Multi-Parameter Patient Monitoring Equipment Market 2024 - Business Revenue, Trends, Top Key Players, Future Opportunities, Industry Share And Forecast To 2033

The multi-parameter patient monitoring equipment market size has grown strongly in recent years. It will grow from $8.83 billion in 2023 to $9.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to rise in chronic diseases, aging population, patient safety concerns, hospital and healthcare facility expansion, focus on early disease detection, consumer awareness and demand..

The multi-parameter patient monitoring equipment market size is expected to see strong growth in the next few years. It will grow to $12.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to telemedicine expansion, focus on home healthcare, global health crises preparedness, focus on preventive healthcare, connected health ecosystem, global events and public health initiatives.. Major trends in the forecast period include integration of wireless technologies, telehealth and remote patient monitoring, digital health platforms, smart alarms and alerts, artificial intelligence (ai) and machine learning (ml), interoperability standards..

Market Overview -
Multi-parameter patient monitoring equipment refers to equipment that displays a variety of information sets on a single screen by accessing the vital signs of patients to help the patient comprehend her status.

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Rising Incidence Of Chronic Illnesses Drives Surge In Multi-Parameter Patient Monitoring Equipment Market
The increasing incidence of chronic illnesses is expected to propel the growth of the multi-parameter patient monitoring equipment market going forward. Chronic diseases refer to a disease that requires more medical attention. Multi parameter patient monitoring equipment is helpful for chronic patients to assess vital signs such as respiration rate, electrocardiograph, and blood pressure of chronic disease patients. For instance, in July 2022, the Centers for Disease Control and Prevention, a US-based national public health agency, defines that every 6 out of 10 US have chronic diseases and four out of the ten adults are suffering from more than two chronic diseases such as chronic lung cancer, heart disease, stroke, diabetes. Additionally, according to United Nations, by 2030, chronic diseases is expected to cause around 70% of all deaths and nearly 56% of diseases worldwide. Therefore, the increasing incidence of chronic illnesses is driving the growth of the multi-parameter patient monitoring equipment market.

Competitive Landscape -
Major companies operating in the multi-parameter patient monitoring equipment market report are Philips Healthcare, GE Healthcare Technologies Inc., Drägerwerk AG & Co. KGaA, Nihon Kohden Corporation, Schiller AG, Bosch Medical Solutions GmbH, AMD Global Telemedicine Inc., Mindray DS USA Inc., Boston Scientific Corporation, Abbott Laboratories, Spacelabs Healthcare, CAS Medical Systems Inc., Contec Medical Systems Co Ltd., Guangdong Biolight Meditech Company Limited, Baxter International Inc., Natus Medical Incorporated, CR Bard Inc., Masimo, Becton Dickinson and Company, Medtronic PLC, OSI System, Bio Medical Electronics, Koninklijke Philips NV, General Electric Company, Messe D - sseldorf GmbH, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Omron Healthcare Inc., Hill-Rom Holdings Inc., Edwards Lifesciences Corporation, Smiths Medical, ZOLL Medical Corporation .

Mindray Launches Mwear System Redefining Patient Monitoring With Advanced Technologies
Technological advancements are a key trend gaining popularity in the multi-parameter patient monitoring equipment market. Major companies operating in the multi-parameter patient monitoring equipment market are developing innovative technologies to strengthen their position in the market. For instance, in December 2022, Mindray, a China-based company operating in multi-parameter patient monitoring equipment, launched a new wearable patient monitoring solution mWear system. The unique features of the mWear system include precise measures of patient status, with its wireless monitoring technologies incorporating 6 essential vital signs powered by the Anti-Motion Algorithm, specialized health parameters, status indicators, and time analysis. It has been designed to continuously monitor patient conditions.

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Key Segments -
The multi-parameter patient monitoring equipment market covered in this report is segmented -
1) By Product Type: High-Acuity Monitors, Critical Care Monitors, Magnetic Resonance Imaging (MRI) Compatible Monitors, Perioperative Monitor, Mid-Acuity Monitors, Low-Acuity Monitors
2) By Application: Cardiology, Neurology, Respiratory, Fetal And Neonatal, Other Applications
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centres, Home Healthcare

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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