Multi-parameter monitoring devices are used throughout hospitals for collecting data for monitoring and diagnostic purposes.
They measure patient vital signs, in addition to neurological, respiratory, anesthetic and hemodynamic statuses. The multi-parameter vital signs monitoring market consists of devices that perform continuous or intermittent data collection. This data may be analyzed and display notifications relating to a patient’s condition. This information allows clinicians to monitor changes to a patient’s status as a result of administered treatment or to help diagnose the patient.
General Report Contents • Market Analyses include: Unit Sales, ASPs, Market Value & Growth Trends
• Market Drivers & Limiters for each chapter segment
• Competitive Analysis for each chapter segment
• Section on recent mergers & acquisitions
The total market for multi-parameter vital sign monitoring included low-acuity, mid-acuity and high-acuity patient monitors, in addition to the associated central stations.
Growth in the total market will remain steady over the forecast period, motivated by continued investment in multi-parameter monitoring devices despite budgetary constraints. This trend reflects the strong push across all levels of healthcare to increase monitoring efforts as a means of improving patient safety and reducing complications through enhanced care provision.
Optimism is restricted, however, as hospitals look to curb excess capital expenditure in light of new, value-based, healthcare reimbursement models and the financial uncertainty this will bring over the forecast period.
Moreover, competitive pricing pressures are expected to persist as a result of low-cost foreign competitors that have been able to seize share in a price-sensitive market. High-acuity monitoring represented the majority of the total multi-parameter vital signs monitoring market. Although high-acuity monitoring is a mature market, it continues to consume the majority of hospital capital equipment budgets for monitoring devices, largely due to the high costs and the extra software and hardware options. This segment was followed by the low-, mid-acuity and central station monitoring segments.
Future growth in the market will be driven primarily by the expansion of the mid-acuity monitoring market as patients are being transferred out of higher acuity areas more quickly. Mid-acuity monitors, which are capable of performing invasive monitoring while maintaining a transportable size, are well positioned to play a role in addressing this on-going trend. Low-acuity monitoring, on the other hand, will remain largely stable as the market has become a replacement market of old equipment.
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