About Smart Patient Monitor
Smart Patient Monitor is the medical monitor also known as psychological monitor or the display. It is an electronic medical device which measure the patients vital sign display the data obtained therefrom, and transmit it on the monitoring network. Multiple biometric variables, including heart rate, blood pressure, body temperature, SpO2, and others, can be recorded, measured, and displayed on a smart patient monitor. Both newborns and adults can have their health status monitored by the smart patient monitoring device.
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The market for Smart Patient Monitor is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share Analyst at AMA Research estimates that China Players will contribute the maximum growth to Global Smart Patient Monitor market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Yonkers Medical Equipment (China), Contec (United States), Mediana (South Korea), Philips (Netherlands), Mindray (China), Mdkmed (China), Edan (China), Nidek (Japan), Comen (China) and Sinnor (India) are some of the key players that are part of study coverage.
AMA Research has segmented the market of Global Smart Patient Monitor market by Type (Blood Pressure Monitor, Continuous Glucose Monitor and Heart Rate Monitors) and Region.
On the basis of geography, the market of Smart Patient Monitor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Pulse Sensor will boost the Smart Patient Monitor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct Sale will boost the Smart Patient Monitor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Smartphone will boost the Smart Patient Monitor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospital will boost the Smart Patient Monitor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Innovation in IoT and New Generation Technology and Innovation of New Wireless Sensors and RFID Devices
Market Growth Drivers:
Increasing Demand in Healthcare Centers and Specialty Clinics for Patients Health Monitoring, Rising Concern About Patients Health in Hospitals and Clinics and Demand in Time Efficient Patient Health Care Monitoring
Limited Battery Life of Smart Patient Monitor, Lack of Providing Accurate Patient Health Data and Standard Lab Testing and Approvals in Global and Regional Area
Initially High Price than Normal Patient Monitor
Growth in Healthcare Sectors and Healthcare Devices Manufacturing and Technological Advancements in Healthcare Sectors
Market Leaders and their expansionary development strategies
On 8 November 2021, Philips a global leader in health technology, today announced that it has signed an agreement to acquire Cardiologs, a France-based medical technology company focused on transforming cardiac diagnostics using artificial intelligence (AI) and cloud technology. Cardiologs will further strengthen Philips’ cardiac monitoring and diagnostics offering with innovative software technology, electrocardiogram (ECG) analysis and reporting services. The transaction, which is subject to customary closing conditions, is expected to be completed in the coming months. Financial details of the transaction were not disclosed.
On 19 January 2021, Mindray, a global developer of medical device solutions and technologies, is pleased to introduce the new ePM series of continuous, multi-parameter patient monitors. Designed for the specialized needs of the ambulatory surgery center and out-of-hospital setting where flexibility and efficiency are essential, the ePM 10M and 12M are purposefully positioned to support workflow productivity, improved patient outcomes and reduced total cost of ownership in these lower-acuity, cost-sensitive care areas.
The US Secretary of Health and Human Services (HHS) determined on 4 February 2020 that there is a public-health emergency on the basis of the spread of SARS-CoV-213. On the basis of this determination and to address the COVID-19 pandemic, the HHS secretary has issued three Emergency Use Authorization (EUA) Declarations related to medical devices. The first is for in vitro diagnostics for the diagnosis and/or detection of SARS-CoV-213, the second is for personal respiratory protective devices14, and the most recent one broadly applies to medical devices, including alternative products that are used as medical devices, such as home monitoring devices15
Key Target Audience
Smart Patient Monitor Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.