European x-ray market to rise to nearly $355M by 2014
The European radiology market comprising analog radiography (AR) and DR systems will register steady growth, estimating a market increase worth $224 million in 2007 that will reach $352.6 million in 2014, according to a report from market research firm Frost & Sullivan.
The use of computed readers (CRs) and image digitization techniques are resulting in high-resolution x-ray images that yield better clinical information. While DR systems are perceived as the main driver of the total general x-rays market and are projected to make the bulk of contributions to overall revenues, the AR segment will also grow, albeit at a considerably lower rate, the report said.
“The present digitization trend in Europe is helping the market for DR systems to grow,” noted Darshana De, Frost & Sullivan analyst. “Superior image quality, low radiation exposure and enhanced workflow are some of the advantages of a DR system that are promoting uptake levels.”
The report said that the use of a CR reader in an analog system has helped the segment to grow, although at a significantly slower pace than earlier, and AR systems continue to face stiff competition from DR systems.
On the competitive front, intense competition among vendors is threatening profitability and leading to market concentration, according to the report. Market expansion is also impeded by the sizeable initial investments required to update current radiography modalities to electronic information management systems.
“New technology implementation entails learning new skills and processes for radiologists and physicians and there is inertia on this front,” De said.
The use of computed readers (CRs) and image digitization techniques are resulting in high-resolution x-ray images that yield better clinical information. While DR systems are perceived as the main driver of the total general x-rays market and are projected to make the bulk of contributions to overall revenues, the AR segment will also grow, albeit at a considerably lower rate, the report said.
“The present digitization trend in Europe is helping the market for DR systems to grow,” noted Darshana De, Frost & Sullivan analyst. “Superior image quality, low radiation exposure and enhanced workflow are some of the advantages of a DR system that are promoting uptake levels.”
The report said that the use of a CR reader in an analog system has helped the segment to grow, although at a significantly slower pace than earlier, and AR systems continue to face stiff competition from DR systems.
On the competitive front, intense competition among vendors is threatening profitability and leading to market concentration, according to the report. Market expansion is also impeded by the sizeable initial investments required to update current radiography modalities to electronic information management systems.
“New technology implementation entails learning new skills and processes for radiologists and physicians and there is inertia on this front,” De said.