Multi-billion opportunity in the multiparameter patient monitoring market, in-home care settings is gaining high prominence.
CHICAGO, March 28, 2023 /PRNewswire/ -- According to the latest research report, the multiparameter patient monitoring market will grow at a CAGR of 8.06% during 2022-2028.
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BROWSE IN-DEPTH TOC ON THE MULTI-PARAMETER PATIENT MONITORING MARKET
154 - Tables?????
128 - Charts?????
322 - Pages?
The global healthcare landscape has evolved drastically. Healthcare settings initially focused on avoiding re-admissions; however, this has shifted toward avoiding admissions and treating patients remotely. This model is helping healthcare settings to function efficiently and effectively, adding more value to patient treatment. This further prompts healthcare settings to invest in remote patient monitoring, telehealth, and advanced patient monitoring technologies.
Vendors in the multiparameter patient monitoring market & digital health have a significant opportunity to handle the shift in the healthcare landscape. Most patients are treated more for chronic diseases than other conditions, and a major portion of the healthcare expenditure in the US goes toward treating and monitoring chronic diseases. Therefore, multi-parameter patient monitors and remote patient monitoring devices will have a major impact on the future of the global healthcare market. Post-COVID-19, healthcare settings have invested in virtual care, online consultations, and home healthcare.
MULTIPARAMETER PATIENT MONITORING MARKET REPORT SCOPE
REPORT ATTRIBUTES | DETAILS |
Market Size (2028) | USD 15.20 Billion |
Market Size (2022) | USD 9.55 Billion |
CAGR (2022-2028) | 8.06 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segments | Devices, Acuity Level, Patient Group, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Countries Covered | The US, Canada, Germany, France, the UK, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, Argentina, Turkey, Saudi Arabia, and South Africa |
Market Dynamics | ·Growing Demand for Real-time Patient Monitors in Critical Care ·Increasing Target Patient Population with Various Diseases ·Enhancements in Multiparameter Patient Monitoring |
Fastest Market | APAC |
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INCREASING DEMAND FOR MULTI-PARAMETER PATIENT MONITORING IN-HOME CARE SETTINGS
It is predicted that 83.4 million patients will be monitored through wireless patient monitoring systems by 2023. About 88% of health systems and hospitals have invested or plan to invest in remote patient monitoring solutions.
Home patient monitoring is gaining widespread popularity as patients receive quality care directly at home. Home healthcare has always been recognized as a life-saving option for patients requiring long-term care to treat chronic diseases. As a result, over the past few years, home patient monitoring has become a standard of care among adult patients who require a long-term alternative to hospital-based care. Moreover, the worldwide increase in the geriatric and chronic disease population has led to a growing demand for home patient monitoring.
APAC to Witness the Fastest Growth Rate in the Multiparameter Patient Monitoring Market
The APAC multi-parameter patient monitoring is expected to reach $3.83 billion by 2028.
China and India together have a large pool of diabetic people. The market for multi-parameter patient monitoring devices in both countries is likely to grow faster than in other countries in the region. Nowadays, smart homes and smart beds with built-in multi-parameter monitoring devices are used to detect abnormalities that can be fatal and provide early treatment to patients. These advanced technologies increase the demand for multi-parameter patient monitoring devices in the APAC region.
COMPETITIVE LANDSCAPE
Most multi-parameter patient monitors manufacturing companies are densely concentrated in North America and Europe, offering products catering to the requirements of end-users in these regions. However, it is also observed that there is a rise in the number of hospital beds in various healthcare settings of developing regions, which is boosting the growth opportunities for vendors in these regions. Local manufacturers, particularly Chinese and Japanese manufacturers such as Shenzhen Mindray Bio-Medical Electronics and Nihon Kohden, are giving intense competition to international players such as GE Healthcare and Philips.
VENDOR ACTIVITIES: M&AS AND PRODUCT LAUNCHES
- In 2022, Medtronic partnered with BioIntelliSense for exclusive US distribution of the BioButton multi-parameter wearable for continuous remote patient monitoring from in-hospital settings to homes.
- In January 2022, ICU Medical acquired Smiths Medical. The addition of vital care products expanded the business range of ICU Medical with a robust reach.
