Frost: Fast Results Boost Euro Penetration Rates of Blood Gas Analyzers, Monitors
February15 , 2007 // Published as a news service by IHS
| |
| Medical Device Documents |
IHS medical device standards collections contain EU Directives and Harmonized Standards from the Official Journal of the European Union.
Complete this form for a free quote. |
|
| |
After overcoming restraining factors such as price, the hospital use of blood gas analyzers and monitors is increasing across Europe.
According to Frost & Sullivan, the ability to deliver vital parameters instantaneously has driven the market, while creating extremely lucrative growth opportunities.
Recent analysis from Frost & Sullivan found that the European blood gas analyzers and monitors market will earn revenues of $360.5M in 2006, with estimates to reach $470M in 2013.
"The growing need for immediate bedside results, coupled with the rising patient population, has led to the enhanced penetration of blood gas monitors and analyzers," said Frost & Sullivan research analyst C.R. Hema Varshika.
"Laboratory tests that used to take around 30 minutes for the result to be obtained are now a thing of the past; currently manufactured point-of-care (POC) devices yield immediate answers."
Regulatory problems and competition from local participants constitute the main challenges in the market. Analysts said each country has a distinct system of purchasing equipment and this disparity can only be overcome once countries adopt uniform laws.
At the same time, high levels of brand consciousness among hospitals and intense competition from local participants will deter prospective market entrants.
"Increased penetration in this mature market can be achieved only through innovative products and effective marketing strategies," said Varshika. "Proactive marketing of technologically advanced and user-friendly products will lead to a rise in market share."
Source: Frost & Sullivan.