Multiparameter Patient Monitoring Market Size By Device Type (Portable, Fixed), By Acuity Level (High-Acuity, Mid-Acuity, Low-Acuity), By Age Group (Adult, Pediatric, Geriatric), By End Use (Hospitals, Homecare Settings, Ambulatory Surgical Centers) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Feb 2019  |  Report ID: GMI2509  |  Authors: Sumant Ugalmugle

Report Format: PDF   |   Pages: 120   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

                                                 Industry Trends        

Multiparameter Patient Monitoring Market size was valued at USD 8.7 billion in 2018 and is expected to witness 3.9% CAGR from 2019 to 2025.
 

Multiparameter Patient Monitoring Market

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Rising prevalence of chronic diseases such as cancer and diabetes in developed as well as developing regions drives the demand for multiparameter patient monitoring devices. For instance, according to WHO, around 18 million new cases of cancer have been diagnosed as of 2018 globally. Moreover, prevalence of endocrine diseases such as diabetes and hyperthyroidism are specifically high in emerging economies and these diseases result in chronic conditions that requires surgeries and critical monitoring of vital parameters. Also, favourable demographic trends such as growing geriatric population susceptible to infections and diseases has positively impacted the market growth.
 

Increasing awareness regarding availability of technologically advanced multiparameter patient monitors in developing countries such as India and China will surge the industry growth in foreseeable future. Government in developing countries undertake several initiatives that improves the awareness level amongst the doctors regarding the availability of efficient multiparameter monitoring devices allowing faster patient recovery. Also, developing regions are price sensitive and hence, government and regulatory authorities undertake several initiatives to lower the price of multiparameter monitors that resolves affordability issues and proves beneficial for the industry growth. However, stringent regulatory landscape may hamper the multiparameter market growth up to some extent.
 

Multiparameter Patient Monitoring Market, By Device Type

Portable monitors was valued at USD 5.7 billion in 2018 and is expected to retain its dominant position in industry throughout analysis period. Portable multiparameter monitors developed by key industry players have improved accuracy and enables patient’s speedy recovery. Moreover, compact size increases the preference for portable patient monitors in ASC’s and even at home. Aforementioned factors coupled with high operational efficiency possessed by multiparameter patient monitors promotes segmental growth.
 

Fixed multiparameter patient monitors will witness growth of 4.0% from 2019 to 2025. Some of the well-established industry players such as GE Healthcare and Medtronic have developed technologically advanced multiparameter patient monitors that enables accurate analysis and efficient detection of various parameters. Recently developed multiparameter patient monitoring devices enable accurate analysis on various parameters such as ECG, SpO2, IBP, NIBP, RESP and temperature that improves surgical performance thereby, fostering the segmental growth over upcoming years.
 

Multiparameter Patient Monitoring Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 8.7 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 3.9% 2025 Value Projection: 11 Billion (USD)
Pages: 120 Tables, Charts & Figures: 133
Geographies covered (18): U.S., Canada, Germany, UK, France, Italy, Spain, Japan, India, China, South Korea, Australia, Brazil, Argentina, Mexico, South Africa, Saudi Arabia, UAE
Segments covered: Device Type, Acuity Level, Age Group, End Use and Region
Companies covered (12): Epsimed, KizlonMedical, Mediana, Medion Healthcare, Medtronics, Mindray, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, Spacehealth Labs, VOTEM
Growth Drivers:
  • Rising incidences of chronic diseasesin developed as well as developing regions
  • Increasing awareness regarding availability of technologically advanced multiparameter monitors in Asia Pacific
  • Rising adoption of portable home multiparameter patient monitoring devices in North America and Europe
  • Integration of advanced technology within the multiparameter monitors
Pitfalls & Challenges:
  • Stringent regulatory framework
  • High cost of multiparameter monitoring devices

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Multiparameter Patient Monitoring Market, By Acuity Level

High acuity multiparameter patient monitors segment was valued at 3.8 billion in 2018 and will have significant revenue size over the coming years. Integration of advanced technology within the high-acuity multiparameter patient monitors have fostered its adoption in intensive care units and hospitals that helps in treatment of several chronic diseases.
 

Low-acuity multiparameter patient monitors segment is expected to grow at 4.1% throughout the analysis period. Low-acuity monitors usually have high preference in ambulatory surgical centres and hospitals covered under public sectors as they have low price as compared to the high-acuity multiparameter patient monitors. Also, price sensitive regions such as Asia Pacific will have considerable adoption of low-acuity patient monitors that will prove beneficial for the segmental growth.
 

