Increased Need for Remote Patient Monitoring Drives the Data Management Systems for Patient Monitoring Markets in Europe, Finds Frost & Sullivan
By Frost Sullivan, PRNETuesday, July 13, 2010
LONDON, July 14, 2010 - The increased need for real-time data management and the improved
receptiveness of a technology to monitor patients effectively are driving the
markets for data management systems (DMS) for patient monitoring in Europe.
The participants are looking for options that allow physicians to manage the
massive data collected and help reduce errors caused by manual data handling.
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New analysis from Frost & Sullivan (
www.patientmonitoring.frost.com), Data Management Systems for Patient
Monitoring Markets in Europe, finds that the markets earned revenues of
US$126.8 million in 2009 and estimates this to reach US$161.4 million in
2013. The markets covered in this research service are electrocardiogram
(ECG), sleep and respiratory, neurological and anaesthesia.
"European healthcare systems are witnessing a surge in activities
involving IT solutions, mainly due to the affordability and need to
effectively manage large volumes of data," notes Frost & Sullivan Research
Analyst Somsainathan C K. "Most countries are highly receptive to such
technology and are fully aware of its benefits, thereby rapidly driving the
growth of these systems in Europe."
The European patient monitoring markets are experiencing significant
growth due to the rising number of patients availing healthcare services.
Thus, DMS used in patient monitoring are sufficient for real-time management
of data, as they help in instantly charting a patient's data. Similarly, the
stimulus package provided to the healthcare sector in Europe is also fuelling
the introduction of cost-effective IT solutions to ease workloads.
However, outdated technology in a few countries is limiting the usage of
sophisticated DMS.
"The inability to electronically document data, due to outdated systems
and low levels of awareness are the major hurdles to the DMS market,"
explains Somsainathan. "Outdated systems that are not compatible with the
latest technological version of DMS are still prevalent across Europe,
further hindering growth."
Low end-user confidence in the successful implementation of such systems
and pressure on data management solutions providers to provide swift delivery
of systems are some of the other challenges faced by the market participants.
DMS participants should improvise on cost-effective solutions and
enhanced open platform software that will help them penetrate the markets
more effectively. Early adopters of technology such as Germany, the United
Kingdom and France are prototypes for other conservative markets that are
gradually adopting such technology. Superior software that will be compatible
with old machines, coupled with awareness programmes to present the
advantages of using these systems, will help the market participants in
promoting their sales.
"Simplified solutions, open platform software and the provision of
training for staff on the usage of systems will facilitate the market
participants to penetrate the market with ease," concludes Somsainathan.
"However, smaller companies vying for market space should switch to product
differentiation techniques for exciting opportunities."
If you are interested in more information on Frost & Sullivan's latest
research on Data Management Systems for Patient Monitoring Markets in Europe,
please send an e-mail to Katja Feick, Corporate Communications, at
katja.feick@frost.com, with your full name, company name, title, telephone
number, company e-mail address, company website, city, state and country.
Data Management Systems for Patient Monitoring Markets in Europe is part
of the Patient Monitoring Growth Partnership Services programme, which also
includes research in the following markets: Emerging Technologies in Cardiac
Monitoring, European Markets for Multiparameter Mid-range Patient Monitors,
Patient Monitoring - Business in Saturated Markets, and European Market for
Anaesthesia Equipment and Associated Airway Management Devices. All research
services included in subscriptions provide detailed market opportunities and
industry trends that have been evaluated following extensive interviews with
market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to
accelerate growth and achieve best-in-class positions in growth, innovation
and leadership. The company's Growth Partnership Service provides the CEO and
the CEO's Growth Team with disciplined research and best-practice models to
drive the generation, evaluation, and implementation of powerful growth
strategies. Frost & Sullivan leverages over 45 years of experience in
partnering with Global 1000 companies, emerging businesses and the investment
community from 40 offices on six continents. To join our Growth Partnership,
please visit www.frost.com.
Data Management Systems for Patient Monitoring Markets in Europe
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Contact: Katja Feick Corporate Communications - Europe P: +49(0)69-7703343 E: katja.feick@frost.com www.frost.com Twitter: twitter.com/frost_sullivan
Katja Feick of Frost & Sullivan Corporate Communications, Europe, +49(0)69-7703343, katja.feick at frost.com
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