European Diagnostic Imaging System Market Will Grow Modestly To Almost $2.2 Billion In 2017 Uptake of Higher-End Systems Warding Off Market Maturity, According to Millennium Research Group
TORONTO, Feb. 14, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the increasing elderly population and rising prevalence of unhealthy lifestyles in Europe will drive demand for diagnostic imaging procedures. Although the effects of the European debt crisis will continue to somewhat limit the market by delaying capital equipment purchases in the next few years, economic conditions will gradually recover after 2013. As aging systems are finally replaced and more facilities purchase high-end imaging systems, system revenues will accelerate, with the magnetic resonance imaging (MRI) and computed tomography (CT) system markets growing the fastest through 2017.
Higher-end systems are being acquired in these segments, particularly in the CT system market, because they offer advanced features and more accurate images. In addition to higher-quality images, facilities will also seek to purchase premium systems with better dose management features—an important consideration given the medical imaging community's ongoing focus on reducing radiation doses.
Similarly, the market will show an ongoing shift in preference for higher-end direct radiography (DR) X-ray systems as facilities try to become more efficient.
"The shift to DR X-ray systems is somewhat of a double-edged sword," said MRG Analyst Felix Lam. "These premium systems are fueling revenues, but their efficiency in patient throughput also means that one DR system can replace multiple analog and computed radiography systems."
The European diagnostic imaging system market is led by multisegment vendors GE Healthcare, Siemens Healthcare and Philips Healthcare, which compete across multiple imaging modalities. The strength of these companies lies in their leading positions in the MRI and CT system markets, the critical segments for the near future.
Millennium Research Group's European Markets for Diagnostic Imaging Systems 2013 report includes unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for ultrasound, MRI, X-ray, CT and nuclear medicine systems sold in France, Germany, Italy, Spain, and the United Kingdom.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group