Summary

North America holds the largest market share globally in 2022. This indicates the widespread adoption and high demand for multiparameter patient monitoring systems in the region. North America is at the forefront of technological advancements in healthcare. The region has witnessed continuous innovation in multiparameter patient monitoring devices, leading to the development of more accurate and efficient systems. Multiparameter monitoring devices are often integrated with electronic health record systems, enabling seamless data transfer and improving the efficiency of healthcare delivery. This integration contributes to better coordination of care and facilitates informed decision-making by healthcare professionals. The medical device industry in North America is subject to regulatory oversight, with organizations like the U.S. Food and Drug Administration (FDA) ensuring that multiparameter monitoring devices meet safety and efficacy standards. Compliance with these regulations is crucial for market entry and sustained success. The aging population in North America has been a significant driver for the growth of multiparameter patient monitoring devices. As people age, there is an increased likelihood of developing chronic conditions and requiring continuous monitoring of vital signs. The rising prevalence of chronic diseases such as cardiovascular disorders, diabetes, respiratory illnesses, and hypertension has fuelled the demand for multiparameter monitoring devices. These devices help healthcare providers manage and monitor patients with chronic conditions more effectively. Healthcare providers are increasingly focused on enhancing patient outcomes and reducing hospital readmissions. Multiparameter patient monitoring allows for early detection of changes in a patient's condition, enabling timely interventions and personalized care plans, ultimately contributing to improved outcomes. Multiparameter monitoring devices are increasingly being integrated with electronic health record systems. This integration streamlines the flow of patient data, enhances interoperability, and supports more comprehensive and informed decision-making by healthcare providers.

