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However, imaging modalities vendors should focus primarily on providing cost-benefits to users by offering the best package of technology, quality and customer value. Vendors with such a combination will be able to successfully capture the market.
New analysis from Frost & Sullivan (healthcareIT.frost.com), European Market for Imaging in Life Sciences, finds that multi-million dollar opportunities are being created for a broad range of products. This market will demonstrate significant growth as the life sciences industry gears up to adopt imaging modalities for drug development.
“The adoption of imaging modalities is increasing, with sizeable market potential waiting to be leveraged over the next five to seven years,” notes Frost & Sullivan Research Analyst Santhosh Kumar Ramaraj. “There is tremendous scope and opportunity for imaging modalities vendors to provide a cost-effective imaging system.”
The European preclinical small animal imaging market is quite competitive and is in the process of consolidation. This situation is pushing the need for high-performance, low-cost imaging systems that meet the specific customer requirements. There has also been a steady annual upswing in government initiatives to promote and support animal imaging.
Currently, the price of imaging modalities is relatively high for academic research labs. This is having a negative impact on sales. Furthermore, longer sales cycles and funding constraints for academic research labs present major challenges to sustained market expansion.
“Prospective customers have to undergo a complex process of approval from grant bodies and approval committees to fund the purchase of small animal imaging systems,” cautions Ramaraj. “There is also a need for vendors to provide various funding options to customers and accelerate the sales process.”
It is important for vendors to provide clients with a range of funding alternatives. Apprising customers of the technology, providing proof of concepts and offering advice, support, training and after-sales service will create a win-win situation. This will help maximise growth potential, while benefiting both vendors and buyers.
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European market for imaging in life sciences, 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 Market for Imaging in Life Sciences is part of the Healthcare & Life Sciences IT Growth Partnership Services Programme, which also includes research in the following markets: E-Clinical Trials Market, Laboratory Information Systems Market, Primary Care Information Systems Market, and Document Management Systems Market. 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 Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ 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 Market for Imaging in Life Sciences
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