New York, USA, Dec. 11, 2024 (GLOBE NEWSWIRE) — Market Overview
The market for multiparameter patient monitoring is on a growth trajectory. The multiparameter patient monitoring market size was valued at USD 12.83 billion in 2024 and is projected to grow to USD 22.19 billion by 2034. It is anticipated to exhibit a CAGR of 5.6% from 2025 to 2034.
Market Introduction
Multiparameter patient monitoring is the continuous monitoring of a patient’s vital signs and other parameters, such as blood pressure, oxygen levels, temperature, ECG, and heart rate. Multiparameter patient monitoring systems include several features, such as alarms, wireless data transmission, integrated defibrillator, and battery power. The alarms in these systems can alert staff when a certain parameter goes beyond a certain level. The integrated defibrillator enables immediate intervention in case of cardiac arrest.
The use of multiparameter patient monitoring systems helps streamline the medical monitoring process and improve patient care. MPMs are used in hospitals and clinical settings, especially in acute care units, intensive care units (ICUs), and emergency rooms. The rising number of patients admitted to hospitals and ICUs, particularly in response to critical conditions or emergencies, drives the demand for sophisticated monitoring systems such as multiparameter patient monitoring systems.
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Key Highlights of Report
- The market for multiparameter patient monitoring was valued at USD 12.83 billion in 2024 and is poised to reach USD 22.19 billion by 2034.
- The development of wearable multiparameter monitors that enable users to track vital signs and health metrics outside conventional healthcare settings is contributing to the multiparameter patient monitoring market demand.
- The market is primarily segmented on the basis of device, acuity level, age group, end-use, and region.
- The key regions covered in the research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Top Market Players
The multiparameter patient monitoring market has the presence of both established players and new entrants. These players are focusing on product innovations, technological advancements, and strategic partnerships to increase their market share. A few of the market key players are:
- Drägerwerk AG & Co. KGaA
- GE Healthcare
- ICU Medical, Inc.
- Koninklijke Philips N.V.
- MASIMO CORPORATION
- Medtronic
- Schiller
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Skanray Technologies
- Spacelabs Healthcare
- SternMed GmbH
Market Drivers and Opportunities
Growing Veterinary Healthcare: The rising number of pet owners and increasing awareness about animal welfare have led to an increased need for advanced monitoring solutions. This, in turn, is driving the multiparameter patient monitoring market growth.
Increasing Investment in Healthcare: Investments in healthcare infrastructure to improve the quality of patient care ensure that advanced technologies are available in both urban and remote areas. Also, they support better training and capacity building for healthcare professionals, enhancing their ability to use multiparameter patient monitoring technologies effectively.
Rising Home Healthcare: The shift towards home healthcare and remote patient monitoring has led to increased demand for multiparameter monitors used in home settings for chronic disease management and post-hospitalization care, impacting the multiparameter patient monitoring market expansion favorably.
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Regional Landscape
North America: North America dominated the multiparameter patient monitoring market with the largest revenue share in 2024. The well-established healthcare infrastructure and a higher prevalence of chronic conditions drive the market growth in North America. Besides, the presence of leading market participants and their continuous innovations contribute to the regional market dominance.
Asia Pacific: Asia Pacific is anticipated to register the fastest CAGR from 2025 to 2034. This is primarily attributed to the rapid expansion of the healthcare infrastructure, especially in major economies such as India and China. Other factors contributing to the regional market growth are the rising patient population and rapid urbanization.
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Market Segmentation
By Device Outlook
- Portable
- Fixed
By Acuity Level Outlook
- High
- Medium
- Low
By Age Group Outlook
- Pediatric
- Adult
- Geriatric
By End-Use Outlook
- Hospitals
- Homecare Settings
- Ambulatory Surgical Centers
- Others
By Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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