The global multiparameter patient monitoring equipment market is expected to post a CAGR of over 4% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global multiparameter patient monitoring equipment market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of global multiparameter patient monitoring equipment market is the rising demand for robust systems for continuous real-time patient monitoring. The demand for robust multiparameter patient monitoring equipment for continuous real-time patient monitoring is increasing significantly, as it enables a quick, real-time examination of several vital signs to understand a patient's health condition. Vendors are focusing on the development of patient monitoring equipment with telehealth solutions to provide remote monitoring access. This can help develop real-time patient monitoring equipment that can advance the need for patient care and drive the growth of the market.
This market research report on the global multiparameter patient monitoring equipment market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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Global multiparameter patient monitoring equipment market: Rise in demand for remote patient monitoring and telehealth
Owing to advantages such as ease in compliance tracking, improved healthcare access, improved patient comfort, and prevention of complications, the demand for remote patient monitoring equipment is increasing at an unprecedented rate. Other benefits of using remote patient monitoring equipment include early detection of deterioration that minimizes the number of emergency department visits. Therefore, the rise in demand for remote patient monitoring and telehealth will positively impact the growth of the global multiparameter patient monitoring equipment market.
“To meet the increasing demand for continuous patient monitoring in hospitals, ASCs, and home care settings, vendors are manufacturing multiparameter patient monitoring equipment that is more technologically advanced than conventional oscilloscopes and the analog-computer technology used earlier for bedside monitors. These advances will drive the multiparameter patient monitoring equipment market during the forecast period,” says a senior analyst at Technavio for research on patient monitoring devices.
Global multiparameter patient monitoring equipment market: Segmentation analysis
This market research report segments the global multiparameter patient monitoring equipment market by product (high-acuity monitors, mid-acuity monitors, and low-acuity monitors) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2017 with a market share of close to 50%, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2017, it is expected to register the highest incremental growth during the forecast period.
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Five Forces Analysis
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