Report: European womens imaging market to grow despite challenges
The European women’s imaging market is growing despite reimbursement woes, high prices and fierce competition between vendors, according to a report from Frost & Sullivan. Despite these issues, the market will see growth due to needed system replacements and an aging population that will require more imaging studies. Still, according to the research firm, this growth hangs on innovation and a willingness by vendors to offer bundled products.
The report looks at the imaging market, which includes mammography and bone densitometry systems. It found that the European market for such systems had revenues of $455 million in 2006 and projects that it will reach $647.1 million by 2013.
“Rapid market growth is occurring because of the increasing population of the elderly across Europe, even as replacement-driven demand is projected to increase in the near future,” said Frost & Sullivan research analyst Divya B. “The entry of new and innovative technologies will also promote market expansion in the near term.”
The European mammography systems market is undergoing growth with climbing revenues largely due to the positive results of the DMIST (Digital Mammographic Imaging Screening Trial) and the overall digital transition across Europe. Also, bone densitometry systems market will see steady but slow growth, Frost & Sullivan said.
For all the expansion, the high costs of both types of systems paired with high screening costs will hinder growth. Certain countries will also see more growth restriction depending on reimbursement regulations, the firm said.
“As the bone densitometry market in Europe is mature, low and/or non-existent reimbursement will have a greater effect,” said Divya. “Also, due to the increased costs of adopting digital technology including the purchase of CAD, PACS systems in the mammography systems market might prove to be a constraint initially, but in the long term, will reflect the inevitable transition to digital.”
Frost & Sullivan believes vendors entering into local European markets should partner with smaller companies as well as offer plans to ease payment options.
For more on the European Women’s Healthcare Imaging Markets report visit: www.frost.com
The report looks at the imaging market, which includes mammography and bone densitometry systems. It found that the European market for such systems had revenues of $455 million in 2006 and projects that it will reach $647.1 million by 2013.
“Rapid market growth is occurring because of the increasing population of the elderly across Europe, even as replacement-driven demand is projected to increase in the near future,” said Frost & Sullivan research analyst Divya B. “The entry of new and innovative technologies will also promote market expansion in the near term.”
The European mammography systems market is undergoing growth with climbing revenues largely due to the positive results of the DMIST (Digital Mammographic Imaging Screening Trial) and the overall digital transition across Europe. Also, bone densitometry systems market will see steady but slow growth, Frost & Sullivan said.
For all the expansion, the high costs of both types of systems paired with high screening costs will hinder growth. Certain countries will also see more growth restriction depending on reimbursement regulations, the firm said.
“As the bone densitometry market in Europe is mature, low and/or non-existent reimbursement will have a greater effect,” said Divya. “Also, due to the increased costs of adopting digital technology including the purchase of CAD, PACS systems in the mammography systems market might prove to be a constraint initially, but in the long term, will reflect the inevitable transition to digital.”
Frost & Sullivan believes vendors entering into local European markets should partner with smaller companies as well as offer plans to ease payment options.
For more on the European Women’s Healthcare Imaging Markets report visit: www.frost.com