Multiparameter Patient Monitoring Market Growth Analysis - $16.09 Billion Worth Market by 2030 – Arizton

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 

• In 2023, Philips collaborated with Masimo and received FDA approval to integrate SedLine brain function monitoring, regional oximetry, and CO₂ measurements into their IntelliVue MX750 and MX850 monitors. 
• In 2023, Baxter introduced the Starling Fluid Management Monitoring System that created new transformations in MPM devices, and positively influenced competition among vendors. 
• In 2023, the company partnered with Philips to integrate its patient monitoring technologies including SedLine Brain Function Monitoring and O3 Regional Oximetry, into Philips' IntelliVue MX750 and MX850 patient monitors. 
• Medtronic partnered with BioIntelliSense in 2022 to distribute multi-parameter wearables for patient monitoring applications in hospital and home-care settings. This collaboration marks Medtronic's commitment to expanding its remote monitoring capabilities and addressing the increasing demand for home healthcare solutions.  

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.  

Looking for More Information? Click: https://www.arizton.com/market-reports/multiparameter-patient-monitoring-market   

Key Vendors 

• Baxter 
• CONTEC MEDICAL SYSTEMS 
• GE HealthCare 
• Masimo 
• Medtronic 
• Shenzhen Mindray Bio-Medical Electronics 
• Nihon Kohden 
• OSI Systems 
• Koninklijke Philips N.V. 
• Advanced Instrumentations 
• American Diagnostic Corporation (ADC) 
• Biotronix Instruments 
• BPL Medical Technologies 
• Drägerwerk AG & Co 
• Edan Instruments 
• EPSIMED 
• Fukuda Denshi 
• Guangdong BioLite Meditech 
• Halma 
• ICU Medical 
• Infinium Medical 
• Innomed Medical Inc. 
• Lepu Medical Technology 
• Lutech Industries 
• Mediana 
• Medion 
• Mennen Medical Inc. 
• Nonin Medical, Inc. 
• RMS - Recorders & Medicare Systems 
• SCHILLER 
• Shenzhen Comen Medical Instruments Co. Ltd 
• Skanray Technologies 
• SternMed GmbH 
• Viatom Technology 
• ZOLL Medical Corporation  

Segmentation & Forecast 

Device Type 

• Portable /Compact Devices 
• Fixed Devices 

Acuity Level 

• High Acuity Level 
• Low Acuity Level 
• Mid-acuity Level 

Patient Group 

• Geriatric Patient Group 
• Young & Middle-aged 
• Pediatric Patient Group 

End-User 

• Hospitals 
• Ambulatory Care Settings 
• Homecare Settings 
• Other End-user 

Geography 

North America 

• The US 
• Canada 

Europe 

• Germany 
• France 
• The UK 
• Italy 
• Spain 

APAC 

• China 
• Japan 
• India 
• South Korea 
• Australia 

Latin America 

• Brazil 
• Mexico 
• Argentina 

Middle East & Africa 

• Turkey 
• Saudi Arabia 
• South 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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