Multiparameter patient monitoring devices
are said to be observation systems that record and display quantitative data pertaining to patient characteristics. The information recorded on
multiparameter monitoring devices is used for diagnosis and treatment in various healthcare settings.
Multiparameter patient monitoring devices have the feature to display input signals simultaneously regarding multiple vital signs, such as respiratory
rate, heart rate, non-invasive and invasive blood pressure, temperature, electrocardiograms (ECG), end-tidal CO2, and arterial oxygen saturation. The
monitor converts the electrical signals into readable text displayed simultaneously on the built-in display of the monitor.
The multiparameter monitoring devices market is largely driven by monitors that aid healthcare professionals in managing clinical data across patients and
service units. The recordings on the monitors help capture and interpret vital clinical statistics that help improve prognoses for the patients with high
efficiency. The adoption of technologically advanced monitoring devices has economical advantages regarding resources and clinical spaces.
Multiparameter patient monitoring devices are expected to exhibit the strongest growth in transport, critical care, and emergency room settings. Alternate
care also exhibits strong growth potential, though the share of the hospital segment will drop in the coming years.
Cardiac Care to Drive Multiparameter Patient Monitoring Devices Market Extensively
Of the many critical care disease areas, cardiology has extensive scope for the application of multiparameter patient monitoring devices. The high
prevalence of chronic diseases such as chronic obstructive pulmonary disease (COPD), cardiovascular diseases (CVD), and diabetes is accounted as a key
factor driving the multiparameter patient monitoring devices market.
As per WHO statistics, the total number of deaths worldwide due to CVD was 18.1 million in 2010 and is estimated to reach 24.2 million by 2030. Europe, the
U.S., and Japan collectively account for 38 million patients suffering from COPD. Additionally, the International Diabetes Federation (IDF) estimates the
incidence of diabetes to increase by 7.8% upon the latest figures by 2030.
Moreover, increased hospitalization on account of high prevalence of chronic diseases and the growing geriatric population, which is more prone to chronic
or degenerative diseases, will further boost the multiparameter patient monitoring devices market in coming years.
Business Ventures to Offer Product Customization in European Market
The multiparameter patient monitoring devices market in Europe is segmented as per monitor types into high acuity, low acuity, mid acuity monitors, and
multiparameter central stations. Based on compatibility, high acuity monitors include MRI, preoperative, and critical care monitors. Mid acuity monitors
are inclusive of emergency care and anesthesia care monitors, while low acuity monitors are of two types: ambulatory and vital sign monitors. A notable
advancement in the multiparameter patient monitoring devices market is an electrocardiograph called BeneHeart R3 by Mindray Medical, which uses a specialty
ECG analysis method developed at the University of Glasgow.
The multiparameter patient monitoring devices in Europe is characterized by varied business ventures such as M&As and other collaboration activities.
Such business tie-ups help attain customization and also take into consideration customer satisfaction offered through competitive prices of products
available in the market. Some of the key players in the Europe multiparameter patient monitoring devices market are GE Healthcare, Nihon Kohden, Mindray
Medical, OSI Systems, and Philips Healthcare.
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