worldwide multiparameter patient monitoring market is anticipated to surpass USD 4,016.0 million by 2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the multiparameter patient monitoring market based on device type, Application, End use and region.
The wordwide multiparameter patient monitoring market is driven by the escalating prevalence of disorders such as obesity and diabetes. The upsurge in cardiological disorder occurences across the globe is also a pivotal driver that would fuel the market growth. The industry will receive impetus from the rising number of hospitals focusing on providing technologically advanced facilities to patients and the inclination toward a sedentary lifestyle.
The expanding healthcare space has been touted to majorly contribute to the growth of the worldwide multiparameter patient monitoring market. This is because the healthcare industry retains focus on accurate disease analysis, quick, convenient diagnoses, and rising medical care expenditure by the emerging economies which will effectively lead to the implementation of digitalization in the healthcare space in the coming years.
As per the report, the growth of the worldwide multiparameter patient monitoring market may be restricted by the cost of equipment implementation as well as a strict regulatory landscape.
Speaking of the regional spectrum, the report cites that North America accounted for the highest revenue in the global multiparameter patient monitoring market in 2017. The regional growth is primarily driven by the highly innovative and technologically advanced healthcare infrastructure in Canada and the United States. Also, the region is witnessing an increased number of mergers and acquistions of the U.S. and Canada. Moreover, increasing number of mergers and acquisition between the key players in this region , and Asia Pacific expected to be the fastest growing region globally during the forecast period. North Americas multiparameter patient monitoring market is primarily driven by the technologically advanced healthcare infrastructure of the U.S. and Canada. Moreover, increasing number of mergers and acquisition between the key players in this region would also promote the growth of this regions market during the forecast period. While, Asia Pacific?s market is majorly driven by the increasing awareness for the use of multiparameter patient monitoring equipment, and need for diagnosis of chronic diseases at an early stage.
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In 2017, the cardiology application dominated the global multiparameter patient monitoring market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue in 2017. There has been a great demand for multiparameter patient monitoring in the years. This modular unit helps in personalized health management by monitoring early phase medical condition of the patient, by conventionally analyzing environmental & physiological data and assessing with the affective feedback.
The competitive spectrum of the global multiparameter patient monitoring market comprises important firms such as Mindray Medical International, Philips Healthcare, Spacelab Healthcare, Roche Diagnostics, Schiller, GE Healthcare, Medtronic Plc, and CAS Medical Systems. These companies are known to launch novel products in the market and collaborate with industry leaders as well to bring about innovative products to the market pertaining to the changing requirements of consumers.