Multiparameter Patient Monitoring Market

Global Multiparameter Patient Monitoring Market Size, Trends & Analysis - Forecasts to 2026 By Device (Fixed, Portable), By Acuity Level (High-Acuity, Mid Acuity, Low Acuity), By End-Use (Hospitals, Homecare Settings, Ambulatory Surgical Centers), By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Company Market Share Analysis & Competitor Analysis

Category Healthcare
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This report was recently updated on May 9 2022 with the latest and most recent market numbers

Global Multiparameter Patient Monitoring Market Size

The global multiparameter patient monitoring market will grow from USD 10.2 billion in 2021 to reach USD 18.5 billion by 2026 at a CAGR of 6.4%.

The global multiparameter patient monitoring market share is likely to be driven by the growing demand for real-time patient monitors in intensive care units, growing incidence of chronic diseases, and rising demand for home-based monitoring devices. Multiparameter patient monitors are commonly used to improve healthcare quality in both in-patient wards and Intensive Care Units (ICUs). Monitoring is a key component of severely ill patients, mainly in emergency rooms. Thus, the demand for such advanced patient monitoring systems is increasing globally.

The growing demand for hospital monitoring equipment & multiparameter monitor, along with the rising number of patients and increasing product development expenditures, are some of the factors driving the market growth during the forecast period. Increased strategic collaboration and stringent medical device approval process are the two vital factors propelling the market growth.

Such developments allow for the instant recording and transmission of data from a patient's gadget to a healthcare practitioner, reducing the time required for evaluation and treatment. The growing demand for such home-based medical treatments for the elderly population is increasing the use of portable patient monitor devices, propelling multiparameter patient monitoring systems market growth during the forecast period.

The use of multiparameter monitors in the surveillance of critically ill patients allows for the measurements of physiological reserves as well as the effectiveness of therapeutic measures. The advancements in wearable devices and wireless communication technology for medical telemetry have expanded the scope of monitoring solutions available to patients within hospital and in-home care settings. As per the World Health Organization, approximately 20 million new cases of cancer were diagnosed worldwide in 2020. As a result, it is likely to boost the overall market expansion.

Multi-parameter monitors are devices that measure different variables simultaneously, such as arterial blood pressure, body and skin temperature, capnography, oximetry, and heart rate. Since they are user-friendly, compact, and portable, these devices have gained popularity in global markets.

The demand for advanced medical supplies is escalating in order to provide efficacious care to the core populace. Respiratory support equipment, such as an atomizer, a life-support machine, an oxygen generator, and a monitor, are among the most commonly used medical devices in primary clinical care. Furthermore, COVID-19 has resulted in a significant increase in demand for medical goods such as personal protective equipment including masks, protective eyeglasses, and gloves. As a result of these factors, COVID-19 is expected to have a substantial impact on the market.

global multiparameter patient monitoring market

Global Multiparameter Patient Monitoring Market: By Device

Depending on the device, the market is segmented into fixed and portable. The portable segment is expected to grow at the highest CAGR rate during the forecast period 2021-2026. Increasing home healthcare, the expansion of ambulatory care facilities, the expanding convenience of monitoring post-surgical recovery patients, and the increasing acceptance of remote patient monitoring are some of the primary drivers accelerating the segment growth during the forecast period. Portable multiparameter patient monitors have become more important in providing high-quality treatment to patients.

Global Multiparameter Patient Monitoring Market: By Acuity Level

Based on the acuity level, the market is segregated into high-acuity, mid acuity, and low acuity. The high acuity level segment is expected to capture the lion’s share of the market during the forecast period. High acuity patients with major health issues or life-threatening illnesses require round-the-clock monitoring, as well as early diagnosis and maximum accuracy. High acuity multiparameter patient monitors utilize advanced technology to measure multiple parameters at once, which boosts their demand. Furthermore, technical developments and the increasing use of high-acuity medical technology in hospitals to properly evaluate patient vitals will influence market share.

