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Value-added Benefits to Prevent Cardiac Monitoring Companies from Flatlining Finds Frost & Sullivan - Cardiac monitoring companies consistently strive to offer innovative ways to meet customer demands and stay afloat in an intensely competitive North American cardiac monitoring product market
Value-added Benefits to Prevent Cardiac Monitoring Companies from Flatlining Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mountain View, CA, United States, 2010/08/16 - Cardiac monitoring companies consistently strive to offer innovative ways to meet customer demands and stay afloat in an intensely competitive North American cardiac monitoring product market.

   
 
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The difficult economic conditions of 2009, along with the unresolved status of healthcare reform, have placed the spotlight on price as costs are a concern for all healthcare providers.

Declined reimbursement for ECG monitoring devices continues to limit revenue potential. Recent large drops, as seen in 2009, only intensify this price-based competition. As customers are also skeptical about the value of these products, manufacturers must devise inventive strategies to demonstrate their systems’ efficiency and capabilities.

New analysis from Frost & Sullivan (patientmonitoring.frost.com), North American Cardiac Monitoring Product Market Outlook, finds this market earned revenues of $335.4 million in 2009, an increase of 2.8 percent over the previous year, growing at a compound annual growth rate (CAGR) of 3.0 percent from 2009 to 2016. Revenues expect to reach $413.3 million in 2016.

If you are interested in more information on this study, please send an email to Johanna Haynes, Corporate Communications, at johanna.haynes[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

"As healthcare providers attempt to manage their information management needs, it is important to focus on factors other than price to gain a competitive advantage in this highly mature market," says Frost & Sullivan Industry Manager Zachary Bujnoch. "For example, ease of use and value enhancement programs derived from customer needs can go a long way in establishing a company in the marketplace and setting it apart from the competition."

Ease of use will be a vital selling point, as patient monitoring systems find increasing application outside of the hospital setting due to the growing popularity of preventative home monitoring and other non-clinical home healthcare solutions. Although many of these devices must still prove their sustainability and data clarity, their potential is impressive.

Meanwhile, the growing cardiac patient population, along with increased use and acceptance of novel continuous monitoring technologies, dramatically changes the structure of the traditional event monitoring market. Advanced technologies such as Mobile Cardiac Outpatient Telemetry (MCOT) and Lifestar ACT have already made a mark on the market and buoyed its revenues.

"The higher price point for these services provides a major boost to the stagnant market despite decreasing price points in other segments," notes Bujnoch. "Apart from this, the potential for better clinical outcomes with new cardiac monitoring technologies changes the market landscape, and with an established reimbursement code, these new technologies are here to stay."

North American Cardiac Monitoring Product Market Outlook is part of the Patient Monitoring Growth Partnership Services program, which also includes research in the following markets: North American Vital Signs Monitoring Markets, North American Home Healthcare and Disease Management Remote Monitoring Markets, North American Multiparameter Patient Monitoring Equipment Markets, and North American AED Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

North American Cardiac Monitoring Product Market Outlook / N7AB

 
 
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Value-added Benefits to Prevent Cardiac Monitoring Companies from Flatlining Finds Frost & Sullivan

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