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Expanding Patient Pool Ensures Stable Growth for the European Cardiac Patient Monitoring Market Says Frost & Sullivan - Advanced applications to drive market revenues to $583.6 million by 2016
Expanding Patient Pool Ensures Stable Growth for the European Cardiac Patient Monitoring Market Says Frost & Sullivan

 

PRZOOM - /newswire/ - London, United Kingdom, 2011/07/13 - Advanced applications to drive market revenues to $583.6 million by 2016.

   
 
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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.

New analysis from Frost & Sullivan (patientmonitoring.frost.com), European Cardiac Patient Monitoring Solutions Outlook, finds that the European market for cardiac patient monitoring earned revenues of $389.3 million in 2009 and estimates this to reach $583.6 million in 2016. The following segments are covered in the research: resting ECG, stress ECG, Holter monitor, cardiac event recorder and ECG data management systems.

"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 Frost & Sullivan Senior Research Analyst Akanksha Joshi. "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.

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 Joshi. "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 Joshi. "This approach would invoke the medical community's interest and push replacement sales."

If you are interested in more information on this study, please send an email with your contact details to Janique Morvan, Corporate Communications, at janique.morvan[.]frost.com.

European Cardiac Patient Monitoring Solutions Outlook is part of the Patient Monitoring Growth Partnership Service programme, which also includes research in the following markets: European Market for Ventilation and Airway Management Devices, European Markets for Disease Management, European Market for Multi-parameter mid range Patient Monitors and European Telemetry Equipment Market. All research 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 (frost.com), 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 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

European Cardiac Patient Monitoring Solutions Outlook / M621

 
 
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Expanding Patient Pool Ensures Stable Growth for the European Cardiac Patient Monitoring Market Says Frost & Sullivan

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