Updated on 9 May 2013
Frost & Sullivan: EU interventional radiology and cardiology market to reach $352 mn in 2016
Singapore: Frost & Sullivan's 'Market Trends in Europe Interventional Radiology and Cardiology', finds that the market earned approximately $336.7 million in 2012 and estimates this to reach $352.6 million in 2016.
The European market for interventional radiology and cardiology is heading towards maturity, especially in Western Europe. Although the economic slowdown and fewer orders had a negative impact on revenues in 2012, it is expected that expanding applications of interventional systems and the popularization of hybrid solutions will drive market growth over the 2013-2017 period.
One of the key trends in medicine is the steady replacement of open surgeries with minimally invasive procedures. Hybrid operating rooms support this trend.
"The expansion of minimally invasive procedures and hybrid operating rooms are set to galvanise the interventional radiology and cardiology markets," noted Frost & Sullivan's healthcare industry analyst, Ms Dominika Grzywinska. "Minimally invasive procedures are becoming increasingly popular, among both patients and healthcare providers. This has spurred the demand for hybrid operating rooms accommodating interventional systems."
"With approaching market saturation, especially in Western Europe, end users are increasingly interested in user-friendly, integrated solutions," concludes Ms Grzywinska. "Vendors need to offer customised solutions that meet the specific needs of end-users, rather than providing standard, ready-to-use ones."