The North America Multiparameter Patient Monitoring Systems Market should witness market growth of 4.6% CAGR during the forecast period (2022-2028).
Patients in critical condition are given higher acuity ratings, whilst patients in relatively good health are given intermediate and lower ratings. Every patient in the high acuity unit requires constant surveillance and attention. The high acuity monitoring systems are equipped with alarm features, which are activated whenever the parameters for the patient are outside the "safe range" configured for that particular parameter setting.
The increasing number of patients admitted to various departments of a hospital, such as emergency rooms, intensive care units (ICUs), and operating theatres, has resulted in the requirement for the implementation of these systems (OT). Mid-acuity patient monitors are designed to accommodate the requirements of a variety of hospital environments, including emergency departments, recovery units, sub-acute modules, and general wards, among others.
For the monitoring of a patient's most fundamental vital signs, low-acuity instruments are typically utilized. In ambulatory surgical centers and hospitals that are covered by the public sector, low-acuity monitors typically have a high preference because of their lower prices when compared to high-acuity multi-parameter patient monitors. This is because low-acuity monitors can measure fewer parameters at once.
In addition, there is a focus on enhancing care in low-acuity settings, such as general wards, in countries such as the United States. This is because it will enable patients to be moved from more expensive high-acuity wards sooner, while still ensuring that they receive the necessary care through monitoring and observation. There is a growing need for low-acuity monitors, which are used to ensure that every patient is watched at all times.
Canada's healthcare expenditures make for more than a quarter of its gross domestic product. The majority of this cash will be allocated to the three leading causes of death such as cardiovascular disease, cancer, and respiratory illness. In Canada's hybrid public-private healthcare system, the public sector pays for healthcare services provided by the private sector. Each province and territory are accountable for its healthcare system inside Canada. Consequently, the organization, operation, and sourcing of healthcare differed from province to province. In Canada, hospitals and other healthcare facilities may purchase their equipment, supplies, and services independently or via group buying organizations (GPOs) or shared services organizations (SSOs).
The US market dominated the North America Multiparameter Patient Monitoring Systems Market by Country in 2021; thereby, achieving a market value of $4.1 billion by 2028. The Canada market is experiencing a CAGR of 6.9% during (2022-2028). Additionally, The Mexico market would exhibit a CAGR of 6% during (2022-2028).
Based on End-Use, the market is segmented into Hospitals, Homecare Settings, Ambulatory Surgical Centers and Others. Based on Acuity Level, the market is segmented into High, Medium and Low. Based on Device Type, the market is segmented into Portable and Fixed. Based on Age Group, the market is segmented into Geriatric, Pediatric and Adult. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., GE Healthcare, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Drägerwerk AG & Co. KGaA, Medtronic PLC, Masimo Corporation, Skanray Technologies Ltd., Schiller AG, Spacelabs Healthcare and Smiths Medical (ICU Medical, Inc.)
Patients in critical condition are given higher acuity ratings, whilst patients in relatively good health are given intermediate and lower ratings. Every patient in the high acuity unit requires constant surveillance and attention. The high acuity monitoring systems are equipped with alarm features, which are activated whenever the parameters for the patient are outside the "safe range" configured for that particular parameter setting.
The increasing number of patients admitted to various departments of a hospital, such as emergency rooms, intensive care units (ICUs), and operating theatres, has resulted in the requirement for the implementation of these systems (OT). Mid-acuity patient monitors are designed to accommodate the requirements of a variety of hospital environments, including emergency departments, recovery units, sub-acute modules, and general wards, among others.
For the monitoring of a patient's most fundamental vital signs, low-acuity instruments are typically utilized. In ambulatory surgical centers and hospitals that are covered by the public sector, low-acuity monitors typically have a high preference because of their lower prices when compared to high-acuity multi-parameter patient monitors. This is because low-acuity monitors can measure fewer parameters at once.
In addition, there is a focus on enhancing care in low-acuity settings, such as general wards, in countries such as the United States. This is because it will enable patients to be moved from more expensive high-acuity wards sooner, while still ensuring that they receive the necessary care through monitoring and observation. There is a growing need for low-acuity monitors, which are used to ensure that every patient is watched at all times.
Canada's healthcare expenditures make for more than a quarter of its gross domestic product. The majority of this cash will be allocated to the three leading causes of death such as cardiovascular disease, cancer, and respiratory illness. In Canada's hybrid public-private healthcare system, the public sector pays for healthcare services provided by the private sector. Each province and territory are accountable for its healthcare system inside Canada. Consequently, the organization, operation, and sourcing of healthcare differed from province to province. In Canada, hospitals and other healthcare facilities may purchase their equipment, supplies, and services independently or via group buying organizations (GPOs) or shared services organizations (SSOs).
The US market dominated the North America Multiparameter Patient Monitoring Systems Market by Country in 2021; thereby, achieving a market value of $4.1 billion by 2028. The Canada market is experiencing a CAGR of 6.9% during (2022-2028). Additionally, The Mexico market would exhibit a CAGR of 6% during (2022-2028).
Based on End-Use, the market is segmented into Hospitals, Homecare Settings, Ambulatory Surgical Centers and Others. Based on Acuity Level, the market is segmented into High, Medium and Low. Based on Device Type, the market is segmented into Portable and Fixed. Based on Age Group, the market is segmented into Geriatric, Pediatric and Adult. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., GE Healthcare, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Drägerwerk AG & Co. KGaA, Medtronic PLC, Masimo Corporation, Skanray Technologies Ltd., Schiller AG, Spacelabs Healthcare and Smiths Medical (ICU Medical, Inc.)
Scope of the Study
By End-Use
- Hospitals
- Homecare Settings
- Ambulatory Surgical Centers
- Others
By Acuity Level
- High
- Medium
- Low
By Device Type
- Portable
- Fixed
By Age Group
- Geriatric
- Pediatric
- Adult
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Koninklijke Philips N.V.
- GE Healthcare
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Drägerwerk AG & Co. KGaA
- Medtronic PLC
- Masimo Corporation
- Skanray Technologies Ltd.
- Schiller AG
- Spacelabs Healthcare
- Smiths Medical (ICU Medical, Inc.)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. North America Multiparameter Patient Monitoring Systems Market by End-Use
Chapter 5. North America Multiparameter Patient Monitoring Systems Market by Acuity Level
Chapter 6. North America Multiparameter Patient Monitoring Systems Market by Device Type
Chapter 7. North America Multiparameter Patient Monitoring Systems Market by Age Group
Chapter 8. North America Multiparameter Patient Monitoring Systems Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Koninklijke Philips N.V.
- GE Healthcare
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Drägerwerk AG & Co. KGaA
- Medtronic PLC
- Masimo Corporation
- Skanray Technologies Ltd.
- Schiller AG
- Spacelabs Healthcare
- Smiths Medical (ICU Medical, Inc.)
Methodology
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