The global Multiparameter Patient Monitoring Systems Market size is anticipated to reach USD 16.1 billion by 2028, expanding at a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Rising health concerns and resultant need to constantly monitor the health parameters of patients, before and after surgery is creating demand for multiparameter patient monitoring systems.
The market growth is also supported by the increasing
need for hospital transport, such as intrahospital or out-of-the-hospital
transport. For special examination and therapy, hospitals require intrahospital
transport, which calls for more continuous monitoring of vital signs including
heart rate, blood pressure, blood oxygen saturation by pulse oximetry, and
electrocardiography.
Healthcare providers are continually looking for
innovative products to provide superior quality of care, which is also expected
to drive the market. Mobile solutions, data integration low-acuity monitoring
remain key trends to improve the cost efficiency of patient monitoring
solutions. Key companies are introducing advanced products, such as integrated
remote monitoring solutions with added features of greater connectivity through
cloud technology and WiFi.
For instance, Radius-7 Pulse Co-Oximeters by Masimo
Corp., which got U.S. FDA approval in March 2020. It is a wearable patient
monitor with flexible functionality of WiFi, Bluetooth, and alarms.
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Multiparameter Patient Monitoring Systems Market Report
Highlights
- The
portable segment is anticipated to grow at the fastest CAGR of 6.1% from
2020 to 2027 due to growing home healthcare and easy mobility across
different departments within the hospital
- The
hospital end-use segment led the market in 2019 due to high demand for
modern healthcare facilities
- North
America held the maximum share of the global market in 2019 due to the
availability of technologically advanced equipment and high quality of
healthcare system
- Asia
Pacific is estimated to be the fastest-growing regional market during the
forecast years due to increasing awareness about technologically advanced
monitoring systems
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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