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European Patient Monitoring Market


London, UK – 6th September, 2005 - Despite playing a crucial role in the intensive and critical care units of hospitals, patient monitoring devices are facing tough times in Europe with national governments coming under severe pressure to reduce the number of hospitals in their countries. This market is rapidly reaching maturity and future growth is increasingly becoming dependent upon the replacement of existing equipment.

“This being the case, manufacturers of patient monitoring devices will need to maximise replacement opportunities,” remarks Frost & Sullivan (http://medicaldevices.frost.com) Research Analyst Aarati Ajay. “The key challenge facing them is to increase expenditure on research and development (R&D) so as to manufacture advanced equipment that can replace the existing ones.”

One of the key trends observed in the market over the last few years is the growing consolidation of companies in the form of mergers and acquisitions. Abbott Laboratories, for instance, has experienced a series of such changes, from the acquisition of Medisense to the recent acquirement of i-STAT in 2003 and Therasense in 2004. The company is, therefore, poised to grow by means of strategic acquisitions, market expansions and new product introductions.

Other companies such as Bayer Diagnostics and Lifescan, Inc. also have a significant presence in the area of continuous blood glucose monitoring systems and provide strong competition to Abbott. Bayer’s diabetes care division provides products from insulin pumps to blood glucose monitors while Lifescan is a leading expert in diabetes management.

The remote patient monitoring segment is also set to expand due to an increasing number of aging baby boomers that might require intensive home care. People over the age of 65 are likely to be the largest beneficiaries of healthcare expenditure. The fact that more than 18 percent of the European population belongs to this age group places huge importance on systems that can help in the disease management of this group.

“Disease management systems are the future of patient monitoring,” notes Ms. Ajay. “Systems with inherent abilities to monitor and interact with patients are expected to play a decisive role in the growth of the patient monitoring market.”

Moreover, with the initiative of the national governments in Europe to cut down on the number of hospitals, there is an urgent need to identify alternatives means to provide much-needed medical care to those who need it. Remote patient monitoring could provide a timely solution to this problem.

At the same time, there is a need for new technological developments that can propel the market forward. The move from mere monitoring to patient management and the realisation of wireless technology and remote patient monitoring, indicates that these developments are already taking place.

Many companies have contributed significantly to the technological progress of the market. Spacelabs Medical, Inc., for instance, has developed monitoring information systems that make patient data available anytime, anywhere. Welch Allyn, Inc. has pioneered lightweight multiparameter systems that work as bedside as well as portable or ambulatory monitors while GE Healthcare has launched the world’s first non-invasive hemodynamic patient monitor.

“It is increasingly clear that participants in the patient monitoring market need to focus on developing new technologies for which enhanced R&D expenditure is necessary,” says Ms. Ajay. “The need of the hour is to create products that can help solve the prime concerns of healthcare providers – the growing patient population and burgeoning costs.”

If you are interested in an analysis overview, which provides manufacturers, end users, and other industry participants with a synopsis of Profiles of Key Participants in the European Patient Monitoring Market (B581-56) – then send an e-mail to Katja Feick – Corporate Communications at Katja.feick@frost.com


Publisher Contact Information:

Frost & Sullivan
+44 (0)20 7915 7856
katja.feick@frost.com

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