Overview

Multiparameter Patient Monitoring Systems Market is poised to value USD 16215.02 million by 2028 end at a CAGR of 5.7% during the forecast period 2022 to 2028.

The increasing insistence for monitoring patients in real-time in CCUs, growing targeted population and acceptance of novel smart wearable technologies coupled with the booming trend of real-time patient monitoring are some of the factors responsible for the multiparameter patient monitoring systems market growth. Furthermore, patient monitoring systems are prominently used for intensifying the efficiency of healthcare in ICUs and in-patient wards. Patient monitoring is crucial for patients that are critically ill and with the ongoing COVID-19 pandemic, the number of critically ill patients have increased, thereby increasing the multiparameter patient monitoring systems market demand. Technological advancements like Medical Body Area Networks and Radio Frequency Identification have reduced the duration of treatment and evaluation, which shall boost the market growth.

Multiparameter Patient Monitoring Systems Market Segmentation:
By Device Type
•   Fixed
•   Portable
By Acuity Level
•   High
•   Medium
•   Low
By Age Group
•   Paediatric
•   Adult
•   Geriatric
By End User
•   Hospitals
•   Homecare Settings
•   Ambulatory Surgical Centers
•   Others
By Region
•   North America
•   Europe
•   Asia Pacific
•   Latin America
•   Middle East & Africa

The market is fragmented into device type, acuity level, application, end user and region. The device type segment is categorized into portable and fixed system. The portable segment is anticipated to hold the largest multiparameter patient monitoring systems market share owing to the benefits offered by these systems such as greater mobility. Furthermore, the hospitals need more transport within the hospital premises for therapy and special examination which shall increase the insistence for the market growth. The acuity level segment is diversified into high, medium and low level. The high-level acuity segment is predicted to lead the market during the forecast period. The age group segment is categorized into pediatric, adult and geriatric group. The geriatric population segment is anticipated to proliferate throughput the forecast period with increasing life expectancy owing to advancements in healthcare and intensive care methods. The end user segment is divided into hospital, homecare settings, ambulatory surgical centers and others.

Regional Analysis:
The North America region is expected to dominate the market and this can be credited to advancements in healthcare infrastructure, increased disposable income of patients, growing geriatric population who are more likely to require ICU services and a strong presence of major players in the region. The Asia Pacific region, on the other hand, is predicted to grow at a substantial rate during the forecasted timeframe.

Competitive Landscape:
The prominent market players are Koninklijke Philips N.V.; GE Healthcare; Shenzhen Mindray Bio-Medical Electronics Co. Ltd.; Drägerwerk AG & Co. KGaA; Medtronic; MASIMO CORPORATION; Skanray Technologies; SCHILLER; Spacelabs Healthcare; Smiths Medical; SternMed GmbH.

FutureWise Key Takeaways:
•   Growth prospects
•   SWOT analysis
•   Key market trends
•   Key data-points affecting market growth

Objectives of the Study:
•   To provide with an exhaustive analysis on the global multiparameter patient monitoring systems market by device type, by acuity level, by age group, by end user and by region
•   To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•   To evaluate and forecast micro-markets and the overall market
•   To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
•   To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers, and expansions

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