A new report from InMedica on the Eastern European market for patient monitor devices, estimated that the total market was worth €52.4 million in 2009. During the recent global recession, many hospitals purchased only products that were urgently required; as a result, revenues for all patient monitor device segments declined in 2009. For example, revenues for high-end patient monitors in Russia fell by more than 50%.
The impact of the recession has increased concern over healthcare expenditure; governments are focusing on improving cost-efficiency, by purchasing products with the best features at the lowest price. Purchasers are now opting for products from low-cost manufacturers that promise high-quality. This is increasing competition between suppliers and driving down the price.
“There are a number of “me-too” products appearing, most notably from manufacturers from the Asia-Pacific region.
Low-end manufacturers are capturing sales in cost-sensitive markets that would otherwise be unable to afford the premium brand products”, reported Kelly Barritt, market research analyst at InMedica. “This is further compounded by the penetration of products from Chinese manufacturers such as Mindray and Edan. Mindray’s increased competiveness is further highlighted through its acquisition of Datascope in 2008. In 2009, Mindray achieved 8.0% share of the patient monitor devices market in Eastern Europe. In order to remain competitive, high-end brands are starting to launch ‘value’ product ranges”, commented Miss Barritt.
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