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Published by: Frost & Sullivan
Published: Jun. 13, 2007 - 108 Pages
Table of Contents
- 1. Executive Summary
- 1. Executive Summary
- 1. Executive Summary
- 2. Total Cardiac Monitoring and Diagnostic Services Market
- 1. Market Overview
- 1. Introduction
- 2. Methodology
- 3. Market Drivers
- a. Aging Population Fuels Demand for Increased Outpatient Monitoring
- b. Increased Demand for Wireless Systems Bolsters Market
- c. Device Advancement Creates Information Overload, Stimulating Market
- d. Further Algorithm Development Creates New Opportunities for Application in Market
- e. Decreasing Prices Make Outsourcing More Attractive Exciting Market
- 4. Market Restraints
- a. Continuing Decline in Reimbursement Affects Revenue Potential
- b. Market Saturation Dampens Growth
- c. Reimbursement Definition Restricts Different Modalities of Outpatient Monitoring, Limiting Growth
- d. Trend of Using Other Devices Instead of Pacemakers Hinders Growth Potential
- 5. Segmentation
- 6. Key Market Metrics and Competitive Structure
- 7. Product Overview
- 8. Revenue Forecasts
- 9. Revenue Breakdown by Service Type
- 10. Unit Shipment Breakdown by Service Type
- 11. Point-of-Care Market Overview
- 12. Ambulatory Market Overview
- 13. Market Share Analysis
- 2. Challenges
- 1. Overview
- 2. Mature Market Leads to More Focus on Price as a Competitive Factor
- 3. Lack of Consumer Awareness Hampers Growth Potential
- 4. Continuing Prevalence of Sudden Cardiac Death Creates Need for More Accurate Identification of Candidates for Devices
- 3. Strategic Recommendations
- 1. Overview
- 2. Instigate Value-enhancement Programs Derived from Customer Needs
- 3. Concentrate on Products that Focus on Simplicity and Ease of Use
- 4. Strategically Utilize Wireless and Integrated Information Systems Offered by Service Providers
- 3. Point-of-Care Services Market
- 1. Resting ECG Services Market
- 1. Definition
- 2. Revenue Forecasts
- 3. Unit and Demand Analysis
- 4. Pricing Analysis
- 2. Stress Testing Services Market
- 1. Definition
- 2. Revenue Forecasts
- 3. Unit and Demand Analysis
- 4. Pricing Analysis
- 4. Ambulatory Service Market
- 1. Holter Monitoring Systems Market
- 1. Definition
- 2. Revenue Forecasts
- 3. Unit and Demand Analysis
- 4. Pricing Analysis
- 5. Market Share Analysis
- 2. Event Monitoring Services Market
- 1. Definition
- 2. Revenue Forecasts
- 3. Unit and Demand Analysis
- 4. Pricing Analysis
- 5. Market Share Analysis
- 3. Pacemaker Monitoring Services Market
- 1. Definition
- 2. Revenue Forecasts
- 3. Unit and Demand Analysis
- 4. Pricing Analysis
- 5. Market Share Analysis
- 5. Decision Support Database
- 1. Decision Support Database
- 1. Female Population Aged 65 Years and Above
- 2. Male Population Aged 65 Years and Above
- 3. Number of Hospitals
- 4. Number of Hospital Beds
- List of Figures
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- Chapter 2
- North American Cardiac Monitoring and Diagnostic Services Market: Market Drivers Ranked in Order of Impact (N.A.), 2007-2013
- North American Cardiac Monitoring and Diagnostic Services Market: Market Restraints Ranked in Order of Impact (N.A.), 2007-2013
- North American Cardiac Monitoring and Diagnostic Services Market: Competitive Structure (N.A.), 2006
- Ambulatory Cardiac Monitoring and Diagnostic Market: Database of Commercial Industry Participants by Product Type (N.A.), 2006
- Ambulatory Cardiac Monitoring and Diagnostic Market: Products Offered by Major Market Participants (N.A.), 2006
- North American Cardiac Monitoring and Diagnostic Services Market: Revenue Forecasts (N.A.), 2003-2013
- North American Cardiac Monitoring and Diagnostic Services Market: Percent Change in Reimbursement by CPT Code (N.A.), 2000-2007
- North American Cardiac Monitoring and Diagnostic Services Market: Percent of Revenues by Service Segment (N.A.), 2003-2013
- North American Cardiac Monitoring and Diagnostic Services Market: Percent of Revenues by Service Type (N.A.), 2003-2013
- North American Cardiac Monitoring and Diagnostic Services Market: Percent of Unit Demand
- North American Cardiac Monitoring and Diagnostic Services Market: Percent of Unit Demand by Service Type (N.A.), 2003-2013
- Point-of-Care Services Markets: Revenue Forecasts (N.A.), 2003-2013
- Ambulatory Services Market: Revenue Forecasts (N.A.), 2003-2013
- Ambulatory Services Market: Percent of Revenues by Services Type (N.A.), 2003-2013
- Ambulatory Services Market: Percent of Unit Demand by Services Type (N.A.), 2003-2013
- Ambulatory Services Market: Market Share of Major IDTF Participants (N.A.), 2006
- North American Cardiac Monitoring and Diagnostic Services Market: Impact of Top Industry Challenges (N.A.), 2007-2013
- North American Cardiac Monitoring and Diagnostic Services Market: Strategic Recommendations (N.A.), 2006-2013
- Chapter 3
- Resting ECG Services Market: Revenue Forecasts (N.A.), 2003-2013
- Resting ECG Services Market: Unit Demand Forecasts (N.A.), 2003-2013
