Workflow Integration to Aid European Cardiology Imaging Market

Even as European cardiology imaging markets grow because of the increasing incidence of cardiovascular disorders, the development of novel, cost-effective systems and the introduction of new multi-modality products will support fast expansion of these markets, according to Frost & Sullivan (Palo Alto, CA, USA), an international growth consultancy company.

Frost & Sullivan found that the European cardiology imaging markets earned revenues of U.S.$843.0 million in 2005 and estimates this to reach $1,356.4 million in 2012. "European cardiology imaging markets are growing rapidly due to the alarming increase in the number of cardiovascular disorders, an expanding elderly population, and sedentary lifestyles,” noted Ranjit Ravindranathan, a research analyst from Frost & Sullivan. "The major innovation which will define the course of these markets will be that of comprehensive packages offering improved cross-departmental workflow integration and multi-modality interoperability in coordination with cardiology picture archiving and communication systems [PACS].”

As cardiology imaging markets are in the latter stage of the growth cycle, the development of innovative and effective products will be critical in maintaining growth. The increased number of cardiac problems will be key to advancing the attraction of multi-purpose, cost-efficient, and novel systems.

Research and development (R&D) efforts are ongoing for launching complete, multi-purpose systems in the market. However, varied country-specific reimbursement regulations have led to pricing pressures while also hindering manufacturing efforts. The high costs of imaging modalities have compounded these challenges, leading to affordability concerns.

"Vendors who can leverage end-user demands for complete combination packages and accordingly position themselves as a ‘one stop shop' for clients' cardiology imaging needs, will emerge market leaders,” remarked Mr. Ravindranathan. "Clients will benefit in terms of savings in money and time as well as improved procedural efficiency with quality output and description.”

From a competitive perspective, industry participants should aim to acquire or establish strategic alliances with smaller firms to ease entry into local markets, according to Frost & Sullivan. Projects to initiate financing and easy leasing options will encourage equipment purchase by end users. Market participants should also focus on rapidly achieving workflow integration in real-world situations instead of remaining stagnant at the R&D phase.



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