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Global Multi-Parameter Patient Monitoring Market to Reach USD 6 Billion by 2028

By HospiMedica International staff writers
Posted on 16 Apr 2019
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Image: The global multi-parameter patient monitoring market is expected to reach USD 6 billion by the end of 2028 (Photo courtesy of CMI Health).
Image: The global multi-parameter patient monitoring market is expected to reach USD 6 billion by the end of 2028 (Photo courtesy of CMI Health).
The global multi-parameter patient monitoring market is expected to grow moderately at a CAGR of 4.6% over the 2018-2028 projected period to reach USD 6 billion by the end of 2028, driven mainly by rising affluence in the emerging markets and the increasing aging population in developed economies providing a boost to healthcare spending. Increasing healthcare spending is expected to boost the demand for chronic disease treatment, thereby creating high growth opportunities for players in the global the multi-parameter patient monitoring market.

These are the latest findings of Future Market Insights (Valley Cottage, NY, USA), a market intelligence and consulting firm.

The rising number of accidents has increased the rate of hospital admissions, particularly in emergency care, which is expected to further fuel the growth of the global multi-parameter patient monitoring market. The market for multi-parameter patient monitoring is also growing due to the increasing demand for improved intensive care in the healthcare system in the developing and emerging regions.

Based on acuity level, the high acuity level segment is expected to dominate the global multi-parameter patient monitoring market with the largest share. On the basis of modality, tabletop multi-parameter patient monitors are expected to continue enjoying greater preference over handheld or portable variants. Based on end-user, hospitals are likely to witness the highest adoption of multi-parameter patient monitoring devices and services.

Geographically, North America and Europe are expected to account for a combined share of over 60% of the total revenues of the global multi-parameter patient monitoring market, mainly due to the consolidation of healthcare facilities and rapid technology adoption in these regions. However, the lack of skilled professionals is likely to hamper the growth of the global multi-parameter patient monitoring market. For instance, some countries in Asia Pacific do not have the required number of skilled professionals for patient care and handling, thereby continuing to pose a challenge to the market growth in the region.

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