PUBLISHER: Grand View Research | PRODUCT CODE: 1813833
PUBLISHER: Grand View Research | PRODUCT CODE: 1813833
The global multiparameter patient monitoring systems market size was estimated at USD 12.90 billion in 2024 and is projected to reach USD 21.42 billion by 2033, growing at a CAGR of 5.82% from 2025 to 2033. The market growth is primarily driven by the increasing demand for early diagnosis and treatment of chronic illnesses, the growing need for real-time patient monitors in critical care units, utilizing data points for enhanced clinical decisions, and providing hospital-like care in home care settings.
Inpatient wards and intensive care units (ICU) use multiparameter patient monitors to improve the patient's quality of life. Multiparameter monitoring is an essential part of the care of critically ill patients, especially in emergency departments, as the functional response to critical illness is strongly linked to the outcome. For instance, according to the CDC's National Center for Health Statistics, around 155.4 million people visited emergency departments in the U.S. in 2024. Monitoring critically ill patients using multiparameter monitors allows the measurement of physiological reserves and indicates the effectiveness of therapeutic interventions.
Moreover, the introduction of wireless networks such as radio frequency identification (RFID) and medical body area networks (MBAN) in the healthcare sector has revolutionized the diagnostic processes of patient health without causing any discomfort attributed to its wireless design. This aids in monitoring heart rate, blood pressure, body temperature, and oxygen level. Furthermore, key strategic developments undertaken by multiparameter patient monitoring participants are anticipated to propel growth further. For instance, in June 2023, Royal Philips and Masimo announced FDA approval to integrate SedLine brain functioning monitoring, regional oximetry, and CO2 measurements with IntelliVue MX750 and MX850. The integration is expected to allow clinicians to assess blood saturation of the brain, anesthetic sedation, and other key factors within the same monitor.
Global Multiparameter Patient Monitoring Systems Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global multiparameter patient monitoring systems market report based on device, acuity level, age group, end use, and region: