Frost & Sullivan bestows the Market Engineering Award for Quality Control Leadership upon the company that has demonstrated superior quality control÷over their existing competitors÷in product manufacturing. Quality control is an essential element of satisfying customers, increasing repeat buying behavior, and assuring long-term market survival.
Research Methods:
To choose the award recipient, the analyst team tracks all products and research and development projects within the industry. This is accomplished through interviews with all market participants, end-users, distributors, and extensive secondary and technology research.
Measurement Criteria:
In addition to the methodology described above, there is specific criteria used to determine final competitor rankings in this industry. The award recipient has excelled based on one or more of the following criteria:
- Lowest defect percentage per batch of units produced by suppliers in current base year
- Product ability to fulfill customer needs, in terms of functionality and user friendliness
- Number of breakdowns or services required per year
- Degree of connectivity
- Level of product support end-users receive from their vendors or suppliers
Product Quality Leadership Award: Masimo Corporation:
The recipient of the 2002 Frost & Sullivan Product Quality Leadership Award for the U.S. fetal and neonatal market is Masimo Corporation.
Masimo is a leading supplier of advanced medical signal processing technologies and products for the noninvasive monitoring of patient vital signs. Masimo Corporation is a privately held medical technology company, and is responsible for developing innovative motion and low perfusion tolerant pulse oximetry. The Masimo Signal Extraction Technology (Masimo SET®) is a breakthrough technology to access, process and register arterial oxygen saturation and pulse rate. Masimo SET® enhances the accuracy of SpO2 monitoring, particularly in complex patient conditions such as motion and low peripheral perfusion. Masimo SET® utilizes five algorithms (as opposed to the traditional two) to ensure continuous, accurate SpO2 measurement, even under the most challenging conditions.
Over 50 clinical studies have proved that the Masimo SET® considerably reduces costs, improves patient outcomes, and reduces medical errors in the presence of patient movement and low perfusion. Masimo has licensed its Signal Extraction pulse oximetry technology to over 35 international patient monitoring systems providers, accountable for 60 percent of the world's pulse oximeter shipments. Moreover, over 35 patient monitoring equipment manufacturers market Masimo SET® pulse oximetry. Some of the most notorious companies competing in the fetal and neonatal monitoring equipment market that offer Masimo's SET® pulse oximetry are: Datascope, GE Medical Systems, Invivo Research Inc., Ivy Biomedical Systems, Inc., Medical Data Electronics (MDE), a subsidiary of Viasys Healthcare, Respironics, and Welch Allyn.
For its commitment to the highest standards of excellence in its product offerings, Frost & Sullivan is proud to present the 2002 Product Quality Leadership Award to Masimo Corporation.
