Importance of Multi-Parameter Monitoring
Multi-parameter patient monitoring equipment are used to examine the vital signs of patients suffering from critical illness, these devices are designed to give the number of information sets on one screen to understand the patient’s condition. These monitors provide reading such as heart rate, central venous pressure, non-invasive blood pressure, ECG, SpO2, PaCO2, invasive blood pressure, respiration rate, posture, temperature, and fall detection. The monitor has an alarm where the parameters can be set and the caregiver will be alerted for change beyond the set parameter. Multi-parameter monitoring devices are intended to be used in various hospital settings such as coronary care unit, Intensive Care Unit (ICU), Neonatal Intensive Care Unit (NICU), Post operative care and Operating Room (OR) to provide additional information to medical and nursing staff about the physiological condition of the patient.
Multi-parameter patient monitoring devices reduce stay of patient at ICUs and improve the utilization of hospital infrastructure; these devices reduce the length of stay in the hospital and leads to earlier recognition of patient conditions. There are three types of Multi-parameter monitoring devices namely, High acuity, Mid-acuity, and Low-acuity devices based on hospital settings where these devices are employed. Acuity levels help doctors and nurses to set appropriate staffing levels in acute care, long-term care and other treatment and rehabilitation settings. Without this system, patients may not receive the amount of care their health status demands. Hence, acuity levels are more important when working with limited staff, patients who are severely ill receive higher acuity ratings, while patients with better health receive mid and lower ratings.
In the high acuity unit, the nurses and doctors know exactly what have to do, also every patient in high acuity unit requires constant monitoring and attention, the high acuity monitoring systems are fitted with alarm functions, which are activated when the parameters for the patient are outside the “safe range” configured for that particular parameter setting. The need for these systems arises due to the rising number of patient admissions to different departments of a hospital such as critical care/intensive care unit (ICU) and operation theatre (OT). Mid acuity patient monitors meet the demands of various hospital settings, such as emergency rooms, recovery units, sub-acute units, and general wards. Mid acuity monitors are simple and portable and these monitors can operate for a maximum of four hours without any necessity for additional battery fixture. The mid-acuity will grow steadily in hospitals as patients are being transferred out of higher acuity areas more quickly. There are also elite vital signs monitors available that combine high-performance monitoring with unparalleled style. Low-acuity devices are used for monitoring the basic vital signs of a patient. Low-acuity monitors usually have a high preference in ambulatory surgical centers and hospitals covered under public sectors as they have low prices as compared to the high-acuity multi-parameter patient monitors. There is also a focus in countries such as the United States to improve care in low-acuity such as general wards, as it will allow patients to be moved from expensive high-acuity wards sooner, while still being monitored to ensure they receive necessary care. This is leading to demand of low-acuity monitors to ensure all patients are monitored at all times. In turn, this reduces the number of adverse events that occur during the patient’s hospital stay, ultimately reducing the burden on healthcare systems.
In October 2019, Shenzhen Mindray Biomedical Electronics Co., Ltd. received 510 (K) clearances for ePM Series patient monitors. mid-acuity monitors, the ePM Series brings a new, smartphone-like user experience that provides a user-friendly interface design that allows caregivers to access common functions in no more than two steps. Features include an excellent visual experience, intelligent operation (including gesture support), accurate physiological measurements, smooth workflow, and comprehensive connectivity options, all without sacrificing any functionality. In December 2019, Masimo announced the expanded licensing agreement with Drager. By this agreement, Drager will integrate additional Masimo measurement technologies into their multi-parameter patient monitors to help clinicians assess the brain function, oxygenation and ventilation status. This strategies indicates that there is more scope to multi-parameter monitoring devices.
The patient monitoring device manufacturing companies can invest in this market, the multi-parameter patient monitoring market growth is fuelled by growing awareness of the existence and benefits of products and increased funding and investment. Several venture capitalists are investing in nurturing new technologies or increasing market access for advanced technologies. According to IQ4I Analysis, the reported funding received by companies during the period 2018-2020 was worth ~ $153 million.
Some of the key players related to this segment are Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Koninklijke Philips N.V. (Netherlands), GE Healthcare (U.S.), Smiths Medicals (U.S.), Nihon Kohden Corporation (Japan), Hill-Rom Holdings Inc. (U.S.), OSI Systems (Spacelabs Healthcare) (U.S.), Omron Healthcare (Japan), Dragerwerk AG & Co., KGaA (Germany), Fukuda Denshi Co., Ltd. (Japan), Abbott Laboratories (U.S.), Baxter International Inc. (U.S.) and Medtronic PLC (Ireland).
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