Global Multiparameter Patient Monitoring Market: By End-Use

Depending on the end-use, the market is segmented into hospitals, homecare settings, and ambulatory surgical centers. The home healthcare settings are expected to grow at the highest CAGR rate during the forecast period. It is due to the increasing demand for home care monitoring equipment. Also, due to the increasing elderly population, there is significant growth for delivery and portability of medicare at home, which is boosting the market growth.

Furthermore, the hospitals' segment is expected to capture the largest market share in terms of revenue throughout the forecast period. The segment will maintain its dominance during the forecast period owing to an increase in the number of people admitted to hospitals due to injuries, chronic diseases, and other emergencies. In addition, the growing demand for adequate patient management and care, along with the presence of trained healthcare practitioners in hospitals, will support industry advancement.

asia pacific multiparameter patient monitoring market

Global Multiparameter Patient Monitoring Market: By Region

Based on region, the market can be segregated into various regions such as North America, Europe, Central & South America, Middle East & North Africa, and Asia Pacific regions. The North American region is expected to hold a substantial share of the market during the forecast period followed by the European region.

North American region predominance is ascribed to the increasing investments in the research & development activities and the burgeoning number of trials being conducted & outsourced in the region. For an instance, the US government invested USD 197.2 billion in medical and health R&D in 2020. Furthermore, rising demand for effective therapies for the management of chronic illnesses, as well as increased spending on healthcare services, boosts the market for such patient monitoring equipment. Also, increased spending on healthcare in emerging markets, the elderly population, and increasing chronic illness are some of the factors boosting the Philips patient monitoring market share.

Due to the increasing advancements in the healthcare infrastructure, and rising disposable income, Asia Pacific is expected to grow at the highest CAGR rate during the forecast period. The favorable government policies, increasing demand for remote patient monitoring, increasing patient population, and rising healthcare expenses in the region are driving the regional market growth. China is the world's leading manufacturer of low-cost electronic chips and products, which is expected to attract investors and contribute to market growth.

Global Multiparameter Patient Monitoring Market Share and Competitor Analysis

Nihon Kohden, Hillrom, Medion Healthcare, Medtronic PLC, Mindray, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, GE Healthcare, and Drager, among others are some of the leading multiparameter patient monitoring companies.

Please note: This is not an exhaustive list of companies profiled in the report.

In September 2020, GE Healthcare introduced its new solution Mural remote patient monitoring solution. This innovation expanded the firm's product offering, accelerating industry demand. Moreover, GE blood pressure monitors are increasingly used from ambulatory patients to the most critical cases.

In December 2019, Nihon Kohden Corporation introduced its new product Life Scope SVM-7200 series vital sign monitors for outpatient facilities in the United States.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview and Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1    Multiparameter Patient Monitoring Industry Overview, 2020-2026

2.1.1   Industry Overview

2.1.2   End-Use Overview

2.1.3   Acuity Level Overview

2.1.4   Device Overview

2.1.5    Regional Overview

Chapter 3   Global Multiparameter Patient Monitoring Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2020-2026

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1    Rising demand for real-time patient monitors in ICUs

