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The global multiparameter patient monitoring equipment market is growing at a significant rate, due to increased chronic diseases such as chronic obstructive pulmonary disease, diabetes and cardiovascular diseases. More than 35 million people are suffering from chronic obstructive pulmonary disease in Japan, Europe and the U.S. Private institutional nursing is providing ample opportunity to the growth of multiparameter patient in the coming years.
North America leads the multiparameter patient monitoring equipment market, due to increase in number of hospitalizations in the region. Additionally, strong economic growth has been reported in the developing countries such as, China and India due to large population base and increased healthcare investment. As a result, emerging economies are expected to support the multiparameter patient monitoring equipment market to grow with a significant rate in coming years.
Multiparameter patient monitoring equipments are monitoring systems that measure and display waveforms and numerical data for the patient. The parameters are achieved through monitoring systems used for the treatment and diagnosis of patients in numerous healthcare departments. The multiparameter patient monitoring equipments are used to display signals of numerous essential signs such as, heart rate, respiratory rate, ECG, temperature and blood pressure.
The multiparameter patient monitoring equipments work by translating electrical signals into readable form and displaying them on the monitor. Multiparameter patient monitoring equipments centralizes the function of parameter measurement module, output, record and display to create a portable and compact device. It has a built in replaceable battery, which provides convenience for patient movement. The monitor of the device is equipped with a high resolution multicolor thin film transistor (TFT) light emitting diode (LED) screen. Multiparameter patient monitoring equipments are user friendly and could be operated by using few buttons and rotary knob on the front panel of device.
On the basis of type of monitor, the multiparameter patient monitoring equipment market can be categorized into low acuity monitors, mid acuity monitors and high acuity monitors. Low acuity monitors include ambulatory monitors and vital sign monitors. Mid acuity monitors include emergency care monitor and post anesthesia care monitors. High acuity monitors include critical care monitors, magnetic resonance imaging (MRI) compatible monitors and perioperative monitor. Steady growth in the use of low acuity products at home setups is driving the multiparameter patient monitoring equipment market.
The multiparameter patient monitoring equipment market can also be categorized on the basis of end users as clinics, home healthcare, rehabilitation centers, hospitals, diagnostic, physician offices, research and surgical centers. Home healthcare leads the multiparameter patient monitoring equipment market under the end user categories, due to the implementation of strict policies and regulations set by the government.
One of the major trends in the multiparameter patient monitoring equipment market is increased adoption of portable multiparameter monitors. The growth of aging population increases the occurrence of chronic diseases and increased hospitalization, resulting in the expansion of the multiparameter patient monitoring equipment market. High cost and low accuracy of equipments, economic crisis and unpredictable reimbursement policies are some of the major factors restraining the growth of the multiparameter patient monitoring equipment market.
Some of the competitors in the multiparameter patient monitoring equipment market are GE Healthcare, Edwards Lifesciences Corporation, Nihon Kohden Corporation, Guangdong Biolight Meditech Co. Ltd., Philips N.V., CAS Medical Systems, Mindray Medical International Limited, Spacelabs Healthcare, Omron Healthcare, Inc., Drägerwerk AG & Co., Larsen & Toubro Limited, Schiller Healthcare, and Contec Medical Ltd.