ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research (TMR) has recently announced the publication of a research report on the global multi-parameter patient monitoring equipment market, estimating the market to expand at a CAGR of 4.40% during the period from 2015 to 2023 and reach a value of US$4.6 billion by the end of the forecast period.
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The report, titled “Multi-parameter Patient Monitoring Equipment Market (Acuity-level: High-acuity, Mid-acuity, and Low-acuity Monitors; End-users: Hospitals and Home Health Care) - Global Industry Analysis, Size, Share, Trends and Forecast 2015 – 2023”, states that the global market for multi-parameter patient monitoring equipment stood at US$3.1 billion in 2014.
The rising population of geriatrics, coupled with the increasing frequency of chronic diseases, is the key reason for the growth of the worldwide multi-parameter patient monitoring equipment market.
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The report analyzes this market on three fronts: acuity level, end users, and regional distribution. By acuity level, the high-acuity monitors segment held over 40% of the global market, occupying the leading position in 2014. However, the low-acuity monitors market is likely to report the fastest growth over the forecast period.
Hospitals were the biggest end users of multi-parameter patient monitoring equipment in 2014. This segment is anticipated to retain its position during the period from 2015 to 2023, cites the market study.
At present, North America is the leading multi-parameter patient monitoring equipment market among all the regions. However, the regional market is likely to lose ground to Asia Pacific, which is poised to register the highest growth over the forecast period.
According to the report, the global market for multi-parameter patient monitoring equipment is extremely fragmented in nature. GE Healthcare, Schiller, and Philips Healthcare are the major players in this market.
Medical Devices Market Research Reports: http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html
Transparency Market Research (TMR) is a U.S.-based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.