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Masimo's (MASI) Patient Monitoring Devices Favored by New Study

Masimo Corporation MASI recently announced the findings of a prospective, single-blinded, randomized controlled study in which researchers sought to assess the impact of varying ventilation strategies on the cerebral oxygenation of patients undergoing video-assisted thoracoscopic surgery (VATS). The findings were published in the Journal of Anesthesia & Intensive Care Medicine.

The latest positive study outcome is a major stepping stone for Masimo’s real-time patient monitoring business and is likely to solidify its position in the niche space on a global scale.

Background of the Study

The researchers used the multi-modal Masimo Root patient monitoring and connectivity platform (designed to allow clinicians to streamline their ability to keep track of numerous modalities simultaneously using a single intuitive monitor) to monitor the variety of physiological parameters needed to undertake such an evaluation. The technologies involved included O3 regional oximetry, capnography with NomoLine sampling lines, SedLine brain function monitoring and multiple rainbow Pulse CO-Oximetry measurements.

Significance of the Study

The researchers noted the increased risk of hypoxemia during one-lung ventilation (OLV) as part of VATS, which can lead to post-operative neurocognitive dysfunctions. Hence, they hypothesized that increasing end-tidal carbon dioxide (EtCO2) could be a suitable and influential way to manage cerebral desaturation during surgery.

As part of the evaluation, the researchers used Root and Masimo monitoring technologies and were able to determine that maintaining higher EtCO2 improved baseline regional cerebral oxygenation, with impacts on early post-operative cognitive function.

The researchers concluded that adjusting the ventilator parameters to develop higher EtCO2 improved cerebral oxygenation more than lower EtCO2. This played a protective role in the brain, thereby causing a significant impact on the early post-operative cognitive function in patients with OLV undergoing VATS. They also noted that the use of Masimo Root and associated monitoring technologies were favored as it can simultaneously display several clinical measurements.

Industry Prospects

Per a report by Allied Market Research, the global patient monitoring devices market was estimated to be $25,768.56 million in 2019 and is anticipated to reach $44,861.56 million by 2027 at a CAGR of 4.4%. Factors like technological advancements and growing preference for telehealth services are expected to drive the market.

Given the market potential, the positive study outcome is likely to provide a significant boost to Masimo’s business globally.

Recent Developments

This month, Masimo announced an expansion of its partnership with Royal Philips to augment patient monitoring capabilities in home telehealth applications with the Masimo W1 advanced health tracking watch.

The same month, Masimo announced positive results of a prospective study in which researchers assessed the performance of non-invasive spot-check hemoglobin measurement with Masimo SpHb on emergency department patients. The results were published in the American Journal of Emergency Medicine.

Again, in January, Masimo announced the findings of a before-and-after study published in PLoS ONE in which researchers evaluated the impact of implementing remote patient monitoring with Masimo Patient SafetyNet on the efficacy of hospital rapid response teams.

Comparison With Peers

This month, Masimo’s patient-monitoring peer, DexCom, Inc. DXCM, announced that coverage for Dexcom G6 real-time continuous glucose monitoring (rtCGM) System on the Non-Insured Health Benefits Program had been expanded to include all clients living with type 1 diabetes. This expands upon coverage already in place for clients aged 2 to 19 on intensive insulin therapy, giving even more First Nations and Inuit people access to this standard of care, potentially helping them to have more control over a life-long chronic illness.

The same month, DXCM announced its preliminary revenues for fourth-quarter and full-year 2022. It expects a robust increase in its overall top line for the quarter and the full year. Per management, the solid performances were primarily driven by significant growth in its global customer base and key regulatory clearances of its next-generation G7 CGM system.

Another renowned name in patient monitoring is Veradigm Inc. MDRX. This month, MDRX announced an investment in Holmusk, a global behavioral health real-world evidence and data analytics company.

In November 2022, Veradigm announced its results for the third quarter of 2022, where it had registered a robust uptick in its overall top line.

Another popular peer of Masimo in the patient-monitoring space is Veeva Systems Inc. VEEV. This month, VEEV announced that contract development and manufacturing organization with expertise in oral dosage forms, Adare Pharma Solutions, had selected Veeva Vault Quality Suite to harmonize quality systems across the organization.

Last month, Veeva Systems announced its third-quarter fiscal 2023 results, where it saw an uptick in the overall top and bottom lines and robust performances by both segments. The continued benefit from its flagship Vault platform and strength in its Commercial Solutions, with new SMB customer additions and enterprise seat expansions in Asia Pacific and North America, looked promising.

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