PUBLISHER: The Business Research Company | PRODUCT CODE: 1271056
PUBLISHER: The Business Research Company | PRODUCT CODE: 1271056
“Multi-Parameter Patient Monitoring Equipment Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multi-parameter patient monitoring equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multi-parameter patient monitoring equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The multi-parameter patient monitoring equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the multi-parameter patient monitoring equipment market are Philips Healthcare, GE Healthcare Technologies Inc., Dragerwerk AG & Co. KGaA, Nihon Kohden Corporation, Schiller AG, Bosch Medical Solutions GmbH, AMD Global Telemedicine Inc., Mindray DS USA Inc., Boston Scientific Corporation, Abbott Laboratories, Spacelabs Healthcare, CAS Medical Systems Inc., Contec Medical Systems Co Ltd., Guangdong Biolight Meditech Company Limited, Baxter International Inc., Natus Medical Incorporated, and CR Bard Inc.
The global multi-parameter patient monitoring equipment market is expected to grow from $8.34 billion in 2022 to $8.86 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The multi-parameter patient monitoring equipment market is expected to reach $11.22 billion in 2027 at a CAGR of 6.1%.
The multi-parameter patient monitoring equipment market consists of sales of heart monitors, breath monitors, blood pressure monitors, and digital multi-parameter patient monitors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the multi-parameter patient monitoring equipment market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of multi-parameter patient monitoring equipment are high-acuity monitors, critical care monitors, magnetic resonance imaging (MRI) compatible monitors, perioperative monitors, mid-acuity monitors, and low-acuity monitors. The perioperative monitor is an established tool to help clinicians to identify those patients at higher risk in the attempt to reduce the complications rate and potentially improve patient outcomes. The applications are cardiology, neurology, respiratory, fetal, and neonatal, and other applications (weight monitoring, and temperature monitoring). The various end users are hospitals, clinics, ambulatory surgical centers, and home healthcare.
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.
Technological advancements are a key trend gaining popularity in the multi-parameter patient monitoring equipment market. Major companies operating in the multi-parameter patient monitoring equipment market are developing innovative technologies to strengthen their position in the market. For instance, in December 2022, Mindray, a China-based company operating in multi-parameter patient monitoring equipment, launched a new wearable patient monitoring solution mWear system. The unique features of the mWear system include precise measures of patient status, with its wireless monitoring technologies incorporating 6 essential vital signs powered by the Anti-motion Algorithm, specialized health parameters, status indicators, and time analysis. It has been designed to continuously monitor patient conditions.
In December 2021, Baxter International Inc., a US-based healthcare company, acquired Hill-Rom Holdings, Inc. for an amount of USD 15 billion. With this acquisition, Hill-Rom becomes part of Baxter and that would provide new opportunities to enable care efficiencies and assist in improving care outcomes for patients all across the world. Hill-Rom is US based company operating in multi-parameter patient monitoring equipment.
The countries covered in the multi-parameter patient monitoring equipment market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The multi-parameter patient monitoring equipment market research report is one of a series of new reports from The Business Research Company that provides multi-parameter patient monitoring equipment market statistics, including global market size, regional shares, competitors with a multi-parameter patient monitoring equipment market share, detailed multi-parameter patient monitoring equipment market segments, market trends and opportunities, and any further data you may need to thrive in the multi-parameter patient monitoring equipment industry. This multi-parameter patient monitoring equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.