Posted on May 14, 2013 Updated on August 7, 2014
Radiographic Positioning and Techniques;
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Hybrid System Demand to Fuel European Cardiology and Interventional Radiology Markets
By Medimaging International staff writers
Posted on 20 May 2013
The European market for interventional radiology and cardiology is heading towards maturity, especially in Western Europe, according to new market research.
Although the economic slowdown and fewer orders had a negative impact on revenues in 2012, it is expected that expanding applications of interventional systems and the popularization of hybrid solutions will drive market growth over the 2013-2017 period.
New analysis from international market research firm Frost & Sullivan (Palo Alto, CA, USA), found that the market earned about USD 336.7 million in 2012 and estimates this to hit USD 352.6 million in 2016. The demand for hybrid systems, innovative tools, and the need for new systems in Eastern Europe will drive market growth.
One of the major trends in medicine is the steady replacement of open surgeries with minimally invasive procedures. Hybrid operating rooms support this trend. “The expansion of minimally invasive procedures and hybrid operating rooms are set to galvanize the interventional radiology and cardiology markets,” noted Frost & Sullivan’s healthcare industry analyst Dominika Grzywinska. “Minimally invasive procedures are becoming increasingly popular, among both patients and healthcare providers. This has spurred the demand for hybrid operating rooms accommodating interventional systems.”
Hybrid systems integrate operating room equipment with large diagnostic units and can be used by a range of medical specialties. A mid-term hurdle could potentially be the high cost of such hybrid systems. Nonetheless, an increasing number of healthcare facilities are investing in such models, as they offer a significant competitive advantage, and with appropriate throughput, a positive return on investment.
The economic downturn had a strong impact on revenues in 2012, especially in the more mature markets of Western Europe, such as Italy and Spain. Challenged by economic uncertainty, many facilities decided to put their investments on hold, contributing to lower revenue generation. “With approaching market saturation, especially in Western Europe, end users are increasingly interested in user-friendly, integrated solutions,” concluded Ms. Grzywinska. “Vendors need to offer customized solutions that meet the specific needs of end-users, rather than providing standard, ready-to-use ones.”
Frost & Sullivan works with clients to address the global challenges and related growth opportunities for today’s market participants.
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