"As new application avenues, namely clinical long-term monitoring and surgical intra-operative monitoring open up for the European electro-neurophysiological monitors market, the use of these devices is set to gain momentum across the continent", noted Frost & Sullivan Research Analyst Ms. Jessy Varghese. "Meanwhile, MEG equipment is also being researched extensively and its accepted clinical usage will be a major breakthrough paving the way to the doubling up of revenues by 2013."
Moreover, due to the large gap between the demand and supply of hospital services, European governments have been favouring and funding projects related to home care. Accordingly, the increased adoption of home care across Europe is set to promote growth in the electrophysiological monitoring market, resulting in greater need for electromyography (EMG), nerve conduction studies (NCS) and evoked potential (EP) monitor devices.
Besides, inducting the more recent technological elements, namely telemetry and eHealth into NPM devices in the European market has also opened new avenues for rapid market growth. However, with the launch of computed tomography (CT) and magnetic resonance imaging (MRI) modalities, electrophysiological monitoring techniques have suffered a huge blow. Nevertheless, NPM devices have struggled to find their place and the latest trends in application should be given priority.
The long purchase cycle of MEG monitors and the brand loyalty of key end-user groups in the NPM market pose potential challenges to market expansion. "MEG manufacturing companies will have to find ways to stay financially viable during the long periods between equipment sale and payment", explained Ms. Varghese. "Market entry will become difficult and low profile companies introducing technological advancements will face hurdles, thereby delaying market growth."
NPM vendors will have to utilise resources wisely and focus on product R&D to create flexible and extensively tested user-friendly devices. Moreover, emphasis on R&D procedures to efficiently integrate telemetry and e-Health services into this market will prove useful. Manufacturers would also do well to encourage competition, innovation and dynamism, which are essential for success in the NPM market.
"European Neurophysiological Monitors Market" is part of the Patient Monitoring Growth Partnership Service programme, which also includes research on neurological monitoring, telemedicine and remote patient monitoring. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Neurophysiological Monitors Market, you can send an e-mail to Radhika Menon Theodore, Corporate Communications at Frost & Sullivan with your full name, company name, title, telephone number, e-mail address, city, state, and country. You will be sent the information through e-mail upon receipt of the above information.