The European cardiac patient monitoring market is stable and expanding at a steady pace. The primary factor leading to growth in the market is the need for devices that enable effective diagnoses of cardiovascular diseases.
New analysis from Frost & Sullivan, European Cardiac Patient Monitoring Solutions Outlook, finds that the European market for cardiac patient monitoring earned revenues of $389.3 million in 2009 and estimates this to reach $583.6 million in 2016. The following segments are covered in the research: resting ECG, stress ECG, Holter monitor, cardiac event recorder and ECG data management systems.
“The most important driver in the market is the demand for easy-to-use and patient-friendly devices that enable rapid and robust diagnoses of cardiovascular diseases,” notes Frost & Sullivan Senior Research Analyst Akanksha Joshi. “At the same time, a ‘greying’ population, unhealthy lifestyles and the attendant increase in cardiovascular diseases is also contributing to market expansion.”
Advanced software applications facilitate the diagnoses of heart conditions. Such applications are supporting market development. This is being paralleled by rising demand for pioneering systems with enhanced connectivity, flexibility, and networking abilities and that also offer improved integration capabilities.
The lack of a uniform reimbursement policy across Europe presents a challenge to sustained market development. For instance, the lower rate of reimbursement for cardiac event recorders has restrained the use of this device. At the same time, private hospitals and clinics have reduced patient intake due to the lack of adequate reimbursement.
“Competition has intensified as the market for cardiac patient monitoring becomes progressively more saturated,” cautions Joshi. “Brand loyalty and stagnation on the technological front have created difficulties for new entrants, while reducing profit margins for established companies.”
Collaboration with established local companies would enable manufacturers to provide efficient services even while maintaining profit margins. Manufacturers can provide end users value for money by focusing on product differentiation.
“It is important for manufacturers to provide innovative, accurate, and reliable patient-friendly devices,” concludes Joshi. “This approach would invoke the medical community’s interest and push replacement sales.”
For more information, visit www.frost.com
New analysis from Frost & Sullivan, European Cardiac Patient Monitoring Solutions Outlook, finds that the European market for cardiac patient monitoring earned revenues of $389.3 million in 2009 and estimates this to reach $583.6 million in 2016. The following segments are covered in the research: resting ECG, stress ECG, Holter monitor, cardiac event recorder and ECG data management systems.
“The most important driver in the market is the demand for easy-to-use and patient-friendly devices that enable rapid and robust diagnoses of cardiovascular diseases,” notes Frost & Sullivan Senior Research Analyst Akanksha Joshi. “At the same time, a ‘greying’ population, unhealthy lifestyles and the attendant increase in cardiovascular diseases is also contributing to market expansion.”
Advanced software applications facilitate the diagnoses of heart conditions. Such applications are supporting market development. This is being paralleled by rising demand for pioneering systems with enhanced connectivity, flexibility, and networking abilities and that also offer improved integration capabilities.
The lack of a uniform reimbursement policy across Europe presents a challenge to sustained market development. For instance, the lower rate of reimbursement for cardiac event recorders has restrained the use of this device. At the same time, private hospitals and clinics have reduced patient intake due to the lack of adequate reimbursement.
“Competition has intensified as the market for cardiac patient monitoring becomes progressively more saturated,” cautions Joshi. “Brand loyalty and stagnation on the technological front have created difficulties for new entrants, while reducing profit margins for established companies.”
Collaboration with established local companies would enable manufacturers to provide efficient services even while maintaining profit margins. Manufacturers can provide end users value for money by focusing on product differentiation.
“It is important for manufacturers to provide innovative, accurate, and reliable patient-friendly devices,” concludes Joshi. “This approach would invoke the medical community’s interest and push replacement sales.”
For more information, visit www.frost.com
