Report: European interventional radiology market grows
Interventional radiology markets in Europe are registering steady growth, according to a report from Frost & Sullivan, a San Jose, Calif.-based market research firm.
The company said that the European interventional radiology market earned revenues of $399.5 million in 2006 and estimates this to reach $683.3 million in 2013.
Frost & Sullivan research analyst, Darshana De, said that advances “in the field of medical instrumentation and in radiological imaging technology have led to the rapid development of interventional procedures.” De added, “the market in Europe is growing steadily due to the large number of cost-effective interventional procedures being performed in lieu of surgery.”
Cardiac interventional radiology is the fastest growing segment in the market, the firm said. More than 40 percent of Europe’s population suffers from cardiac diseases, with these patients preferring minimally invasive imaging procedures for diagnosis and therapy, the company said.
Vascular interventional radiology, dedicated mainly to the detection and treatment of peripheral arterial disease, is the second largest segment in the market. Growth in this segment is likely to be partially stunted due to competition from other non-invasive imaging techniques, according to Frost & Sullivan.
The lack of European neuro centers, high prices of equipment and installation constraints has restricted neuroradiology to the smallest sector of the market, the firm said.
Frost & Sullivan anticipates that the major challenges for market participants will be to provide products that can be integrated with PACS, EMRs, and hospital IT systems, as well as a lack of well-trained radiologists.
The company said that the European interventional radiology market earned revenues of $399.5 million in 2006 and estimates this to reach $683.3 million in 2013.
Frost & Sullivan research analyst, Darshana De, said that advances “in the field of medical instrumentation and in radiological imaging technology have led to the rapid development of interventional procedures.” De added, “the market in Europe is growing steadily due to the large number of cost-effective interventional procedures being performed in lieu of surgery.”
Cardiac interventional radiology is the fastest growing segment in the market, the firm said. More than 40 percent of Europe’s population suffers from cardiac diseases, with these patients preferring minimally invasive imaging procedures for diagnosis and therapy, the company said.
Vascular interventional radiology, dedicated mainly to the detection and treatment of peripheral arterial disease, is the second largest segment in the market. Growth in this segment is likely to be partially stunted due to competition from other non-invasive imaging techniques, according to Frost & Sullivan.
The lack of European neuro centers, high prices of equipment and installation constraints has restricted neuroradiology to the smallest sector of the market, the firm said.
Frost & Sullivan anticipates that the major challenges for market participants will be to provide products that can be integrated with PACS, EMRs, and hospital IT systems, as well as a lack of well-trained radiologists.