- In December 2021, Baxter acquired Hillrom, a medical technology leader. Prior to that, in January 2021, Hillrom acquired Bardy Diagnostics, an innovator in digital health and a leading provider of ambulatory cardiac monitoring technologies.
- In February 2021, Philips completed the acquisition of BioTelemetry. The acquisition of BioTelemetry is a strong fit with Philips' cardiac care portfolio. The combination results in the business expansion of patient care management solutions for hospitals and homes
- In 2021, Masimo acquired LiDCO, an advanced hemodynamic monitoring technology provider.
KEY COMPANY PROFILES
- Baxter
- CONTEC MEDICAL SYSTEMS
- GE Healthcare
- Koninklijke Philips
- Masimo
- Medtronic
- NIHON KOHDEN
- OSI Systems
- Shenzhen Mindray Bio-Medical Electronics
- Advanced Instrumentations
- American Diagnostic
- Drägerwerk AG & Co.
- EDAN Instruments
- EPSIMED
- FUKUDA DENSHI
- Halma
- ICU Medical
- Infinium Medical
- Lutech
- MEDIANA
- MEDION
- Mennen Medical
- Nonin
- OMRON
- Opto Circuits (India)
- SCHILLER
- Skanray Technologies
- Viatom Technology
- VYAIRE MEDICAL
MARKET SEGMENTATION
Devices
- Portable/Compact Devices
- Fixed Devices
Acuity Level
- High Acuity Level
- Mid Acuity Level
- Low Acuity Level
Patient Group
- Geriatric Patient Group
- Adult Patient Group
- Pediatric Patient Group
End-User
- Hospitals
- ASCs
- Homecare Settings
- Others
Geography
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Italy
- Spain
- APAC
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
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TABLE OF CONTENT
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY DEVICE
4.3.2 MARKET SEGMENTATION BY ACUITY LEVEL
4.3.3 MARKET SEGMENTATION BY PATIENT GROUP
4.3.4 MARKET SEGMENTATION BY END-USER
4.3.5 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
7.1 OVERVIEW
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 MULTI-PARAMETER PATIENT MONITORS
8.1.2 COVID-19 IMPACT
9 MARKET OPPORTUNITIES & TRENDS
9.1 INCREASING DEMAND FOR MULTI-PARAMETER PATIENT MONITORING IN HOME CARE SETTINGS
9.2 GROWING DEMAND FOR PORTABLE/COMPACT MULTI-PARAMETER PATIENT MONITORS
9.3 INTEGRATION OF MULTI-PARAMETER PATIENT MONITORS WITH WIRELESS AND REMOTE MONITORING PLATFORMS
9.4 ADVANCES IN REMOTE PATIENT MONITORING TECHNOLOGY
10 MARKET GROWTH ENABLERS
10.1 GROWING DEMAND FOR REAL-TIME PATIENT MONITORS IN CRITICAL CARE
10.2 INCREASING TARGET PATIENT POPULATION WITH VARIOUS DISEASES
10.3 ENHANCEMENTS IN MULTI-PARAMETER PATIENT MONITORING
11 MARKET RESTRAINTS
11.1 FALSE ALARMS & ALARM FATIGUE
11.2 INCREASING REGULATORY COMPLEXITIES
11.3 HIGH COST OF MULTI-PARAMETER PATIENT MONITORING DEVICES
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.2.1 GEOGRAPHY SEGMENTATION INSIGHTS
12.2.2 DEVICES SEGMENTATION INSIGHTS
12.2.3 ACUITY LEVEL SEGMENTATION INSIGHTS
12.2.4 PATIENT GROUP SEGMENTATION INSIGHTS
