Now available to healthcare providers in India, the new Philips SureSigns VM3 is the first Philips patient monitor designed for emerging markets.
Talking to reporters here, Anjan Bose, Senior Director & Business Head Medical systems of India, Bangladesh, Srilanka and Nepal, said that with a growing per capita income and adoption of new lifestyles, healthcare services in India are rapidly changing.
In order to meet the increasing demand for quality care, people in urban areas have seen the construction of new, state-of-the-art hospitls and associated satellite facilities, while others are increasingly seeking care at smaller nursing homes and clinics.
This has fueled the demand for healthcare equipment across segments and the growth of the Indian patient monitoring equipment market is estimated to reach $42 million in 2010.
Philips plans to garner a market share of 40 percent by 2010 through its diverse range of patient monitoring equipment.
"We have targetted market of Rs 350 crore which will be 25 to 30 per cent more as compared to previous year, he said.
"The SureSigns VM3 leverages the high-quality platform of Philips' industry leading patient monitoring portfolio", Bose said.
"Combining advanced software and technology in a compact economic package, the VM3 is the perfect solution for caregivers across the wide variety of clinical environments we see here in India," he said.
"This launch reaffirms our commitment to the Indian market, leveraging Philip's global expertise to introduce technologically-advanced offerings tailored to this markets," he added.
