LONDON, April 27, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Multi-Parameter Patient Monitoring Equipment Global Market Report 2023, growth in the multi-parameter patient monitoring equipment market is anticipated to be driven by the rising prevalence of chronic diseases.
For example, in July 2022, the Centers for Disease Control and Prevention (CDC), a national public health agency based in the United States, reported that six out of ten Americans have chronic diseases and four out of ten adults suffer from two or more chronic diseases, such as heart disease, stroke, diabetes, and chronic lung cancer.
According to market research report, the global multi-parameter patient monitoring equipment industry is projected to experience substantial growth from $8.3 billion in 2022 to $8.8 billion in 2023, representing a CAGR of more than 6%. Furthermore, it is expected that by 2027, the multi-parameter patient monitoring equipment market size will reach $11.2 billion with a CAGR of more than 6%. North America was the largest region in the market in 2022.
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The multi-parameter patient monitoring equipment market is seeing significant advancement in technologies to ensure better efficiency and accuracy. Major multi-parameter patient monitoring equipment companies like Philips Healthcare, GE Healthcare Technologies Inc., Drägerwerk AG & Co. KGaA, Nihon Kohden Corporation and Schiller AG are investing in research and development to create innovative technologies that can help them gain a competitive advantage.
In December 2022, Mindray, a Chinese company that specializes in this equipment, introduced a new wearable patient monitoring solution called the mWear system. This system offers unique features, such as precise measurements of patient status, wireless monitoring technology, and six essential vital signs powered by the Anti-motion Algorithm.
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The global multi-parameter patient monitoring equipment market is segmented as:
1) By Product Type: High-Acuity Monitors, Critical Care Monitors, Magnetic Resonance Imaging (MRI) Compatible Monitors, Perioperative Monitor, Mid-Acuity Monitors, Low-Acuity Monitors
2) By Application: Cardiology, Neurology, Respiratory, Fetal And Neonatal, Other Applications
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centres, Home Healthcare
The future of the multi-parameter patient monitoring equipment market is promising, and it is expected to grow significantly in the next few years, providing better healthcare services to patients worldwide. As per the report major companies in the market are investing in research and development to create innovative technologies that can provide accurate patient monitoring and diagnosis. To stay relevant in this competitive landscape the report provides further insights on other major player-strategies and upcoming advancements in the market
Multi-Parameter Patient Monitoring Equipment Global Market Report 2023 by The Business Research Company provides insights on the multi-parameter patient monitoring equipment market size, multi-parameter patient monitoring equipment market segments, multi-parameter patient monitoring equipment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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