The patient monitoring system is used for monitoring physiological signals that include the parameters such as electro-cardio graph (ECG), respiratory signals, blood pressure, body temperature, and others. The same parameters can be recorded at a central station in the Intensive Care Unit (ICU), or home via a laptop or computer in order to helps the caregivers to constantly monitor their patients, these systems are called central patient monitoring systems. The monitoring system is installed in intensive care unit, anesthesia, and surgery departments.
Global Central Patient Monitoring Systems Market – Dynamics
A need for constant monitoring of a large number of patients, efficiently, in hospitals that have more than 500 beds, is expected to propel growth of the central patient monitoring system market over the forecast period. For instance, according to the National University Hospital of Iceland Landspitali, in April 2017, its emergency department contains 46 monitors and 3 central stations for patient monitoring. The hospital has installed Intellispace central monitoring system developed by Koninklijke Philips N.V., in intensive care, anesthesia, and surgery department.
However, increasing risk of false alarms in central patient monitoring systems is likely to restrain market growth over the forecast period. For instance, according to the American Association of Critical-Care Nurses (AACN), in May 2018, around 90% of alarms in critical care settings are either clinically irrelevant or false.
Global Central Patient Monitoring Systems Market – Regional Insights
North America accounted for the largest market share in 2018, owing to increasing launches and approvals of new central patient monitoring systems in the region. For instance, in March 2018, Nihon Kohden announced the launch of its NK- HiQ Wireless Patient Monitoring System in the U.S. The NK- HiQ uses Wi-Fi technology to provide safe continuous patient monitoring in the hospital setting. NK- HiQ is a smart, secure data acquisition and management platform with a fully-featured central station, bedside, transport and wearable patient monitors. The system captures and manages patient data from admission to discharge, effortlessly throughout the treatment. Moreover, in September 2019, Baxter International entered into a mutual agreement to acquire Cheetah Medical, a U.S.-based company of non-invasive fluid management and hemodynamic monitoring technology. The acquisition will result in improved clinical outcomes with an established Baxter’s patient monitoring technology to help clinicians’ in taking better treatment decisions.
Global Central Patient Monitoring Systems Market – Competitive Landscape
Key players operating in the global central patient monitoring system market include Koninklijke Philips N.V., GE Healthcare, Hipac Healthcare Pty Ltd, Infinium Medical, Universal Medical Instruments, Heyer Medical AG, MindRay, Criticare Systems Inc., Sunray, Mediana, Nihon Kohden, and others.
Global Central Patient Monitoring Systems Market – Taxonomy
On the basis of number of patients, the global central patient monitoring systems market is segmented into:
On the basis of end users, the global central patient monitoring systems market is segmented into:
On the basis of region, the global central patient monitoring systems market is segmented into: