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European Markets for Ultrasound
Frost & Sullivan, March 2008, Pages: 193
This Frost & Sullivan research service titled European Markets for Ultrasound provides an overview of market dynamics and revenues in the market, along with a complete analysis of key market drivers, restraints, trends and reimbursement issues faced in Germany, France, Italy, the United Kingdom, Spain, Scandinavia and Benelux. The research service also provides an insight into the ultrasound procedure numbers carried out in European hospitals by clinical applications. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: hospitals, nursing homes, general practitioners and private health clinics.
Market Overview
Pockets of Strong Growth Emerge
There is much more to the European markets for ultrasound than its overall mature nature. While the market for radiology ultrasound equipment has reached saturation, the market for surgical and urology ultrasound remains highly attractive for vendors. Revolutionary technological advances in the fields of elastography and volume-rendering technologies will boost the sale of obstetric and gynaecology (Ob/Gyn) ultrasound. Ultrasound as an imaging modality is also being promoted by the growing number of cardiac and circulatory diseases as well as an ageing population. 'Increased demand from private practitioners as well as the growing number of breast and prostate ultrasound procedures will boost market growth,' notes the analyst of this research. 'With the application of hand-carried ultrasound being extended to anaesthesia and emergency wards, the European market for ultrasound is set to experience sustained growth.' Revolutionary advances in technology, particularly in the form of miniaturisation of transducer probes, elastography as well as 3D and 4D imaging will support steady market expansion.
However, in various European nations, the market share for ultrasound is being gradually cannibalised by multi-slice CT. Besides, the lack of complete reimbursement for several clinical applications of ultrasound may also hamper the market’s growth, providing an edge to other imaging modalities such as multi-slice CT. With intense competition in the market, vendors need to strategise and cater to the needs of the growing private sector in the European healthcare arena.
Low-cost Manufacturers Pose a Challenge
With enormous growth potential, particularly in musculoskeletal ultrasound, urology ultrasound as well as hand-carried ultrasound, several new vendors have entered the European markets. Advances in volume-rendering technologies in ultrasound will spur market growth. Despite the advances in 3D and 4D imaging, the lack of standard terminologies for these applications has hampered their adoption rate. Simultaneously, the market is observing the merger of various clinical segments, especially in the form of hand-carried ultrasound units, which are being used in the anaesthesiology and emergency departments in addition to the radiology and urology wards of European hospitals. 'Hand-carried and portable ultrasound, coupled with advancements in breast ultrasound, will promote market expansion,' comments the analyst. 'At the same time, the growing demand from private practitioners to promote volume sales together with volume-rendering technology for ultrasound will drive the uptake of new equipment.' The market is also being benefited by the increasing number of breast ultrasound, prostate ultrasound and prostate biopsy procedures.
However, with the influx of low-cost manufacturers, price sensitivity will continue to be a cause of concern for vendors. Global vendors need to develop improved value-added offerings to counter the threat posed by low-cost manufacturers. They should also form lobbies or associations to promote the complete reimbursement for different ultrasound procedures. Furthermore, companies need to efficiently cater to the demand for mid-range ultrasound equipment from private clinics.
Technologies
The following technologies are covered in this research:
-Silicon transducers
-PACS
-Elastography
-3D and 4D imaging
-Contrast enhanced ultrasound
-Cardiology PACS
-CIS
-Transcranial Doppler
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
-Radiology ultrasound
-Ob/gyn ultrasound
Cardiology ultrasound
-Surgical ultrasound
-Other ultrasound
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