LONDON, Oct. 31, 2015 /PRNewswire/ -- Large patient volumes and a shrinking pool of skilled resources in the European healthcare industry are creating the need for efficient workflow solutions. Hence, hospitals will increasingly invest in digital radiography (DR) as the revival of the regional economy picks up pace. While the saturated computed radiography (CR) segment is declining in terms of both unit shipment and revenue, the technology will not go obsolete and will remain active in diagnostic centres and small hospitals.
New analysis from Frost & Sullivan, Analysis of the European Digital and Computed Radiography Markets, finds that the DR segment earned revenues of $131.0 million in 2014 and estimates this to reach $202.7 million in 2019. CR revenues will fall to $86.7 million in 2019 from $117.4 million in 2014.
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Healthcare providers in Europe are expected to tighten spending towards DR and CR for the next two years. As a result, replacement demand alone will sustain the market in the short term.
"Solution providers must place emphasis on cost-effective innovation in order to stay afloat," said Frost & Sullivan Healthcare Consultant Poornima Srinivasan. "With flat detector panels available at half the price they were five years ago, the technology required to build DR detectors, in particular, will become affordable."
DR offered as a packaged solution along with radiology information systems and picture archiving and communications systems will garner interest. As a result, manufacturers with a diverse product portfolio have a better chance of expanding their installed base in Europe.
"Moreover, fixed and mobile DR systems are gaining acceptance over retrofit additions, widening device applicability and market scope," observed Srinivasan. "Interoperable point-of-care DR technologies such as portable and wireless systems, especially, are making rapid headway into the region's healthcare sector."
Developing long-term relationships with distributors, hospitals and stand-alone imaging centres will help solution providers tap into this potential and broaden their footprint in the European DR and CR market.
Analysis of the European Digital and Computed Radiography Markets is part of the Advanced Med Tech Growth Partnership Service program. Frost & Sullivan's related studies include: Assessing Ultrasound's Market Potential within Emerging Clinical Points of Care, Western and Eastern European Multiparameter Patient Monitor Market, The North American Patient Handling Systems Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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