PRZOOM - /newswire/ -
London, United Kingdom, 2008/07/24 - Technologically advanced, cost-effective cardiovascular monitoring systems are increasingly in demand in Europe. The need for sophisticated, yet user-friendly equipment at affordable rates will offer market participants considerable growth opportunities.
New analysis from Frost & Sullivan (patientmonitoring.frost.com), European Diagnostic Cardiovascular Monitoring Equipment Markets, finds that the market earned revenues of $350.0 million in 2007 and estimates this to reach $491.3 million in 2014.
"Lifestyle changes and an ageing population underpin the increasing incidence of cardiovascular-related illnesses," notes Frost & Sullivan Research Analyst Gideon V. Praveen Kumar. "These trends contribute to an increased need for diagnostic cardiovascular monitoring equipment market in Europe."
Cardiovascular diseases are one of the leading causes of premature death. In Europe alone, about $160 billion is being spent annually on the diagnosis, treatment and rehabilitation of patients with cardiovascular diseases.
Furthermore, statistics have revealed that one in five teenagers suffers from the early signs of heart disease. Under such circumstances, diagnostic cardiac monitoring systems are finding wider application in hospitals and cardiac rehabilitation centres to enable effective diagnosis and therapy.
ECG is a well-established procedure, however there have not been significant technological breakthroughs in recent years and the market continues to persist with old technologies. This situation has been exacerbated by the lack of funds for the research and development of innovative technologies. In addition, the focus on treatment, rather than monitoring modalities, is threatening to impede market momentum.
"Larger participants have always had the upper hand because of their reputation and the superior brand awareness that they have been able to create," adds Kumar. "This is threatening the survival of smaller competitors."
Despite intense competition, growth opportunities exist for companies that form strategic alliances to meet evolving end-user demands. Market expansion will be sustained by technological enhancements that promote greater user friendliness and improve networking and communication capabilities, while supporting cost efficiencies.
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European diagnostic cardiovascular monitoring equipment markets, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
European Diagnostic Cardiovascular Monitoring Equipment Markets is part of the Patient Monitoring Growth Partnership Services Programme, which also includes research in the following markets: Eastern European ICU Monitoring Devices Market, European PACS Market and European Remote Patient Monitoring Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
European Diagnostic Cardiovascular Monitoring Equipment Markets