Vital Signs Monitoring Devices Market: Industry Expert View on Future Growth and Market Trends
The growth of vital signs monitoring devices market is attributed to the driving factors, such as the increasing number of product launches and approvals and rise in need for remote patient monitoring. Whereas product recalls by companies and regulatory authorities is hindering the market growth.
The growing digitalization enables the growth of the vital signs monitoring devices market. The growth is attributed to government support enhancing digitalization in the healthcare system and offering growth opportunities for market growth. In addition, international organizations are enhancing digital health worldwide by providing opportunities for using digital vital sign monitoring devices. For instance, the WHO is emphasizing and harnessing the power of digital technologies. Thus, innovations in the medical device industry are accelerating and achieving global health attainment and well-being.
Likewise, economically, digital vital signs monitoring devices allow cost-effective diagnosis for people. The growing at-home healthcare has expanded the use of vital signs monitoring devices that prevent chronic medical conditions. Also, the devices used at home healthcare are pocket-friendly, reduces traveling cost, and limits frequent hospital patient visits. Also, devices such as finger-tip pulse oximeters and digital thermometers are freely distributed through companies and governments through public awareness campaigns and programs. Thus, it encourages players to innovate technologies for home use vital signs monitoring devices and lead to market growth.
The vital signs monitoring devices market comprises top players such as Koninklijke Philips NV, Medtronic Plc, Nihon Kohden Corp, GE HealthCare Technologies Inc, OMRON Corp, Nonin Medical Inc, SunTech Medical Inc, Masimo Corp, Contec Medical Systems Co Ltd, and Baxter International Inc.
The companies listed above are implementing various strategies that have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position. Below is the list of the growth strategies done by the players operating in the vital signs monitoring devices market:
Aug-2023: GE HealthCare’s smartphone-sized Portrait Mobile frees the patient from the hospital bed while continuously monitoring vital signs, using wearable sensors with a wireless protocol, to help catch early inpatient deterioration. Portrait Mobile introduces an innovative measurement technology to continuously capture respiration rate, one of the most sensitive vital signs for early patient deterioration1,2, accurately and reliably. The Portrait Mobile device is one of GE HealthCare’s “first major introductions in monitoring in recent years,” according to the company.
Jun-2023: Masimo received 510(k) clearance from the US Food and Drug Administration (FDA) for its patient-worn, continuous multi-parameter vital signs monitor called Radius VSM. Developed using a modular platform, Radius VSM enables clinicians to monitor several physiological measurements such as Masimo SET pulse oximetry, temperature, respiration rate, electrocardiography, and non-invasive blood pressure.
Dec-2022: Medtronic partnered with BioIntelliSense, a continuous health monitoring and clinical health intelligence firm, wherein Medtronic will exclusively distribute the BioButton multi-parameter continuous, connected wearable monitoring device. BioButton is rechargeable and has configurable acute and post-acute modes as patients transition through acuity settings.
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
The growing digitalization enables the growth of the vital signs monitoring devices market. The growth is attributed to government support enhancing digitalization in the healthcare system and offering growth opportunities for market growth. In addition, international organizations are enhancing digital health worldwide by providing opportunities for using digital vital sign monitoring devices. For instance, the WHO is emphasizing and harnessing the power of digital technologies. Thus, innovations in the medical device industry are accelerating and achieving global health attainment and well-being.
Likewise, economically, digital vital signs monitoring devices allow cost-effective diagnosis for people. The growing at-home healthcare has expanded the use of vital signs monitoring devices that prevent chronic medical conditions. Also, the devices used at home healthcare are pocket-friendly, reduces traveling cost, and limits frequent hospital patient visits. Also, devices such as finger-tip pulse oximeters and digital thermometers are freely distributed through companies and governments through public awareness campaigns and programs. Thus, it encourages players to innovate technologies for home use vital signs monitoring devices and lead to market growth.
The vital signs monitoring devices market comprises top players such as Koninklijke Philips NV, Medtronic Plc, Nihon Kohden Corp, GE HealthCare Technologies Inc, OMRON Corp, Nonin Medical Inc, SunTech Medical Inc, Masimo Corp, Contec Medical Systems Co Ltd, and Baxter International Inc.
The companies listed above are implementing various strategies that have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position. Below is the list of the growth strategies done by the players operating in the vital signs monitoring devices market:
Aug-2023: GE HealthCare’s smartphone-sized Portrait Mobile frees the patient from the hospital bed while continuously monitoring vital signs, using wearable sensors with a wireless protocol, to help catch early inpatient deterioration. Portrait Mobile introduces an innovative measurement technology to continuously capture respiration rate, one of the most sensitive vital signs for early patient deterioration1,2, accurately and reliably. The Portrait Mobile device is one of GE HealthCare’s “first major introductions in monitoring in recent years,” according to the company.
Jun-2023: Masimo received 510(k) clearance from the US Food and Drug Administration (FDA) for its patient-worn, continuous multi-parameter vital signs monitor called Radius VSM. Developed using a modular platform, Radius VSM enables clinicians to monitor several physiological measurements such as Masimo SET pulse oximetry, temperature, respiration rate, electrocardiography, and non-invasive blood pressure.
Dec-2022: Medtronic partnered with BioIntelliSense, a continuous health monitoring and clinical health intelligence firm, wherein Medtronic will exclusively distribute the BioButton multi-parameter continuous, connected wearable monitoring device. BioButton is rechargeable and has configurable acute and post-acute modes as patients transition through acuity settings.
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
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