The multi-parameter monitors intended for providing various types of information on a single screen, therefore it furnishes all the information required for understanding the patient current situation. It appears like a monitor for offering the solution for differing critical care.
Multi-parameter patient monitoring dispenses an inclusive comprehension of patients by providing a wider scope of monitoring. Patient monitors supplies various information like central venous pressure, reading heart rate, ECG, non-invasive blood pressure, PaCO2, SpO2, and temperature and invasive blood pressure. These monitors consist of the alarm of the parameters are set and the caretakers are being alerted for variations far off the parameter set.
Based on the status of the patient, it needs several patient physiological parameters are required to be monitored. In this case, Multi-Parameter Patient Monitor MP50, MP70 is used. Patient devices are usually modular or are configured beforehand in their concept. These multi-parameter patient monitors are usually placed beside the patient beds and arrangements are made for parameter monitoring which consists of the NIBP, ECG, Temperature, and Invasive Blood Pressures (IBP’S) and SPO2.
COVID-19 scenario analysis:
To take care of the infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With a rise in the number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil populations for precautionary measures.
Manufacturers of these products have a chance to capitalize on this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market.
Owing to such factors, COVID 19 is expected to have a significant impact on the Multi-parameter patient monitoring market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:
Increasing frequencies of various diseases like diabetes and cancer in both the developed and developing countries are driving the growth of the multi-parameter patient monitoring equipments. Additionally, endocrine diseases like hyperthyroidism are also growing high specifically in the developing countries which results in the need for the vital parameters of critical monitoring and surgeries. Furthermore, other trends in the demographics like growing diseases and infections in the population are leading to the growth of the multi-parameter patient monitoring market.
There has also been an increase in the awareness in regards to the technology available and advancements in the multi-parameter patient monitors, various governments in the developing economies have come up with new and various initiatives which are helping in the improvement of the awareness within the doctors. Moreover, developing economies are very preservative when it comes to the economic factors of the devices and therefore, the regulatory authorities and government are tackling these issues by bringing up new initiatives for the lowering of the prices of multi-parameter monitors.
Advances in the monitoring devices like remote patient monitoring, homecare healthcare services, and wireless devices furnished by the help of like cloud and Wi-Fi are propelling the multimodal market growth.
On the other hand, stringent regulatory framework by the regulatory authorities along with the expensive charges associated with the multiparameter monitoring devices are the major challenges faced by the multi-parameter patient monitoring market.
New product launches and acquisitions to flourish the market:
On December 10th, 2019, Nihon Kohden Corporation introduced its new monitors' named Life Scope SVM-7200 series for the U.S. outpatient facilities.
Surge in usage in hospitals and patients segment applications:
Hospitals, Homecare Settings, and Ambulatory surgical centers (ASC) are the major consumers of the multi-parameter patient monitoring market. Amongst them, hospitals and the Ambulatory surgical center are the biggest end-users. This is due to the increasing demand and significant number in the intensive care units. Ambulatory surgical centers are also increasing on a large scale. The requirement of technological advances like transportable multi-parameter patient monitoring is higher in ASCs.
Key benefits of the report:
- This study presents the analytical depiction of the global Multiparameter patient monitoring industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Multiparameter patient monitoring market share.
- The current market is quantitatively analyzed to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global Multiparameter patient monitoring market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Multiparameter patient monitoring Market research report:
- What are the leading market players active in the Multiparameter patient monitoring market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Multi-parameter patient monitoring Market Report Highlights
By Device Type
By Acuity Level
By Age Group
By End User
Key Market Players
Philips Healthcare, Mediana, Opto India, Mindray, Medion Healthcare, Epsimed, OSI Systems, Skanray Technologies, Medtronics, KizlonMedical