Multi-parameter Patient Monitoring Equipment - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Multi-parameter Patient Monitoring Equipment market is accounted for $4.01 billion in 2019 and is expected to reach $6.21 billion by 2027 growing at a CAGR of 5.6% during the forecast period. Some of the key factors propelling the market growth include increasing incidence of chronic diseases, growing awareness regarding the application of multi-parameter patient monitors, rising base of target patient population, and increasing demand for home-based monitoring devices. However, high initial cost and possible chances of low accuracy of equipment are restricting the market growth.
Multi-parameter patient monitors are medical devices used to monitor patients’ vital signs under critical care. This equipment have been developed in order to obtain a number of patients’ vital information such as heart rate, central venous pressure, electrocardiogram (ECG), blood pressure, temperature, respiration rate, and overall saturation level using a single equipment to understand patient’s condition. This equipment provide multiple information on a single screen which helps the caregiver and healthcare professional to provide better healthcare services to the patients, primarily to patients in intensive care units (ICUs) and post-surgery patients to constantly monitor health of the patient.
By end user, the hospital segment is estimated to have considerable market growth over the forecast period, owing to increasing number of admissions in the ICUs, casualty department, and emergency department. In addition, rising development of hospitals infrastructure in various developed and developing countries with advanced medical devices are expected to drive demand for multi-parameter patient monitoring equipment in the hospitals can drive the segment growth.
On the basis of geography, North America region is anticipated to grow at the significant rate during the forecast period. Availability of technologically advanced patient monitors and strong government support in terms of investment is boosting the growth of multi-parameter patient monitoring equipment market in North America.
Some of the key players in multi-parameter patient monitoring equipment market include Becton, Dickinson and Company, Bosch Medical, Schiller AG, Contec Medical Systems Co., Ltd., Guangdong Biolight Meditech Co., Ltd., Draeger, Inc., Mindray Medical International Limited, Spacelabs Healthcare, CAS Medical Systems, Inc., OSI Systems, Inc., Masimo Corporation, Philips Healthcare, General Electric Company, Nihon Kohden Corporation, General Meditech, Inc., Baxter International Inc., AMD Global Telemedicine, and Medtronic Plc.
Acuity Levels Covered:
• Low-acuity Monitors
• Mid-acuity Monitors
• High-acuity Monitors
Device Types Covered:
• Fixed Device
• Portable Device
End Users Covered:
• Home Healthcare
• Infants & Young Children
• Ambulatory Surgical Centers
• Fetal & Neonatal
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Supply chain trends mapping the latest technological advancements
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