LONDON, July 13 --
The market for most medical imaging devices is at a mature phase. Most unit
shipment sales are geared towards the replacement of older systems. Global
conglomerates, which have a combined market share of about 80 per cent, dominate
the market. However, there are many small regional vendors that have carved out
a significant presence in the medical imaging industry in Europe. Innovation
will be critical for success in this market.
New analysis from Frost Sullivan (http://www.medicalimaging.frost.com),
Company Profiles - Medical Imaging Modality Vendors, finds that the European
medical imaging industry is the second largest in the world after the U.S. It is
estimated that the value of the total medical imaging industry in Europe is
nearly US$5.35 billion. This research profiles market participants in the
computed tomography (CT), magnetic resonance imaging (MRI) and radiography
If you are interested in a virtual brochure, which provides a brief synopsis of
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Investment in RD is directly proportionate with the number of new and
innovative products being launched and will be the key to a company’s
success in the medical imaging modality market, notes Frost Sullivan Research
Analyst Gideon Praveen Kumar. Companies should forge professional collaborations
with major hospitals and research institutions to impart training to medical
personnel who are likely to operate the equipment.
Niche and regional participants should try to establish collaborative alliances
with leaders in medical imaging modalities for mutual gain. Servicing of imaging
devices and after-sales support must be extremely strong. This will optimise
client satisfaction and enable companies to broaden their customer base.
Typically, medical imaging modalities have long replacement periods ranging
from seven to nine years, which makes it more difficult for vendors to market
new modalities, as this is principally a replacement market. Moreover, the lack
of reimbursement for cardiology imaging procedures is hampering uptake rates.
One of the key industry challenges faced by the medical imaging industry in
Europe currently is intensifying price pressures. With healthcare regulators
increasingly looking to curb costs, vendors are forced to reduce their prices.
Participants in the medical imaging market need to fully capitalise on
favourable macro-economic conditions, advises Kumar. These include the rising
requirement for imaging procedures due to an increasingly ageing population.
Company Profiles - Medical Imaging Modality Vendors is part of the Medical
Imaging Growth Partnership Service programme, which also includes research in
the following markets: Eastern European Ultrasound Market, European Medical
Imaging Equipment Market for Cardiology Applications and Eastern European
Medical Imaging Modalities. All research included in subscriptions provide
detailed market opportunities and industry trends that have been evaluated
following extensive interviews with market participants.
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please visit http://www.frost.com.
Company Profiles - Medical Imaging Modality Vendors M2B3 Contact: Katja Feick
Corporate Communications - Europe P: +49-(0)-69-7703343 E: firstname.lastname@example.org
SOURCE: Frost SOURCE: Sullivan
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