According to Arizton’s latest research report, the multiparameter patient monitoring market is growing at a CAGR of 6.97% during 2024-2030.
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Report Scope:
Market Size (2030): $16.09 Billion
Market Size (2024): $10.74 Billion
CAGR (2024-2030): 6.97%
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Market Segmentation: Device Type, Acuity Type, Patient Group, End-User and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
Market Overview
The global multiparameter patient monitors (MPM) market is experiencing significant growth driven by the aging population and the rising burden of chronic diseases such as cardiovascular diseases, diabetes, respiratory illnesses, and hypertension. These conditions require regular monitoring, fueling demand for MPMs. Advances in wireless monitoring, mobile health apps, and IoT-based devices are transforming patient monitoring services, making MPMs more accessible and efficient across various healthcare settings. The integration of advanced sensors, AI, and machine learning capabilities has further enhanced MPMs. Additionally, regulatory agencies like the FDA, CE, and TGA are ensuring safety and effectiveness through stringent certification processes, aiding market expansion. The increasing prevalence of chronic diseases, such as diabetes, obesity, and cardiovascular diseases, is driving higher demand for MPMs, with an estimated 850 million people affected by diabetes globally in 2024. Continuous monitoring helps improve patient outcomes, boosting the widespread adoption of MPM devices.
Growth of Remote Monitoring, Telehealth, and Digital Connectivity in Patient Monitoring
Remote monitoring has gained significant traction in patient care, driven by its ability to provide continuous monitoring, real-time data, and seamless connectivity through digital health technologies. Multiparameter patient monitors (MPMs) now feature telecommunication capabilities that enable remote patient monitoring via cloud-based platforms, improving accessibility and efficiency. This integration of telehealth and remote monitoring tools is accelerating the adoption of MPMs. According to Prevounce (2024), telehealth is a transformative health tech innovation, with over 115 million people expected to use remote patient monitoring by 2027, further propelling market growth. Additionally, a 2023 report from Now Health International found that more than 80% of people have used telemedicine at least once since the COVID-19 pandemic, and 74% of millennials prefer teleconsultations for health monitoring. These trends highlight the growing importance of digital connectivity and remote monitoring in enhancing patient care.
Recent Vendors Activities
Portable/Compact Devices Gaining Popularity in the Market
In 2024, the portable/compact devices segment captured a 57.68% share of the global multiparameter patient monitoring market. The demand for portable/compact MPM devices is expanding due to technological advancements and their growing use in remote, ambulatory, and home patient monitoring settings. The rising incidence of healthcare-associated infections (HAIs), which affect about 1 in 10 patients globally, has further increased the need for home and remote monitoring solutions. Additionally, the growth of ambulatory surgery centers (ASCs), which account for over 30% of annual surgical procedures in the US, is contributing to the demand for portable MPM devices. With over 50 million people in the US already using remote patient monitoring devices and projections showing 115 million users by 2027, the portable MPM segment is poised for significant growth. This trend is driven by advancements in technology and a rising need for flexible, patient-focused healthcare solutions.
North America: The Powerhouse in the Multiparameter Patient Monitors (MPM) Market
In 2024, North America accounted for 65.53% of the global multiparameter patient monitors (MPM) market share, driven by high healthcare expenditure, particularly in chronic disease management. The US, as the largest economy in the region, is the primary contributor to this revenue, with significant demand for continuous patient monitoring solutions. Cardiovascular diseases, affecting over 135 million people in North America, have spurred the demand for heart health monitoring devices. Additionally, the growing use of wearable devices, health trackers, and mobile applications is enhancing access to remote monitoring. With advanced cardiac healthcare services and a high prevalence of chronic conditions, North America remains a key market for next-generation MPMs. Leading vendors, including Medtronic, Masimo, GE Healthcare, and Philips, play a pivotal role in this market’s growth.
Key Vendors
Segmentation & Forecast
Device Type
Acuity Level
Patient Group
End-User
Geography
North America
Europe
APAC
Latin America
Middle East & Africa
What Key Findings Will Our Research Analysis Reveal?
What is the expected growth of the global multiparameter patient monitoring market?
Which device type will dominate the global multiparameter patient monitoring market growth?
What are the factors driving the global multiparameter patient monitoring market growth?
Which region holds the largest global multiparameter patient monitoring market share?
Who are the major players in the global multiparameter patient monitoring market?
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