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European Cardiac Patient Monitoring Solutions Outlook
Frost & Sullivan, March 2011, Pages: 119
This research service provides a qualitative and quantitative analysis for cardiac patient monitoring market in Europe. The rise in aging population and increased occurrence of cardiovascular diseases across the globe has increased the demand for devices for monitoring cardiovascular disorders. The equipment used for diagnoses include Resting ECG, Stress ECG, Holter monitor, Cardiac Event Recorder, ECG Data management systems. The market growth is stable. This research service includes only the device used to measure Electrocardiogram.
Research Overview
This Frost & Sullivan research service titled European Cardiac Patient Monitoring Solutions Outlook provides a comprehensive examination of the market including key drivers and restraints. It also discusses important industry challenges and offers strategic recommendations. The following segments are covered in the research: resting ECG, stress ECG, Holter monitor, cardiac event recorder and ECG data management systems.
Market Overview
Advanced Cardiac Patient Monitoring Systems with Enhanced Capabilities to Make Strong Gains
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. “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 the analyst of this research. “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.
Competitive Strategies to Focus on Product Differentiation and Collaboration with Local Companies
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 the analyst. “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 the analyst. “This approach would invoke the medical community’s interest and push replacement sales.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following product segments in this research:
- Resting ECG
- Stress ECG
- Holter monitor
- Cardiac event recorder
- ECG data management systems
By Country
- Benelux
- France
- Germany
- Italy
- Scandinavia
- Spain
- United Kingdom
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