The European DR market earned revenues of $68 million in 2009 and could reach an estimated $111.2 million in 2016, according to analysis from Frost & Sullivan. Experincing similiar increases, the European CR market earned revenues of $228 million in 2009 and could reach an estimated $237.4 million by 2016, the report
The report attributed growth to a recovering economy, the decline in the prices of electronic archive systems, including PACS and capital becoming available to potential buyers. The unit shipment volume is expected to gain momentum in 2011, with the most notable increases expected in the DR segment of the markets in Germany, France, Italy, Spain, the U.K., Benelux and Scandinavia.
“With the implementation of digital imaging being made mandatory in European hospitals in the near future, the transition to digital has significant market potential,” said Simone Carron, Frost & Sullivan research analyst.
While increases are expected in the DR and CR market segments, the report noted some barriers that are delaying these purchases within many smaller and private imaging centers, including capital freezes, financial shortcomings and lack of awareness among buyers about the available options to make the transition from analog to digital technology.
“Market participants should offer a broad range of technology options and customised financial plans catering to end-user specifications in order to maintain and enhance their current positions,” offered Carron. The report noted the importance for vendors to justify the high initial investments of CR and DR by emphasizing operational cost savings.
The authors also noted that the widespread increase in PACS implementations is contributing to the growth of the DR market. As a result, many vendors are offering packages of PACS and DR systems, making it additionally appealing to buyers who are looking to acquire an archiving system and transitioning to digital within the European market, the Frost & Sullivan report said.