The multiparameter patient monitoring systems market generated a value of USD 9,789.2 million in 2022, and it will touch USD 17,950.8 million, advancing at a 7.9% compound annual growth rate, by 2030.
The growth of the industry can be because of the rising incidence of chronic sicknesses, the growing count of surgical processes, and the mounting need for early illness diagnosis.
Moreover, hospitals are growingly concentrating on monitoring the conditions of patients at each treatment stage, which has resulted in the increasing implementation of real-time monitoring systems for patients to help in making suitable clinical decisions.
In 2022, the hospitals category, based on end user, accounted for the dominating share in the industry, of approximately 70%. This can be attributed to the fact that an enormous count of patients with chronic illnesses, injuries, or any other medical emergencies visited hospitals each day.
North America accounted for the dominating share in the industry. This can be because of the existence of a strong healthcare system, advancement in technologies, high expenditure on healthcare facilities, high occurrence of illnesses, growing count of surgical processes, and rising consciousness of the people concerning effective management of disease.
APAC will advance at the highest rate in the years to come. This is because of the high progression in the economy, rising consciousness of constant health monitoring, unfulfilled medical requirements of the vast populace, and the growing per capita income.
It is because of the surging occurrence of chronic illnesses, the mounting number of surgeries, and the increasing need for early disease diagnosis, the multiparameter patient monitoring systems industry will continue to advance in the years to come.
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