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.
Reliable reports suggest that nearly 1.4 million people between 18-79 years of age were diagnosed with diabetes in 2015. Diabetic patients are highly susceptible to cardiovascular diseases, thereby augmenting the multiparameter patient monitor demand.
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Based on acuity level, the global multiparameter patient monitoring market from the high-acuity segment is poised to depict a growth rate of 3.8% through 2025, which is attributable to technological advancements and rising preference for high-acuity multiparameter patient monitors in large hospitals. This type of monitor is highly efficient, as it is wireless and can be linked with hospital information network for transfer of patient information.
In terms of segmentation by age group, the geriatric segment held market share of 38.2% in 2018 and is expected to gain lucrative growth opportunities over the projected timeframe. According to reliable reports, there were around 962 million people of 60 years and above globally in 2017, with the number likely to reach 2.1 billion by 2050.
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.
From a regional perspective, the U.S. multiparameter patient monitoring market recorded remuneration worth $3.1 billion in 2018 and is projected to hold a major market share in the coming years. The regional market growth can be credited to the escalating potable multiparameter patient monitoring system adoption to treat patients with chronic diseases, as they require constant monitoring.
The competitive landscape of the multiparameter patient monitoring market comprises of companies such as Spacelab Healthcare, Masimo Corporation, GE Healthcare, GE Healthcare, Medtronic, and Mindray Medical International, among others. These firms are focusing on expanding their geographical footprint through varied strategies such as mergers & acquisitions, business expansions, and innovative product launches.
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Partial Chapter of the Table of Content
Chapter 4. Multiparameter Patient Monitoring Market, By Device Type
4.1. Market share, by device type, 2018 & 2025
4.2.1. Market size, by region, 2014 - 2025 (USD Million)
4.3.1. Market size, by region, 2014 - 2025 (USD Million)
Chapter 5. Multiparameter Patient Monitoring Market, By Acuity Level
5.1. Market share, by acuity level, 2018 & 2025
5.2. High-acuity multiparameter patient monitors
5.2.1. Market size, by region, 2014 - 2025 (USD Million)
5.3. Mid-acuity multiparameter patient monitors
5.3.1. Market size, by region, 2014 - 2025 (USD Million)
5.4. Low-acuity multiparameter patient monitors
5.4.1. Market size, by region, 2014 - 2025 (USD Million)
Chapter 6. Multiparameter Patient Monitoring Market, By Age group
6.1. Market share, by age group, 2018 & 2025
6.2.1. Market size, by region, 2014 - 2025 (USD Million)
6.3.1. Market size, by region, 2014 - 2025 (USD Million)
6.4.1. Market size, by region, 2014 - 2025 (USD Million)
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