Multi-Parameter Patient Monitoring Market: Increasing Usage in Home Care Monitoring will Boost the Demand: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018

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Multi Parameter Patient Monitoring Market

An Incisive, In-depth Analysis on the Multi Parameter Patient Monitoring Market

This study offers a comprehensive, 360 degree analysis on the Multi Parameter Patient Monitoring market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Multi Parameter Patient Monitoring market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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multi parameter patient monitoring market snapshot

Multi-parameter Patient Monitoring Market - Key Research Findings

The global multi-parameter patient monitoring market size in 2018 – nearly US$ 3.8 Bn.

FMI anticipates a promising 4.6% CAGR for the multi-parameter patient monitoring market value, during 2018-2028.

North America and Europe will remain the largest regional markets for multi-parameter patient monitoring

Most multi-parameter patient monitoring companies are densely concentrated in the North America and Europe regions. However, it is also observed that there is a rise in the number of hospital beds in intensive care units in the developing regions, which is boosting the growth opportunities for the multi-parameter patient monitoring market in these regions.

The Asia Pacific holds a high growth potential for the multi-parameter patient monitoring market

The rapidly growing prevalence of chronic diseases, the increasing number of elderly population, and increasing demand for intensive care has majorly contributed to the growth of the multi-parameter patient monitoring market within the Asia Pacific region, particularly in fast-growing economies such as China and India.

The high acuity level segment will remain most preferred segment of the multi-parameter patient monitoring market

The rapid diagnosis of certain advanced parameters, such as rSO2, PiCCO, and ScvO2, with maximum accuracy is expected to significantly drive the high acuity level segment of the multi-parameter patient monitoring market.

Top 3 Factors Shaping the Multi-Parameter Patient Monitoring Market

multi parameter patient monitoring market analysis

Rising Prevalence of Chronic Diseases Boost Applications of Multi-Parameter Patient Monitoring Systems

The increasing prevalence of chronic diseases, such as diabetes, cancer, asthma, COPD, heart diseases among others, pose an enormous burden on healthcare service resources. Multi-parameter patient monitors enable the capturing of the various parameters of an individual’s health status with chronic conditions.

The multi-parameter patient monitoring systems have emerged as a monitor that offers a flexible solution for varying critical care needs. Multi-parameter patient monitors provide readings such as central venous pressure, heart rate, non-invasive blood pressure, pulse oximetry, ECG, PaCO2, and invasive blood pressure & temperature.

Growing Incidences of Chronic Diseases across the Elderly Population to Trigger Demand

Older persons are usually more susceptible to infections as compared to young adults. Moreover, it is also known that aging is majorly associated with immune dysfunction, particularly in cell-mediated immunity.

The world’s aging population is growing rapidly, and the population aged 60 years and above accounts for over 10%, which is expected to rise to over 20% by 2050. Elderly persons suffer from a variety of chronic disorders, some of which affect the integrity of host resistance to infections.

This increases the demand for the multi-parameter patient monitors for the treatment of various chronic diseases among the elderly population, which is also contributing to the growth of the multi-parameter patient monitoring market growth.

Adoption of Multi-Parameter Patient Monitors in Intensive Care Units to Surge

Over the past few years, it has been observed that there is a rapid increase in the number of hospital beds in intensive care units as a result of growth in the number of hospital stays, need for emergency care, and medical intensive care services.

According to the Society of Critical Care Medicine, around 5.7 million patients are admitted to intensive care units every year in the U.S. Cardiac, respiratory, and neurological conditions are common in ICU patients, which requires the continuous monitoring of various body parameters.

Therefore, continuous bed-side patient monitoring has become a valuable and necessary tool in intensive care units. This is considered one of the major factors driving the demand for multi-parameter patient monitoring systems over the forecast period.

Multi-Parameter Patient Monitoring Market Structure Analysis

The global multi-parameter patient monitoring market represents a consolidated competition landscape, wherein Tier 1 companies of the multi-parameter patient monitoring market hold a revenue share of more than 60%.
Most of the key players maintain a strategic focus on the North America and Europe markets.
Leading players in the multi-parameter patient monitoring market are also concentrating on the rising handheld/portable medical device trend, whereas cost-competitiveness will remain a strong differentiation strategy.
Chinese manufacturers, such as General Meditech, Inc. and Mindray Medical International Limited, have been substantially contributing to the revenue growth of the multi-parameter patient monitoring market.

FMI has compiled a study on the multi-parameter patient monitoring market, which provides the analysis and forecast of the multi-parameter patient monitoring market in its publication titled ‘Multi-Parameter Patient Monitoring Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028.’

This report on the multi-parameter patient monitoring market covers some of the vital facets that are considered among the key factors influencing the supply and demand for multi-parameter patient monitoring over the next several years. An in-depth review of the potential challenges, unique trends, growth drivers, and opportunities are studied to understand the overall landscape of the multi-parameter patient monitoring market.

Multi-parameter patient monitoring includes devices used for the continuous monitoring of the functional and vital parameters such as Blood Pressure (BP), temperature, oxygen saturation in the blood (SpO2), capnography (CO2), and Respiration Rate (RR) in patients on a continuous basis. Multi-parameter patient monitors are majorly used in the Operation Theatres (OT), emergency settings, Intensive Care Units (ICU), and physician’s clinics. Multi-parameter patient monitors include high-acuity monitors, mid-acuity monitors, and low-acuity monitors.

Multi-parameter Patient Monitoring Market Study Overview

The report on the multi-parameter patient monitoring market has been prepared in different chapters for better clarity. At the beginning of the multi-parameter patient monitoring market report, a brief executive summary consists of the key findings of the study on the multi-parameter patient monitoring market with some growth rates and market estimations for important segments.

The following chapter consists of the scope and multi-parameter patient monitoring market definition, as well as the coverage in terms of the way in which the multi-parameter patient monitoring market is structured. Subsequently, the chapter on the market background includes the relevant economic indicators, such as an increase in healthcare spending, the growing prevalence of chronic diseases, and the dynamics impacting the growth of the multi-parameter patient monitoring market.

The following chapters provide a dive deep into the global multi-parameter patient monitoring market, covering all the detailed information based on the acuity level, modality, and end user. The next set of chapters provide the region-wise analysis and forecasts of the multi-parameter patient monitoring market, which cover the vital aspects of the market in North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.

A dashboard view of some of the key companies operating in the multi-parameter patient monitoring market in terms of their offerings, regional presence, and other metrics is a precursor to detailed profiles of these participants including financial information, strategy overview, and services offered, as well as analyst commentary.

Some of the key players analysed in the multi-parameter patient monitoring market report include Koninklijke Philips N.V., General Electric Company, Medtronic plc, OSI Systems, Inc., Nihon Kohden Corporation, Drägerwerk AG & Co. KGaA (Draeger, Inc.), Masimo, Contec Medical Systems Co., Ltd., General Meditech, Inc., Mindray Medical International Limited, and Schiller AG.

The multi-parameter patient monitoring market has been estimated based on install base approach. The multi-parameter patient monitoring market was first calculated based on an average number of multi-parameter patient monitors installed in different region/countries. The install base of the multi-parameter patient monitor was estimated based on the installation of equipment in hospitals, ambulatory surgical centres, specialty clinics, and home care settings globally.

This information is further validated with primary research and secondary. With this approach, the report on multi-parameter patient monitoring market anticipates the industry attractiveness of every major segment in multi-parameter patient monitoring over the forecast period.

Global Multi-Parameter Patient Monitoring Market: Segmentation

Analysis of Multi-Parameter Patient Monitoring Market by Acuity Level