Patient Monitoring Solutions Market in Europe offers lucrative opportunities

Tuesday 15th September 2009

The market potential for patient monitoring solutions has largely remained untapped, while the demand that potentially exists is significant.

Ageing baby boomers and the expansion of the middle class are the main drivers of the European patient monitoring market.

Baby boomers are the leading consumers in healthcare by being more involved in the decision-making process on their treatment and overall health management. Moreover, the major impetus for physicians, hospitals and home health organisations to focus on monitoring their patients is cost.

European Patient Monitoring Market Outlook-2009, finds that the market earned revenues of over $2,032.0 million in 2008 and estimates this to reach $2,600.4 million in 2012. The market segments covered in this research are central station monitoring, multi parameter monitoring, vital signs monitoring, remote patient monitoring, telemetry monitoring, and telemedicine monitoring.

"In the last decade, several long-term trends have emerged, which have driven the need for advanced patient care in the intermediate and sub-acute areas of the hospital," says Frost & Sullivan Senior Research Analyst Janani Narasimhan.

"Additionally, the susceptibility and seriousness of illnesses for patients electing to be admitted to a hospital has also increased."

The rapid turnover of patients from critical care to sub-acute areas continues to boost the demand for patient monitoring devices in cardiac step-down units, other sub-acute care areas and home care.

Twelve European Union (EU) countries have made their e-health systems compatible, coming together for the launch of a large-scale healthcare IT pilot project – European patient smart open services (epSOS) – in 2008.

The epSOS, supported by the European Commission (EC), aims to create interoperability of national e-health systems. Among the twelve countries that have already signed up for this three year project are: Austria, the Czech Republic, Denmark, France, Germany, Greece, Italy, the Netherlands, Slovakia, Spain, Sweden and the United Kingdom.

Standardisation of e-health systems across Europe implies that citizens who fall ill in the member state that is not their own will be able to have a local physician from any EU state access their vital information quickly and accurately.

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