PUBLISHER: The Business Research Company | PRODUCT CODE: 1664515
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664515
Multi-parameter patient monitoring equipment refers to devices that consolidate various sets of information onto a single screen, offering comprehensive insights into a patient's vital signs and aiding in the patient's understanding of their medical status.
The primary product types of multi-parameter patient monitoring equipment include high-acuity monitors, critical care monitors, magnetic resonance imaging (MRI) compatible monitors, perioperative monitors, mid-acuity monitors, and low-acuity monitors. Perioperative monitors are particularly valuable tools for clinicians, helping identify patients at higher risk to reduce complication rates and potentially improve overall patient outcomes. These monitors find applications in cardiology, neurology, respiratory, fetal and neonatal monitoring, as well as other applications such as weight and temperature monitoring. Various end users, including hospitals, clinics, ambulatory surgical centers, and home healthcare, utilize this equipment.
The multi-parameter patient monitoring equipment market research report is one of a series of new reports from The Business Research Company that provides multi-parameter patient monitoring equipment market statistics, including global market size, regional shares, competitors with a multi-parameter patient monitoring equipment market share, detailed multi-parameter patient monitoring equipment market segments, market trends and opportunities, and any further data you may need to thrive in the multi-parameter patient monitoring equipment industry. This multi-parameter patient monitoring equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The multi-parameter patient monitoring equipment market size has grown strongly in recent years. It will grow from $9.14 billion in 2024 to $9.65 billion in 2025 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to rise in chronic diseases, aging population, patient safety concerns, hospital and healthcare facility expansion, focus on early disease detection, consumer awareness and demand.
The multi-parameter patient monitoring equipment market size is expected to see strong growth in the next few years. It will grow to $13.26 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to telemedicine expansion, focus on home healthcare, global health crises preparedness, focus on preventive healthcare, connected health ecosystem, global events and public health initiatives. Major trends in the forecast period include integration of wireless technologies, telehealth and remote patient monitoring, digital health platforms, smart alarms and alerts, artificial intelligence (AI) and machine learning (ml), interoperability standards.
The anticipated rise in chronic illnesses is poised to drive the expansion of the multi-parameter patient monitoring equipment market in the future. Chronic diseases, requiring frequent medical attention, can benefit from multi-parameter patient monitoring equipment, which assesses vital signs such as respiration rate, electrocardiograph, and blood pressure in chronic patients. As of July 2022, the Centers for Disease Control and Prevention notes that 6 out of 10 adults in the US have chronic diseases, with four out of ten suffering from more than two chronic conditions such as chronic lung cancer, heart disease, stroke, and diabetes. According to the United Nations, by 2030, chronic diseases are expected to account for approximately 70% of all deaths and nearly 56% of diseases globally. Thus, the rising prevalence of chronic illnesses is a key driver of the multi-parameter patient monitoring equipment market.
The increasing preference for wearable devices is expected to drive the growth of the multi-parameter patient monitoring equipment market in the coming years. Wearable devices are electronic gadgets or technologies designed to be worn on the body, often as accessories or integrated into clothing, to monitor health and fitness, provide information, and offer entertainment. In the context of multi-parameter patient monitoring equipment, these devices facilitate the early detection of health issues and can be integrated with mobile applications, allowing users to view and track their health data on smartphones or tablets. For example, in June 2023, Auxano Global Services, a U.S.-based non-governmental organization, reported that the global number of connected wearable devices grew from 929 million in 2021 to over 1.1 billion in 2022. Thus, the rising preference for wearable devices is significantly contributing to the growth of the multi-parameter patient monitoring equipment market.
A prominent trend gaining traction in the multi-parameter patient monitoring equipment market is technological advancements. Major companies in this market are actively developing innovative technologies to enhance their market position. For instance, in December 2022, Mindray, a China-based company operating in multi-parameter patient monitoring equipment, introduced the mWear system-a wearable patient monitoring solution. This system incorporates wireless monitoring technologies, including 6 essential vital signs powered by the Anti-Motion Algorithm, specialized health parameters, status indicators, and time analysis, allowing for continuous monitoring of patient conditions.
Major companies are adopting new technological products such as Dozee Pro Ex. Dozee Pro Ex, launched by Dozee in October 2023, is an ambulatory connected patient monitoring system equipped with wireless wearable sensors. This system provides continuous monitoring of vital parameters such as electrocardiogram (ECG) rhythm, blood pressure, heart rate/pulse rate, oxygen saturation, respiration rate, and temperature. Featuring an artificial intelligence (AI)-powered early warning system, Dozee Pro Ex tracks vital parameter trends and offers timely alerts for potential clinical deterioration.
In April 2023, Abbott Laboratories, a U.S.-based medical device company, announced its acquisition of Cardiovascular Systems Inc. for an undisclosed amount. This acquisition aims to strengthen Abbott's capabilities in vascular health, particularly in multi-parameter monitoring, by integrating CSI's advanced atherectomy system designed to prepare vessels for angioplasty or stenting to restore blood flow. Cardiovascular Systems Inc. is a U.S.-based medical device company that specializes in innovative atherectomy systems used for the treatment of peripheral and coronary artery disease.
Major companies operating in the multi-parameter patient monitoring equipment market include GE Healthcare Technologies Inc., Dragerwerk AG & Co. KGaA, Nihon Kohden Corporation, Schiller AG, Bosch Medical Solutions GmbH, AMD Global Telemedicine Inc., Mindray DS USA Inc., Spacelabs Healthcare, CAS Medical Systems Inc., Contec Medical Systems Co Ltd., Guangdong Biolight Meditech Company Limited, Natus Medical Incorporated, Masimo, Medtronic PLC, OSI System, Bio Medical Electronics, Koninklijke Philips NV, General Electric Company, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Omron Healthcare Inc., Hill-Rom Holdings Inc., Smiths Medical, ZOLL Medical Corporation
North America was the largest region in the multi-parameter patient monitoring equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the multi-parameter patient monitoring equipment market during the forecast period. The regions covered in the multi-parameter patient monitoring equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the multi-parameter patient monitoring equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The multi-parameter patient monitoring equipment market consists of sales of heart monitors, breath monitors, blood pressure monitors, and digital multi-parameter patient monitors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Multi-Parameter Patient Monitoring Equipment Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multi-parameter patient monitoring equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multi-parameter patient monitoring equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The multi-parameter patient monitoring equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.