Press release from Business Wire India
Source: Frost & Sullivan
Wednesday, May 30, 2012 02:52 PM IST (09:22 AM GMT)
Editors: General: Economy, Environment; Business: Business services, Media & entertainment
Frost & Sullivan: With a CAGR of 12.6 Percent from 2010 to 2017, The Indian ECG Market maintains its Momentum even in a Constrained Economic Climate
The High-end 6 and 12 Channel to Grow the Fastest with a Projected Growth Rate of 21.6 Percent from 2009 to 2017
Mumbai, Maharashtra, India, Wednesday, May 30, 2012 — (Business Wire India) — The Indian ECG equipment market has emerged as one of the most profitable in the patient monitoring sector, marking a compound annual growth rate (CAGR) of 12.6 percent from 2010 to 2017. The market showed no signs of slowing down even during the global economic downturn, with the stress ECG/TMT market generating $9.1 million in 2010, at a growth rate of 11.1 percent. However, it is the 6/12-channel ECG equipment market, with a remarkable CAGR of 21.6 percent, that is expected to power the market ahead.
Recent analysis from Frost & Sullivan (http://www.patientmonitoring.frost.com), Overview of the Electrocardiograph (ECG) Equipment Market in India, finds that the market earned revenues of $26.5 million in 2010 and estimates this to reach $60.7 million in 2017.
The market is benefitting from the rising incidence and awareness of cardiovascular diseases, escalating public expenditure on healthcare services, increasing demand for high-end equity systems, and rapid technological advancements.
“End users have shown a marked preference for equipment with more accurate measurements,” says Frost & Sullivan Research Analyst. “This has created a wider market for high-equity ECG systems (6 and 12 channel ECGs) market, but shrunk the channel ECG market.”
Despite the overall vast market potential, participants will face some road blocks while trying to penetrate the rural markets. The inadequate access to healthcare facilities and competition from the low-cost domestic market will peg back participants that are looking to establish a toehold in the Indian market.
The competition between domestic and major market participants has even led to price wars in the single-channel and 3-channel ECG market segments, which have, in turn, eroded the profit margins of prominent market participants.
“ECG diagnosis has not gained momentum among Tier-III and rural healthcare facilities due to poor hospital infrastructure, insufficient transport facilities, understaffed hospitals, and a lack of awareness about cardiovascular diseases,” notes the Analyst. “Providing better access to healthcare facilities and educating the rural population on the importance of monitoring cardiovascular diseases will improve the ECG diagnosis rates and thereby, help to tap the rural and tier 3 cities market.”
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Caroline Lewis/ Akshata Mhatre, Corporate Communications, at firstname.lastname@example.org / email@example.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.. Upon receipt of the above information, a brochure will be sent to you by e-mail.
Overview of the Electrocardiograph (ECG) Equipment Market in India is part of the Patient Monitoring Growth Partnership Services program, which also includes research in the following markets: Analysis of U.S. Multiparameter Patient Monitoring Equipment Market, European Cardiac Patient Monitoring Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.
Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
— The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including research, analysis, strategy, vision, innovation, and implementation.
— The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360-degree research, comprehensive industry coverage, career best practices, as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000 emerging businesses, the public sector, and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics, and emerging economies?
Contact Us: Start the discussion
Join Us: Join our community
Subscribe Newsletter on “the next big thing”
Register: Gain access to visionary innovation
Overview of the Electrocardiograph (ECG) Equipment Market in India
Caroline Lewis, Corporate Communications – South Asia, Frost & Sullivan, +91 9821737935, firstname.lastname@example.org
Akshata Mhatre, Corporate Communications – South Asia, Frost & Sullivan, +91 (22) 66072020, email@example.com
Nimisha Iyer, Corporate Communications – South Asia, Middle East and North Africa, Frost & Sullivan, +91 98200 50519, firstname.lastname@example.org
ECONOMY, ENVIRONMENT, BUSINESS SERVICES, MEDIA
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com