Multiparameter Patient Monitoring Market Analysis

Device (Fixed, Portable)

The portable segment in the multiparameter patient monitoring market is estimated to gain a robust revenue share of 66% in the coming years owing to the increasing demand for wearable devices. Portable multiparameter patient monitoring systems allow for convenient mobility in patients as they can be easily transferred within the ward or from one hospital to another. Moreover, Furthermore, they are available in a variety of wearable forms to monitor the user's health. The combination of wearable devices with multiparameter monitoring systems has improved patient monitoring ease of use and accessibility that may be utilized pleasantly without causing any harm to the user and make monitoring more secure and comfortable. For instance, smartwatches are one of the most popular wearables categories worldwide, with revenues of over USD 44 billion predicted by 2023, with shipments of more than 250 million units in the same year.

Additionally, the fixed segment is expected to gain a significant market share of 34% by the year 2037. Fixed systems are most commonly found in hospital wards or other healthcare facilities where patients stay for extended periods to provide continuous monitoring of patient's vital signs and parameters at a centralized monitoring station.

Acuity Level (High Acuity Level, Mid-Low Acuity Level)

Multiparameter patient monitoring market from the high acuity segment is set to garner a notable share of 46% shortly. Patient monitoring systems, have become an essential component of all hospitals across the globe for better monitoring patients as they are primarily used to monitor vital signs during surgery as well as other parameters such as cardiac output, cerebrospinal fluid pressure, intracranial pressure, and ECG in ICUs, operating rooms, and emergency departments in a variety of healthcare settings, particularly in high-acuity areas, that have advanced significantly.

Multiparameter patient monitoring market from the mid-low acuity level segment is expected to garner significant revenue share during the forecast timeframe.  Low acuity monitors are simple multi-parameter monitors that are used to monitor a patient's basic vital signs and are commonly used in ambulatory surgery centers as mid-acuity patient monitors are designed to fulfill the needs of a variety of hospital settings, as they are simple and portable, and they may work for up to four hours without the need for an additional battery attachment.

End-Use (Hospitals, Ambulatory Surgical Centers, Homecare Settings)

The hospitals segment in the multiparameter patient monitoring market is set to garner a notable share of 41% during the forecast timeframe. Multiparameter patient monitoring devices are advanced monitoring equipment that are commonly integrated into bedside monitors in intensive care units, acute care units, and emergency rooms in hospitals they are used by healthcare professionals to continuously monitor patients' health, by simultaneously measuring and display the relevant vital parameters of patients suffering from critical illness.

Additionally, the homecare settings segment is expected to garner significant market share by the year 2037. The increased use of multiparameter monitoring devices in homecare settings allows healthcare clinicians to track illness progression and treatment efficacy and makes it easier to evaluate the health of patients before they are admitted to the hospital.

Our in-depth analysis of the global market includes the following segments: