New analysis from Frost & Sullivan (Palo Alto, CA, USA), an international market research firm, revealed that the European interventional radiology market (including vascular and neurological applications) earned revenues of US$232.2 million in 2010. The research firm estimates this to reach $296.2 million in 2014, while the European interventional cardiology market is set to expand from $284.3 million to an estimated $404.6 million over the same period. The following regions are covered in the research: United Kingdom, Germany, France, Italy, Spain, Scandinavia (Denmark, Sweden, Norway, and Finland) and Benelux (Belgium, The Netherlands, and Luxembourg).

“Key drivers for the interventional radiology market include an aging population and the rising demand for less expensive, outpatient-based procedures,” noted Frost & Sullivan industry analyst Dr. Gideon Praveen Kumar. “The need for new installations in several catheterization laboratories, coupled with the replacement of existing C-arms having image intensifiers with flat panel detectors [FPDs], will ensure revenue growth in the interventional cardiology markets.”

The growing demand for minimally invasive surgeries will be a major catalyst in the development of the interventional cardiology market. More patients are now willing to invest in diagnostic and therapeutic procedures, which are less painful and ensure fast recovery. As a result, most patients prefer catheterization procedures to surgeries that require longer recovery time.

The C-arms market in Europe is in the maturity stage and a large portion of revenues derive from the replacement of old systems. Most of the C-arms in Europe are analogue intensifying. The new range of C-arms feature flat panel technology, enabling better quality images with high resolution. Over the next two to four years, many hospitals in Europe are anticipated to start adopting this technology for better image acquisition.

However, the current state of the European healthcare system is acting as a deterrent to market growth. The European healthcare industry is facing a severe financial crisis, with the financial contribution being made only by a small fraction of the working population. “Most interventional radiology equipment is high-end and therefore expensive,” added Dr. Kumar. “Due to government policies aimed at curbing escalating healthcare expenditure, healthcare institutes are finding it difficult to purchase and install additional interventional radiology equipment to meet patient demands.”

To succeed, market participants should focus on developing cardiology picture archiving and communication systems (PACS) and cardiology information systems (CIS) based on open architecture. “Integrating hospital IT [technology information] solutions with interventional radiology represents one strategy to maintain market momentum,” advised Dr. Kumar. “Providing training to radiologists will further help sustain revenue growth.”

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