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European Ultrasound Markets Embrace New Technologies - Advancements in obstetrics and gynaecology ultrasound, hand-carried ultrasound as well as other smaller market segments such as urology and surgical ultrasound are driving the European ultrasound market
European Ultrasound Markets Embrace New Technologies

 

NewswireToday - /newswire/ - London, United Kingdom, 2008/04/29 - Advancements in obstetrics and gynaecology ultrasound, hand-carried ultrasound as well as other smaller market segments such as urology and surgical ultrasound are driving the European ultrasound market.

   
 
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New analysis from Frost & Sullivan (medicalimaging.frost.com), European Markets for Ultrasound, finds that the market was worth $0.9 billion in 2007 and estimates this to reach $1.4 billion in 2014.

"Increased demand from private practitioners as well as the growing number of breast and prostate ultrasound procedures will boost market growth," notes Frost & Sullivan Research Analyst Krishanu Bhattacharjee. "With the use of hand-carried ultrasound units for the anaesthesia and emergency wards, the European market for ultrasound is set to experience sustained growth."

With revolutionary advances in technology, particularly in the form of miniaturisation of transducer probes, elastography as well as 3D and 4D imaging, the market is poised to grow at a steady rate in the coming years.

Advances in volume-rendering technologies in ultrasound will spur market growth. The market will witness substantial growth due to the widespread acceptance of hand-carried ultrasound by European hospitals as well as private diagnostic settings.

"Hand-carried and portable ultrasound, coupled with advancements in breast ultrasound, will promote market expansion," comments Bhattacharjee. "At the same time, growing demand from private practitioners to promote volume sales together with volume-rendering technology for ultrasound will drive the uptake of new equipment."

However, the market for radiology ultrasound will experience gradual decline in the coming years owing to high levels of saturation. Continuous price erosion as well as the rising demand for refurbished equipment among private clinicians will also hamper market growth.

The market will, however, be driven by companies that can provide enhanced value-added offerings and cater to the untapped potential in surgical, urology and musculoskeletal ultrasound.

Sustaining competitive pricing alongside advancements in technology, competition from multi-slice CT and low-cost manufacturers that will fuel price erosion will pose major challenges to market expansion. The lack of complete reimbursement for several ultrasound procedures, coupled with the lack of standardisation of 3D and 4D imaging, will also affect adoption rates.

"With the influx of low-cost manufacturers, price sensitivity will continue to be a cause of concern for vendors," cautions Bhattacharjee. "The lack of complete reimbursement for several clinical applications of ultrasound may also hamper the market's growth, providing an edge to other imaging modalities such as multi-slice CT."

Global vendors need to develop improved value-added offerings to counter the threat posed by low-cost manufacturers. They should also form lobbies or associations to promote the complete reimbursement for different ultrasound procedures. Furthermore, companies need to strategise to efficiently cater to the demand for mid-range ultrasound equipment from private clinics.

If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European markets for ultrasound, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

European Markets for Ultrasound is part of the Medical Imaging Growth Partnership Service Programme, which also includes research into markets for Interventional Radiology, MRI, PACS, General x-rays and C-arms. All research 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.

Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

European Markets for Ultrasound M0D4

 
 
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European Ultrasound Markets Embrace New Technologies

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