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High Equipment Costs in Interventional Radiology and Cardiology Pose Major Deterrent to Uptake Says Frost & Sullivan - Increasing Minimally Invasive Surgeries and Advances in Imaging Technologies to Drive European Interventional Radiology and Cardiology Markets - MedicalImaging.Frost.com
High Equipment Costs in Interventional Radiology and Cardiology Pose Major Deterrent to Uptake Says Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2011/07/27 - Increasing Minimally Invasive Surgeries and Advances in Imaging Technologies to Drive European Interventional Radiology and Cardiology Markets - MedicalImaging.Frost.com.

   
 
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The increasing popularity of minimally invasive surgeries paralleled by advances in imaging technologies are encouraging prospects for drive the European markets for interventional radiology and cardiology.

New analysis from Frost & Sullivan (medicalimaging.frost.com), European Markets for Interventional Radiology and Cardiology, finds that the European interventional radiology market (including vascular and neurological applications) earned revenues of $232.2 million in 2010 and estimates this to reach in $296.2 million in 2014, while the European interventional cardiology market is set to expand from $284.3 million to an estimated $404.6 million over the same period. The following regions are covered in the research: United Kingdom, Germany, France, Italy, Spain, Scandinavia (Denmark, Sweden, Norway and Finland) and Benelux (Belgium, the Netherlands and Luxembourg).

"Key drivers for the interventional radiology market include an ageing population and the rising demand for less expensive, outpatient-based procedures," notes Frost & Sullivan Industry Analyst Dr. Gideon Praveen Kumar. "The need for new installations in several catheterisation laboratories, coupled with the replacement of existing C-arms having image intensifiers with flat panel detectors (FPDs), will ensure revenue growth in the interventional cardiology markets."

The growing demand for minimally invasive surgeries will be a major catalyst in the development of the interventional cardiology market. More patients are now willing to invest in diagnostic and therapeutic procedures, which are less painful and ensure quick recovery. As a result, most patients prefer catheterisation procedures to surgeries that require longer recovery time.

The C-arms market in Europe is in the maturity stage and a large portion of revenues derive from the replacement of old systems. Most of the C-arms in Europe are analogue intensifying. The new range of C-arms feature flat panel technology, enabling better quality images with high resolution. Over the next 2-4 years, many hospitals in Europe are anticipated to start adopting this technology for better image acquisition.

However, the current state of the European healthcare system is acting as a deterrent to market growth. The European healthcare industry is facing a severe financial crisis, with the financial contribution being made only by a small fraction of the working population.

"Most interventional radiology equipment is high-end and therefore expensive," adds Dr. Kumar. "Due to government policies aimed at curbing escalating healthcare expenditure, healthcare institutes are finding it difficult to purchase and install additional interventional radiology equipment to meet patient demands."

To succeed, market participants should focus on developing cardiology picture archiving and communication systems (PACS) and cardiology information systems (CIS) based on open architecture.

"Integrating hospital IT solutions with interventional radiology represents one strategy to maintain market momentum," advises Dr. Kumar. "Providing training to radiologists will further help sustain revenue growth."

If you are interested in more information on this study, please send an email with your contact details to Janique Morvan, Corporate Communications, at janique.morvan[.]frost.com.

European Markets for Interventional Radiology and Cardiology is part of the Medical Imaging Growth Partnership Services programme, which also includes research in the following markets: Future Outlook for Common IT Platforms – Radiology and Cardiology, RIS/PACS Market, Cardiology Information Systems Market and European Cardiology PACS Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

European Markets for Interventional Radiology and Cardiology / M60B

 
 
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High Equipment Costs in Interventional Radiology and Cardiology Pose Major Deterrent to Uptake Says Frost & Sullivan

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