Global Multi-Parameter Patient Monitoring Equipment Market 2016-2020
About Multiparameter Patient Monitoring Equipment
Multiparameter patient monitoring equipment includes a core monitor box with slots in which separate units for several parameters can be fitted, and readings can be taken. Multiparameter patient monitoring equipment monitor an individual’s health and helps medical professionals to decide on the treatment required as well as track the progress of a disease during treatment. Multiparameter patient monitoring is especially effective in the management of chronic diseases and post-acute care. The multiparameter remote monitoring devices are used by medical professionals in hospitals as well as by individual users at home.
Technavio’s analysts forecast the global multiparameter patient monitoring equipment market to grow at a CAGR of 4.77% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global multiparameter patient monitoring equipment market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of multiparameter patient monitoring equipment to hospitals, ambulatory care centers, and home healthcare.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Multiparameter Patient Monitoring Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the global multiparameter patient monitoring equipment market: CAS Medical Systems, GE Healthcare, Mindray Medical International, Philips Healthcare, and Spacelabs Healthcare.
Other Prominent Vendors in the market are: CareTaker Medical, Contec Medical Systems, Corsens Medical, Drägerwerk, EarlySense, Edwards Lifesciences, Guangdong Biolight Meditech, InfoBionic, Lifebridge Health, Masimo, Mennen Medical, Mortara Instrument, Omron Healthcare, Respirtech, Schiller, and Xhale.
Commenting on the report, an analyst from Technavio’s team said: “Emergence of advanced multiparameter patient monitoring equipment will be a key trend for market growth. The market has been witnessing a growing adoption of multiparameter patient monitoring equipment for emerging applications such as neonatal care and pediatrics. For instance, according to the American Thoracic Society, the prevalence of respiratory disorders is more in pediatrics. Also, the traditional multiparameter patient monitoring systems have limited use in neonatal care owing to the complexities in the procedure. Current methods use sensors on the skin or devices strapped to the body for the measurement of SpO2, respiratory rate, and other vital signs.”
According to the report, one of the key drivers for market growth will be increase in demand for home care monitoring equipment. To measure the chronic conditions, most people prefer digital, portable, and easy-to-use multiparameter patient monitoring that can be used at home. The focus on quality care and disease management will lead to an increase in adoption of portable, self-care, multiparameter patient monitoring devices, especially in developed countries. For instance, individuals with low/high blood pressure can take better care of themselves at home. The demand for wireless multiparameter home care monitoring is likely to propel the growth of the market during the forecast period.
Further, the report states that the multiparameter patient monitoring equipment includes the transfer of individual's health data to healthcare providers, which could be a challenge for the market. The implications of giving up the individual's health data are enormous. They can share a large amount of data associated with personal health and fitness to an unquantifiable audience. Since these devices store a significant amount of sensitive information, it can cause a disruption in work for users. Further, the devices used in home healthcare use Global Positioning System (GPS) navigation to retrieve location-based information. In some instances, people have to share their location to obtain certain information.
CAS Medical Systems, GE Healthcare, Mindray Medical International, Philips Healthcare, Spacelabs Healthcare, CareTaker Medical, Contec Medical Systems, Corsens Medical, Drägerwerk, EarlySense, Edwards Lifesciences, Guangdong Biolight Meditech, InfoBionic, Lifebridge Health, Masimo, Mennen Medical, Mortara Instrument, Omron Healthcare, Respirtech, Schiller, Xhale.
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