Frost: Technological Advancements Drive Growth of Cardio X-ray Equipment Market
January 14, 2008 // Published as a news service by IHS
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Americans' lifestyle choices and the resulting increase in obesity rates and incidences of heart disease are major drivers for the cardiovascular X-ray imaging equipment market, according to Frost & Sullivan.
Combined with continuous technological advancements in existing systems, X-ray equipment is an attractive choice for clinicians to treat the rapidly increasing number of people with cardiovascular disease.
Recent analysis from Frost & Sullivan of the North American cardiac and vascular X-ray equipment markets found earned revenues of $765.4 million in 2006, with estimates to reach $894.4 million in 2013.
"New and innovative technological advancements make it possible to thoroughly examine patients of all sizes, improving both workflow and diagnostic confidence for clinicians," said Frost & Sullivan research analyst Samantha Barbosa.
"Strong procedural growth within the market will continue to drive the market, helping offset the competition posed by other imaging modalities."
However, growth in procedural volumes alone will not sustain market growth, analysts said, particularly with computed tomography (CT) being increasingly utilized as a diagnostic tool.
Although there have been some end-user concerns about the use of CT, these have apparently been addressed. The impact of CT on clinical outcomes is also being assessed. As a result, CT will continue to be a strong contender in the imaging space.
Alongside advancements in the X-ray market, there continues to be significant progress on the CT side, as well as discoveries in alternative, non-invasive therapies, analysts said. New procedures, combined with a strong understanding of clinical needs, hold the key to attaining healthy market growth.
Analysts said there is a distinct trend among end-users within this market to use less invasive techniques. Given the constant possibility of reimbursement cuts, it is important for clinicians to focus on intervention. In turn, vendors should continue being innovative and supply clinicians with interoperable systems similar to those in multipurpose labs.
"X-ray medical imaging is overcoming the battle against proposed cuts in imaging reimbursement, in addition to being a competitive choice in medical diagnostics," said Barbosa. "Advancements in 3-D imaging and enhancements to the multipurpose lab will also help the cardiovascular X-ray market stay abreast of the competition."
Source: Frost & Sullivan.