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Convergence of IT and Patient Monitoring Companies
Frost & Sullivan, Dec 2007, Pages: 80
This Frost & Sullivan research service on the Convergence of Patient Monitoring Systems and IT provides an overview of advancements in the European patient monitoring market along with a complete analysis of key market drivers and restraints as well as prevailing trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the methods of integration of devices and solutions and the different business models currently being followed. It also offers strategic recommendations to further grow in this market.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
-Neurophysiological monitoring market
-ECG monitoring market
-Fetal monitoring market
-Central station monitoring market
-Multi-parameter monitoring market
-Respiratory monitoring
Market Overview
Greater Convergence and Integration of Patient Monitoring Systems with IT an Inevitability
Hospitals and medical professionals in Europe are increasingly becoming tech-savvy. They have realised the contribution that information systems can make to improving workflow processes and boosting efficiency. Increasing focus is being placed on improving the quality of care in hospitals. Here, the rapid transfer of patient information from monitoring devices to the hospital network is essential for enhanced integration. As hospitals purchase more advanced IT solutions and state-of-the-art devices, it is imperative that these devices and systems work in harmony, in order to achieve the desired levels of efficiency and patient safety.
In this context, the integration of patient monitoring devices with information technology solutions is becoming inevitable and is anticipated to define the future of the medical technologies arena. 'Communication between information solutions and medical devices is critical with an ever-increasing number of hospitals demanding the seamless transfer of information,' notes the analyst of this research. 'The distinction between information systems and patient monitoring devices is blurring, greatly driving convergence and integration.' Burgeoning partnerships between solution vendors and device manufacturers attest to collaborative efforts to promote communication between their products. Consequently, integration of these products has become a booming industry, with high profitability and plenty of growth opportunities.
Lack of Standards and Varied Proprietary Technologies Threaten Market Expansion
As VoIP, telemetry and home monitoring become more prevalent, the transfer of information from devices to the hospital network through wireless communication will become more commonplace. However, the varied proprietary technologies existing in the market today pose the most serious challenge to market expansion. As vendors use different technologies, a common platform does not currently exist, which makes integration a challenging task. The lack of mandated guidelines and standards is greatly impeding the growth of this market. The widespread use of proprietary standards restricts universal communication; governments and concerned organisations need to act quickly and establish rules to advance convergence.
'Market participants should devise a universal interface that will facilitate the exchange of information between devices and systems, independent of the manufacturer,' advises the analyst. 'Forward-looking alliances coupled with a focus on technological advancement will also help companies gain the competitive edge.'
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