Multi-parameter Patient Monitoring Equipment Market Report Analysis With Industry Share 2027

According to Transparency Market Research’s latest report on the global multi-parameter patient monitoring equipment market for the historical period 2017–2018 and forecast period 2019–2027. The global multi-parameter patient monitoring equipment market is driven by increase in prevalence of chronic pain, and rise in demand for home monitoring.
According to the report, the global multi-parameter patient monitoring equipment market was valued at US$ 3.8 Bn in 2018 and is anticipated to expand at a CAGR of 3.7% from 2019 to 2027

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Constant Rise in Incidence of Chronic Diseases: Key Driver

Increasing incidence of chronic conditions across the world is one of the key drivers of the growth of the multi-parameter patient monitoring equipment market, as conditions such as asthma, hypertension, diabetes, and other cardiovascular and respiratory diseases demand regular and continuous monitoring. Early diagnosis and monitoring of patients is essential to identify, treat, and control the severity of these diseases. Therefore, rising base of target patient population would act as a driver of the market.
According to the U.S. Census Bureau, around 89 million people would be aged over 65 years in the U.S. by 2050. Furthermore, around 40% people in Japan would be aged over 65 years by 2060. This rapid increase in the geriatric population is likely to more prone towards the chronic diseases.

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Frequent Product Recalls Lead to Confusion and Incredulity: Restraints

The multi-parameter patient monitoring equipment market has witnessed several product recalls in the past, due various reasons, such as incorrect readings and defective alarm systems. A number of renowned manufacturers of multi-parameter patient monitors have recalled their products for some technical reasons/shortcomings.
Recently, in May 2015, the U.S. Food and Drug Administration (FDA) issued a notice to Mindray USA for the recall of multi-parameter patient monitor with arrhythmia detection and alarm system. The reason for the recall was the inability of the monitors to display arrhythmia alarms due to communication loss, restart, etc.
Similarly, Phillips Healthcare in U.S. recalled its MX series of patient monitors over the issues of battery and power consumption in March 2018

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Global Multi-parameter Patient Monitoring Equipment Market: Competitive Landscape

This report profiles major players operating in the global multi-parameter patient monitoring equipment market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global multi-parameter patient monitoring equipment market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global multi-parameter patient monitoring equipment market include

Philips Healthcare
GE Healthcare
Drägerwerk AG & Co. KGaA
Nihon Kohden Corporation
Spacelabs Healthcare
CAS Medical Systems, Inc.
CONTEC MEDICAL SYSTEMS CO., LTD.
Guangdong Biolight Meditech Co., Ltd.
Mindray Medical International Limited
Schiller AG.

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Global Multi-parameter Patient Monitoring Equipment Market: Key Developments

Key players in the global multi-parameter patient monitoring equipment market are engaged in regulatory approvals, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global multi-parameter patient monitoring equipment market. A few expansion strategies adopted by players operating in the global multi-parameter patient monitoring equipment market are:

In December, 2019, Nihon Kohden Corporation launched its Life Scope SVM-7200 series vital sign monitors in the U.S. for outpatient facilities
In January 2015, Schiller AG and VISUS, a leading supplier of image management solutions, entered into a constructive technology partnership. This partnership would optimize the integration and display of ECG data in the image data management system (JiveX Medical Archive).
In March 2014, Nihon Kohden Corporation announced the establishment of a sales subsidiary named Nihon Kohden Latin America S.A.S. in order to expand sales across Mexico, Central America, South America, and the Caribbean. The new sales subsidiary supports the local distributors and strengthens the sales network in Central and South America.

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The report on the global multi-parameter patient monitoring equipment market discussed individual strategies, followed by company profiles of manufacturers of multi-parameter patient monitoring equipment. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global multi-parameter patient monitoring equipment market.

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