Multi-Parameter Monitoring Market Driven by Home-Based Patients
|
By HospiMedica International staff writers Posted on 01 Jun 2019 |
|
Image: Research shows aging patients who are unable to reach out to hospitals are propelling the demand for multi-parameter patient monitoring devices and services (Photo courtesy of Boston Scientific).
The global multi-parameter patient monitoring market is projected to register a CAGR of 5% over 2019-2024, driven mainly by rapid growth of the aging population across the world that is directly contributing to the growth of these devices.
Additionally, rising awareness about healthcare and increasing concern for the constant monitoring of health parameters of patients, pre-and post-surgery are also aiding the market growth. These are the latest findings of Research and Markets, (Dublin, Ireland), a global market research company.
Declining mortality and fertility has resulted in a comparative decline in the proportion of children and an increase in the working as well as elderly population. Aged patients who are unable to reach out to hospitals are propelling the demand for multi-parameter patient monitoring devices and services.
As a result, the market for remote patient monitoring, wireless devices and homecare healthcare services provided with the help of connectivity, such as Wi-Fi and cloud, is growing rapidly. The rising incidence of chronic diseases due to lifestyle changes, need to contain healthcare expenditure, demand for home-based monitoring devices, and ease of use and portability of devices are also driving the growth of the multi-parameter patient monitoring market.
Based on type, the portable monitors segment is expected to dominate the global multi-parameter patient monitoring market during the forecast period, led by the growth in home healthcare, ease of monitoring post-surgical recovery patients, rising ambulatory care facilities, and increasing adoption of remote patient monitoring. Additionally, intensifying competition among the major market players due to growing technological advancements is expected to help the portable monitors segment maintain its dominance during the forecast period.
Geographically, North America dominated the global multi-parameter patient monitoring market in 2017, with the US holding the largest share in the region due to the high quality of healthcare system and modern medical technology in the country. The North American multi-parameter patient monitoring market is expected to maintain its dominance during the forecast period, aided by the presence of a high percentage of elderly population in the region.
Related Links:
Research and Markets
Additionally, rising awareness about healthcare and increasing concern for the constant monitoring of health parameters of patients, pre-and post-surgery are also aiding the market growth. These are the latest findings of Research and Markets, (Dublin, Ireland), a global market research company.
Declining mortality and fertility has resulted in a comparative decline in the proportion of children and an increase in the working as well as elderly population. Aged patients who are unable to reach out to hospitals are propelling the demand for multi-parameter patient monitoring devices and services.
As a result, the market for remote patient monitoring, wireless devices and homecare healthcare services provided with the help of connectivity, such as Wi-Fi and cloud, is growing rapidly. The rising incidence of chronic diseases due to lifestyle changes, need to contain healthcare expenditure, demand for home-based monitoring devices, and ease of use and portability of devices are also driving the growth of the multi-parameter patient monitoring market.
Based on type, the portable monitors segment is expected to dominate the global multi-parameter patient monitoring market during the forecast period, led by the growth in home healthcare, ease of monitoring post-surgical recovery patients, rising ambulatory care facilities, and increasing adoption of remote patient monitoring. Additionally, intensifying competition among the major market players due to growing technological advancements is expected to help the portable monitors segment maintain its dominance during the forecast period.
Geographically, North America dominated the global multi-parameter patient monitoring market in 2017, with the US holding the largest share in the region due to the high quality of healthcare system and modern medical technology in the country. The North American multi-parameter patient monitoring market is expected to maintain its dominance during the forecast period, aided by the presence of a high percentage of elderly population in the region.
Related Links:
Research and Markets
Gold Member
SARS‑CoV‑2/Flu A/Flu B/RSV Sample-To-Answer Test
SARS‑CoV‑2/Flu A/Flu B/RSV Cartridge (CE-IVD)
Gold Member
POC Blood Gas Analyzer
Stat Profile Prime Plus
Silver Member
Wireless Mobile ECG Recorder
NR-1207-3/NR-1207-E
New
Pre-Op Planning Solution
Sectra 3D Trauma
Latest Business News
- Johnson & Johnson Acquires Cardiovascular Medical Device Company Shockwave Medical
- Mindray to Acquire Chinese Medical Device Company APT Medical
- Olympus Acquires Korean GI Stent Maker Taewoong Medical
- Karl Storz Acquires British AI Specialist Innersight Labs
- Stryker to Acquire French Joint Replacement Company SERF SAS
- Medical Illumination Acquires Surgical Lighting Specialist Isolux
- 5G Remote-Controlled Robots to Enable Even Cross-Border Surgeries
- International Hospital Federation Announces 2023 IHF Award Winners
- Unprecedented AI Integration Transforming Surgery Landscape, Say Experts
- New WHO Guidelines to Revolutionize AI in Healthcare
- Getinge Acquires US-Based Medical Equipment Provider Healthmark Industries
- Global Surgical Lights Market Driven by Increasing Number of Procedures
- Global Capsule Endoscopy Market Driven by Demand for Accurate Diagnosis of Gastrointestinal Conditions
