Global Multi-Parameter Patient Monitor Market 2009-2013

The market for Multi-Parameter Patient Monitor is witnessing introduction of innovative monitoring devices such as sophisticated algorithms, remote alarm management solutions, ease of use, etc. The developments in multi-parameter monitor is focused on offering intuitive user interface and enhancing the interoperability within the various departments in a hospital to manage informatics more efficiently.

The increased focus on R&D has introduced multi-parameter monitoring devices with advanced measuring capabilities; offering cost-effective solutions. For instance, various parameters such as depth analysis of anesthesia, invasive blood pressure, spirometer, and cardiac output are being incorporated into the monitoring devices. Additionally, there has been an integration of remote-control functionality and alarm management functions into these monitoring devices. Further, monitor with intuitive touchscreen with clear display, and one-touch command are being introduced to enable ease of use.

The instantaneous information provided by multi-parameter monitoring devices have proven to be very effective in critical care units, intensive care units, and emergency rooms. A wide range of monitoring parameters, swift and hassle-free access to clinical information, graphical representation giving a comprehensive picture of patient status, etc. are some of the benefits reaped from multi-parameter patient monitors by the healthcare organizations. Further, the advent of digital and wireless technology (multi-parameter patient monitors enables remote management of the critically ill patients at the bedside, during transport and at the point-of-care.

Despite the benefits attached to the multi-parameter patient monitor, the market faces a lot of challenges. The rising healthcare costs continues to be a major concern of the Healthcare industry. Further, challenge such as limited or reduced reimbursement continues to hinder the market growth. However, the increased awareness, critically ill population coupled with aging population (who require frequent monitoring of health) offer potential growth opportunity to the Multi-Parameter Patient Monitor market.

This report by Technavio Insights highlights the scope of the Global Multi-Parameter Patient Monitor market over the period 2009-2013, along with trends, drivers, growth inhibitors and a few major vendors in the market.