VANCOUVER, BC--(Marketwired - October 20, 2016) - According to a new series of reports on the European patient monitoring equipment market by iData Research (www.idataresearch.com), low cost competition have consistently seized opportunities within the market. Consequently, the price of medical monitoring devices in Europe continues to be driven lower, especially in smaller countries that make fewer large purchase deals each year. Although increased economic stability and spending has fostered improved outlooks, reduced public healthcare budgets across Europe continue to limit growth within many mature patient monitoring segments.
"Despite growing demand for quality patient monitoring solutions, some hospitals cannot afford the higher cost monitoring platforms in light of budget constraints," explains Dr. Kamran Zamanian, CEO of iData. "Limited budgets have also resulted in hospital closures or consolidation in favor of centralized treatment centers."
The largest segment in the European market for patient monitoring devices is the multi-parameter vital signs monitoring market. However, by 2022 the telehealth market will grow to account for the majority of the market whereas the multi-parameter monitoring device market will remain stable within the high and mid-acuity segments. This adoption of less-invasive, more accessible, patient-centric telehealth monitoring device configurations are in line with the general drive to improve patient outcomes through reduced complication and mortality rates, thereby promoting long term cost savings. This will help, in turn, to improve the quality of care while alleviating the pressure associated with budgetary constraints across the care continuum.
The multi-parameter vital signs monitoring device market, telemetry market, EMG device market and fetal and neonatal monitoring markets are expected to remain stable over the next several years. These markets include mature segments where increases in unit volumes will be driven primarily by replacement sales. Despite increasing unit sales, increased competitiveness within the total patient monitoring market has had a negative impact on market growth. The adoption of budget friendly monitoring platforms has placed significant downward pressure on pricing over the last few years, especially within Southern European markets.
Philips Healthcare is the leading competitor within the European patient monitoring market followed by Medtronic. Philips competes in all four multi-parameter vital signs monitoring market segments in addition to holding a strong presence in the telemetry, fetal and neonatal as well as telehealth monitoring markets. Medtronic, on the other hand, has seen enormous growth through their acquisition of Covidien in 2015 and is now the market leader in both the peripheral pulse oximetry and rapidly growing telehealth markets. Additional competitors in the European patient monitoring markets include GE Healthcare, Mindray Medical, Dräger Medical, Tunstall, Edwards Lifesciences, Natus Medical, Nihon Kohden, Biotronik, Masimo, Pulsion Medical, Cheetah Medical, Welch Allyn, St. Jude Medical, Spacelabs Healthcare, Boston Scientific, Docobo Ltd, Edan Instruments Inc., EBNeuro, Nonin Medical, LiDCO, Aerotel, Deltex Medical and Micromed among others.
For Further Information
More on the patient monitoring devices market in Europe can be found in a series of reports published by iData Research entitled the European Market Report Suite for Patient Monitoring Equipment. The suite covers reports on the following markets: Wireless Ambulatory Telemetry Monitors, Telehealth, Peripheral Pulse Oximeters, Fetal and Neonatal Monitoring, Electroencephalogram Monitoring, Electromyogram Monitoring, Cardiac Output Monitoring, and Multi-Parameter Vital Signs Monitoring.
The iData report series on patient monitoring equipment covers U.S., Japan, South Korea, Australia, and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about patient monitoring market data or procedure data, register online or email us at firstname.lastname@example.org for a European Market Report Suite for Patient Monitoring Equipment brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more.