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Frost & Sullivan: Expanding Patient Population to Support Steady Growth in Multiparameter Patient Monitors Market in Western and Eastern Europe

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3 Pages
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Frost & Sullivan: Expanding Patient Population to Support Steady Growth in Multiparameter Patient Monitors Market in Western and Eastern Europe PR Newswire LONDON, June 15, 2012 - Significant Opportunities Exist for Easy-to-use, Patient-friendly Devices that Enable Rapid and Effective Diagnosis LONDON, June 15, 2012 /PRNewswire/ -- The multiparameter patient monitors market, both in Western and Eastern Europe, is at a stable growth stage. The pressing need for devices that aid effective diagnoses of cardiovascular diseases is a major factor fuelling market growth. An ageing population, along with unhealthy lifestyles, has boosted demand for multiparameter devices. However, growth in some regions is slow because it is largely a replacement market. New analysis from Frost & Sullivan (http://www.patientmonitoring.frost.com), Western and Eastern European Multiparameter Patient Monitors Market, finds that the market earned revenues of $488.6 million in 2010 and estimates this to reach $647.5 million in 2017. The research focuses on the multiparameter patient monitors used in application care settings such as critical care, perioperative care, emergency care, alternate care, transport care, non-critical care and MRI settings. "The most important driver in the market is the need for easy-to-use and patient-friendly devices that enable rapid and effective diagnoses of patients' vital parameters," notes Frost & Sullivan Senior Research Analyst Akanksha Joshi.

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Frost & Sullivan: Expanding Patient Population
to Support Steady Growth in Multiparameter
Patient Monitors Market in Western and
Eastern Europe
PR Newswire
LONDON, June 15, 2012
- Significant Opportunities Exist for Easy-to-use, Patient-friendly
Devices that Enable Rapid and Effective Diagnosis
LONDON
,
June 15, 2012
/PRNewswire/ -- The multiparameter patient monitors
market, both in Western and
Eastern Europe
, is at a stable growth stage. The
pressing need for devices that aid effective diagnoses of cardiovascular
diseases is a major factor fuelling market growth. An ageing population, along
with unhealthy lifestyles, has boosted demand for multiparameter devices.
However, growth in some regions is slow because it is largely a replacement
market.
New analysis from Frost & Sullivan (http://www.patientmonitoring.frost.com),
Western and Eastern European Multiparameter Patient Monitors
Market
, finds that the market earned revenues of
$488.6 million
in 2010 and
estimates this to reach
$647.5 million
in 2017. The research focuses on the
multiparameter patient monitors used in application care settings such as
critical care, perioperative care, emergency care, alternate care, transport
care, non-critical care and MRI settings.
"The most important driver in the market is the need for easy-to-use and
patient-friendly devices that enable rapid and effective diagnoses of patients'
vital parameters," notes Frost & Sullivan Senior Research Analyst Akanksha
Joshi. "The need for accurate diagnoses that will help reduce costs for both
patients and hospitals is also promoting market expansion."
There has been a steady increase in the number of people over the age of 65
across
Europe
. The occurrence of chronic illness, heart disorders and
hypertension is also on the rise. Further, unhealthy lifestyles have made even
younger people prone to diseases.
"Such trends are generating demand for devices that monitor a patient's vital
parameters at all instances – bedside, critical care and during emergencies,"
explains Joshi. "Multiparameter patient monitors fulfil these needs by offering
rapid and accurate diagnosis."
Currently, there is great demand for a pioneering technology with efficient
networking and integrating capability. This would assist in optimal therapy
management by providing rapid diagnoses.
Uneven reimbursement patterns present a challenge to market prospects.
Diverse reimbursement rates across
Europe
make it difficult for manufacturers
to sell their equipment. Moreover, in some cases, private hospitals and clinics
have a limited patient intake due to the lack of reimbursement.
"Competition among manufacturers is intensifying, accompanied by price
erosion," remarks Joshi. "Brand loyalty and stagnant technological development
is creating difficulties for new entrants, while concomitantly, resulting in falling