Report: European autoinjector market shows growth
The European contrast autoinjector markets are expanding, according to a report from Frost & Sullivan of San Jose, Calif. Product innovation, including the development of multi-use, application-specific contrast injectors in a single system and the introduction of new products with software compatibilities will be critical for sustaining growth, the firm said.
The company said that the European autoinjectors markets earned revenues of $31.6 million in 2006 and estimates this to reach $60.1 million in 2013.
“The development of innovative contrast delivery methods for specific applications are yielding improved results and are supporting steady growth in the European autoinjectors markets,” said Ranjit Ravindranathan, Frost & Sullivan research analyst. “The consistent expansion in the number of modality installations is directly helping market growth due to the increasing number of procedures which require contrast media.”
The markets have the potential for more growth due to the saturation of segments such as angiography, CT and MRI segments, which have been exhibiting promising growth due to increased use of autoinjectors in cardiology departments, the company said.
A key market issue is that autoinjectors have a long life, which reduces the sales volume. Expanding equipment installations and the increasing number of procedures, however, will have a direct and positive impact on the usage levels of contrast injectors, according to Frost & Sullivan.
The major challenges these markets face include issues related to multiuse injectors, high entry barriers and concerns related to ensuring interoperability of systems with OEMs of all types. Another challenge is the need to design innovative products, specifically ones that are compatible with applications required by customers, the firm said.
Frost & Sullivan concluded that industry participants should acquire or establish strategic alliances with smaller firms to support their entry into local markets. Introducing innovative products with an emphasis on regular value additions will encourage end-user uptake; and efforts to train and educate radiologists in new technologies that use automated injectors will also be crucial to sustain market expansion, the company said.
The company said that the European autoinjectors markets earned revenues of $31.6 million in 2006 and estimates this to reach $60.1 million in 2013.
“The development of innovative contrast delivery methods for specific applications are yielding improved results and are supporting steady growth in the European autoinjectors markets,” said Ranjit Ravindranathan, Frost & Sullivan research analyst. “The consistent expansion in the number of modality installations is directly helping market growth due to the increasing number of procedures which require contrast media.”
The markets have the potential for more growth due to the saturation of segments such as angiography, CT and MRI segments, which have been exhibiting promising growth due to increased use of autoinjectors in cardiology departments, the company said.
A key market issue is that autoinjectors have a long life, which reduces the sales volume. Expanding equipment installations and the increasing number of procedures, however, will have a direct and positive impact on the usage levels of contrast injectors, according to Frost & Sullivan.
The major challenges these markets face include issues related to multiuse injectors, high entry barriers and concerns related to ensuring interoperability of systems with OEMs of all types. Another challenge is the need to design innovative products, specifically ones that are compatible with applications required by customers, the firm said.
Frost & Sullivan concluded that industry participants should acquire or establish strategic alliances with smaller firms to support their entry into local markets. Introducing innovative products with an emphasis on regular value additions will encourage end-user uptake; and efforts to train and educate radiologists in new technologies that use automated injectors will also be crucial to sustain market expansion, the company said.