Future Market Insights, in its recently published market research report provides critical insights pertaining to the growth trajectory of the multi-parameter patient monitoring market. Further, the report introspects the various factors that are likely to influence the overall growth of the market during the assessment period. According to the study, the value of the multi-parameter patient monitoring market in 2018 was ~US$ 3.8 billion and expected to reach a market value of ~US$ 6 billion towards the end of 2028. In addition, the report reveals that the market is likely to witness a moderate growth at a compounded annual growth rate of ~4.6% during the forecast period, 2018-2028.
Some of the major factors that are likely to influence market growth include, increase in the prevalence of chronic health conditions, surge in the number of road accidents worldwide, rise in the elderly population, and robust demand for intensive care in recent years. Further, advances in technology is another factor that is expected to play a key role in the development of the global multi-parameter patient monitoring market in the upcoming years.
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High Demand from Intensive Care Units (ICU) to Boost Market Growth
Over the course of the last decade, a significant surge in the number of patients being admitted to hospitals especially in the intensive care unit was observed. Thus, there was a rise in the number of beds in the intensive care unit to provide optimum emergency care. The Society of Critical Care Medicine revealed that nearly 5.7 million are admitted to the intensive care units each year in the U.S.
Further, an analyst at Future Market Insights is of the opinion that, “Respiratory, cardiac, and several neurological conditions that are highly common in patients admitted in the ICU requires continual monitoring of the different parameters of the body. Hence, consistent, accurate, and non-stop bed-side monitoring has become an integral part of the modern day intensive care units”. Thus, owing to the soaring demand for multi-parameter patient monitoring systems in the ICU, the market is likely to witness a steady growth during the assessment period.
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North America and Europe to Dominate Revenue Share
According to the research put forward by Future Market Insights, collectively, Europe and North America are expected to account for ~60% of the overall revenue share of the multi-parameter patient monitoring market. Further, North America and Europe are tipped to dominate the market share primarily due to the consolidated status of healthcare facilities and significant growth in the adoption of technological innovations. Thus, sensing the lucrative opportunities available in North America and Europe, several market players are focusing on the aforementioned regions to establish a strong presence in the market.
Multi-parameter Patient Monitoring Market: Vendor Insights
The market report highlights the leading players operating in the market along with relevant tables and figures to support the data. The prominent companies operating in the multi-parameter patient monitoring market include, Koninklijke Philips N.V., Nihon Kohden Corporation, OSI Systems, Inc., General Electric Company, Contec Medical Systems Co., Ltd., Mindray Medical International Limited and more.
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Table Of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Market Trends
1.3. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Key Success Factors
3.1. Regulatory Scenario
- Global Multi-Parameter Patient Monitoring Market Demand Analysis 2013-2017 and Forecast, 2018-2028
4.1. Historical Market Volume (Mn Units) Analysis, 2013-2017
4.2. Current and Future Market Volume (Mn Units) Projections, 2018-2028
4.3. Y-o-Y Growth Trend Analysis
- Global Multi-Parameter Patient Monitoring Market – Pricing Analysis
5.1. Regional Pricing Analysis By Acuity Level
5.2. Pricing Break-up
5.2.1. Manufacturer Level Pricing
5.2.2. Distributor Level Pricing
5.3. Global Average Pricing Analysis Benchmark
- Global Multi-Parameter Patient Monitoring Market Demand (in Value or Size in US$ Mn) Analysis 2013-2017 and Forecast, 2018-2028
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