The year is nearly over, and some of you might be wondering what is in store for our industry going forward.
According to a report by Frost & Sullivan, innovation is key to success. Increasing competition and growing cost concerns have compelled manufacturers of respiratory devices to offer more than just reliability and safety through their products to gain the most in terms of brand loyalty and market share.
The vendors who will be successful in 2008 and beyond will be the ones that can offer technical sophistication, while maintaining (even better, decreasing) the costs of their equipment. A challenging goal, indeed, and adding to the challenge are reimbursement issues, managed care, and the looming competitive bidding ruling. Can vendors offer innovation when they are forced to cut prices in order to stay in business?
Another challenge to respiratory device manufacturers is the increase in mergers and acquisitions, caused by the saturation of the market and the lack of product differentiation, according to Frost & Sullivan’s analyst. These mergers will impact the smaller companies especially: As larger companies account for the lion’s share of the market, smaller companies will have difficulties in making a significant impact on the market.
On the bright side, at least for the gas monitoring market, are new guidelines from the American Hospital Association and the American Society of Anesthesiologists that require anesthesia personnel to constantly monitor patient’s ventilation during anesthesia.
- READ Joe Flower’s look into the future of the industry in the July 2006 issue.
Some companies are also expanding the applications of their products to new patient groups. More and more companies, for instance, are tailoring their devices for use in neonates.
The companies presented in this Buyer’s Guide represent the best in the market. Despite the many challenges they face, not only have they stepped up with products that are reliable, safe, and affordable, but they also offer some of the most innovative, technically sophisticated products in the field. We are delighted to be able to showcase these companies and urge you to learn more about their fine products by visiting their Web sites or calling their toll-free numbers, both of which are provided on the following pages.