12.2.5 END-USER SEGMENTATION INSIGHTS
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 DEVICE
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 PORTABLE/COMPACT DEVICES
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 PORTABLE/COMPACT DEVICES SEGMENT BY GEOGRAPHY
13.4 FIXED DEVICES
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 FIXED DEVICES SEGMENT BY GEOGRAPHY
14 ACUITY LEVEL
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 HIGH ACUITY LEVEL
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 HIGH ACUITY LEVEL SEGMENT BY GEOGRAPHY
14.4 LOW ACUITY LEVEL
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 LOW ACUITY LEVEL SEGMENT BY GEOGRAPHY
14.5 MID ACUITY LEVEL
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.5.3 MID ACUITY LEVEL SEGMENT BY GEOGRAPHY
15 PATIENT GROUP
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 GERIATRIC PATIENT GROUP
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.3.3 GERIATRIC PATIENT GROUP SEGMENT BY GEOGRAPHY
15.4 ADULT PATIENT GROUP
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 ADULT PATIENT GROUP SEGMENT BY GEOGRAPHY
15.5 PEDIATRIC PATIENT GROUP
15.5.1 MARKET OVERVIEW
15.5.2 MARKET SIZE & FORECAST
15.5.3 PEDIATRIC PATIENT GROUP SEGMENT BY GEOGRAPHY
16 END-USER
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.3 HOSPITALS
16.3.1 MARKET OVERVIEW
16.3.2 MARKET SIZE & FORECAST
16.3.3 HOSPITALS SEGMENT BY GEOGRAPHY
16.4 AMBULATORY CARE SETTINGS (ACS)
16.4.1 MARKET OVERVIEW
16.4.2 MARKET SIZE & FORECAST
16.4.3 ACSS SEGMENT BY GEOGRAPHY
16.5 HOME CARE SETTINGS
16.5.1 MARKET OVERVIEW
16.5.2 MARKET SIZE & FORECAST
16.5.3 HOME CARE SETTINGS SEGMENT BY GEOGRAPHY
16.6 OTHERS
16.6.1 MARKET OVERVIEW
16.6.2 MARKET SIZE & FORECAST
16.6.3 OTHERS SEGMENT BY GEOGRAPHY
17 GEOGRAPHY
17.1 MARKET SNAPSHOT & GROWTH ENGINE
17.2 GEOGRAPHIC OVERVIEW
18 NORTH AMERICA
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.2.1 MARKET BY DEVICE
18.2.2 MARKET BY ACUITY LEVEL
18.2.3 MARKET BY PATIENT GROUP
18.2.4 MARKET BY END-USER
18.3 KEY COUNTRIES
18.3.1 US: MARKET SIZE & FORECAST
18.3.2 CANADA: MARKET SIZE & FORECAST
19 EUROPE
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.2.1 MARKET BY DEVICE
19.2.2 MARKET BY ACUITY LEVEL
19.2.3 MARKET BY PATIENT GROUP
19.2.4 MARKET BY END-USER
19.3 KEY COUNTRIES
19.3.1 GERMANY: MARKET SIZE & FORECAST
19.3.2 FRANCE: MARKET SIZE & FORECAST
19.3.3 UK: MARKET SIZE & FORECAST
19.3.4 ITALY: MARKET SIZE & FORECAST
19.3.5 SPAIN: MARKET SIZE & FORECAST
20 APAC
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.2.1 MARKET BY DEVICE
20.2.2 MARKET BY ACUITY LEVEL
20.2.3 MARKET BY PATIENT GROUP
20.2.4 MARKET BY END-USER
20.3 KEY COUNTRIES
20.3.1 JAPAN: MARKET SIZE & FORECAST
20.3.2 CHINA: MARKET SIZE & FORECAST
20.3.3 INDIA: MARKET SIZE & FORECAST
20.3.4 SOUTH KOREA: MARKET SIZE & FORECAST
20.3.5 AUSTRALIA: MARKET SIZE & FORECAST
