Rising incidences of chronic diseases, extensive demand for early diagnosis and treatment of various diseases and disorders coupled with the need to enhance the quality of healthcare will invite substantial growth prospects for the multiparameter patient monitoring systems market during the forecast period of 2020-2030.
Rising incidences of chronic diseases, extensive demand for early diagnosis and treatment of various diseases and disorders coupled with the need to enhance the quality of healthcare will invite substantial growth prospects for the multiparameter patient monitoring systems market during the forecast period of 2020-2030. The increasing use of latest technologies across the healthcare sector is encouraging the use of multiparameter patient monitoring systems to a considerable extent.
A multiparameter patient monitoring system is utilized to identify and scan a patient’s health signs. These systems are effective and help in providing the overall information about a person’s health. Blood pressure, oxygen saturation levels, cardiac activity, temperature, respiration, etc. are some important aspects that can be monitored efficiently by multiparameter patient monitoring systems.
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Multiparameter patient monitoring systems are available in both portable and fixed variants. Their acuity levels are divided as high, medium, and low. These systems can be utilized across the adult, pediatric, and geriatric age groups. The expansive use of multiparameter patient monitoring systems across end-user industries like homecare settings, ambulatory surgical centers, hospitals, and others will bring exponential growth.
The growing geriatric population will prove to be a good growth generator for the multiparameter patient monitoring systems market. The geriatric population suffers from various kinds of chronic diseases and ailments. In addition, due to the high prevalence of diabetes in elder people, the incidence of heart diseases is more among them. According to the statistics from the Centers for Disease Control and Prevention (CDC), over 25 percent of the population aged 65 years or above is affected with diabetes. These statistics highlight the rising incidences of diabetes. The high diabetes prevalence indirectly helps in assuring profitable growth for the multiparameter patient monitoring systems market.
TMR Research’s report has covered almost every growth factor related to the multiparameter patient monitoring systems market. The current trends, regional insights, competitive dimensions, and the COVID-19 impact have been included in the report with precise details. The experts at TMR Research have analyzed numerous growth parameters in an accurate way. This advantage will help the stakeholders to strategize their next move and make risk-free decisions.
Multiparameter Patient Monitoring Systems Market: Competitive Dimensions
The multiparameter patient monitoring systems market has numerous players vying for an influential position across the large consumer base. The players indulge in new product launches and upgrade their existing systems to boost their influence. Further, the vendors also strive to expand the production capacities to cater to the large demand owing to the pandemic. Strategic collaborations also form an important part of the growth trajectory of the multiparameter patient monitoring systems market.
Some well-entrenched players in the multiparameter patient monitoring systems market are;
- Skanray Technologies
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
- Smiths Medical
- Koninklijke Philips N.V.
- Drägerwerk AG & Co. KGaA
Multiparameter Patient Monitoring Systems Market: Recent Developments
Some prominent recent developments in the multiparameter patient monitoring systems market are as follows:
- LifeSignals LX155OE multiparameter patient monitoring platform received CE mark approval recently.
- BioIntelliSense, a remote monitoring startup recently raised US$ 45 mn in Series B funding.
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Multiparameter Patient Monitoring Systems Market: Regional Insights
North America’s multiparameter patient monitoring systems market is expected to hold a dominant share across the forecast period of 2020-2030. Rising initiatives by the players in the region to promote their products through awareness campaigns and the growing public-private partnerships will bring good growth prospects. Asia Pacific will also see a rise in the growth share due to rising per capita income and increased spending of the government bodies on healthcare.
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