Opportunities for cardiovascular monitoring in Europe

Friday 25th July 2008

Technologically advanced, cost-effective cardiovascular monitoring systems are increasingly in demand in Europe. The need for sophisticated, yet user-friendly equipment at affordable rates will offer market participants considerable growth opportunities in this sector.

New analysis from Frost & Sullivan - European Diagnostic Cardiovascular Monitoring Equipment Markets -  finds that the market earned revenues of US $350.0 million in 2007 and estimates this to reach US $491.3 million in 2014.

"Lifestyle changes and an ageing population underpin the increasing incidence of cardiovascular-related illnesses," said Frost & Sullivan Research Analyst Gideon V Praveen Kumar. "These trends contribute to an increased need for diagnostic cardiovascular monitoring equipment market in Europe."

Cardiovascular diseases are one of the leading causes of premature death. In Europe alone, about US $160 billion is being spent annually on the diagnosis, treatment and rehabilitation of patients with cardiovascular diseases.

Furthermore, statistics have revealed that one in five teenagers suffers from the early signs of heart disease. Under such circumstances, diagnostic cardiac monitoring systems are finding wider application in hospitals and cardiac rehabilitation centres to enable effective diagnosis and therapy.

ECG is a well-established procedure, however there have not been significant technological breakthroughs in recent years and the market continues to persist with old technologies. This situation has been exacerbated by the lack of funds for the research and development of innovative technologies. In addition, the focus on treatment, rather than monitoring modalities, is threatening to impede market momentum.

"Larger participants have always had the upper hand because of their reputation and the superior brand awareness that they have been able to create," said Kumar. "This is threatening the survival of smaller competitors."

Despite intense competition, growth opportunities exist for companies that form strategic alliances to meet evolving end-user demands. Market expansion will be sustained by technological enhancements that promote greater user friendliness and improve networking and communication capabilities, while supporting cost efficiencies.

Frost & Sullivan