Global Multi-item patient Monitor demand is anticipated to be valued at USD 39.0 Billion in 2022, forecast to grow at a CAGR of 3.61% to be valued at USD 55.6 Billion from 2022 to 2032. Growth is attributed to an increase in healthcare expenditure.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 37.7 Billion |
| Expected Market Value (2022) | USD 39.0 Billion |
| Anticipated Forecast Value (2032) | USD 55.6 Billion |
| Projected Growth Rate (2022 to 2032) | 3.61% CAGR |
Multi-item patient monitor is a medical device that consists of a processing component, monitoring sensors and a screen display which is widely used for measuring and storing a patient’s vital signs such as body temperature, blood pressure, pulse rate, and respiratory rate. This device enhances the quality of healthcare in both the in-patient wards and intensive care units (ICU).
One of the major factors that is expected to accelerate the growth of the Multi-item patient monitor market during the forecast period include the continuous increase in demand for home-based medical treatments for the geriatric population, as the demand for these portable devices, which are easy and convenient to use.
Other major factors including the increase in healthcare expenditure, improved healthcare infrastructure, and rise in disposable income are likely to boost the market growth during the forecast period.
On the Contrary, the poor reimbursement policies for the device and the high associated costs are further projected to impede the growth of the rib fracture treatment market in the timeline period.
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The high demand for real-time patient monitors in critical care units, growing product penetration and popularity across regions, growing demand for early diagnosis and treatment of chronic diseases, documenting changes in a patient’s condition at every stage, and the need to make better clinical decisions on the spot are the major factors that are expected to fuel the market growth over the analysis period.
Multi-item patient monitors are consistently being improved in technology, especially for better algorithm-based monitoring. Remote patient monitoring has evolved over the years and thus, which in turn boosts the demand for multi-item patient monitors over time.
Several macro-economic factors such as an increase in healthcare expenditure, improved healthcare infrastructure, and rise in disposable income are also expected to contribute to the growth of the multi-item patient monitor market during the forecast period.
Additionally, a paradigm shift of multi-item patient monitors for use in hospitals to use in mobility services and ambulatory centers is other major factor that is expected to augment the growth of the multi-item patient monitors in the near future.
The lack of maintenance of Multi-item patient monitors during economic crisis in developing regions is one of the major factors that is anticipated to impede the growth of the multi-item patient monitoring market over the forecast period.
Additionally, the high costs associated with these monitors, coupled with poor reimbursement policies for the device might hamper the market growth for multi-item patient monitors during the analysis period.
The Multi-item patient Monitor market in North America is expected to hold largest share of USD 34.6 Billion. Considering the revenue generation, the regional market is expected to reach at a CAGR of 2.97% during the forecast period.
The multi-item patient monitoring market in North America is expected to dominate the global market, owing to the high product penetration and growing number of intensive care facilities and improved healthcare infrastructure in the region.
Moreover, factors such as more initiatives to provide advanced products, higher research expenditure, and private-public partnerships are expected to propel the North America’s multi-item patient monitoring market. In addition, the high prevalence of chronic diseases and the introduction of supportive reimbursement schemes are some vital factors governing the growth of the market in this region.
The Asia-Pacific Multi-item patient Monitor market is expected to reach at a CAGR of 1.54% with a market value of USD 25.4 Billion. Additionally, Southeast Asia is facing an increase in the trend for these monitors, attributed to the use of multi-item patient monitors via Wi-Fi and other networks.
Increasing per capita income, economic development, and unmet needs of a large population in the Asia Pacific region are expected to contribute to the regional market growth. Rising demand for remote patient monitoring and related services due to the increasing government spending on healthcare is anticipated to augment the market growth.
Furthermore, China is the leading producer of low-cost electronic chips and products. Hence, it is projected to attract investors in China, thereby contributing to the market growth.
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Some of the key participants present in the global Multi-item patient Monitor market include GE Healthcare, Mindray, NIHON KOHDEN CORPORATION, Koninklijke Philips N.V., OSI Systems, Inc, Microchip Technology Inc., Hipac Healthcare Pty Ltd, Arjo, Schiller, Heyer Medical AG, SUNRAY MEDICAL APPARATUS CO.LTD, TENKO MEDICAL, Drägerwerk AG & Co. KGaA and Fukuda Denshi, among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as GE Healthcare, Mindray, NIHON KOHDEN CORPORATION, Koninklijke Philips N.V., OSI Systems, Inc, and Microchip Technology Inc., account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the North America.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.61% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Acuity Type, Application, End-User, Region |
| Regional Scope | North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, China, Japan, Middle East and Africa |
| Country Scope | USA, Canada, Mexico, Brazil, UK, Germany, France, Spain, Italy, Poland, Russia, China, India, ASEAN, Australia, New Zealand, GCC, South Africa, North Africa |
| Key Companies Profiled | GE Healthcare, Mindray, NIHON KOHDEN CORPORATION, Koninklijke Philips N.V., OSI Systems, Inc, Microchip Technology Inc., Hipac Healthcare Pty Ltd, Arjo, Schiller, Heyer Medical AG, SUNRAY MEDICAL APPARATUS CO.LTD, TENKO MEDICAL, Drägerwerk AG & Co. KGaA and Fukuda Denshi, among others |
| Customization Scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
FMI projects the global Multi-item patient Monitor market to expand at a 3.61% value CAGR by 2032
North America is expected to be the most opportunistic Multi-item patient Monitor market, expanding at 2.97% CAGR
GE Healthcare, Mindray, NIHON KOHDEN CORPORATION, Koninklijke Philips N.V., OSI Systems, Inc, and Microchip Technology Inc., are some prominent Multi-item patient Monitor manufacturers
| Market Size (2024E) | USD 1.3 billion |
|---|---|
| Market Projected Size (2034F) | USD 6.0 billion |
| Value CAGR (2024 to 2034) | CAGR of 15.7% |
| Estimated Market Size (2024E) | USD 46.5 billion |
|---|---|
| Projected Market Value (2034F) | USD 161 billion |
| Value-based CAGR (2024 to 2034) | 13.3% |
| Market Value (2022) | USD 2,453.72 Million |
|---|---|
| Market Forecast Value (2032) | USD 5,297.39 Million |
| Market CAGR (2022 to 2032) | 8% |
| Market Value (2022) | USD 96.10 Billion |
|---|---|
| Market Forecast Value (2032) | USD 825.92 Billion |
| Market CAGR (2022 to 2032) | 24% |
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Multi-item patient Monitor Market
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