2014-03-26 08:31:01 - Global Multiparameter Patient Monitoring Equipment Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Multiparameter Patient Monitoring Equipment market is to grow at a CAGR of 3.53 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growth in aging population. The Global Multiparameter Patient Monitoring Equipment market has also been witnessing technological advancements. However, the high price and low accuracy of remote patient monitoring Systems could pose a challenge to the growth of this market.
The increased focus on R&D has introduced multiparameter monitoring devices with advanced measuring capabilities, offering cost-effective solutions. For instance, various parameters, such as depth analysis of anesthesia, invasive blood pressure, spirometer, and cardiac output, are being incorporated into the monitoring devices. Additionally, there has been an integration of remote-control functionality
and alarm management functions into these monitoring devices to increase patient safety. Further, monitors with intuitive touchscreen and clear display, and one-touch command are being introduced to enable ease of use. Thus, increase in technological advancement is expected to drive the Global Multiparameter Patient Monitoring Equipment market during the forecast period.
One of the major drivers is the increased growth in aging population. The increasing aging population is contributing to the growth of the Global Multiparameter Patient Monitoring Equipment market. Multiparameter patient monitors enable faster detection and monitoring of critical illnesses. The number of patients suffering from critical diseases is growing, owing to the increasing aging population, both in the developing and developed nations.
One of the most important challenges faced by the market is the high price and low accuracy of RPM equipment. Various small vendors do not have the required budget for capitalizing on high-end research devices; hence, settle for low-cost alternative devices.
The key vendors dominating this market space are Draegerwerk AG & Co. KGaA, GE Healthcare, Omron Healthcare Co. Ltd., Philips Healthcare, and Spacelabs Healthcare Inc.
Other vendors are A&D Company Ltd., CAS Medical Systems Inc., Contec Medical Systems Co. Ltd., Edwards Lifesciences Corp., GE Healthcare Ltd., Johnson & Johnson, Larsen & Toubro Ltd., and Schiller AG.
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