How Multiparameter Patient Monitoring Market Size Growing Rapidly...? Medion Healthcare Pvt. Ltd., Medtronic, Mindray, OSI Systems, Philips Healthcare SL, Skanray Technologies

Multiparameter Patient Monitoring Market size was valued at USD 8.7 billion in 2018 and is expected to witness 3.9% CAGR from 2019 to 2025. The overall multiparameter patient monitoring market has been gaining increasing impetus mainly due to the ever-expanding global geriatric population, the increasing incidence of chronic diseases and the impressive pace of technological advancements recorded in the medical equipment sector. Multiparameter patient monitoring systems are an indispensable part of the healthcare fraternity as healthcare professionals cannot be continually present with a patient even in the most highly staffed hospitals.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Medion Healthcare Pvt. Ltd.
2. Medtronic
3. Mindray
4. OSI Systems
5. Philips Healthcare SL
6. Skanray Technologies.
7. Champion PetFoods
8. Spacehealth Labs
9. VOTEM
10. Opto India

Various electronic monitoring equipment play the part of patient monitoring when the patients are not under the direct supervision of a doctor or nurse and various health parameters such as body temperature, electrical activity of the heart, blood pressure, cardiac output, respiration rate and amount of oxygen and carbon dioxide in the blood are measured by these devices.

With technological advancements these equipment are becoming more potent like becoming wireless and portable and multiparameter patient monitoring market participants are increasingly vying with each other to maintain a competitive edge in the industry.

Some of the major players in the multiparameter patient monitoring industry such as Medtronics, Philips Healthcare, Epsimed, Mediana, KizlonMedical, Medion Healthcare, Skanray Technologies, Masimo, Opto India, OSI Systems etc. have been contributing towards the growth of the market with designing more sleek, easy to operate machines.

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Beside the requirement of biomedical staff who want straightforward use of the basic features without confusion, evolving regulatory requirements have also fueled investment and need for technological innovation in multiparameter patient monitoring as superior detection of patient status deterioration with fully integrated interventions has become compulsory for reduction of morbidities and mortalities.
The device manufacturers are not only required to ensure easy operability of monitoring systems in clinical use scenarios, but also for patients who would be using such systems at home. Manufacturers must also keep abreast of ever-changing requirements for medical devices from regulatory agencies and must ensure compliance with quality standards for product development and manufacturing. The regulatory frame of reference established at a global level is anticipated to add greater stimulus to the multiparameter patient monitoring industry growth.
Regionally, China is a major market for multiparameter patient monitoring industry. As per estimates, China multiparameter patient monitoring market size is anticipated to register a CAGR of 4.8% over 2019-2025, driven by the expansive prevalence of cardiovascular diseases that is expected to rise further in the ensuing years. Aided by the rising occurrence of cardiovascular diseases and the increasing healthcare expenditure in the region, China multiparameter patient monitoring industry share will proliferate over 2019-2025.

With hospitals and other medical institutions drawing positive results from the use of such devices, it is predictable that device manufacturers with innovative, progressive device designs will garner greater interest as well as investments in the years ahead. As competition in the multiparameter patient monitoring market becomes stronger by the day, the industry is expected to register robust growth trends over 2019-2025.

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