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Eastern Europe Patient Monitors Markets
Frost & Sullivan, Jan 2006
Price Pressure Intensifies Competition in the Market
Increasing price pressure due to the entrance of cost-effective products from countries such as China and Korea is altering the competitive dynamics of the eastern European patient monitors market. These manufacturers are able to address end users’ demand for basic monitoring facilities at lower costs. This prevailing mood of price consciousness is forcing existing market participants to reduce their prices, which in turn, severely compromises their revenues and overall profitability. Many of the bigger participants have also started bundling their products in a bid to secure business from hospitals whose purchasing groups are increasingly looking to buy comprehensive packages from single vendors. This again affects revenues and places great pressure on the middle-level as well as smaller companies to maintain and gain market share. The biggest challenge, therefore, is for companies to strike a balance between meeting customer demands and ensuring revenue flow.
This Frost & Sullivan research service, Eastern European Patient Monitors Market, analyses the potential of these devices in four geographical markets - Bulgaria, the Czech Republic, Hungary and Poland. Along with detailed insights into market trends, the research service provides valuable strategic recommendations to overcome the key challenges of rising competition and increasing price erosion.
Increasing Demand for Patient Monitors Drives Growth
The eastern European patient monitors market is currently in the growth stage and the region holds strong potential for the penetration of these devices due to numerous reasons such as the need for better healthcare facilities, aging population as well as predominant chronic diseases in certain countries. The infusion of international funds into the region is also helping to boost the market. Current market trends reveal that cost-effective products combined with strong after-sales service hold the key to increasing market share.
However, the demand for patient monitors in eastern Europe is yet to be fully satisfied, opening up opportunities for both high-end and low-end manufacturers. While large hospitals prefer high-end products, price-conscious smaller customers prefer low-end ones, says the analyst of this research service. The most opportunities are in the mid-range monitors segment, which is expected to account for half of the market revenues in the future.
Mid-range Monitors Hold Huge Potential for Revenue Generation
The increase in demand for monitors along with limited inclination towards refurbished equipment has created strong opportunities for mid-range monitors. These devices provide cost-effective solutions and, therefore, are particularly appealing to end users, the bulk of whom are price-conscious and looking for a one-time investment.
The sales of single-parameter monitors have reduced drastically and the market is moving towards mid-range systems, notes the analyst. End users prefer monitors that measure more than four vital signs and this is supporting the growth of mid-range monitors, especially since the refurbished market is yet to pick up.
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