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Multi-Parameter Patient Monitoring Equipment Market By Product Type (High-acuity Monitors, Mid-acuity Monitors, Low-acuity Monitors), By Application (Cardiology, Neurology, Respiratory, Fetal & Neonatal, Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, Home Healthcare) - Growth, Future Prospects, and Competitive Analysis, 2019 - 2027

"Multiparameter patient monitoring equipment market to exhibit dynamic growth during the forecast period."

The global multiparameter patient monitoring equipment (MPME) market is increasing competently, expected to grow at a CAGR of 5.8%. Multiparameter patient monitoring equipment is used for monitoring patient's health in real-time. The high-end multiparameter models are in demand globally, which include all the major vital signs offering connectivity options to the central monitoring area. Human vital parameters include blood pressure, heart rate, oxygen saturation, and respiration rate. Worldwide, the growing prevalence of chronic disorders, cardiac-related conditions among the aging population, and the rising need for advanced and quick real-time health monitoring of patients in the hospitals and home care settings will drive the overall growth of MPMthe market. 

Market Synopsis

"High-acuity segment expected to capture a larger market share by 2027."

Advancements in the high acuity monitors segment and technological advancement will show promising growth. In addition, improved remote patient monitoring and its top benefits are gaining traction in the healthcare monitoring industry. Chronic disease management, sending test results to a physician or doctor in real-time without the necessity of visiting a hospital or institution, improved cost savings, and enhanced positive outcomes in the patient's life are key factors driving the market growth. 

The high acuity monitors segment represented around 55% of the market share globally in 2018. Low-acuity monitors are the fastest growing segment, mainly in emerging nations. However, European and Asian countries are yet to improve care in low and mid-acuity wards. The high acuity monitors segment is currently led by GE Medical, Philips Healthcare, and Siemens Healthcare. Major factors leading the high-acuity segment include:

  • Increased awareness.
  • High-end monitoring.
  • Increased hospital admissions.
  • Availability of top-quality devices for enhanced patient outcomes.

"Increased need in the ICUs will show promising growth."

Hospitals in the end-user segment generated maximum revenue in the global market. The utilization of high-end monitors for continuous and close monitoring in the ICUs and general wards is extreme. In addition, increased admissions for CVDs, heart-related conditions, and other lifestyle diseases will boost the market growth. As per the studies by the University of California San Francisco, there are more than 4 Mn ICU admissions per year in the U.S., with an average mortality rate of around 500,000 every year. 

Advancements in monitoring technology, marketing approval of new systems, an increasing aging population with lifestyle issues, and improved patient outcomes with real-time data management will drive the market growth for multiparameter patient monitoring equipment worldwide. Increasing awareness and utilization of low and mid-acuity-based systems will show significant growth in the near future. For instance, Spaarne Gasthuis (A hospital in Netherland) installed BeneVision N22 along with the complete integrated IT and combined monitoring solutions (the first hospital to install this equipment). BeneVision N22 (by Mindray) is the world's first rotatable (rotates between landscape and portrait) bedside monitoring system. 

"Increasing adult population, the launch of new systems and the presence of top manufacturers hold the U.S. market in a dominant position."

In 2018, the North American region generated the maximum revenue share in the multiparameter patient monitoring equipment market due to an increase in the prevalence of chronic disorders, increasing hospital admissions, and increased need for high-acuity monitoring. As a result, North America generated around 40% revenue share globally, growing at a CAGR of 5.1% during the forecast period from 2019-2027. 

Currently, overall patient monitoring both off (home care) and on-site is on the rise in developing nations. In the Asia Pacific and Europe, hospitals have acquired the latest monitoring equipment to provide a connection to the server and are HL7 compatible, thus allowing easy data faster and smoothly. In addition, many hospitals are focusing on expanding resource management, modernizing diagnostic and real-time monitoring procedures, and optimizing data storage. However, real-time data accuracy, data security, less adoption of high-end systems in the hospitals in the developing regions, budgetary constraints, technology expansion, and unstructured medical care in a few of the emerging nations will hamper the market growth globally.

Key Industry Developments

  • In August 2018, VitalConnect, Inc. launched the VistaTablet multiparameter patient monitoring system, a great real-time and home healthcare platform.
  • In May 2018, Skanray Technologies came up with a new technology, TruSKAN multiparameter patient monitoring systems with the proficiency to monitor ECG, temperature, SpO2, respiration, NIBO, arrhythmia detection capnography, and two-channel IBP. 

List of Companies Covered:

  • AMD Global Telemedicine
  • Medtronic Plc
  • General Electric Company 
  • Nihon Kohden Corporation
  • OSI Systems, Inc.
  • Masimo Corporation
  • Draeger, Inc.
  • Mindray Medical International Limited
  • Schiller AG
  • Contec Medical Systems Co., Ltd.
  • General Meditech, Inc.
  • Baxter International Inc.
  • Philips Healthcare
  • Becton, Dickinson, and Company
  • Bosch Medical
  • Others 

Historical & Forecast Period

 This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Segmentation Product Type (2017–2027; US$ Mn)

  • High-acuity Monitors

  o Critical Care Monitors

  o Magnetic Resonance Imaging (MRI) Compatible Monitors

  o Perioperative Monitor

  • Mid-acuity Monitors
  • Low-acuity Monitors

 Application Segment (2017–2027; US$ Mn)

  • Cardiology
  • Neurology
  • Respiratory
  • Fetal & Neonatal
  • Others (Weight Monitoring, Temperature Monitoring)

 End User Segment (2017–2027; US$ Mn)

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Home Healthcare

 Geography Segment (2017–2027; US$ Mn)

  • North America (U.S. and Rest of North America)
  • Europe (U.K., Germany, France, Italy, and the Rest of Europe)
  • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities better to understand the overall Multiparameter Patient Monitoring Equipment market. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

Frequently Asked Questions

The market for Multi-Parameter Patient Monitoring Equipment is expected to reach US XX Bn in 2028.

The Multi-Parameter Patient Monitoring Equipment market is expected to see significant CAGR growth over the coming years, at 5.8%.

The report is forcasted from 2019-2027.

The base year of this report is 2021.

AMD Global Telemedicine, Medtronic Plc, General Electric Company , Nihon Kohden Corporation, OSI Systems Inc., Masimo Corporation, Draeger , Inc., Mindray Medical International Limited are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2020
Category:  Medical Devices
Report ID:   60155
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
Delivery Time: 24 Hours to 48 Hours   
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