Tuesday Nov 29, 2022

North America to Lead the MR Vital Sign Monitors Market with Capturing 50% of the Market Share – BioSpace

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Proliferating Growth of Technological Advancements in Medical Devices to Spur the Demand for MR Vital Sign Monitors

Fact.MR’s latest market analysis on the global MR vital sign monitors market offers compelling insights into various segments including product type, end-user and application types across seven regions. The report also covers crucial factors impacting sales, such as trends, drivers, opportunities, and growth strategies adopted by market players.

Fact.MR – A Market Research and Competitive Intelligence Provider: The global MR vital sign monitors will see a significant increase in demand due to rising requests from clinicians and patients in 2020 owing to the emergence of the Covid-19 issue, As people’s awareness of health issues grows in 2021, healthcare professionals will require new and upgraded vital sign monitors for more complete tracking and monitoring of patients, resulting in increased demand.

Rising health-related disease instances are contributing to increased demand from the medical sector, which continues to be a major growth driver for the MR vital sign monitors market. In emergency scenarios, people throughout the world are opting for smart monitoring devices to track and monitor a patient’s body temperature, heart rate, pulse rate, and other pertinent data.

The MR vital signs monitor is used in a variety of settings in healthcare, including specialist clinics, hospitals, ambulatory surgical centres, and at home. When compared to other multi-parameter patient monitor devices, MR Vital Sign Monitor systems are less expensive and deliver a quick and accurate result.

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According to a recent study conducted by FactMR Analytics in 2021, North America currently holds half of the global market for MR vital sign patient monitors and is expected to continue to do so through 2030.

Key Takeaways:

  • Based on product type, COPD and glucose level MR vital sign monitors are expected to dominate the market.
  • By region, North America is expected to dominate the largest market share.
  • Europe is expected to be capture the second largest market share in the global MR vital sign monitors market.
  • Growing technological advancements in the visualization technology to offer lucrative opportunities in the market.

Key Drivers

  • Increasing prevalence of chronic obstructive pulmonary disease (COPD) and cardiovascular diseases to drive the MR vital sign monitors market growth.
  • Rising geriatric population to propel the market growth further.

Key Restraints

  • Government’s stringent regulations in low middle-income countries can hamper the growth of the global MR vital sign monitors market.

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Competitive Landscape

In 2021, the market leaders will focus on new product development, long-term contracts, collaborations, joint ventures, acquisitions, research and development, and inventive additions to improve their respective positions and acquire a competitive advantage over competitors.

For example, on the 13th of August, 2020, Royal Philips Corporation, a global leader in healthcare technology, released its Rapid Equipment Deployment Kit for ICU ramp-ups, allowing doctors, nurses, and technicians to quickly support critical care patient monitoring capabilities.

DirectSense technology, developed by Boston Corporation, was announced in June 2020 as a tool for monitoring the effect …….

Source: https://www.biospace.com/article/north-america-to-lead-the-mr-vital-sign-monitors-market-with-capturing-50-percent-of-the-market-share/

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