European Mid-Range Patient Monitors MarketsFrost & SullivanJanuary 2, 2006 71 Pages - SKU: MC1262264 |
| Countries covered: Europe European Vendors Face Stiff Competition from Asian Manufacturers With the lowering of entry barriers and onset of market maturity, European vendors of mid-range patient monitors are facing immense pressure from the Asian competitors. Lower manufacturing costs provide Asian manufacturers with a considerable price advantage and the price performance ratios of many of these products also compare favourably with those of European vendors. As a result, manufacturers from the Asian region are beginning to gain a foothold in the eastern European markets, forcing European participants to undertake aggressive priced marketing strategies in order to retain their market hold. This Frost & Sullivan research service is an analysis of the European mid range patient monitors markets. It provides an overview of the European markets for mid-range patient monitors and identifies major market opportunities and challenges while suggesting appropriate strategies. Further, it offers a competitive analysis of the market participants and highlights market trends across various geographic regions. Drive towards Freeing Expensive Critical Care Areas Creating Opportunities for Mid Range Monitors Considering the high costs attached to maintaining critical care areas, estimated between $1000 and $1500 per day, there is a pan European trend towards freeing expensive critical care areas. Subsequently, there is an ongoing move towards the conversion of many lower acuity areas to monitored areas, making available the critical care areas to only the most severe cases. This further ensures the efficient and optimal use of the staff resources, eventually increasing opportunities for the uptake of mid-range patient monitors. Nevertheless, the European mid-range patient monitors market is witnessing tremendous price pressures owing to the cost-containment measures in hospitals as well as budgetary constraints. "Presently, the market is being driven by the ongoing conversion from high-end monitors to mid-range monitors owing to the lack of budgets, and the move towards freeing expensive critical areas," says the analyst of this research service. "With regards to technology, the market is witnessing a slow growth rate and no revolutionary product innovations are expected in the near future." Integration with IT Systems Drawing Greater Priority With increasing importance being accorded to the integration of patient data from multiple sources into a common pool, there is likely to be a revamp of the European mid-range patient monitors markets. Hence, patient monitoring companies face the challenge of creating solutions that enable the hospitals to undergo a smooth transition. This move towards integration with information systems is likely to be the cornerstone for this market, requiring product upgrades and greater client liaising in order to enhance market impact. "Considering the market trends, the European markets for mid-range patient monitors is witnessing a slow growth rate and is expected to show positive growth until 2007, slowing down there after for the next over the next four to five years," says the analyst. "While the immediate cause for the market growth is the mobilisation of marketing initiatives in the form of aggressive pricing and competitive strategies, post 2009, there is likely to be a change in the market scenario with more participants focusing on integration, and therefore the related services sector." |
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