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. Need of a robust medical monitoring devices and technology has provided an intelligent diagnosis technique that are accurate in analyzing the patient’s health with the help of physiological parameter in the real-time. This has created growing market pace for multiparameter patient monitoring devices in the coming years,
The global multiparameter patient monitoring market is primarily driven by the increasing elderly population across the globe, that has influenced growth in the medical & healthcare expenditure by the individuals across the globe. In addition, the accurate analysis of individual in real-time to also propel the market growth in the coming years. Furthermore, continuous technological advancements for developing these devices to also promote the use of multiparameter patient monitoring devices.
Moreover, the rising influence of sedentary lifestyle which has given rise to the chronic diseases such as diabetes, cardiological diseases, and other health issues would cause the upward growth in the multiparameter patient monitoring market. However, stringent regulations, high cost of implementation, and low-technical support would impede the market growth in the coming years.
Multiparameter Patient Monitoring Market (USD Million) & Y-o-Y Growth (%)
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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. Patient monitors segment to be the dominating segment in the coming years.
Based on application, the Multiparameter Patient Monitoring market is segmented as cardiology, neurology, respiratory, fetal & Neonatal, and others. Cardiology is supposed to be the dominating segment during the forecast period, owning to the increasing number of populations suffering from cardiovascular diseases. On the basis of end use, the Multiparameter Patient Monitoring market is segmented as Hospitals, Home Healthcare, and Ambulatory Care Centers.
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. Additionally, increasing number of mergers and acquisitions by the companies to also drive the regions market growth in the coming years. However, Asia Pacific is considered to be the fastest growing market during the forecast period.
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. These leading players in market are introducing innovative products in the market to cater to the consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence