Major players in the market are offering integrated remote patient monitoring devices with alert systems and messaging features.
Arizton's recent market research report on the global multiparameter patient monitoring devices market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The study includes insights by Devices (portable/compact and fixed), Acuity Level (high acuity, mid acuity, and low acuity), Patient Group (geriatric group, adult group, and pediatric group), End-users (hospitals, ASCs, homecare settings, and others), and Geography (North America, Europe, APAC Latin America, and MEA).
The multiparameter patient monitoring devices market is expected to grow at a CAGR of over 4% during the period 2019−2025.
A multi-parameter patient monitoring device is used to measure multiple critical physiological signs of patients to transmit the vital information to physicians and help them take important clinical and treatment decisions. It is designed to give information related to several vital signs on a single screen, thereby providing multiple vital statistics that are needed to examine the health condition. The multi-parameter patient monitoring device provides comprehensive understanding of the patient by offering a broad monitoring scope. Multi-parameter monitors provide reading such as heart rate, invasive & non-invasive blood pressure, ECG, blood oxygen saturation by pulse oximetry (SpO2), PaCO2, central venous pressure, and temperature. They are equipped with alarms where the parameters can be set, and the caregiver will be alerted in case of any change in readings beyond the set parameter. Over the past decade, multi-parameter monitors have emerged as important clinical decision-making devices that offer flexible solutions for varying critical care needs.
The leading drivers and trends driving the growth of the global multiparameter patient monitoring devices market are discussed below:
High Demand for Real-time Patient Monitors in Critical Care
Monitoring is a crucial part of critically ill patients in emergency departments (EDs) as the physiological response to critical illnesses is linked strongly to outcome. Monitoring of critically ill patients using multi-parameter monitors enables the quantification of physiological reserves as well as indicates the effectiveness of therapeutic interventions. The trend in monitoring using multi-parameter monitors also help physicians to identify the best location for the patient on transfer from EDs. It is important that physicians working in EDs to understand the principles of continuous monitoring. The continuous monitoring of vital signs in a medical-surgical unit is found to be associated with the reduction in intensive care unit utilization. This continuous monitoring reduces complications by deciding the correct line of treatment for critical care patients.
Introduction of Advanced Multi-parameter Monitoring Products
Advances in medical devices, medicine, and public health, coupled with increasing awareness among consumers about personal hygiene and nutritional values, have increased the life expectancy across the global in the past few years. The market is witnessing several advances in medical devices technology such as multi-parameter patient monitors. Recent multi-parameter monitoring devices introduced in the market include features such as remote monitoring capability and greater connectivity through Wi-Fi and cloud technology integration. For instance, in May 2018, Skanray Technologies launched TruSKAN Series multi-parameter patient monitoring device with the capability to monitor ECG, SpO2, temperature, arrhythmia detection, blood oxygen levels, respiration, capnography, and two-channel invasive BP. Similarly, in March 2018, NIHON KOHDEN introduced a new NK-HiQ remote patient monitoring platform, which is a smart and secure platform for data collection and management for end-users.
Integration of Multi-parameter Patient Monitors with Wireless and Remote Monitoring Platforms
With the growing demand for remote patient monitoring (RPM) and portable monitoring solutions in recent years, many players such as Medtronic, Philips Healthcare, Spacelabs Healthcare, Abbott, A&D Medical, and Biotronik are offering integrated remote monitoring solutions with alert systems and messaging features. For instance, Medtronic’s Vital Sync remote monitoring platform can integrate physiological information from bed-side monitoring systems and wearable devices of the patient to the hospital server. This platform also identifies the patient’s deterioration in the ICU, monitors spontaneous breathing patterns of the patient remotely, and transitions from telemetry to surveillance monitoring.
NIHON KOHDEN, Koninklijke Philips, OSI Systems, Shenzhen Mindray Bio-Medical Electronics, and GE Healthcare are identified as prominent vendors in the global multiparameter patient monitoring devices market.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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