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Western and Eastern European Ultrasound Market
Frost & Sullivan, June 2011, Pages: 182
This research service provides an analysis of various aspects of the ultrasound market in European countries for the period between 2007 and 2017. The market has been divided into five segments: radiology ultrasound, obstetrics and gynecology ultrasound, cardiology ultrasound, surgical ultrasound and other ultrasound. The market has been covered segment wise, as well as geography wise, covering twelve countries and regions. A detailed analysis of the competitive landscape has been presented. The research service highlights main drivers and restraints for the market growth as well as challenges market participants are likely to face from 2011 to 2017.
This Frost & Sullivan research service titled Western and Eastern European Ultrasound Market provides a thorough analysis of the industry challenges, as well as the market drivers and restraints. It also offers revenue forecasts and recommends strategies for successful market participation. In this study, Frost & Sullivan's expert analysts thoroughly examine the following markets: radiology, cardiology, surgical, obstetrics/ gynaecology and other ultrasound technology.
Market Overview
New Applications and Handheld Devices Expected to Propel Market Expansion
Traditional applications of ultrasound, such as radiology, obstetrics and gynaecology are entering the maturity phase. The future growth of the ultrasound market in Europe is expected to be driven by new applications, including surgical, anaesthetic and endoscopic ultrasound technology. Ultrasound is also increasingly popular in point-of-care (POC) settings. This trend will underpin the high and constantly expanding demand for hand-carried ultrasound units. “Wide availability, increasing applications, lack of ionising radiation, non-invasiveness as well as competitive pricing make ultrasound a primary diagnostic tool both in Western and Eastern Europe,” notes the analyst of this research. “Hand-carried ultrasound devices enable the use of ultrasound at POC settings, which further reinforces the popularity of this modality.”
In Eastern Europe, the popularity of the ultrasound is strongly associated with economic factors. This modality is also the diagnostic tool of choice in some of the more affluent, Western European countries. The lack of radiation and the low cost have boosted the popularity of ultrasound among end users. “In some countries, especially in Eastern Europe, where hospitals are struggling with budgets for medical equipment, the ultrasound is also the first tool of choice,” adds the analyst. “The main reason for this is that hospitals cannot afford more expensive equipment, such as computed tomography (CT) or magnetic resonance imaging (MRI) and therefore decide to purchase ultrasound devices.”
Multi-Pronged Approach Necessary to Overcome Price Competition and End Users’ Price Sensitivity
Intense price competition and high price-sensitiveness pose the greatest obstacles to the ultrasound market. End users of ultrasound equipment are highly price sensitive, especially in Eastern Europe. “In Western Europe, there is a demand for high-end ultrasound equipment from large hospitals, whereas, in Eastern Europe, hospitals and clinics are mostly interested in lower-priced devices,” explains the analyst. “With increasing competition from Chinese manufacturers and rapid migration of technologies, intense price competition is emerging as a significant challenge for ultrasound equipment manufacturers.”
Providing education and training, delivering superior post-sales services as well as offering flexible financing solutions are crucial to handling the price-sensitiveness of end users. Research shows, that the need for education persists, especially among practitioners in Eastern Europe. “Educational campaigns for end users should be aimed at acquainting them with the features and capabilities of ultrasound systems, especially the high-end, advanced ones,” remarks the analyst. “In this way, end users are more likely to fully benefit from these systems.” At the same time, as the traditional applications of ultrasound are maturing, it is crucial to promote the new applications of ultrasound to facilitate the growth of the total market. Although strong price erosion is observed in the ultrasound market in Europe, some high-end systems are still unaffordable for end users, especially in Eastern Europe. To ensure faster technology uptake, companies should focus on providing flexible financing solutions, such as favourable crediting or leasing.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following application segments in this research:
- Radiology
- Cardiology
- Surgical
- Obstetrics/ gynaecology
- Other ultrasound
By Geographic Region:
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Benelux
- France
- Germany
- Italy
- Scandinavia
- Spain
- The United Kingdom
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