As the radiologists are not very IT savvy, there arises a need to focus on awareness as a means to improve digital adoption, opening up significant growth opportunities for digital radiography (DR).
New analysis from Frost & Sullivan (medicalimaging.frost.com), Technology Trends and Business Opportunities in the Latin American X-Ray Market, finds that the market earned revenues of over $62.6 million in 2007 and estimates this to reach $97.5 million in 2012 due to the digital boom and increasing awareness.
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"The X-ray market is expected to witness substantial growth in the near future and with the enhancement of both professional and patient awareness, digital penetration is likely to increase," say Frost & Sullivan Research Analysts Luisa Woge and Belen Gallo. "Moreover, the introduction of computed-based radiography is expected to increase revenues in the short and medium terms."
DR is in the early development stage with considerable growth prospects. Imaging companies have been investing heavily on developing their local solutions to take advantage of the market potential.
"However, the majority of the installed base continues to be analog film-based equipment (AR) even though digital solutions accounts for a significant proportion of revenues," explains Woge. "Financial restraints imposed by expensive DR challenge hospitals’ capabilities to adopt such solutions in the short term."
In the competitive x-ray market, showing investment pay-back in combination with increased productivity is one of the best ways to distinguish the participants’ products.
"The market participants should prove the workflow superiority of digital solutions and advantages of adopting such equipments to succeed in the Latin American DR market," concludes Gallo.
Technology Trends and Business Opportunities in the Latin American X-Ray Market is part of the Medical Imaging Growth Partnership Services program, which also includes research in the following markets: Global Medical Imaging, APAC Medical Imaging, North American CT Imaging Market and Strategic Analysis of Optical Imaging Technologies in U.S. Clinical Diagnostics and Drug Discovery Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Technology Trends and Business Opportunities in the Latin American X-Ray Market / N4A6