Multiparameter Patient Monitoring Market Size

Multiparameter Patient Monitoring Market size was valued at USD 12.77 billion in 2024 and is expected to reach USD 25.93 billion by 2037, expanding at around 5.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of multiparameter patient monitoring is evaluated at USD 13.34 billion. The reason behind the growth is due to the rising cases of chronic diseases. Healthcare providers can closely monitor patients with chronic diseases using multiparameter patient monitoring systems since it is effective for monitoring patients' acute and chronic illnesses and helps to reduce treatment costs in critically ill patients. According to the World Health Organization (WHO), Noncommunicable diseases (NCDs) kill around 41 million people per year, accounting for 74% of all deaths worldwide.

The growing advancements in wearable technology are believed to fuel the market growth. Technological advancements such as biostickers, artificial intelligence (AI), wearable patient monitoring devices, for multi-parameter diagnosis and monitoring, and wireless neonatal body monitors have resulted in patient monitoring devices that provide faster, more accurate results, and their use in healthcare has given rise to the concept of "smart health."