Germany Multiparameter Patient Monitoring Market Size By Acuity Level

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Multiparameter Patient Monitoring Market, By Age Group

Geriatric segment was valued at USD 3.3 billion in 2018 and is expected to grow significantly in the foreseeable future. Countries such as China and Japan have large elderly population base that positively impacts the demand for recently developed portable multiparameter patient monitors. Geriatric population is susceptible to chronic diseases such as cancer, diabetes and respiratory infections and requires continuous monitoring. Portable multiparameter patient monitors possess operational ease and are extremely accurate that drives its demand in the treatment of elderly population base.
 

Pediatric segment will grow at 4.1% throughout the analysis period owing to growing number of complications in new-borns increasing the number of neonatal intensive care unit admissions. Moreover, new-borns and pediatric population is prone to infections that surges the preference for multiparameter patient monitors in treating pediatric population that triggers the segmental growth.
 

Multiparameter Patient Monitoring Market, By End Use

Hospital segment accounted for USD 3.7 billion in 2018. Hospital segment has enormous revenue size as the demand for multiparameter patient monitors is relatively high in the intensive care units of hospitals. Furthermore, hospitals in developed countries are well-equipped with medical devices that raises preference for hospitals for intensive care cases.
 

Ambulatory surgical centres segment estimated to witness 4.1% growth from 2019 to 2025. Adoption of technologically advanced portable multiparameter patient monitors is comparatively high in ambulatory surgical centres. Also, low-acuity multiparameter patient monitors find high preference in one-day surgeries that are less critical and carried out in ASC’s that impels the business growth in upcoming years.
 

Multiparameter Patient Monitoring Market, By Region

North America multiparameter patient monitoring market currently dominates the global industry with revenue USD 3.3 billion in 2018 and the scenario is likely to remain so over the forecast period. High awareness level regarding availability of technologically advanced multiparameter patient monitoring devices triggers the regional growth. Moreover, favourable regulatory scenario for multiparameter patient monitoring market that enables superior quality of monitors enhances industry growth in forthcoming years.
 

India market is estimated to grow at 4.6% from 2019 to 2025. Considerable industry growth is due to the increasing demand for high-acuity multiparameter patient monitors in intensive care units. India is an emerging country with large elderly population base that suffers from chronic diseases and infections that proves beneficial for industry growth.
 

Asia Pacific Multiparameter Patient Monitoring Market Size By Country

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Competitive Market Share

Some of the key players in global multiparameter patient monitoring market are Epsimed, KizlonMedical, Mediana, Medion Healthcare, Medtronics, Mindray, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, Spacehealth Labs and VOTEM. Prominent industry players adopt strategies including acquisitions, mergers, distribution agreements and innovative product launch to strengthen product portfolio and garner higher market share. For instance, in November 2016, Philips entered into an agreement with Masimo to expand its offering in patient monitoring devices.
 

Multiparameter Patient Monitoring Industry Background  

Multiparameter patient monitoring market can be traced back to 1960’s that initiated with the development of physiologic monitors and has evolved drastically over the past few years. In early 1960’s with the concept of ICU rooms, patient monitors with ability to analyze major parameters were introduced. The first successful system developed was Technicon Information Medical system made in 1965. Later, key industry players such as Medtronic, Philips and GE Healthcare have integrated advanced technology within the multiparameter patient monitoring devices that have enabled accurate and efficient monitoring of patients on several parameters. Nowadays, companies provide complementary solutions and software that are required to analyze the information derived from the monitors. Although the market is in matured phase, companies operational in this industry try to introduce innovations by creating product differentiation. This scenario has helped in replacing the conventional single parameter monitoring devices with recently developed technologically advanced multiparameter patient monitoring devices that has proven beneficial for the industry growth.
 

Frequently Asked Questions (FAQ) :

Rising cases of chronic disorders such as diabetes and cancer and growing geriatric population susceptible to infections have driven the demand for multiparameter patient monitoring devices.
Portable multiparameter monitors enable high operational efficiency and improved accuracy, facilitating speedy patient recovery in Ambulatory Surgical Centers as well as across home settings.
High acuity multiparameter patient monitors market is anticipated to register significant revenue growth on account of integration of advanced technologies that facilitate the adoption of multiparameter patient monitors across ICUs and hospitals for helping treat chronic disorders.
Growing cases of clinical complications in newborns that are prone to infections and increasing number of neonatal intensive care unit admissions have trigged the deployment of multiparameter patient monitors.

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