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Data Management Systems for Patient Monitoring Markets in Europe
Frost & Sullivan, Dec 2009, Pages: 68
This Frost & Sullivan research service titled Data Management Systems for Patient Monitoring Markets in Europe provides a detailed analysis of the market for the software used in data management systems (DMSs). In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: electrocardiogram (ECG), sleep and respiratory, neurological and anaesthesia.
Market Overview
The Need for Real-time Data Management Boosts the Markets for Data Management Systems for Patient Monitoring in Europe
Rise in demand for real-time data management, along with improved receptiveness of technology to monitor patients effectively, is driving the markets for DMSs for patient monitoring in Europe. The participants are looking for options that allow physicians to manage the massive data collected and help reduce errors caused by manual data handling. “European healthcare systems are witnessing a surge in activities involving IT solutions, mainly due to the affordability and need to effectively manage large volumes of data,” notes the analyst of this research. “Most countries are highly receptive to such technology and are fully aware of its benefits, thereby rapidly driving the growth of these systems in Europe.” The European patient monitoring markets are experiencing significant growth due to the rising number of patients availing healthcare services. Thus, DMSs used in patient monitoring are sufficient for real-time management of data, as they help in instantly charting a patient’s data. The stimulus package provided to the healthcare sector in Europe is also fuelling the introduction of cost-effective IT solutions to ease workloads.
However, outdated technology in a few countries is limiting the usage of sophisticated DMSs. “The inability to electronically document data, due to outdated systems and low levels of awareness are major hurdles to the DMS market,” explains the analyst. “Outdated systems that are not compatible with the latest technological version of DMS are still prevalent across Europe, further hindering growth.” Low end-user confidence in the successful implementation of such systems and pressure on data management solutions providers to provide swift delivery of systems are some of the other challenges faced by the market participants.
DMS participants should improvise on cost-effective solutions and enhanced open platform software that will help them penetrate the market more effectively. Early adopters of technology such as Germany, the United Kingdom and France are prototypes for other conservative markets that are gradually adopting such technology. Superior software that will be compatible with old machines, coupled with awareness programmes to present the advantages of using these systems, will help the market participants in promoting their sales. “Simplified solutions, open platform software and the provision of training for staff on the usage of systems will facilitate the market participants to penetrate the market with ease,” concludes the analyst. “However, smaller companies vying for market space should switch to product differentiation techniques for exciting opportunities.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Electrocardiogram (ECG)
- Sleep and respiratory
- Neurological
- Anaesthesia
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