Multiparameter Patient Monitoring Market to 2016 - Increasing Demand from Emerging Markets to Upset Global Market Maturity17 Jan 2011 • by Natalie Aster
GBI Research’s new report, “Multiparameter Patient Monitoring Market to 2016 - Increasing Demand from Emerging Markets to Upset Global Market Maturity” provides key data, information and analysis on the global multiparameter patient monitoring market. The report provides market landscape, competitive landscape and market trends information the multiparameter patient monitoring market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.
The global market for the multiparameter patient monitoring devices market is forecast to reach $3.4 billion by 2016 with a Compound Annual Growth Rate (CAGR) of 5% from 2009–2016. Strong economic growth in developing markets such as China and India leading to increased investments in healthcare infrastructure. This coupled with other factors such as increasing demand for wireless or remote monitoring technologies, networking and connectivity to other information systems, and reduction in cost are expected to drive the market.
The multiparameter patient monitoring devices market in emerging economies such as China and India is forecast to grow at a CAGR of 12% and 9% respectively from 2009–2016, which is higher than the global average of 5%. Strong economic growth forecasts in these emerging economies are expected to lead to increased investment in healthcare infrastructure, expansion of healthcare facilities, high patient affordability and an improvement in healthcare services offered. Also, China and India are the most populated countries in the world which should provide significant growth opportunities for years to come.
The US is the biggest market for multiparameter patient monitoring devices, contributing 40% towards the global market in 2009. The US market for multiparameter patient monitoring devices was valued at $1 billion in 2009, and is forecast to grow at a CAGR of 4% to reach $1.3 billion in 2016. However the contribution of the US towards global multiparameter patient monitoring devices is expected to decline to 37% by 2016. Factors such as higher growth in emerging economies and market maturity in the US are expected to lead to a decline in the contribution.
Philips Healthcare and GE Healthcare are the Leading Companies in the Global Multiparameter Patient Monitoring Device Market
In 2009, the global multiparameter patient monitoring devices market was dominated by major players such as Philips Healthcare and GE Healthcare, holding 30% and 22% of the market share respectively. Market dominance of these players can be attributed to their comprehensive product and service offerings such as training programs, business consultancy and continued efforts towards research and innovation.