3.3.1.2    Increasing incidence of chronic diseases

3.3.2    Industry Challenges

3.3.2.1    Lack of skilled healthcare professionals

3.4    Prospective Growth Scenario

3.4.1   End-Use Growth Scenario

3.4.2   Acuity Level Growth Scenario

3.4.3   Device Growth Scenario

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    Technology Overview

3.11    Market Share Analysis, 2020

3.11.1    Company Positioning Overview, 2020

Chapter 4 Global Multiparameter Patient Monitoring Market, By End-Use

4.1    End-Use Outlook

4.2    Hospitals

4.2.1    Market Size, By Region, 2020-2026 (USD Billion)

4.3   Ambulatory Surgical Centers

4.3.1    Market Size, By Region, 2020-2026 (USD Billion)

4.4    Homecare Settings

4.4.1    Market Size, By Region, 2020-2026 (USD Billion)

Chapter 5 Global Multiparameter Patient Monitoring Market, By Acuity Level

5.1    Acuity Level Outlook

5.2     Low-Acuity Level

5.2.1    Market Size, By Region, 2020-2026 (USD Billion)

5.3     Mid-Acuity Level

5.3.1    Market Size, By Region, 2020-2026 (USD Billion)

5.4     High-Acuity Level

5.4.1    Market Size, By Region, 2020-2026 (USD Billion)

Chapter 6   Multiparameter Patient Monitoring Market, By Device

6.1    Device Outlook

6.2    Fixed

6.2.1    Market Size, By Region, 2020-2026 (USD Billion)

6.3    Portable

6.3.1    Market Size, By Region, 2020-2026 (USD Billion)

Chapter 7 Multiparameter Patient Monitoring Market, By Region

7.1    Regional outlook

7.2    North America

7.2.1    Market Size, By Country 2020-2026 (USD Billion)

7.2.2    Market Size, By End-Use, 2020-2026 (USD Billion)

7.2.3    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.2.4    Market Size, By Device, 2020-2026 (USD Billion)

7.2.5    U.S.

7.2.5.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.2.5.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.2.5.3   Market Size, By Device, 2020-2026 (USD Billion)

7.2.6    Canada

7.2.6.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.2.6.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.2.6.3    Market Size, By Device, 2020-2026 (USD Billion)

7.3    Europe

7.3.1    Market Size, By Country 2020-2026 (USD Billion)

7.3.2    Market Size, By End-Use, 2020-2026 (USD Billion)

7.3.3    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.3.4    Market Size, By Device, 2020-2026 (USD Billion)

7.3.5    Germany

7.3.5.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.3.5.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.3.5.3    Market Size, By Device, 2020-2026 (USD Billion)

7.3.6    UK

7.3.6.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.3.6.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.3.6.3     Market Size, By Device, 2020-2026 (USD Billion)

7.3.7   France

7.3.7.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.3.7.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.3.7.3    Market Size, By Device, 2020-2026 (USD Billion)

7.3.8    Italy

7.3.8.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.3.8.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.3.8.3     Market Size, By Device, 2020-2026 (USD Billion)

7.3.9    Spain

7.3.9.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.3.9.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.3.9.3    Market Size, By Device, 2020-2026 (USD Billion)

7.3.10   Russia

7.3.10.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.3.10.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.3.10.3    Market Size, By Device, 2020-2026 (USD Billion)

7.4    Asia Pacific

7.4.1    Market Size, By Country,2020-2026 (USD Billion)

7.4.2    Market Size, By End-Use, 2020-2026 (USD Billion)

7.4.3    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.4.4    Market Size, By Device, 2020-2026 (USD Billion)

7.4.5    China

7.4.5.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.4.5.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.4.5.3    Market Size, By Device, 2020-2026 (USD Billion)

7.4.6    India

7.4.6.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.4.6.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.4.6.3    Market Size, By Device, 2020-2026 (USD Billion)

7.4.7    Japan

7.4.7.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.4.7.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.4.7.3    Market Size, By Device, 2020-2026 (USD Billion)

7.4.8    Australia

7.4.8.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.4.8.2    Market size, By Acuity Level, 2020-2026 (USD Billion)

7.4.8.3    Market Size, By Device, 2020-2026 (USD Billion)

7.4.9    South Korea

7.4.9.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.4.9.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.4.9.3    Market Size, By Device, 2020-2026 (USD Billion)

7.6.5    Latin America

7.5.1    Market Size, By Country 2020-2026 (USD Billion)

7.5.2    Market Size, By End-Use, 2020-2026 (USD Billion)

7.5.3    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.5.4    Market Size, By Device, 2020-2026 (USD Billion)

7.5.5    Brazil

7.5.5.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.5.5.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.5.5.3    Market Size, By Device, 2020-2026 (USD Billion)

7.5.6    Mexico

7.5.6.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.5.6.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.5.6.3    Market Size, By Device, 2020-2026 (USD Billion)

