The increasing potential of cardiac imaging applications combined with scope for innovation in the clinical application potential for computer tomography (CT) and constant improvement in speed of scans is primarily driving the European CT systems market. Moreover, as different countries in the European Union are in different stages of the replacement cycle, constant replacement sales is likely to ensure growth in revenues.
New analysis from Frost & Sullivan (medicalimaging.frost.com), European CT Markets, finds that the market earned revenues of $861.7 million in 2006 and is set to grow at a compound annual growth rate (CAGR) of 4.0 per cent from 2006 to 2013, to reach $1.14 billion in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European CT Markets, send an email to Radhika Menon Theodore, Corporate Communications, at rmtheodore[.]frost.com with your full name, company name, title, telephone number, email address, city, state and country. We will send you the information through email upon receipt of the above information.
"At present, computed tomography angiography (CTA) and virtual colonoscopy are the most promising applications," notes Frost & Sullivan Research Analyst Divya B. "However, With the introduction of higher slice scanners, the market is set to move towards ‘single heartbeat’ cardiac imaging."
As a 16 slice scanner is adequate for most conventional radiology applications, most customers are adopting the ‘wait and watch’ approach, purchasing a standard 16 slice system but postponing the purchase of the additional high-end scanner. The lack of differentiation between reimbursement for low-end and high-end CT equipment is also another reason.
Apart from reimbursement issues, the European CT systems market is faced with other challenges such as pricing pressures and competition from MRI.
Moreover, while higher slice CT scanners enable faster scans, they also result in greater radiation dose with every higher slice count scanner. Additionally, there is also the inherent challenge arising due to competition from MRI.
"Industry participants should concentrate on introduction of new software to stem price erosion and as an additional source of revenue, as they can be sold to the existing installed base of CT scanners," comments Divya. "Means to address the radiation dose concern should also be given immediate utmost importance."
Nonetheless, the European CT systems market is still growing with a lot of scope for innovation in software and clinical applications.
European CT Markets is part of the Medical Imaging Growth Partnership Service programme, which also includes the following research services: European MRI systems markets, European contrast media market and European women’s healthcare imaging market. All research services 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.
About Frost & Sullivan
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.