- Resting ECG Services Market: Pricing Forecasts (N.A.), 2003-2013
- Cardiac Stress Testing Services Market: Revenue Forecasts (N.A.), 2003-2013
- Cardiac Stress Testing Services Market: Unit Demand Forecasts (N.A.), 2003-2013
- Cardiac Stress Testing Services Market: Pricing Forecasts (N.A.), 2003-2013
- Chapter 4
- Holter Monitoring Services Market: Revenue Forecasts (N.A.), 2003-2013
- IDTF Holter Monitoring Services Market: Revenue Forecasts (N.A.), 2003-2013
- Holter Monitoring Services Market: Unit Demand Forecasts (N.A.), 2003-2013
- Holter Monitoring Services Market: Pricing Forecasts (N.A.), 2003-2013
- Holter Monitoring Services Market: Market Share of Major IDTF Participants (N.A.), 2006
- Cardiac Event Monitoring Services Market: Revenue Forecasts (N.A.), 2003-2013
- Cardiac Event Monitoring Services Market: Revenue Forecasts (N.A.), 2003-2013
- Cardiac Event Monitoring Services Market: Unit Demand Forecasts (N.A.), 2003-2013
- Cardiac Event Monitoring Services Market: Pricing Forecasts (N.A.), 2003-2013
- Cardiac Event Monitoring Services Market: Market Share of Major IDTF Participants (N.A.), 2006
- Pacemaker Monitoring Services Market: Revenue Forecasts (N.A.), 2003-2013
- Pacemaker Monitoring Services Market: Unit Demand Forecasts (N.A.), 2003-2013
- Pacemaker Monitoring Services Market: Pricing Forecasts (N.A.), 2003-2013
- Pacemaker Monitoring Services Market: Market Share of Major IDTF Participants (N.A.), 2006
AbstractThe Frost & Sullivan research service titled North American Cardiac Monitoring and Diagnostic Services Markets provides an overview of this market through estimates and forecasts of market revenues, unit shipments, and pricing analysis, along with an in-depth discussion of market drivers, restraints, industry challenges, strategies, and trends that are impacting the market. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets: resting ECG, stress testing, Holter monitoring, event monitoring, and pacemaker monitoring services.
Continuing Decline in Reimbursement Creates Market Instability
North American cardiac monitoring service providers are facing some difficult times with ever declining reimbursement and the distinct possibility of larger decreases on the horizon. In addition, the heightened focus on price to gain a competitive advantage has depressed the market. With decreasing reimbursement rates lowering profit margins, an increasing number of hospitals will be inclined to utilize external service providers for information gathering and analysis. Some service providers even have their own interpretive physicians on roll to provide the service in its entirety.
Nevertheless, the continuing prevalence of cardiovascular disease and growth in patient populations will provide for the markets development. The ageing North American population, in particular, is expected to fuel demand for increased outpatient monitoring as instances of cardio vascular diseases (CVD) increase dramatically with age. "According to Centers for Disease Control and Prevention (CDC) and National Center for Health Statistics (NCHS) statistics, while only about 5 to 10 percent of the population between 20 and 29 years of age is affected by CVD, this figure is close 70 to 80 percent in the over 75 years age bracket," notes the analyst of this research service. "Furthermore, the number of people over 65 in the United States is increasing by two or three million every year, making for a constantly expanding patient base."
Increased Demand for Wireless Systems Bolsters Market Growth
Wireless systems are fast penetrating the point-of-care market and are to a greater extent driving the ambulatory market. In this market, as in many others, patient compliance is a key component to successfully managing the disease. Toward this, wireless systems such as cell phone technology, can significantly improve compliance rates as they are less obtrusive than wire bound devices. Using a wireless device to transmit data back to the data processing center also eliminates many of the restrictions placed on the patient during the monitoring session. These benefits promise to increase overall compliance, and service providers that utilize this capability will have a distinct advantage in addition to persuading more healthcare providers to utilize this form of monitoring. Going forward, as these technological advancements further penetrate the market, they can be expected to generate greater revenues for ambulatory service providers.
By service type, the point-of-care market accounts for the majority of the revenues, with about 65 percent. The ambulatory market comprises the remaining 35 percent, but is likely to see faster growth over the forecast period. "Simplicity and ease of use are key to success in the cardiac monitoring and diagnostic services markets," says the analyst. "While some cardiac monitoring products are used by physicians or trained technicians, many ambulatory monitoring products
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