DUBLIN, March 7, 2023 /PRNewswire/ -- The "Global Multiparameter Patient Monitoring Systems Market Size, Share & Industry Trends Analysis Report by End-use, Acuity Level (High, Medium and Low), Device Type, Age Group (Geriatric, Pediatric and Adult), Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Multiparameter Patient Monitoring Systems Market size is expected to reach $15.5 billion by 2028, rising at a market growth of 5.8% CAGR during the forecast period.
Key Market Players
Koninklijke Philips N.V.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Dragerwerk AG & Co. KGaA
Skanray Technologies Ltd.
Smiths Medical (ICU Medical, Inc.)
These devices are meant to give the number of data sets on one screen to comprehend the patient's status. Multi-parameter patient monitoring equipment is used to assess the vital signs of patients who are suffering from a serious illness. central venous pressure.
These monitor central venous pressure and give readings such as heart rate, non-invasive blood pressure, invasive blood pressure, respiratory rate, posture, temperature, and fall detection.
Other readings include ECG, SpO2, PaCO2, invasive blood pressure, and invasive blood pressure. The monitor has an alarm that allows the parameters to be set, and it will warn the caregiver if a change goes beyond the established parameters.
In a variety of hospital settings, such as the coronary care unit, the intensive care unit (ICU), the neonatal intensive care unit (NICU), post-operative care, and the operating room (OR), multi-parameter monitoring devices are designed to be utilized to supply additional information to the medical and nursing staff regarding the physiological condition of the patient.
Patients spend less time in intensive care units due to multi-parameter patient monitoring devices, which also improve the utilization of hospital infrastructure. These devices also shorten the number of time patients spend in the hospital, which results in earlier diagnosis of patient conditions. High-acuity, mid-acuity, and low-acuity devices are the three categories that can be assigned to multi-parameter monitoring systems. These categories are determined by the sorts of hospital settings in which the systems are used.
Acuity levels are used to assist medical professionals in acute care, long-term care, and other treatment and rehabilitation settings in the process of determining optimal staffing levels. Patients might not receive the level of treatment that their current state of health requires if this system were not in place. Because of this, acuity levels become more significant while dealing with a restricted number of staff members.
COVID-19 Impact Analysis
In the pandemic condition caused by COVID-19, it was very crucial to monitor oxygen saturation as well as the rate of breathing to establish whether or not the lung tissue is being impacted.
After infection with COVID-19, some patients may suffer from cardiac abnormalities throughout all areas, and recent research suggests that remote patient monitoring may be the best way to evaluate and treat patients in the future.
To properly care for the afflicted population, there is a growing demand for various types of medical supplies. In primary clinical care, the majority of the medical equipment that is utilized are those that provide support for respiratory function. Because of these and other considerations, it is anticipated that COVID-19 will have a substantial influence on the market for multi-parameter patient monitoring.
Market Growth Factors
A greater number of people suffering from chronic conditions
The burden of chronic illnesses is increasing all over the world, and multiparameter patient monitors play a crucial part in the accurate monitoring of an individual's health in response to this trend. Cancer, diabetes, and other chronic diseases including cardiovascular disease and obesity are responsible for the majority of deaths caused by chronic disorders. Some of the risk factors that can contribute to cancer include not getting enough exercise, breathing polluted air, using cigarette products, drinking too much alcohol, and eating poorly.
An ever-increasing proportion of elderly people
The average lifespan of people across the world is increasing. In today's world, the average person may anticipate living well into their sixties and beyond. Every country iis seeing a rise in the total number of elderly people as well as the percentage of the total population that is made up of elderly people. By the year 2030, one in every six persons on the planet will be at least 60 years old. The percentage of the world's population that is 60 years old or older is expected to rise from 1 billion in the year 2020 to 1.4 billion in the year 2050.
Market Restraining Factors
Lack of skilled healthcare professionals
People who work directly with patients and play an important part in the functioning of a healthcare system are intended to serve as the first line of defense in the fight against widespread pandemic. The fact that some of the nations that make up the Asia Pacific area do not have the necessary quantity of trained experts for the treatment and handling of patients is one of the obstacles that continue to impede the expansion of markets within the region.
According to the World Health Organization (WHO), there will be a shortage of 15 million health professionals by the year 2030, the majority of which will be in countries with poor and lower-middle incomes.
Scope of the Study
By Acuity Level
By Device Type
By Age Group
For more information about this report visit www.researchandmarkets.com/r/zb6hmi
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