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Patient Monitoring Equipment Leasing Opportunities in Europe
Frost & Sullivan, Sep 2010, Pages: 81
This research service provides a qualitative and quantitative analysis for patient monitoring equipment leasing market in Europe. The rise in aging population and increased occurrence of COPD, cardiovascular disorder, chronic illness across the globe has increased the demand for devices for monitoring vital parameter for patients. The economic down turn had slowed the European leasing industry. However the medical industry still witnessed a period of growth. The right kind of promotional strategies could boost the market for leasing patient monitoring equipment.
This research service titled Patient Monitoring Equipment Leasing Opportunities in Europe provides a comprehensive analysis of the patient monitoring equipment leasing opportunities in Europe. In this research, Frost & Sullivan's expert analysts thoroughly examine the following products: vital sign monitors, patient monitors, ventilators, anaesthesia machines, multi-parameter monitors and telemetry equipment. The regions covered in this research are Benelux, Germany, France, Italy, Scandinavia, Spain and the United Kingdom.
Market Overview
A Surge in the Aging Population and Chronic Diseases Paves Way for Patient Monitoring Equipment Leasing Opportunities in Europe
Medical equipment undergoes rapid technological advancements that lead to significant depreciation for equipment existing in the patient monitoring equipment market in Europe. Hence, leasing provides an opportunity for healthcare facilities to upgrade their equipment as earlier as possible once the rental term is over. Aging population, along with the higher incidence of chronic diseases, has led to rise in the requirement of patient monitoring equipment. “Patients and therapists prefer a homecare environment over a hospital stay as the latter is more expensive,” says the analyst of this research. “These patients seek individual financing options for the medical equipment, thereby increasing the need for leasing of patient monitoring equipment.” In Western Europe, aged population has risen along with the occurrence of fatal diseases like cardiovascular diseases, driving the need for regularised monitoring of various vital parameters of patients. When the purchasing power of hospitals is rigid, a viable option is to lease the latest medical equipment.
However, the total European patient monitoring equipment leasing market is highly fragmented. End users can obtain medical equipment through manufacturers as a sales-aided lease or with a bank lease. Competition in the total market is becoming intense due to participation of these diverse businesses, thus making it challenging for new entrants and small businesses to attract end users. Additionally, the total patient monitoring equipment market being a replacement one reduces the need for leasing of medical equipment. “Growth in the European patient monitoring equipment market is saturated with the demand for replacement of already installed equipments,” explains the analyst. “Since most of the patients monitoring equipment have a long replacement life, the current market situation hinders its demand.”
Manufacturers should highlight the advantages of leasing medical equipment to end users. Patient monitoring equipment has a long replacement life and can be upgraded to a technologically superior quality by using an operating lease as a financing solution. “The government should offer tax breaks on the purchase of patient monitoring equipment,” concludes the analyst. “This will decrease the amount to be spent by healthcare facilities for equipment purchase.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product:
- Vital sign monitors
- Patient monitors
- Ventilators
- Anaesthesia machines
- Multi-parameter monitors
- Telemetry equipment
By Region:
- Benelux
- Germany
- France
- Italy
- Scandinavia
- Spain
- The United Kingdom
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