Multiparameter Patient Monitoring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Multiparameter Patient Monitoring Market – Introduction
Multiparameter patient monitoring market is expected to remain under the influence of increasing demographic of an ageing population, increasing adoption of advanced technologies in the healthcare sector and increasing emphasis on improving critical patient care settings. Multiparameter patient monitoring system is a comprehensive system that allows a clinical professional to closely monitor patients with clinical accuracy and at an affordable cost. Multiparameter patient monitoring allows medical professionals to use relevant clinical data in providing improved patient care.
Utilization of multiparameter patient monitoring systems is higher in critical healthcare settings wherein real-time patient monitoring is crucial. The multiparameter patient monitoring marketplace is witnessing the introduction of efficient and advanced designs of patient monitoring systems that aid clinical professionals in carrying out comprehensive patient care while analyzing multiple sets of parameters.
Multiparameter Patient Monitoring Market – Notable Developments
Key players in the multiparameter patient market include Spacelabs Healthcare, Nihon Kohden Corporation, Medtronic, Natus Medical and others.
Multiparameter Patient Monitoring Market Dynamics
Rise in Ageing Population to Create Opportunities for Multiparameter Patient Monitoring Market
Globally, the increasing population of the age group 60-85 has generated a scenario wherein the world is facing the threat of increasing geriatric population and associated threats. Declining rates of fertility also contribute to the increasing ageing population. With the increased ageing population, global disease burden has risen significantly. Age-associated diseases, in particular, require patient monitoring systems owing to the immobile and critical nature of the patient. Also, homecare settings have increased wherein caregivers take care of patients at home. Under such a scenario, multiparameter patient monitoring systems become extensively helpful to caregivers. Thus, increasing ageing population will directly contribute to the growing adoption of multiparameter patient monitoring systems, thereby fueling the growth of the multiparameter patient monitoring market in the coming years.
Multiparameter Patient Monitoring Market Witnesses Integration of Advanced Technologies
Manufacturers in the multiparameter patient monitoring marketplace are engaged in collaborating with tech giants to integrate advanced technology solutions. Recent devices introduced in the multiparameter patient monitoring market include features such as remote monitoring and greater connectivity through Wi-Fi and cloud technology integration.
With the growing population of aged people who are unable to reach out to the hospital, demand for multiparameter patient monitoring systems with remote monitoring feature has increased significantly. The advanced features also allow medical professionals to deliver improved healthcare to critical patients whether in a hospital or at home.
Multiparameter Patient Monitoring Adoption Witnesses Resistance from Healthcare Professionals
Use of multiparameter patient monitoring systems in the healthcare facilities result in relieving the stress of the hospitalization and follow up care, thereby reducing the revenue of the entire hospital management. Due to this, hospital management professionals are posing resistance to adopt the multiparameter patient monitoring systems. Also, a patient recovering from the critical surgery or some illness entails a need for a sufficient rest which may not require the need for advanced patient care settings such as multiparameter patient monitoring system. Based on this, the adoption of multiparameter patient monitoring systems is facing resistance from healthcare professionals in hospitals, especially tier 2 and tier 3 healthcare facilities.
Multiparameter Patient Monitoring Market – Regional Outlook
Adoption of multiparameter patient monitoring systems is likely to remain higher in the North America region. Advanced healthcare infrastructure and favorable reimbursement policies allow higher adoption of multiparameter patient monitoring systems in the region, wherein the United States accounts for a significant demand. Europe also presents significant adoption of multiparameter patient monitoring systems. Utilization of multiparameter patient monitoring systems is likely to grow at a rapid pace in the countries of Asia Pacific owing to improving healthcare infrastructure and penetration of healthcare facilities.
Multiparameter Patient Monitoring Market – Segmentation
Multiparameter patient monitoring market is segmented based on type, acuity level and application/end-user.
Based on type, multiparameter patient monitoring market is segmented into,
Based on acuity level, multiparameter patient monitoring market is segmented into,
Based on application/end user, multiparameter patient monitoring market is segmented into,
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report