Innovative Product Development to Stimulate European Sleep Diagnostic and Associated Data Management Systems Market

Mumbai, Maharashtra, India

Healthcare authorities are becoming increasingly concerned over sleep disorders, their comorbidities and the fatalities that result from leaving such conditions unattended. To leverage emerging opportunities and enlarge the scope for market growth, companies must develop cost-effective and innovative technologies.

Frost & Sullivan (http://www.patientmonitoring.frost.com) estimates that the Sleep Diagnostic and Its Data Management Systems Market in Europe will earn revenues of $67.2 million in 2006 and reach $143.8 million in 2013.

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"Even as a general entrepreneurial trend in the European healthcare service sector promotes the use of cost-effective technologies, the development of robust and inexpensive sleep diagnostic systems will drive the market into a rapid growth stage," notes Frost & Sullivan Research Analyst Jessy Varghese. "At the same time, mounting concerns over the toll sleep disorders extract in terms of decreased workplace productivity and increased road traffic accidents, will boost demand for effective solutions."

Overcoming its relative stagnation in the past year, the market is currently experiencing a steady transition towards fast growth. To promote uptake, solution providers need to focus on developing robust, innovative products with simpler, yet superior diagnostic capabilities.

"Sleep diagnostics will experience tremendous growth in terms of innovation and product development over the next few years," comments Ms. Varghese. "To maximise on growth potential, diagnostic system vendors need to effectively balance production costs with technical efficacy."

Sleep diagnostic vendors will have to formulate strategies to augment research into inexpensive, ambulatory screeners and actigraphs. Continued dedication to research and product development will ensure more accurate and reliable offerings.

However, low awareness levels among healthcare authorities is discouraging government-funded research into sleep disorders. Multidisciplinary physicians and general practitioners need to take cognisance of the links between sleep disorders and cardiac and neuro anomalies. Recognising the therapeutic links between sleep disorders and a range of health conditions will boost screening and encourage further diagnosis of sleep abnormalities.

"Innovative technological development to increase the ease of diagnostic studies and exhaustive outcome validation in terms of informational equivalence to the 'gold standard' of Polysomnography are essential exercises that sleep diagnostic vendors must continually undertake to ensure accuracy, reliability and cost-effectiveness," advises Ms. Varghese "Solution providers capable of delivering solutions that exhibit these characteristics will be able to leverage their expertise."

Remaining focused on product development will, therefore, be key to meeting the rising demand for diagnostic tools of sleep disorders. At the same time, industry participants should shift their focus from traditional segments to increase screening. This strategy will indirectly boost demand for more extensive sleep diagnostic studies.

Sleep Diagnostic and Its Data Management Systems Market in Europe is part of the Patient Monitoring Subscription, which also includes research in the following markets: European Market for Telemedicine, European Market for Wireless Patient Monitoring and, European Neurological Monitors Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

Sleep Diagnostic and Its Data Management Systems Market in Europe
M00C - 56

Source: Frost & Sullivan (Business Wire India)

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