PRTODAY - Newswire & PRZOOM/ -
London, United Kingdom, 05/27/2010 - Radiation safety standards are becoming increasingly stringent. Ultrasound systems, however, present no such safety threats, and manufacturers are trying to enhance the versatility of these devices, both in primary and secondary diagnosis.
Elastography, therapeutic and contrast-enhanced ultrasound are poised to herald new and more effective means of diagnosis.
Many medical research universities are collecting data on individual organ physiology and function, which is paving way for therapeutic ultrasound. As they provide non-invasive treatment, many smaller companies have emerged that offer organ-specific, therapeutic ultrasound solutions.
New analysis from Frost & Sullivan (medicalimaging.frost.com), European Ultrasound Market - Lower Body Applications, finds that market revenues that stood at $371.0 million in 2008 will reach an estimated $438.0 million in 2015. The following market sectors are covered in this research: urology, obstetrics and gynaecology (ob/gyn) and surgical ultrasound.
"While the ultrasound market in Europe is saturated and is primarily a replacement one, nevertheless, the therapeutic and contrast enhanced ultrasound segments are projected to experience stable growth," notes Frost & Sullivan Research Analyst Shriram Shanmugham. "As clinical research becomes more intensive, research facilities and ultrasound companies are forming associations in order to accelerate ultrasound development."
A major benefit offered by ultrasound systems is that they do not emit any radiation. Moreover, while therapeutic procedures of these systems are non-invasive, patient recovery time is also quicker.
However, with the economic recession, many hospitals have had to contend with curtailed budgets. Hospitals have allocated budgets at the beginning of every fiscal year directed towards equipment purchase, services and staff hiring among others. Due to the recession, hospitals have been attempting to save money by either delaying their investments in medical equipment or buying used/refurbished systems. The money saved is typically spent on maintaining hospital productivity.
"The procurement of used and refurbished systems has become a priority for hospitals that do not have the money to invest in new medical equipment," explains Shanmugham. "Another situation that is hampering new purchases is the trend of hospitals postponing equipment acquisition to the next fiscal year."
Ultrasound manufacturers should highlight the importance of investing in new equipment. They should provide a detailed portfolio of the transitions expected with ultrasound technology and convince hospitals to look into the long-term benefits accrued from such investments.
"Enhancing customer interaction will key for manufacturers, particularly currently, at a time of recession," concludes Shanmugham. "Manufacturers can promote specialised programmes that focus on customer involvement, ensuring customer loyalty in the long-term."
Frost & Sullivan also published equivalent research on Upper Body Applications.
If you are interested in more information on the European Ultrasound Market – Upper/Lower Body Applications, please send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
European Ultrasound Market - Lower Body Applications is part of the Medical Imaging Growth Partnership Services programme, which also includes research in the following markets: Eastern European Ultrasound Market, Company Profiles – Medical Imaging Modality Vendors, European Medical Imaging Equipment Market for Cardiology Applications and Eastern European Medical Imaging Modalities. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.
European Ultrasound Market – Lower Body Applications / M489
European Ultrasound Market – Upper Body Applications / M461