Press release
Multiparameter Patient Monitoring System Market size is expected to reach $16.79 Bn by 2030, as per Maximize Market research
Multiparameter Patient Monitoring System Market
Multiparameter Patient Monitoring System Market Overview
Multiparameter Patient Monitoring System is an integral part of the medical world post pandemic. This allows the quick treatment and safe environment for the chronically ill as well as others in need.
Prevalence of chronic diseases, miniaturization of technology, real-time monitoring and rapid alerts for vital signs are important driving factors. The untapped market will provide an opportunity to the market players, to expand in wireless connectivity, artificial intelligence, and wearable devices. Also focus on preventative healthcare will increase demand of monitoring system, growing market further in the forecast period.
High cost of the Multiparameter Patient Monitoring System is an important restraint and challenge in the market. Limited reimbursement policies, regulatory issues, resistance to change, and the data privacy issues are some of the challenges present in the Multiparameter Patient Monitoring System industry.
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Multiparameter Patient Monitoring System Market regional analysis
North America dominates the Multiparameter Patient Monitoring System Market. The presence of key players, technological advancements, and well-established healthcare infrastructure are some of the driving factors. The high adoption of advanced medical technologies, along with prevalence of chronic diseases are contributing to regions growth.
Europe holds a significant share with, advanced healthcare systems and supportive government initiatives. Nations like Germany, the Netherlands, and the United Kingdom are leading the market.
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Multiparameter Patient Monitoring System Market trends
Multiparameter Patient Monitoring System devices have become sophisticated. The devices are in high demand post COVID19, since use of remote patient monitoring has increased. Along with finding health issues early for a quick treatment, the technology also reduces virus spread. The adoption of wireless and IoT technology allows for seamless data transmission and real-time monitoring.
Wearable and home-based devices are prioritizing patient comfort and user experience, making them popular. Integration with the e-health records have streamlined the documentation. The FDA approved BioButton® in February 2024, boosting wearable device use. Companies like Philips and Masimo are partnering to create new monitoring solutions. BioIntelliSense bought AlertWatch® in October 2022, showing market growth. Continuous patient monitoring is expanding and could improve health outcomes while lowering costs.
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Recent News about Multiparameter Patient Monitoring System
2/10/2024 BioIntelliSense Announces FDA Clearance of the BioButton® Multi-Patient Wearable and BioDashboard™ System for Continuous Patient Monitoring
2/9/2024 Barts Health NHS Trust to procure site-wide patient monitoring system
24/4/2024 BioIntelliSense Announces Completion of Houston Methodist Inpatient Expansion of the BioButton® Continuous Patient Monitoring Solution
1/6/2023 Philips and Masimo introduce new, advanced monitoring capabilities to Philips high acuity patient monitors
25/9/2022 Remote patient monitoring finally mainstream
2/9/2021 Philips and Masimo introduce new, advanced monitoring capabilities to Philips high acuity patient monitors
4/12/2022 Mindray Introduces New Wearable Patient Monitoring System, Refining Clinician's Workflow to Track Patient Conditions
18/10/2022 BioIntelliSense Acquires AlertWatch® Clinical Intelligence Engine to Expand its Comprehensive Portfolio of Continuous Patient Monitoring Solutions
31/8/2022 Medtronic Announces Partnership with BioIntelliSense for Exclusive U.S. Distribution of Multi-Parameter Wearable for Continuous Remote Patient Monitoring from in-Hospital to Home
27/7/2021 LifeSignals lands FDA clearance for its remote monitoring wearable biosensor
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Multiparameter Patient Monitoring System Market Segmentation
by Device Type
Portable
Fixed
by Acuity Level
High Acuity Level
Medium Acuity Level
Low Acuity Level
by Target Area
Cardiology
Neurology
Respiratory
Foetal and Neonatal
Temperature Monitoring
Other Target Areas
by End-Users
Hospital
Homecare Settings
Ambulatory Surgical Centers
Others
by Age Group
Pediatric
Adult
Geriatric
Multiparameter Patient Monitoring System Market Key Players
North America:
1. GE Healthcare (United States)
2. Masimo Corporation (United States)
3. Spacelabs Healthcare (United States)
4. Edwards Lifesciences Corporation (United States)
5. Welch Allyn, Inc. (United States)
6. CAS Medical Systems, Inc. (United States)
7. Compumedics Limited (United States)
8. Nonin Medical, Inc. (United States)
9. Mindray DS USA, Inc. (United States)
10. Hill-Rom Holdings, Inc. (United States)
11. Boston Scientific Corporation (United States)
12. Mortara Instrument, Inc. (United States)
Europe:
13. Philips Healthcare (Netherlands)
14. Drägerwerk AG & Co. KGaA (Germany)
15. Schiller AG (Switzerland)
16. Biotronik SE & Co. KG (Germany)
17. Smiths Medical (United Kingdom)
Asia-Pacific:
18. BPL Medical Technologies (India)
19. Medtronic plc (Ireland)
20. Nihon Kohden Corporation (Japan)
21. Mindray Medical International Limited (China)
22. Omron Healthcare Co., Ltd. (Japan)
23. Fukuda Denshi Co., Ltd. (Japan)
24. Biolight (China)
25. Contec Medical Systems Co., Ltd. (China)
26. Compumedics Limited (Australia)
Key questions answered in the Multiparameter Patient Monitoring System Market are:
• What are the growth drivers for the Multiparameter Patient Monitoring System Market?
• What is the major restraint for the Multiparameter Patient Monitoring System Market growth?
• Which region is expected to lead the global Multiparameter Patient Monitoring System Market during the forecast period?
• What is the projected market size & growth rate of the Multiparameter Patient Monitoring System Market?
Key Offerings:
• Past Multiparameter Patient Monitoring System Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Multiparameter Patient Monitoring System Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o § Competitive landscape - Multiparameter Patient Monitoring System Market Leaders, Market Followers, Regional player
o § Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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