Overview and Scope
Multi-parameter patient monitoring equipment refers to equipment that displays
a variety of information sets on a single screen by accessing the vital signs
of patients to help the patient comprehend her status.
Sizing and Forecast
The multi-parameter patient monitoring equipment market size has grown strongly
in recent years. It will grow from $8.83 billion in 2023 to $9.39 billion in
2024 at a compound annual growth rate (CAGR) of 6.3%. The
growth in the historic period can be attributed to rise in chronic
diseases, aging population, patient safety concerns, hospital and healthcare
facility expansion, focus on early disease detection, consumer awareness and
demand..
The multi-parameter patient monitoring equipment market size is expected to see
strong growth in the next few years. It will grow to $12.32 billion in 2028 at
a compound annual growth rate (CAGR) of 7.0%.
The growth in the forecast period can be attributed to telemedicine
expansion, focus on home healthcare, global health crises preparedness, focus
on preventive healthcare, connected health ecosystem, global events and public
health initiatives.. Major trends in the forecast period include integration of
wireless technologies, telehealth and remote patient monitoring, digital health
platforms, smart alarms and alerts, artificial intelligence (ai) and machine
learning (ml), interoperability standards..
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Segmentation & Regional Insights
The multi-parameter patient monitoring equipment market covered in this report
is segmented –
1) By Product Type: High-Acuity Monitors, Critical Care Monitors, Magnetic
Resonance Imaging (MRI) Compatible Monitors, Perioperative Monitor, Mid-Acuity
Monitors, Low-Acuity Monitors
2) By Application: Cardiology, Neurology, Respiratory, Fetal And Neonatal,
Other Applications
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centres, Home
Healthcare
North America was the largest region in the multi-parameter patient monitoring
equipment market in 2023. Asia-Pacific is expected to be the fastest-growing
region in the multi-parameter patient monitoring equipment market during the
forecast period. The regions covered in the multi-parameter patient monitoring
equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North
America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing incidence of chronic illnesses is expected to propel the growth
of the multi-parameter patient monitoring equipment market going forward.
Chronic diseases refer to a disease that requires more medical attention. Multi
parameter patient monitoring equipment is helpful for chronic patients to
assess vital signs such as respiration rate, electrocardiograph, and blood
pressure of chronic disease patients. For instance, in July 2022, the Centers
for Disease Control and Prevention, a US-based national public health agency,
defines that every 6 out of 10 US have chronic diseases and four out of the ten
adults are suffering from more than two chronic diseases such as chronic lung
cancer, heart disease, stroke, diabetes. Additionally, according to United
Nations, by 2030, chronic diseases is expected to cause around 70% of all
deaths and nearly 56% of diseases worldwide. Therefore, the increasing
incidence of chronic illnesses is driving the growth of the multi-parameter
patient monitoring equipment market.
Key Industry Players
Major companies operating in the multi-parameter patient monitoring equipment
market are adopting new technological products, such as Dozee Pro Ex, to
sustain their position in the market. Dozee Pro Ex is ambulatory connected
patient monitoring system equipped with wireless wearable sensors. For
instance, in October 2023, Dozee, an India-based company that provides remote
patient monitoring launched Dozee Pro Ex. Dozee Pro Ex provides continuous
monitoring of patient vitals such as electrocardiogram (ECG) rhythm, blood
pressure, heart rate/pulse rate, oxygen saturation, respiration rate, and
temperature. Dozee Pro Ex has an artificial intelligence (AI)-powered early
warning system that tracks the trends of vital parameters and provides timely
alerts for possible clinical deterioration.
The multi-parameter patient monitoring equipment market report table of contents includes:
1. Executive Summary
2.
Multi-Parameter Patient Monitoring Equipment Market Characteristics
3.
Multi-Parameter Patient Monitoring Equipment Market Trends And Strategies
4.
Multi-Parameter Patient Monitoring Equipment Market - Macro Economic Scenario
5. Global
Multi-Parameter Patient Monitoring Equipment Market Size and Growth
.
31. Global
Multi-Parameter Patient Monitoring Equipment Market Competitive Benchmarking
32. Global
Multi-Parameter Patient Monitoring Equipment Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Multi-Parameter Patient Monitoring Equipment
Market
34.
Multi-Parameter Patient Monitoring Equipment Market Future Outlook and
Potential Analysis
35.
Appendix
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