The Market size of Multipara Monitor in India

Posted on 28 Aug 2021

Are you gathering information on Multipara Monitor? Production, Demand, and Supply of Multipara Monitor in India? In this article, Hospaccx Healthcare Consultancy has mapped all the information you are looking for.

Introduction:

In terms of medical science monitoring is an observation of patients based on disease, condition on one, or several medical parameters over time. The multi-parameter monitors are designed to give several information on one screen and hence provide multiple information that is needed to understand the patient’s condition. Clinical care depends on monitoring. Vital signs monitors transmit data wirelessly directly to the electronic patient record, generating alerts if data is outside pre-set parameters. The patient monitor market is expanding the user base in the hospital and expanding use in rehab centres, clinical settings, and home.

Patient Monitor markets are expected to achieve significant growth as a resurgence in tracking vital signs extends from the intensive care unit ICU and emergency department to all areas of the hospital

The most commonly monitored parameters using this device are:

Cardiac Monitoring: Assessment of Cardiac Rhythm.
Hemodynamic Monitoring: Blood pressure and blood flow monitoring.
Respiratory Monitoring: Measurement of saturated percentage of oxygen in blood flow.
Neurological Monitoring: Brain EEG monitoring
Blood Glucose Monitoring: Blood glucose level.
Body Temperature monitoring.

Market Scenario:

Market growth occurs with the expansion of multi-parameter patient monitors connected to a central station beyond the intensive care unit to all floors of a hospital. Patient monitor markets at $11 billion in 2015 are expected to reach $26.2 billion by 2022. Strong growth is predicted on the increasing reliance on multi- parameter patient monitors in every bed of the hospital, in multiple areas of
specialised clinics, and many rehab centres.The market is in a mature phase, companies operating in this industry try to introduce innovations by creating product differentiation. Recently developed
technologically advanced multi-parameter patient monitoring devices that have proven beneficial for the industry growth.

Top Multipara Monitor Suppliers and Manufacturers in India:

Universe
Technocare Medisystem
K-Life
Surgihun
GE Healthcare
Meditech England
Contact

Growth drivers for multipara monitors in the Indian market:

Rising incidences of chronic diseases in developed as well as developing regions.
Increasing awareness regarding the availability of technologically advanced multi-parameter monitors in Asia Pacific
Rising adoption of portable home multi-parameter patient monitoring devices.
Integration of advanced technology within the multi-parameter monitors. Demand, Supply, and Market Position In terms of Indian Market.

Multi-parameter Patient Monitoring Market size was valued at USD 8.7 billion in 2018 and is expected Fixed multi-parameter patient monitors will witness the growth of 4.0% from 2019 to 2025. Rising prevalence of chronic diseases such as cancer and diabetes in developed as well as developing regions drives the demand for multi-parameter patient monitoring devices.

India and China will surge the industry growth in the foreseeable future. Portable monitors were valued at USD 5.7 billion in 2018 and are expected to retain its dominant position in the industry throughout the analysis period.

India market is estimated to grow at 4.6% from 2019 to 2025. Considerable industry growth is due to the increasing demand for high-acuity multi-parameter patient monitors in intensive care units.
Competitive Market Share Some of the key players in the global multi-parameter patient monitoring market is Epsimed, KizlonMedical, Mediana, Medion Healthcare, Medtronics, Mindray, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, Spacehealth Labs and VOTEM. Prominent industry players adopt strategies including acquisitions, mergers, distribution agreements and innovative product launches to strengthen product portfolio and garner higher market share. For instance, in November 2016, Philips agreed with Masimo to expand its offering inpatient monitoring devices.

Conclusion:

Lifestyle is supported by patient monitor market products that support earlier detection of disease conditions. Increasing market share has been achieved by providing value to the clinicians. The technical expertise of the sales force, the effectiveness of the distribution system, the strength of the dealers, and the availability of prompt and reliable service for products when addressed can help
patient monitor market vendors achieve competitive advantage. Some of the well-established industry players such as GE Healthcare and Medtronic have developed technologically advanced multi-parameter patient monitors that enable accurate analysis and efficient detection of various
parameters. India is an emerging country with a large elderly population base that suffers from chronic diseases and infections that proves beneficial for industry growth.

If you need any support for the procurement of Multipara Monitor for your healthcare organisation in India you can contact us: Hospaccx healthcare business consulting Pvt. Ltd