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Multi-parameter Patient Monitoring Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4591341
  • Report
  • 116 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Abbott Laboratories
  • AMD Global Telemedicine
  • Baxter International Inc.
  • Bosch Medical
  • GE Healthcare
  • Koninklijke Philips NV
  • MORE
Market Overview

The multi-parameter patient monitoring market is expected to register a CAGR of 5% during the forecast period, 2019-2024. Unprecedented in human history, there has been a rapid growth of the aging population in the 21st century, resulting from declining mortality, and most importantly, from declining fertility. The phenomenon has led to a comparative decline in the proportion of children and an increase in working as well as the elderly population. Population aging has major social and economic significances. Currently, about two-thirds of the world’s elderly population live in developing countries. The increase in the aging population directly contributes to the growth of these devices. The aged patients who are unable to reach out to hospitals propel the demand for multi-parameter patient monitoring devices and services. Hence, the market for remote patient monitoring, wireless devices, and homecare healthcare services provided with the help of connectivity, like Wi-Fi and cloud, is growing day by day. Other factors, such as the rising incidences of chronic diseases due to lifestyle changes, need to contain healthcare expenditure, demand for home-based monitoring devices, and ease of use and portability of devices are also driving the growth of the multi-parameter patient monitoring market.

Scope of the Report

Multi-parameter monitors are devices that monitor various parameters, such as arterial blood pressure, heart rate, body and skin temperature, oximetry, and capnography, with a single device. These devices have become popular as they are small, portable, and user-friendly. Periodic reports and immediate alerts for any sudden changes in the health of sick patients may give people an opportunity to act quickly and save the life of the person in danger. Even from a personal health monitoring perspective, the ability to relay the collected health information to a doctor or a hospital for advanced or emergency assessment is a great asset to people.

Key Market Trends

Portable Multi-parameter Patient Monitors Hold the Largest Market Share

The rising awareness regarding healthcare and increasing concern for the constant monitoring of health parameters of patients, pre-and post-surgery, is expected to drive the growth of the overall market. Multi-parameter monitors are of two major types: portable and fixed; of which, the portable monitors are expected to dominate the market over the forecast period, owing to factors, such as growing home healthcare, ease of monitoring post-surgical recovery patients, rising ambulatory care facilities, and increasing adoption of remote patient monitoring. In addition, the competition among the major market players is on the rise, owing to growing technological advancements. Hence, the portable monitor's segment is expected to retain its dominance over the forecast period.

North America Dominates the Overall Multi-parameter Patient Monitoring Market

North America dominated the overall multi-parameter monitoring market and the region is expected to retain its dominance over the forecast period as well. In 2017, the multi-parameter patient monitoring market in the United States held the largest market share in the North American region, due to the high quality of healthcare system and modern medical technology in the country. Additionally, the presence of a high percentage of the elderly population in the region is also likely to contribute to the growth of the multi-parameter patient monitoring market.

Competitive Landscape

The presence of major market players, such as Abbott Laboratories, Becton Dickinson and Company, GE Healthcare, Medtronic, and Philips Healthcare, among others, is intensifying the market competition. Innovations and increasing investments from various public and private organizations are expected to intensify the industry rivalry, across the globe.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Abbott Laboratories
  • AMD Global Telemedicine
  • Baxter International Inc.
  • Bosch Medical
  • GE Healthcare
  • Koninklijke Philips NV
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes
4.2.2 Increase in Aging Population
4.2.3 Need to Contain Healthcare Expenditure
4.2.4 Demand for Home-based Monitoring Devices
4.2.5 Ease of Use and Portability of Devices
4.3 Market Restraints
4.3.1 Resistance from the Healthcare Industry Professionals toward the Adoption of Patient Monitoring Systems
4.3.2 Stringent Regulatory Framework
4.3.3 Lack of Proper Reimbursement
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Portable
5.1.2 Fixed
5.2 By Acuity Level
5.2.1 High Acuity Level
5.2.2 Medium Acuity Level
5.2.3 Low Acuity Level
5.3 By Target Area
5.3.1 Cardiology
5.3.2 Neurology
5.3.3 Respiratory
5.3.4 Fetal and Neonatal
5.3.5 Weight Monitoring
5.3.6 Temperature Monitoring
5.3.7 Remote Monitoring
5.3.8 Other Target Areas
5.4 By End Users
5.4.1 Hospitals
5.4.2 Home Healthcare
5.5 Geography
5.5.1 North America
5.5.1.1 US
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 UK
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Spain
5.5.2.6 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 South Korea
5.5.3.6 Rest of Asia-Pacific
5.5.4 Middle East & Africa
5.5.4.1 GCC
5.5.4.2 South Africa
5.5.4.3 Rest of Middle East & Africa
5.5.5 South America
5.5.5.1 Brazil
5.5.5.2 Argentina
5.5.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 AMD Global Telemedicine
6.1.3 Baxter International Inc.
6.1.4 Becton, Dickinson and Company
6.1.5 Bosch Medical
6.1.6 Boston Scientific Corporation
6.1.7 GE Healthcare
6.1.8 Medtronic PLC
6.1.9 Koninklijke Philips NV

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Abbott Laboratories
  • AMD Global Telemedicine
  • Baxter International Inc.
  • Becton, Dickinson and Company
  • Bosch Medical
  • Boston Scientific Corporation
  • GE Healthcare
  • Medtronic PLC
  • Koninklijke Philips NV
Note: Product cover images may vary from those shown
5 of 5
Note: Product cover images may vary from those shown
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