7.5.7   Argentina

7.5.7.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.5.7.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.5.7.3     Market Size, By Device, 2020-2026 (USD Billion)

7.6    MEA

7.6.1    Market Size, By Country 2020-2026 (USD Billion)

7.6.2    Market Size, By End-Use, 2020-2026 (USD Billion)

7.6.3    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.6.4    Market Size, By Device, 2020-2026 (USD Billion)

7.6.5    Saudi Arabia

7.6.5.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.6.5.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.6.5.3    Market Size, By Device, 2020-2026 (USD Billion)

7.6.6    UAE

7.6.6.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.6.6.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.6.6.3    Market Size, By Device, 2020-2026 (USD Billion)

7.6.7    South Africa

7.6.7.1    Market Size, By End-Use, 2020-2026 (USD Billion)

7.6.7.2    Market Size, By Acuity Level, 2020-2026 (USD Billion)

7.6.7.3    Market Size, By Device, 2020-2026 (USD Billion)

Chapter 8   Company Landscape

8.1    Competitive Analysis, 2020

8.2    Nihon Kohden

8.2.1    Company Overview

8.2.2    Financial Analysis

8.2.3    Strategic Positioning

8.2.4    Info-Graphic Analysis

8.3    Hillrom

8.3.1    Company Overview

8.3.2    Financial Analysis

8.3.3    Strategic Positioning

8.3.4    Info-Graphic Analysis

8.4    Medion Healthcare

8.4.1    Company Overview

8.4.2    Financial Analysis

8.4.3    Strategic Positioning

8.4.4    Info-Graphic Analysis

8.5    Medtronic PLC

8.5.1    Company Overview

8.5.2    Financial Analysis

8.5.3    Strategic Positioning

8.5.4    Info-Graphic Analysis

8.6   Mindray

8.6.1    Company Overview

8.6.2    Financial Analysis

8.6.3    Strategic Positioning

8.6.4    Info-Graphic Analysis

8.7     GE Healthcare

8.7.1    Company Overview

8.7.2    Financial Analysis

8.7.3    Strategic Positioning

8.7.4    Info-Graphic Analysis

8.8    Philips Healthcare

8.8.1    Company Overview

8.8.2    Financial Analysis

8.8.3    Strategic Positioning

8.8.4    Info-Graphic Analysis

8.9   Skanray Technologies

8.9.1    Company Overview

8.9.2    Financial Analysis

8.9.3    Strategic Positioning

8.9.4    Info-Graphic Analysis

8.10     OSI Systems

8.10.1    Company Overview

8.10.2    Financial Analysis

8.10.3    Strategic Positioning

8.10.4    Info-Graphic Analysis

8.11    Drager

8.11.1    Company Overview

8.11.2    Financial Analysis

8.11.3    Strategic Positioning

8.11.4    Info-Graphic Analysis

8.12    Other Companies

8.12.1    Company Overview

8.12.2    Financial Analysis

8.12.3    Strategic Positioning

8.12.4    Info-Graphic Analysis

The Global Multiparameter Patient Monitoring Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Multiparameter Patient Monitoring Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global multiparameter patient monitoring market will grow from USD 10.2 billion in 2021 to reach USD 18.5 billion in 2026, with a CAGR of 6.4%.
Key and innovative vendors in the multiparameter patient monitoring market include Nihon Kohden, Hillrom, Medion Healthcare, Medtronic PLC, Mindray, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, GE Healthcare, and Drager, among others.
The North American region is estimated to hold the largest market share in the multiparameter patient monitoring market.
COVID-19 has resulted in a significant increase in demand for medical goods such as personal protective equipment such as masks, protective eyeglasses, and gloves. As a result of these factors, COVID 19 is expected to have a substantial impact on the multiparameter patient monitoring market.
The major driving factors for the multiparameter patient monitoring market include the increasing occurrence of cancer cases globally, the growing demand for hospital monitoring equipment and multiparameter monitor, rising product development expenditures, rising demand for home-based monitoring devices, and increasing investments in R&D activities.

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