Increasing Incidences of Chronic Diseases Boost Adoption Rates in Multi-Parameter Patient Monitoring Market

Multi-parameter patient monitoring systems are rapidly
gaining traction in the healthcare industry with the high emphasis being put on
quality of health care services for patients. Vital parameters such as blood
pressure, heart rate, oxygen saturation, and respiration rate have inherent
relationships with each other, and the right balance of these factors is very
important for maintaining good health in a person.

Multi-parameter patient monitoring systems are finding extensive use in hospital settings of intensive care units and general wards. These systems aim to minimize false alarms, while also interrelating the effect of changes on one vital health parameter with the others, to alert healthcare professionals about possible risks, at an early stage.

Frequent advancements in technology are making
multi-parameter patient monitoring systems popular among users with mobile and
wireless devices. Other factors that are contributing to the growth of the
global multi-parameter patient monitoring market can include:

  1. The multi-parameter patient monitoring market is
    largely consolidated on a global scale, with a limited number of major market
    players holding control over approximately 60 per cent of total market share in
    terms of revenue. Most major players are focusing their efforts towards sales
    in developed countries of North America and Europe. In addition,
    cost-differentiation is projected to be a key strategy by player for the
    foreseeable future.
  2. Recent years have witnessed an increased demand
    for intensive care units in hospital settings owing to the rise in respiratory,
    cardiac, and neurological conditions in this period. Consequently, constant
    bed-side monitoring capabilities are gaining traction, and is building on the
    prospects for the near future.
  3. The global population of geriatrics is expanding
    at a very rapid rate. In addition, this demographic of the global population is
    also at a higher risk for being afflicted with chronic diseases such as asthma,
    cancer, COPD, and diabetes, owing to loss of resistance to infections. This is
    an important factor that contributes to the overall growth of the market.

 In a related note the Asia Pacific region is expected to dominate the multi-parameter patient monitoring market, owing to its high population of elderly, especially in countries such as China and India.

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