Selbyville, Delaware, July 15, 2021 (GLOBE NEWSWIRE) --
According to latest report “Multiparameter Patient Monitoring Market by Device Type (Portable, Fixed), Acuity Level (High-Acuity, Mid-Low Acuity), End-use (Hospitals, Homecare Settings, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of multiparameter patient monitoring will cross $17.2 billion by 2027. Technological upgradations in multiparameter patient monitors will foster the market growth.
Integration of advanced technology within the multiparameter patient monitors have projected its overall adoption rate. Prominent industry players have developed technologically advanced multiparameter patient monitors that further delivers accurate analysis and efficiently detects various parameters. Moreover, the data interpretation software and solutions developed by industry leaders have allowed healthcare professions to precisely monitor patient’s health that significantly triggers the demand for multiparameter patient monitoring devices in various ASCs and hospitals.
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The portable segment in the multiparameter patient monitoring market is estimated to showcase around 6.6% growth rate by 2027. Portable monitors are highly beneficial for healthcare professionals practicing in acute care environments such as intensive care units and emergency rooms wherein transporting patients may be risky due to the associated medical conditions. These portable monitors bring point of care option to the patients and are also highly preferred by the geriatric patient pool at home owing to convenience and ease.
The multiparameter patient monitoring market for high-acuity level segment is expected to expand at a CAGR of 6.6% through 2027. Monitoring devices in these areas are composed of electro-biomedical devices that conduct continuous pulse measurement of patients. These monitoring systems are also fitted with alarm functions for constantly measuring individual’s vital signs including temperature, heart rate and blood pressure.
The homecare settings end-use segment accounted for around USD 2.5 billion in 2020 led by the rising preference for portable devices among elderly population base. Key industry players have developed portable multiparameter monitoring devices that provides operational ease and convenience. Even the old-age people can operate recently developed portable devices that escalates the segment growth.
Asia Pacific multiparameter patient monitoring market held over 22% of revenue share in 2020. Technological advancements in multiparameter patient monitors and presence of numerous leaders in this region will escalate the market expansion. Furthermore, rising investments for developing superior quality products will further favor the overall regional growth.
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Some of the eminent companies operational in the market include Nihon Kohden, Hillrom, Medion Healthcare, Medtronic PLC, Mindray, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, GE Healthcare and Drager. The market participants are concentrating on developing superior quality products that helps the firm increase its industry share internationally.
Some major findings of the multiparameter patient monitoring market report include:
- Increasing demand for multiparameter patient monitoring devices including fixed and portable devise throughout the world will secure the industry growth.
- Market players involved in this industry have adopted numerous strategic initiatives to maintain financial stability that has helped them to evolve as renowned corporate leaders.
- Growing acceptance of portable home multiparameter patient monitors and rising prevalence of different health aliments are few aspects proving beneficial for the business growth.
- North America market held substantial revenue share in 2020 and is poised to grow substantially during the forecast period.
- However, high cost associated with these monitors may hamper the overall industry expansion.
Table of Contents (ToC) of the report:
Chapter 3 Multiparameter Patient Monitoring Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By device type
3.4.2 By acuity level
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.8 PESTEL analysis
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https://www.gminsights.com/toc/detail/multiparameter-patient-monitoring-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.