According to the research report "North America Multiparameter Patient Monitoring Market Outlook, 2028," published by Bonafide Research, the North America Multiparameter Patient Monitoring market is expected to grow with more than 4% CAGR from 2023 to 2028. The expansion of telehealth and virtual care services has increased the demand for multiparameter patient monitoring devices. These devices enable remote monitoring of patients during virtual consultations, supporting more comprehensive and accurate assessments. The integration of artificial intelligence and predictive analytics into multiparameter patient monitoring devices has become more prevalent. These technologies enhance the analysis of patient data, allowing for early detection of trends and potential health issues. Wearable devices, such as smartwatches and fitness trackers, have evolved beyond simple step counting. They now incorporate advanced sensors to monitor a range of health metrics. Users can track parameters like heart rate, sleep patterns, physical activity, calories burned, and more. Sleep tracking is a common feature in many wearables. These devices use accelerometers and other sensors to monitor movement patterns during sleep, providing users with information about their sleep duration, sleep cycles, and the quality of their sleep. Some advanced wearables incorporate SpO2 (blood oxygen saturation) monitoring. This feature is particularly relevant in assessing respiratory health and can be useful in detecting issues such as sleep apnea or other breathing-related conditions. Stress tracking is becoming more prevalent in wearables. These devices use a combination of heart rate variability and other physiological markers to estimate the user's stress levels. Users receive feedback and insights on stress patterns, and some devices offer guided relaxation exercises. Certain high-end smartwatches have integrated ECG functionality. This feature allows users to take an electrocardiogram directly from their wrist, providing insights into heart rhythm and potentially detecting conditions like atrial fibrillation. Wearable devices often sync with companion mobile apps, allowing users to view and analyse their health data over time. This integration enhances the user experience and provides a comprehensive overview of their well-being.
The multiparameter patient monitoring market in North America, particularly in the United States, Canada and Mexico, reflects a dynamic landscape characterized by technological advancements, increasing healthcare awareness, and a focus on improving patient outcomes. In the United States, as a major driver of innovation in healthcare technology, the multiparameter patient monitoring market has experienced significant growth owing to factors such as the aging population, the prevalence of chronic diseases, and the pursuit of value-based care. The aging demographic has led to an elevated demand for continuous health monitoring solutions, and the prevalence of chronic diseases has necessitated advanced monitoring systems for effective disease management. The U.S. market is marked by a competitive environment with numerous companies striving to provide innovative solutions, incorporating features like remote patient monitoring, integration with electronic health records, and wearable technologies. The emphasis on improving patient outcomes has resulted in a heightened focus on early detection and intervention, driving the adoption of multiparameter patient monitoring devices across various healthcare settings. Furthermore, in Mexico, the multiparameter patient monitoring market is influenced by similar trends but is also shaped by unique regional factors. The country's healthcare landscape has been evolving to meet the demands of a growing and diverse population. The adoption of multiparameter monitoring devices is driven by the need for advanced healthcare solutions that can address the health challenges associated with demographic shifts and the rising prevalence of chronic diseases. Mexico has seen an increasing awareness of the importance of continuous patient monitoring, especially in the context of preventive healthcare. The government's efforts to enhance healthcare infrastructure and accessibility further contribute to the growth of the multiparameter patient monitoring market.
North America Multiparameter patient monitoring Market based on device the market is categorised into portable and fixed. Portable multiparameter patient monitoring devices offer healthcare providers and patients a high degree of flexibility and mobility. These devices are designed to be compact, lightweight, and easily transportable, allowing for monitoring in various healthcare settings, including hospitals, clinics, and home environments. The portability factor is especially crucial in situations where continuous monitoring is required, and patients need to move around or receive care in non-traditional settings. The shift towards patient-centric care models emphasizes the importance of engaging patients in their healthcare management. Portable multiparameter monitoring devices enable patients to actively participate in monitoring their health, fostering a sense of empowerment and encouraging adherence to treatment plans. This patient-centric approach is increasingly recognized as beneficial for improving health outcomes. Based on end user the market is segmented into hospital, homecare settings, and ambulatory surgical centers. There has been a significant shift towards home healthcare in North America, driven by the desire for patient comfort, cost-effectiveness, and recent global events emphasizing the importance of receiving healthcare at home. Multiparameter patient monitoring devices play a crucial role in enabling comprehensive monitoring in homecare settings. Many patients prefer to receive healthcare services in the familiarity of their homes, avoiding the need for frequent visits to healthcare facilities. The use of multiparameter patient monitoring devices facilitates this preference by providing continuous monitoring without the necessity of hospital stays.
In terms of acuity level the market is categorized into High-Acuity Level, Medium Acuity Level and Low Acuity Level. The Medium Acuity Level segment corresponds to patients with conditions that require a moderate level of monitoring and intervention. The increasing complexity of healthcare cases, characterized by a rise in chronic diseases and age-related conditions, contributes to the demand for multiparameter patient monitoring at the medium acuity level. Medium acuity level patients often benefit from home-based monitoring to manage their conditions effectively. Multiparameter patient monitoring devices, especially those that are portable and user-friendly, enable patients to monitor vital signs at home, promoting greater convenience and adherence to monitoring protocols. Medium acuity level monitoring contributes to cost-efficiency in healthcare delivery. By optimizing resources and focusing monitoring efforts on patients with moderate needs, healthcare facilities can allocate resources more effectively, enhancing overall operational efficiency. The emphasis on population health management strategies involves tailoring healthcare interventions to specific patient populations. Medium acuity level monitoring aligns with this approach, allowing for targeted and personalized care for patients with moderate healthcare needs.
Companies Covered in this report:
Abbott Laboratories, Medtronic plc, Koninklijke Philips N.V., Becton, Dickinson and Company, GE HealthCare Technologies, Inc., Nihon Kohden Corporation, Baxter International Inc., OSI Systems, Inc., Mindray Medical International Limited, Omron Corporation, Schiller AG.

Considered in this report
• Geography: North America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• North America Multiparameter patient monitoring market Outlook with its value and forecast along with its segments
• Country-wise Multiparameter patient monitoring market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:
• United States
• Canada
• Mexico

By Device
• Portable
• Fixed

By Acuity Level
• High-Acuity Level
• Medium Acuity Level
• Low Acuity Level

By End User
• Hospital
• Homecare Settings
• Ambulatory Surgical Centers

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Multiparameter patient monitoring industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.
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