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According to the latest market study of Future Market Insights (FMI), the global Multi-Parameter Patient Monitoring Market is expected to reach the valuation of US$ 6.1 billion by the end of 2028. Over the decade-old projection period, 2022-2028, the global revenue through demand for multi-parameter patient monitoring devices and services will reportedly moderately grow at a CAGR of 4.6%, says FMI.
The study finds that the multi-parameter patient monitoring market in North America and Europe, combined, will account for a share of over 60% of the total revenue. The concentration of global multi-parameter patient monitoring market revenue in developed regional markets has been attributed to consolidation of healthcare facilities and rapid technology adoption within these regions.
Rising affluence in emerging markets and increasing aging population in developed economies are expected to boost the healthcare spending, which is expected to boost the multi-parameter patient monitoring market. Increasing healthcare spending is expected to boost the demand for chronic disease treatment, thereby creating high growth opportunities for competitors in the global the multi-parameter patient monitoring market landscape.
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Multi-parameter Patient Monitoring Systems Ubiquitous in Emergency Care Units
FMI finds that the rising number of accidents has increased the rate of hospital admissions, particularly in emergency care, which is expected to be another factor driving the global multi-parameter patient monitoring market.
Moreover, the market for multi-parameter patient monitoring is rising due to the increasing demand for improved intensive care in the healthcare system. Earlier, intensive care services were limited to developing countries, however, with increasing awareness about the importance of better patient care, the demand for intensive care is also increasing in the developing and emerging regions.
Dearth of Skilled Healthcare Professionals May Continue to Restrict High-potential Sales Opportunities
People who treat patients directly and play a vital role in a healthcare system are meant to be the primary line of defence against widespread epidemics. However, the lack of skilled professionals is likely to hamper the growth of the global multi-parameter patient monitoring market.Some of the countries of the Asia Pacific region do not have the required number of skilled professionals for patient care and handling, which continues to challenge market growth within the region.
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Multi-parameter Patient Monitoring Market Segmentation Analysis
Some of the key players of the multi-parameter patient monitoring market are General Electric Company, Koninklijke Philips N.V., Medtronic plc, OSI Systems, Inc., Nihon Kohden Corporation, Drägerwerk AG & Co. KGaA (Draeger, Inc.), Masimo, Contec Medical Systems Co., Ltd., General Meditech, Inc., Mindray Medical International Limited, and Schiller AG.
Key Segments of Multi-Parameter Patient Monitoring Industry Survey
Multi-Parameter Patient Monitoring Market by Acuity Level:
Multi- Parameter Patient Monitoring Market by Modality:
Multi-Parameter Patient Monitoring Market by End User:
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 7-years. Contact Us: Future Market Insights, Unit No: 1602-006, Jumeirah Bay 2, Plot No: JLT-PH2-X2A, Jumeirah Lakes Towers, Dubai, United Arab Emirates For Sales Enquiries: [email protected] Website: https://www.futuremarketinsights.com For Read Report: https://www.futuremarketinsights.com/reports LinkedIn| Twitter| Blogs
The post Multi-Parameter Patient Monitoring Market is anticipated to increase at a CAGR of 4.6% 2022-2028 appeared first on Future Market Insights.
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