLC, Drägerwerk AG & Co. KGaA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., GE Healthcare, and Koninklijke Philips N.V.

 

North America accounts for the largest share in the global multi-parameter patient monitoring market due to the presence of prominent market players in the region. Also, the increasing prevalence of chronic diseases in the region further boosts the growth of the regional market.

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