The patient monitoring market in Europe is still untapped, says a report from
Frost & Sullivan. The report states that there has been a considerable increase in the patient monitoring systems as physicians, hospitals and home health organizations concentrate more in this aspect of healthcare.
As the hospitals across the Europe realize the benefits of implementing patient monitoring systems, the demand for such devices have increased multifold. Patient monitoring not only helps to save valuable lives, but it also makes monitoring more effective and economical.
The report states that European Patient Monitoring Market earned revenues of over $2,032.0 million in 2008. It also states that this revenue will reach $2,600.4 million in 2012. This report covers market segments such as 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," said Frost & Sullivan Senior Research Analyst Janani Narasimhan in a release. “Additionally, the susceptibility and seriousness of illnesses for patients electing to be admitted to a hospital has also increased. Fast changing technology makes it difficult for providers to sustain growth.”
According to the report, another reason for increase in patient monitoring is the rapid turnover of patients from critical care to sub-acute areas. Also, 12 European Union (EU) countries have come together for the launch of a large-scale healthcare IT pilot project and made their e-health systems compatible. These countries include Austria, the Czech Republic, Denmark, France, Germany, Greece, Italy, the Netherlands, Slovakia, Spain, Sweden and the United Kingdom.
Recently, the company
released a new analysis about the SAS Competitive Benchmarking of Telemedicine Vendors in Europe. The survey finds that the European telemedicine market generated revenues of $118 million in 2007 and could reach $236 million by 2014. Frost says that the government will be compelled to adopt certain eHealth strategies accompanied by concrete actions.
