This Frost & Sullivan research service titled European Neurophysiological Monitors Market provides an analysis of market dynamics, key drivers and restraints. The study includes the market trends in Germany, France, Italy, Spain, the United Kingdom, Benelux and Scandinavia. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: EMG/NCS/EP and MEG equipment.
Market Overview
Rising Prevalence of Neurological Disorders Creates Growth Opportunities
With the increasing prevalence of neurological disorders in Europe, neurophysiological monitoring (NPM) devices are gaining significance. Growing importance of long-term monitoring (LTM) and intra-operative monitoring (IOM) is driving the NPM market, along with increased clinical diagnostic verification of magnetoencephalograph (MEG) monitoring equipment. Moreover, with the large gap between the demand and supply of hospital services, European governments have been favouring and funding projects related to home care. This has led to the increased need for preventive measures and early diagnosis in order to reduce the number of patients requiring hospital care. Apart from this, inducting the more recent technological elements, namely telemetry and eHealth into NPM devices in the European market has also opened up new avenues for rapid growth.
"As new application avenues, namely clinical LTM and surgical IOM open up for the European electro-neurophysiological monitors market, the use of these devices is set to gain momentum across the continent," notes the analyst of this research service. "Meanwhile, MEG equipment is also being researched extensively and its accepted clinical usage will be a major breakthrough, paving the way to the doubling up of revenues by 2013."
Emphasis on Product R&D Made Essential
With the launch of computed tomography (CT) and magnetic resonance imaging (MRI) modalities, electrophysiological monitoring techniques have suffered a huge blow. However, NPM devices have struggled to find their place and the latest trends in application should be given priority. The increased adoption of home care across Europe is set to promote growth in the electrophysiological monitoring market, resulting in greater need for eletcromyograph (EMG), nerve conduction studies (NCS) and evoked potential (EP) monitor devices.
The long purchase cycle of MEG monitors and the brand loyalty of key end-user groups in the NPM market pose potential challenges to market expansion. "MEG manufacturing companies should find ways to stay financially viable during the long periods between equipment sale and payment," explains the analyst. "Market entry will become difficult and low-profile companies introducing technological advancements are likely to face hurdles, thereby delaying market growth." NPM vendors will have to utilise resources wisely and focus on product R&D to create flexible and extensively tested user-friendly devices. Moreover, emphasis on R&D procedures to efficiently integrate telemetry and e-Health services into this market will prove useful. Manufacturers would also do well to encourage competition, innovation and dynamism, which are essential for success in the NPM market.
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