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Emerging Geographic Markets for Medical Imaging Modalities in Europe
Frost & Sullivan, May 2005
Medical Imaging Modalities Markets Face Uncertain Political Environment in Europe
The European medical imaging markets face a crucial roadblock in the form of political instability. All the regions considered in this study have emerged out of a communist regime and have been trying to establish a democratic government in the last 15 years to ensure stable and consistent purchasing and privatization policies. Changes in the government are likely to mean disruptions in policy enforcement. Moreover, governments should relinquish their hold over the market and let private participants with superior technical expertise and access to funds play a bigger role.
This Frost & Sullivan research service provides an overview of and an outlook for the medical imaging markets in Russia, Poland, the Czech Republic, Hungary and the Baltic States, detailing revenue forecasts by region and segment as well as providing market share analyses. It also looks into the major market sectors - magnetic resonance imaging (MRI), computed tomography (CT), ultrasound scanners and x-ray systems. This information is valuable to both large and small participants that seek to position themselves for maximum return on investment.
Markets Need Consistent Equipment Programs to Offer Better Reimbursements
Many eastern European countries still use outdated equipment for modalities lower down the imaging value chain such as x-rays. Healthcare authorities, especially in eastern Europe, have to increasingly overcome tough budgetary conditions along with concerns about low reimbursements, says the analyst of this research service. This hinders attempts to replace outdated x-ray systems, even those as old as 20 years.
Furthermore, most of these countries, though acceded to the European Union (EU), suffer from restricted funding as the funding process depends on the economic cycles. Vendors are thus to deal with healthcare participants with limited financial resources. The medical imaging modality markets in this region also face tough competition from other modalities such as CT, which offer higher reimbursements at lower costs.
Health Insurance and Higher Funding Support Efficiency Improvement
To improve process efficiency, the eastern European countries have reformed their healthcare systems based on the western European model of compulsory health insurance. The reforms are also gradually replacing the Soviet-style method of having an excess of hospitals and beds, enabling the eastern European health authorities to cut costs. This improved cost efficiency makes more funds available for capital investment, thereby driving the demand (for medical imaging modalities) in the short, medium and long term.
Participants should simultaneously focus on efficient pricing policies and quality. They have to develop special strategies for the private sector by offering better payment options, and eventually gain end-user loyalty. Further, vendors need to offer upgraded solutions to cost-conscious end users, partner with local participants to provide a wider product portfolio, operate through distributors under company managers’ supervision and develop crucial manufacturing capabilities to sustain revenue growth.
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