Multi-parameter Patient Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Multi-parameter Patient Monitoring Market is segmented by Device Type (Portable and Fixed), Acuity Level (High Acuity Level, Medium Acuity Level, and Low Acuity Level), Target Area (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Temperature Monitoring, and Other Target Areas), End User (Hospitals and Home Healthcare), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).

Market Snapshot

multi parameter patient monitoring market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5 %

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Market Overview

The multi-parameter patient monitoring market is expected to register a CAGR of 5%, during the forecast period. Unprecedented in human history, there has been a rapid growth of the aging population in the 21st century, resulting from declining mortality, and most importantly, from declining fertility. The phenomenon has led to a comparative decline in the proportion of children and an increase in working as well as the elderly population.

Population aging has major social and economic significances. Currently, about two-thirds of the world’s elderly population live in developing countries. The increase in the aging population directly contributes to the growth of these devices. The aged patients, who are unable to reach out to hospitals, propel the demand for multi-parameter patient monitoring devices and services. Hence, the market for remote patient monitoring, wireless devices, and homecare healthcare services provided with the help of connectivity, like Wi-Fi and cloud, is growing day by day.

Other factors, such as the rising incidences of chronic diseases (like cancer), due to lifestyle changes, need to contain healthcare expenditure, demand for home-based monitoring devices, and ease of use and portability of devices, are also driving the growth of the market studied. According to the World Health Organization, in 2018, around 18 million new cases of cancer were diagnosed all around the world. Hence, it is expected to drive the market growth.

Scope of the Report

  • Multi-parameter monitors are devices that monitor various parameters, such as arterial blood pressure, heart rate, body and skin temperature, oximetry, and capnography, with a single device. These devices have become popular as they are small, portable, and user-friendly. 
  • Periodic reports and immediate alerts for any sudden changes in the health of sick patients may give people an opportunity to act quickly and save the life of the person in danger. Even from a personal health monitoring perspective, the ability to relay the collected health information to a doctor or a hospital for advanced or emergency assessment is a great asset to people. 
  • The multi-parameter patient monitoring market is segmented by device type (portable and fixed), acuity level (high acuity level, medium acuity level, and low acuity level), target area (cardiology, neurology, respiratory, fetal and neonatal, temperature monitoring, and other target areas), end user (hospitals and home healthcare), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).
By Device Type
Portable
Fixed
By Acuity Level
High Acuity Level
Medium Acuity Level
Low Acuity Level
By Target Area
Cardiology
Neurology
Respiratory
Fetal and Neonatal
Temperature Monitoring
Other Target Areas
By End Users
Hospitals
Home Healthcare
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Portable Multi-parameter Patient Monitors Hold the Largest Market Share

  • The rising awareness regarding healthcare and increasing concern for the constant monitoring of health parameters of patients, pre-and post-surgery, are expected to drive the growth of the overall market.
  • Multi-parameter monitors are of two major types, portable and fixed, of which, the portable monitors are expected to dominate the market over the forecast period. This is owing to factors, such as growing home healthcare, ease of monitoring post-surgical recovery patients, rising ambulatory care facilities, and increasing adoption of remote patient monitoring.
  • Additionally, the competition among the major market players is on the rise, owing to growing technological advancements. Hence, the portable monitors' segment is expected to retain its dominance, over the forecast period.
Multi Parameter Paitent Monitoring Market Trend.png

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North America Dominates the Overall Multi-parameter Patient Monitoring Market

  • North America dominated the overall multi-parameter monitoring market, and the region is expected to retain its dominance over the forecast period. The multi-parameter patient monitoring market in the United States held the largest market share in the North American region, due to the high quality of healthcare system and modern medical technology in the country.
  • Additionally, the presence of a high percentage of the elderly population in the region is likely to contribute to the growth of the multi-parameter patient monitoring market. According to the US Census Bureau, in 2018, around 52 million population were aged 65 years and above. Furthermore, the growing burden of morbidity and mortality due to chronic diseases is expected to impact the multi-parameter patient monitoring market.
Multi-Parameter Patient Monitoring Market - Growth Rate by Region

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Competitive Landscape

The presence of major market players, such as Abbott Laboratories, Becton, Dickinson and Company, GE Healthcare, Medtronic PLC, and Philips Healthcare, is intensifying the market competition. Innovations and increasing investments from various public and private organizations are expected to intensify industry rivalry across the world.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes

      2. 4.2.2 Increase in Aging Population

      3. 4.2.3 Demand for Home-based Monitoring Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulatory Framework

      2. 4.3.2 Lack of Proper Reimbursement

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Device Type

      1. 5.1.1 Portable

      2. 5.1.2 Fixed

    2. 5.2 By Acuity Level

      1. 5.2.1 High Acuity Level

      2. 5.2.2 Medium Acuity Level

      3. 5.2.3 Low Acuity Level

    3. 5.3 By Target Area

      1. 5.3.1 Cardiology

      2. 5.3.2 Neurology

      3. 5.3.3 Respiratory

      4. 5.3.4 Fetal and Neonatal

      5. 5.3.5 Temperature Monitoring

      6. 5.3.6 Other Target Areas

    4. 5.4 By End Users

      1. 5.4.1 Hospitals

      2. 5.4.2 Home Healthcare

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia-Pacific

      4. 5.5.4 Middle-East and Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle-East and Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Baxter International Inc.

      3. 6.1.3 Becton, Dickinson and Company

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 GE Healthcare

      6. 6.1.6 Medtronic PLC

      7. 6.1.7 Koninklijke Philips NV

      8. 6.1.8 SCHILLER

      9. 6.1.9 Nihon Kohden

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Multi-parameter Patient Monitoring Market market is studied from 2018 - 2026.

The Multi-parameter Patient Monitoring Market is growing at a CAGR of 5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, GE Healthcare, Medtronic PLC, Koninklijke Philips NV, Becton, Dickinson and Company are the major companies operating in Multi-parameter Patient Monitoring Market.

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