- Global OR Integration Market Driven by Need for Improved Workflow Efficiency and Productivity
- Global Endoscopy Devices Market Driven by Increasing Adoption of Endoscopes in Surgical Procedures
- Global Minimally Invasive Medical Devices Market Driven by Benefits of MIS Procedures
Channels
Artificial Intelligence
view channel
AI-Powered Algorithm to Revolutionize Detection of Atrial Fibrillation
Atrial fibrillation (AFib), a condition characterized by an irregular and often rapid heart rate, is linked to increased risks of stroke and heart failure. This is because the irregular heartbeat in AFib... Read more
AI Diagnostic Tool Accurately Detects Valvular Disorders Often Missed by Doctors
Doctors generally use stethoscopes to listen for the characteristic lub-dub sounds made by heart valves opening and closing. They also listen for less prominent sounds that indicate problems with these valves.... Read more
Critical Care
view channel
Powerful AI Risk Assessment Tool Predicts Outcomes in Heart Failure Patients
Heart failure is a serious condition where the heart cannot pump sufficient blood to meet the body's needs, leading to symptoms like fatigue, weakness, and swelling in the legs and feet, and it can ultimately... Read more
Peptide-Based Hydrogels Repair Damaged Organs and Tissues On-The-Spot
Scientists have ingeniously combined biomedical expertise with nature-inspired engineering to develop a jelly-like material that holds significant promise for immediate repairs to a wide variety of damaged... Read more
One-Hour Endoscopic Procedure Could Eliminate Need for Insulin for Type 2 Diabetes
Over 37 million Americans are diagnosed with diabetes, and more than 90% of these cases are Type 2 diabetes. This form of diabetes is most commonly seen in individuals over 45, though an increasing number... Read more
Surgical Techniques
view channel
Miniaturized Implantable Multi-Sensors Device to Monitor Vessels Health
Researchers have embarked on a project to develop a multi-sensing device that can be implanted into blood vessels like peripheral veins or arteries to monitor a range of bodily parameters and overall health status.... Read more
Tiny Robots Made Out Of Carbon Could Conduct Colonoscopy, Pelvic Exam or Blood Test
Researchers at the University of Alberta (Edmonton, AB, Canada) are developing cutting-edge robots so tiny that they are invisible to the naked eye but are capable of traveling through the human body to... Read more
Miniaturized Ultrasonic Scalpel Enables Faster and Safer Robotic-Assisted Surgery
Robot-assisted surgery (RAS) has gained significant popularity in recent years and is now extensively used across various surgical fields such as urology, gynecology, and cardiology. These surgeries, performed... Read more
Patient Care
view channel
First-Of-Its-Kind Portable Germicidal Light Technology Disinfects High-Touch Clinical Surfaces in Seconds
Reducing healthcare-acquired infections (HAIs) remains a pressing issue within global healthcare systems. In the United States alone, 1.7 million patients contract HAIs annually, leading to approximately... Read more
Surgical Capacity Optimization Solution Helps Hospitals Boost OR Utilization
An innovative solution has the capability to transform surgical capacity utilization by targeting the root cause of surgical block time inefficiencies. Fujitsu Limited’s (Tokyo, Japan) Surgical Capacity... Read more
Game-Changing Innovation in Surgical Instrument Sterilization Significantly Improves OR Throughput
A groundbreaking innovation enables hospitals to significantly improve instrument processing time and throughput in operating rooms (ORs) and sterile processing departments. Turbett Surgical, Inc.... Read more
Health IT
view channel
Machine Learning Model Improves Mortality Risk Prediction for Cardiac Surgery Patients
Machine learning algorithms have been deployed to create predictive models in various medical fields, with some demonstrating improved outcomes compared to their standard-of-care counterparts.... Read more
Strategic Collaboration to Develop and Integrate Generative AI into Healthcare
Top industry experts have underscored the immediate requirement for healthcare systems and hospitals to respond to severe cost and margin pressures. Close to half of U.S. hospitals ended 2022 in the red... Read more
AI-Enabled Operating Rooms Solution Helps Hospitals Maximize Utilization and Unlock Capacity
For healthcare organizations, optimizing operating room (OR) utilization during prime time hours is a complex challenge. Surgeons and clinics face difficulties in finding available slots for booking cases,... Read more
AI Predicts Pancreatic Cancer Three Years before Diagnosis from Patients’ Medical Records
Screening for common cancers like breast, cervix, and prostate cancer relies on relatively simple and highly effective techniques, such as mammograms, Pap smears, and blood tests. These methods have revolutionized... Read morePoint of Care
view channel
Critical Bleeding Management System to Help Hospitals Further Standardize Viscoelastic Testing
Surgical procedures are often accompanied by significant blood loss and the subsequent high likelihood of the need for allogeneic blood transfusions. These transfusions, while critical, are linked to various... Read more
Point of Care HIV Test Enables Early Infection Diagnosis for Infants
Early diagnosis and initiation of treatment are crucial for the survival of infants infected with HIV (human immunodeficiency virus). Without treatment, approximately 50% of infants who acquire HIV during... Read more
Whole Blood Rapid Test Aids Assessment of Concussion at Patient's Bedside
In the United States annually, approximately five million individuals seek emergency department care for traumatic brain injuries (TBIs), yet over half of those suspecting a concussion may never get it checked.... Read more