European Ultrasound Markets Endorse New Technologies

Breakthroughs in obstetrics and gynecology ultrasound, hand-carried ultrasound technology, as well as other smaller market segments such as urology and surgical ultrasound are driving the European ultrasound market.

New analysis from Frost & Sullivan (Palo Alto, CA, USA), an international growth consultancy company, revealed that the market was worth US$0.9 billion in 2007 and estimated this to reach $1.4 billion in 2014.

"Increased demand from private practitioners as well as the growing number of breast and prostate ultrasound procedures will boost market growth,” noted Frost & Sullivan research analyst Krishanu Bhattacharjee. "With the use of hand-carried ultrasound units for the anesthesia and emergency wards, the European market for ultrasound is set to experience sustained growth.”

With revolutionary advances in technology, particularly in the form of miniaturization of transducer probes, electrograph, as well as three-dimensional (3D) and 4D imaging, the market is poised to grow at a steady rate in the coming years. Developments in volume-rendering technologies in ultrasound will boost market growth, according to Frost & Sullivan. The market will see considerable growth due to the widespread acceptance of hand-carried ultrasound by European hospitals as well as private diagnostic settings.

"Hand-carried and portable ultrasound, coupled with advancements in breast ultrasound, will promote market expansion,” commented Mr. Bhattacharjee. "At the same time, growing demand from private practitioners to promote volume sales together with volume-rendering technology for ultrasound will drive the uptake of new equipment.”

However, the market for radiology ultrasound will experience gradual decline in the coming years owing to high levels of saturation. Continuous price erosion as well as the rising demand for refurbished equipment among private clinicians will also hamper market growth. The market will, however, be driven by companies that can provide enhanced value-added offerings and cater to the untapped potential in surgical, urology and musculoskeletal ultrasound.

Sustaining competitive pricing with advancements in technology, competition from multi-slice computed tomography (CT), and low-cost manufacturers that will fuel price erosion will pose key challenges to market expansion. The lack of complete reimbursement for several ultrasound procedures, combined with the lack of standardization of 3D and 4D imaging, will also affect adoption rates.

"With the influx of low-cost manufacturers, price sensitivity will continue to be a cause of concern for vendors,” cautioned Mr. Bhattacharjee. "The lack of complete reimbursement for several clinical applications of ultrasound may also hamper the market's growth, providing an edge to other imaging modalities such as multi-slice CT.”

Global vendors need to develop improved value-added systems to counter the threat posed by low-cost manufacturers. They should also form lobbies or associations to promote the complete reimbursement for different ultrasound procedures. Furthermore, companies need to strategize to efficiently cater to the demand for mid-range ultrasound equipment from private clinics.


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