21 LATIN AMERICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.2.1 MARKET BY DEVICE
21.2.2 MARKET BY ACUITY LEVEL
21.2.3 MARKET BY PATIENT GROUP
21.2.4 MARKET BY END-USER
21.3 KEY COUNTRIES
21.3.1 BRAZIL: MARKET SIZE & FORECAST
21.3.2 MEXICO: MARKET SIZE & FORECAST
21.3.3 ARGENTINA: MARKET SIZE & FORECAST
22 MIDDLE EAST & AFRICA
22.1 MARKET OVERVIEW
22.2 MARKET SIZE & FORECAST
22.2.1 MARKET BY DEVICE
22.2.2 MARKET BY ACUITY LEVEL
22.2.3 MARKET BY PATIENT GROUP
22.2.4 MARKET BY END-USER
22.3 KEY COUNTRIES
22.3.1 TURKEY: MARKET SIZE & FORECAST
22.3.2 SAUDI ARABIA: MARKET SIZE & FORECAST
22.3.3 SOUTH AFRICA: MARKET SIZE & FORECAST
23 COMPETITIVE LANDSCAPE
23.1 COMPETITION OVERVIEW
23.1.1 VENDOR ACTIVITIES: M&AS AND PRODUCT LAUNCHES
23.2 MARKET SHARE ANALYSIS
23.2.1 BAXTER
23.2.2 CONTEC MEDICAL SYSTEMS
23.2.3 GE HEALTHCARE
23.2.4 PHILIPS
23.2.5 MASIMO
23.2.6 MEDTRONIC
23.2.7 NIHON KOHDEN
23.2.8 OSI SYSTEMS
23.2.9 SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS
24 KEY COMPANY PROFILES
24.1 BAXTER
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.1.3 KEY STRATEGIES
24.1.4 KEY STRENGTHS
24.1.5 KEY OPPORTUNITIES
24.2 CONTEC MEDICAL SYSTEMS
24.3 GE HEALTHCARE
24.4 PHILIPS
24.5 MASIMO
24.6 MEDTRONIC
24.7 NIHON KOHDEN
24.8 OSI SYSTEMS
24.9 SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS
25 OTHER PROMINENT VENDORS
25.1 ADVANCED INSTRUMENTATIONS
25.1.1 BUSINESS OVERVIEW
25.1.2 PRODUCT OFFERINGS
25.2 AMERICAN DIAGNOSTIC
25.3 DRÄGERWERK
25.4 EDAN INSTRUMENTS
25.5 EPSIMED
25.6 FUKUDA DENSHI
25.7 HALMA
25.8 ICU MEDICAL
25.9 INFINIUM MEDICAL
25.10 LUTECH
25.11 MEDIANA
25.12 MEDION
25.13 MENNEN MEDICAL
25.14 NONIN
25.15 OMRON
25.16 OPTO CIRCUITS (INDIA)
25.17 SCHILLER
25.18 SKANRAY TECHNOLOGIES
25.19 VIATOM TECHNOLOGY
25.2 VYAIRE MEDICAL
26 REPORT SUMMARY
26.1 KEY TAKEAWAYS
26.2 STRATEGIC RECOMMENDATIONS
27 QUANTITATIVE SUMMARY
27.1 MARKET BY GEOGRAPHY
27.2 MARKET BY DEVICE
27.2.1 NORTH AMERICA - MARKET BY DEVICE
27.2.2 EUROPE - MARKET BY DEVICE
27.2.3 APAC - MARKET BY DEVICE
27.2.4 LATIN AMERICA - MARKET BY DEVICE
27.2.5 MIDDLE EAST & AFRICA - MARKET BY DEVICE
27.3 MARKET BY ACUITY LEVEL
27.3.1 NORTH AMERICA - MARKET BY ACUITY LEVEL
27.3.2 EUROPE - MARKET BY ACUITY LEVEL
27.3.3 APAC - MARKET BY ACUITY LEVEL
27.3.4 LATIN AMERICA - MARKET BY ACUITY LEVEL
27.3.5 MIDDLE EAST & AFRICA - MARKET BY ACUITY LEVEL
27.4 MARKET BY PATIENT GROUP
27.4.1 NORTH AMERICA - MARKET BY PATIENT GROUP
27.4.2 EUROPE - MARKET BY PATIENT GROUP
27.4.3 APAC - MARKET BY PATIENT GROUP
27.4.4 LATIN AMERICA - MARKET BY PATIENT GROUP
27.4.5 MIDDLE EAST & AFRICA - MARKET BY PATIENT GROUP
27.5 MARKET BY END-USER
27.5.1 NORTH AMERICA - MARKET BY END-USER
27.5.2 EUROPE - MARKET BY END-USER
27.5.3 APAC - MARKET BY END-USER
27.5.4 LATIN AMERICA - MARKET BY END-USER
27.5.5 MIDDLE EAST & AFRICA - MARKET BY END-USER
28 APPENDIX
28.1 ABBREVIATIONS
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