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London, United Kingdom, 2010/05/27 - New analysis from Frost & Sullivan, European Ultrasound Market - Upper Body Applications, finds that the market earned revenues of $371.0 million in 2008, and estimates this to reach $438.0 million in 2015.
Radiation standards are becoming increasingly stringent in European hospitals. Ultrasound, however, has an edge over radioactive applications with regard to patient safety. Ultrasound is non-radioactive, and manufacturers are trying to improve its versatility in both primary and secondary diagnosis. Additionally, several medical research universities are collecting data on individual organ physiology and function, paving way for therapeutic ultrasound. Smaller companies are also foraying into organ-specific therapeutic ultrasound solutions due to their non-invasive treatment.
New analysis from Frost & Sullivan (medicalimaging.frost.com), European Ultrasound Market - Upper Body Applications, finds that the market earned revenues of $371.0 million in 2008, and estimates this to reach $438.0 million in 2015. The technologies covered in this research service are 3-dimensional (3D) and 4-dimensional (4D) imaging, contrast media and elastography.
"Although the ultrasound market in Europe is saturated and is a replacement market, stable growth is projected in the therapeutic and contrast enhanced ultrasound segment," says Frost & Sullivan Research Analyst Shriram Shanmugham. "While clinical research is becoming more intensive, the research facilities and ultrasound companies are forming associations to accelerate its development."
Therapeutic ultrasound procedures are not only non-radioactive but also non-invasive, and have a quicker patient recovery time.
However, the economic downturn has compelled many hospitals to cut costs by either delaying their investments in the purchase of medical equipment or opting for used and refurbished systems. Any savings are used to effectively maintain hospital productivity.
"Purchasing used and refurbished systems are a priority for hospitals that have budgetary constraints for new medical equipments," explains Shanmugham. "Additionally, some hospitals are postponing their equipment purchase to the next fiscal year, further impeding the purchase of new equipment."
Ultrasound manufacturers should emphasise the significance of purchasing latest equipment. They should provide a detailed portfolio of the transitions expected with ultrasound technology and convince hospitals to consider long-term investments.
"Enhancing customer interaction will be the key for manufacturers, especially now, when the economy is in a slump," concludes Shanmugham. "Manufacturers should promote specialised programs that accentuate customer involvement, ensuring customer loyalty in the long-term."
European Ultrasound Market - Upper Body Applications is part of the Medical Imaging Growth Partnership Services programme, which also includes research in economic impact, therapeutic and contrast enhanced ultrasound. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
If you are interested more information on the Frost & Sullivan study European Ultrasound Market - Upper Body Applications, please send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
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European Ultrasound Market - Upper Body Applications / M461