Cover Image
Market Research Report

Global Multi-parameter Patient Monitoring Market - Segmented by Type of Device, Acuity Level, Target Area, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Published by Mordor Intelligence LLP Product code 391325
Published Content info 105 Pages
Delivery time: 1-2 business days
Price
Back to Top
Global Multi-parameter Patient Monitoring Market - Segmented by Type of Device, Acuity Level, Target Area, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)
Published: May 1, 2018 Content info: 105 Pages
Description

The global multi-parameter patient monitoring market is expected to register a CAGR of 5% during the forecast period of 2018-2023. Multi-parameter monitors are devices that monitor various parameters such as arterial blood pressure, heart rate, body and skin temperature, oximetry, and capnography with a single device. These devices have become popular as they are small, portable, and user-friendly. Periodic reports and immediate alerts for any sudden changes in the health of sick patients may give people an opportunity to act quickly and save the life of the person in danger. Even from a personal health monitoring perspective, the ability to relay the health information collected to a doctor or a hospital for advanced or emergency assessment is a great asset to people.

Increase in Aging Population

Population aging in the 21st century is without any equivalent in human history. It results from declining mortality and most importantly, declining fertility. This process leads to a comparative decline in the proportion of children and to an increase in working and old population. Population aging has major social and economic significances. Currently, about two-thirds of the world's older persons live in developing countries. Increase in aging population directly contributes to the growth of these devices. The aged patients who are unable to reach out to hospitals propel the demand for MPM. Hence, the market for remote patient monitoring, wireless devices, and homecare healthcare services provided with the help of connectivity like Wi-Fi and cloud is growing day-by-day. The other factors, such as the rising incidences of chronic diseases due to lifestyle changes, need to contain healthcare expenditure, demand for home-based monitoring devices, and ease of use and portability devices are driving the growth of the multi-parameter patient monitoring market.

Resistance from the Healthcare Industry Professionals

The patient monitoring systems pose a threat to the entire hospital and healthcare setup. These devices are being adopted by patients to avoid the entire stress of hospitalization and follow up care. This will, in turn, largely reduced the revenue of hospitals. Hence, hospitals are posing resistance to adopting the patient monitoring systems. Another reason is that the doctors and healthcare professionals believe that patients after a surgical procedure or bout of illness require sufficient amount of rest, which may not be available when they go back to their regular life. A hospital environment, on the other hand, ensures that the patient receives the required rest before they go back to their normal lives. This is another reason why healthcare professionals resist adopting this technology and hindering the growth of the multi-parameter patient monitoring market. The other factors, such as stringent regulatory framework and lack of proper reimbursement are also hindering the market.

United States to Lead the Market in North America

The United States multi-parameter patient monitoring market held the largest market share, in 2017, in North America due to the presence of high-quality healthcare system and modern medical technology in the country. Additionally, the presence of a high percentage of the elderly population in the region is likely to contribute toward the growth of the multi-parameter patient monitoring market.

Key Developments in the Market

October 2017: ABBOTT acquired ALERE.

October 2017: Abbott launched the first and only smartphone compatible insertable cardiac monitor in the United States.

Major players: ABBOTT LABORATORIES, AMD GLOBAL TELEMEDICINE, BAXTER, BOSCH MEDICAL, BOSTON SCIENTIFIC, CR BARD, CARDIOCOM, MEDTRONIC, GE HEALTHCARE, and PHILLIPS HEALTHCARE, among others.

Reasons to Purchase the Report

Follow the current and future multi-parameter patient monitoring market in the developed and emerging markets.

Examining the various perspectives of the market with the help of Porter's Five Forces Analysis

Identify the segment that is expected to dominate the market.

Identify the regions that are expected to witness the fastest growth during the forecast period.

Identify the latest developments, market shares, and strategies employed by the major market players.

3-month analyst support along with the Market Estimate sheet (in Excel).

Customization of the Report

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.

Table of Contents
Product Code: 52141

Table of Contents

1. Introduction

  • 1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

  • 5.1 Current Market Scenario
  • 5.2 Porter's Five Forces Analysis
    • 5.2.1 Bargaining Power of Suppliers
    • 5.2.2 Bargaining Power of Consumers
    • 5.2.3 Threat of New Entrants
    • 5.2.4 Threat of Substitute Products and Services
    • 5.2.5 Competitive Rivalry within the Industry

6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

  • 6.1 Drivers
    • 6.1.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes
    • 6.1.2 Increase in Aging Population
    • 6.1.3 Need to Contain Healthcare Expenditure
    • 6.1.4 Demand for Home-based Monitoring Devices
    • 6.1.5 Ease-of-use and Portability Devices
  • 6.2 Restraints
    • 6.2.1 Resistance from the Healthcare Industry Professional toward the Adoption of Patient Monitoring Systems
    • 6.2.2 Stringent Regulatory Framework
    • 6.2.3 Lack of Proper Reimbursement
  • 6.3 Opportunities
  • 6.4 Key Challenges

7. Market Segmentation

  • 7.1 By Type of Device
    • 7.1.1 Patient Monitors/Portals
    • 7.1.2 Clinical Decision Supports Systems
    • 7.1.3 Surveillance and Networking
    • 7.1.4 Wireless Monitoring
    • 7.1.5 Cable-less Measurement
    • 7.1.6 Others
  • 7.2 By Acuity Level
    • 7.2.1 High Acuity Level
    • 7.2.2 Medium Acuity Level
    • 7.2.3 Low Acuity Level
  • 7.3 By Target Area
    • 7.3.1 Cardiology
    • 7.3.2 Neurology
    • 7.3.3 Respiratory
    • 7.3.4 Fetal & Neonatal
    • 7.3.5 Weight Monitoring
    • 7.3.6 Temperature Monitoring
    • 7.3.7 Remote Monitoring
    • 7.3.8 Others
  • 7.4 By End User
    • 7.4.1 Hospitals
    • 7.4.2 Home Health Care
  • 7.5 By Geography
    • 7.5.1 North America
      • 7.5.1.1 United States
      • 7.5.1.2 Canada
      • 7.5.1.3 Mexico
    • 7.5.2 Europe
      • 7.5.2.1 France
      • 7.5.2.2 Germany
      • 7.5.2.3 United Kingdom
      • 7.5.2.4 Italy
      • 7.5.2.5 Spain
      • 7.5.2.6 Rest of Europe
    • 7.5.3 Asia-Pacific
      • 7.5.3.1 China
      • 7.5.3.2 Japan
      • 7.5.3.3 India
      • 7.5.3.4 Australia & New Zealand
      • 7.5.3.5 South Korea
      • 7.5.3.6 Rest of Asia-Pacific
    • 7.5.4 Middle East & Africa
      • 7.5.4.1 GCC
      • 7.5.4.2 South Africa
      • 7.5.4.3 Rest of the Middle East & Africa
    • 7.5.5 South America
      • 7.5.5.1 Brazil
      • 7.5.5.2 Argentina
      • 7.5.5.3 Rest of South America

8. Competitive Landscape

  • 8.1 Mergers & Acquisition Analysis
  • 8.2 Agreements, Collaborations, and Partnerships
  • 8.3 New Products Launches

9. Key Players

  • 9.1 Abbott Laboratories
  • 9.2 AMD Global Telemedicine
  • 9.3 Baxter
  • 9.4 Bosch Medical
  • 9.5 Boston Scientific
  • 9.6 Cardiocom
  • 9.7 CR Bard
  • 9.8 GE Healthcare
  • 9.9 Medtronic
  • 9.10 Phillips Healthcare

List not Exhaustive

10. Future of the Market

11. Disclaimer

Back to Top