Multiparameter Patient Monitoring Market Share

North American Market Forecast

North America industry is predicted to account for largest revenue share of 42% by 2037, impelled by the increasing spending in healthcare. The United States spends far more on health than other high-income countries as the region spends about more than 15% of its GDP on health. 

This has led to an increase in the introduction of advanced multiparameter patient monitoring systems in the region. For instance, Royal Philips along with Masimo launched advanced monitoring capabilities for Philips high acuity patient monitors to assist doctors in making timely and informed judgments without the need for extra monitoring equipment and assist clinicians in easily assessing and monitoring blood saturation in the brain using the same monitor. According to estimates, in 2021, healthcare spending in the United States increased by more than 2% to around USD 4 trillion, or roughly USD 12,913 per person.

APAC Market Statistics

The APAC multiparameter patient monitoring market is estimated to be the second largest, during the forecast period led by increasing digitization in healthcare. Digital technology is a quickly changing landscape with the potential to transform healthcare in India since the Indian government is actively focused on eHealth/Digital Health to improve public healthcare in the country. Moreover, Digitization in the Indian health scene began with telemedicine in India that provides access to medical consultation from a remote location. Remote patient monitoring technology is being used by Indian health systems as advances in remote monitoring and home health technology are transforming the healthcare business which has to increase the demand for multi-parameter patient monitors (MPMs).