Multi-parameter Patient Monitoring: The Future of the Market, 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
The “Multi-parameter Patient Monitoring: The Future of the Market, 2024” report has been added to ResearchAndMarkets.com’s offering.
The multi-parameter patient monitoring market is expected to register a CAGR of 5% during the forecast period, 2019-2024.
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 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 multi-parameter patient monitoring market.
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, is 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, 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.
In addition, the competition among the major market players is on the rise, owing to growing technological advancements. Hence, the portable monitor’s segment is expected to retain its dominance over the forecast period.
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 as well.
In 2017, 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 also likely to contribute to the growth of the multi-parameter patient monitoring market.
The presence of major market players, such as Abbott Laboratories, Becton, Dickinson and Company, GE Healthcare, Medtronic, and Philips Healthcare, among others, is intensifying the market competition. Innovations and increasing investments from various public and private organizations are expected to intensify the industry rivalry, across the globe.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes
4.2.2 Increase in Aging Population
4.2.3 Need to Contain Healthcare Expenditure
4.2.4 Demand for Home-based Monitoring Devices
4.2.5 Ease of Use and Portability of Devices
4.3 Market Restraints
4.3.1 Resistance from the Healthcare Industry Professionals toward the Adoption of Patient Monitoring Systems
4.3.2 Stringent Regulatory Framework
4.3.3 Lack of Proper Reimbursement
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Device Type
5.2 By Acuity Level
5.2.1 High Acuity Level
5.2.2 Medium Acuity Level
5.2.3 Low Acuity Level
5.3 By Target Area
5.3.4 Fetal and Neonatal
5.3.5 Weight Monitoring
5.3.6 Temperature Monitoring
5.3.7 Remote Monitoring
5.3.8 Other Target Areas
5.4 By End Users
5.4.2 Home Healthcare
5.5.1 North America
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.5.4 Middle East & Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
5.5.5 South America
126.96.36.199 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 AMD Global Telemedicine
6.1.3 Baxter International Inc.
6.1.4 Becton, Dickinson and Company
6.1.5 Bosch Medical
6.1.6 Boston Scientific Corporation
6.1.7 GE Healthcare
6.1.8 Medtronic PLC
6.1.9 Koninklijke Philips N.V.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3bewm2
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Related Topics:Patient Monitoring Equipment
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES
SOURCE: Research and Markets
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PUB: 05/23/2019 01:04 PM/DISC: 05/23/2019 01:04 PM