Leading vendors are focusing on developing technologically advanced equipment to increase their sales
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global multi-parameter patient monitoring equipment market in their latest research report. This report also lists 16 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of multi-parameter patient monitoring equipment to hospitals, ambulatory care centers, and home healthcare.
- Hospitals: The high-acuity level and mid-acuity level monitoring equipment is used in the emergency and ICU departments. The vendors are investing in the development of less-invasive multi-parameter patient monitoring equipment.
- Ambulatory care centers: The use of less-invasive multi-parameter patient monitoring equipment and low-acuity level monitoring is very common in the ambulatory care setting.
This Technavio report, under patient monitoring devices vertical, is based on the synthesis, analysis, and interpretation of information about the global multi-parameter patient monitoring equipment market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The market is dominated by the presence of established players with strong product portfolios and high development activities. The top manufacturers are investing in product development and expansion in growing geographical regions to create a unique market share for themselves. Several other vendors are adopting organic growth strategies to sustain the level of competition in the market. The companies are launching devices with advanced product features that include display clarity, the simplicity of the device, and cost effectiveness to gain a competitive advantage over other players. Some of the vendors are developing new products that feature better alarm functionality, storage, and analysis of data for effective monitoring of chronic conditions like respiratory and cardiac disorders. The manufacturers will invest in the development of new technology that has improved battery life and easy portability functionality during the forecast period to meet the requirement of the end-users.
“The evolution of wearable multi-parameter patient monitoring equipment in the m-health industry is fueling the growth of the market. These wearable devices include smart features and enable the monitoring of heart rate, respiratory rate, heart rate variability, skin temperature, glucose levels, and body posture. Moreover, these devices can be integrated with smartphones which provide real-time information and analysis of an individual’s heath condition,” says Barath Palada, a lead analyst at Technavio for research on patient monitoring devices.
Top five vendors in the multi-parameter patient monitoring equipment market space
CAS Medical Systems
The company develops, designs, and markets a variety of diagnostic equipment and medical products. It also provides non-invasive blood pressure monitors, blood pressure cuffs, silver chloride electrodes, and disposable products. Recently, the company signed a distribution agreement with Deltex Medical to be their exclusive distributor of FORE-SIGHT ELITE cerebral oximeters in the UK and Ireland regions.
Key Products: FORE-SIGHT monitors, 740SELECT monitor, and FORE-SIGHT ELITE.
GE Healthcare
The company is in the manufacturing and marketing of medical diagnostic devices and imaging systems, cardiac devices, patient monitoring, and healthcare IT solutions. Some of the other services that the company provides include transformational medical technologies and services.The company is also investing in the development of innovative technology to enhance productivity-based technology, services, and IT/cloud-based solutions among healthcare agencies that offer greater productivity and efficiency.
Some key products: CARESCAPE B650, CARESCAPE B850, CARESCAPE B450, CARESCAPE VC 150 vital sign monitors, B40 patient monitor, etc.
Mindray Medical International
Mindray Medical International develops, manufactures, and markets medical devices specifically for China and engages in the sale and distribution of these devices across the globe as well. It also offers products to the patient monitoring and life support products segment. The company’s products are suitable for neonatal, pediatric, and adults and are used primarily in operating rooms, ICUs, and emergency rooms. In recent times, its BeneVision N22/N19 Patient Monitor was awarded iF DESIGN AWARD 2016 for product design.
Some key products: BeneVision N22/N19, BeneView TDS, BeneView T5, VS-600, VS-900, BeneVision, Hypervisor VI, BeneVision TM80, TMS-6016, etc.
Philips Healthcare
The company manufactures and markets diagnostic imaging systems, healthcare IT solutions, patient monitoring, and cardiac devices. It also designs, manufactures, and markets a varied selection of medical devices, pharmaceutical, diagnostic, and biotechnology equipment across the globe. The products by the company are best for recording, monitoring, and alarming multiple physiological parameters of adults, pediatrics, and neonates in healthcare environments.
Some key products: MP40, MP50, MX800, SureSigns VM8, SureSigns VS3, SureSigns VS2+, SureSigns VM6, etc.
Spacelabs Healthcare
The company designs, manufactures, and markets diagnostic cardiology, patient monitoring, and anesthesia delivery and ventilation systems for healthcare institutes across the globe. Its patient monitoring systems consist monitors and central nursing stations that can be connected hardwired or wireless networks. Recently, the company showcased its products at the American College of Cardiology Scientific Session 2015 in San Diego, California.
Some key products: Ultraview SL2200, Ultraview SL2400, Ultraview SL2700, Sonicaid Encore Intrapartum Monitor, Ultraview DM3 Dual Monitor, etc.
Other prominent vendors in this market include CareTaker Medical, Contec Medical Systems, Corsens Medical, Drägerwerk, EarlySense, Edwards Lifesciences, Guangdong Biolight Meditech, InfoBionic, Lifebridge Health, Masimo, Mennen Medical, Mortara Instrument, Omron Healthcare, Respirtech, Schiller, and Xhale.
A more detailed analysis is available in the Technavio report, Global Multi-Parameter Patient Monitoring Equipment Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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