Keeping a close track of key bodily functions like pulse rate, respiration, and temperature as well as monitoring the blood pressure are the primary requisites of modern medical care. In order to cater to this need, digital blood pressure monitors are the go-to implements, empowering the consumers to stay cognizant about their health and monitor its vital signs from the comfort of their homes. In today’s age of digitization, several industries including retail, media, and education have all undergone a sharp and favorable transformation led by digital innovations, thankfully, the healthcare industry isn’t lagging behind.
An appetite for reliable and easily discernable solutions, alongside the need for timely information about blood pressure fluctuations is helping grow this industry tremendously. Several digital blood pressure monitor brands such as Omron Healthcare, Smiths Medical, Philips Healthcare, and Welch Allyn are at work to develop highly accessible monitors that aid individuals in self-monitoring their blood pressure and assist physicians in developing the necessary treatment plans for them.
Market fraught with challenges, simpler alternatives
Despite its cutting-edge technology, there have been constant concerns regarding the accuracy of digital blood pressure monitors. Plus, the companies in this industry are facing backlash owing to the high cost of these advanced patient monitoring systems such as multi parameter blood pressure monitors and wearable digital blood pressure monitoring machines with remote monitoring access. These reasons force the patients to continue with manual blood pressure monitoring that can sometimes lead to errors resulting in mistreatment.
Gaining a strategic edge with product bundling
To counter the question of cost, a bundled package that includes several innovative health products and services is an ideal solution. Thereby, brands in the blood pressure monitoring industry should formulate this strategy to achieve product differentiation which helps in getting an edge over the competition. For example, along with vital signs monitors, vendors are offering accessories for patients to monitor their blood pressure levels as well.
Smiths Medical has utilized the aforementioned strategy in recent times to encouraging results. They have developed BCI, a bedside patient monitor that comprises vital signs, pulse oximeters, capnography, and blood pressure monitors. The end-users consider using such packaged offerings as compared to individual products since they prove to be cost-effective. It can aid in reducing the patients’ out-of-pocket expenditure by sizably reducing their medical bills.
Market insights help vendors strategize better
Information accrued from handy devices which monitor the vital signs of patients, wearables that integrate with smartphones and highly accessible digital blood pressure monitors will ultimately renovate healthcare in a highly personalized way. These will also keep the costs in check, save time and graduate the patients themselves as key members of the diagnostic and treatment teams.
However, the market is ever-evolving and vendors must stay updated with the near constant changes occurring in the industry. In this regard, Technavio’s comprehensive market insights will help vendors to make precise decisions in line with current market trends and grow exponentially in the highly competitive global digital blood pressure monitors market. Source your FREE sample report from the links provided herein.
