The European market for cardiovascular monitoring equipment generated revenues of $111.9 million in 2003, trailing only the U.S. and Japanese markets, according to market research firm Frost & Sullivan.
Driven by technological advances and product replacements, the European market is poised to expand to $133.1 million in 2009, according to the San Jose, CA-based firm.
Frost & Sullivan expects growth to be sustained by technological enhancements that promote user-friendliness, improved equipment networking and communication capabilities, and greater cost-efficiencies. Recent advances in data integration capabilities include universal standards or XML-based storage and export capabilities, according to the company.
New products are also leveraging PC-based devices to provide multiple modalities and ECG data management, Frost & Sullivan said. The aging of the European population is also likely to produce a corresponding growth in ECG usage, the firm said.
In line with market cost-containment pressures, sales of middle tier or clinic-type ECG systems are rising. This trend is being reinforced by the heightened price sensitivity and relatively greater saturation of the hospital market, and growth opportunities are shifting from large hospitals to clinics, Frost & Sullivan said.
By AuntMinnie.com staff writersMarch 2, 2004
Related Reading
European PACS market poised for growth on gains in enterprise sector, February 10, 2004
Affordable equipment accelerates ultrasound proliferation, January 26, 2004
Frost predicts tripling of non-mammo breast imaging in U.S., December 9, 2003
Frost sees growth in European equipment-services market, August 7, 2003
Image-guided/robot-assisted surgery markets to grow, June 18, 2003
Copyright © 2004 AuntMinnie.com
