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

"Multi-Parameter patient monitoring equipment market to exhibit dynamic growth during the forecast period"

The global multi-parameter patient monitoring equipment (MPME) market is increasing competently, expected to grow at a CAGR of 5.8%. Multi-parameter patient monitoring equipment is essentially used for monitoring patient’s health in real-time. The high-end multi-parameter 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, growing prevalence for chronic disorders, cardiac-related conditions among the ageing population, and 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 MPME market. 

Market Synopsis

Multiparameter Patient Monitoring Equipment Market

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

Advancement in high acuity monitors segment along with technological advancement will show promising growth. Improved remote patient monitoring along with its top benefits is gaining traction in the overall 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 few key factors driving the growth of the market. 

The high acuity monitors segment represents around 55% of the market share globally in 2018. Low-acuity monitors is the fastest growing segment, mainly in the emerging nations. European and Asian nations are yet to improve care in low and mid-acuity wards. The high acuity monitors segment is currently being 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 and availability of top quality devices for enhanced patient outcomes. 

Multiparameter Patient Monitoring Equipment Market

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"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. Increased admissions for CVDs, heart-related conditions and other lifestyle diseases will boost the overall 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. 

Advancement in monitoring technology, marketing approval of new systems, increasing ageing population with lifestyle issues, and improved patient outcomes with real-time data management will drive the market growth for multi-parameter 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 (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, launch of new systems and the presence of top manufacturers holds the U.S. market in dominant position" 

In 2018, the North America region generated maximum revenue share in the multi-parameter patient monitoring equipment market due to an increase in prevalence for chronic disorders, increasing hospital admissions, and increased need for high-acuity monitoring. 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 onsite is on a rise in the developing nations. In the Asia Pacific and Europe, hospitals have acquired the latest monitoring equipment used to provide a connection to the server and are HL7 compatible, thus allowing easy data faster smoothly. Many hospitals are in progress making a focused effort to expand resource management, to modernize diagnostic and real-time monitoring procedures and to optimize 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 on a globally. 

Multiparameter Patient Monitoring Equipment Market

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Multiparameter Patient Monitoring Equipment Market

Key Industry Developments 

  • In August 2018, VitalConnect, Inc. launched VistaTablet multiparameter patient monitoring system, a great platform for real-time and home healthcare.
  • 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

Market Segmentation 

 

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Million
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 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 that gives a better market understanding of the overall Multi-Parameter Patient Monitoring Equipment market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report 

  • What are the current market trends and dynamics in the multi-parameter patient monitoring equipment market and valuable opportunities for emerging players?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which product type segment holds a larger market share and why?
  • Are low and middle-income economies investing in the multi-parameter patient monitoring equipment market?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
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Published Date:  Jan 2020
Category:  Medical Devices
Report ID:   60155
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
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