The European market for interventional radiology and cardiology is heading toward maturity, but expanding applications and hybrid operating rooms are expected to power market growth from 2013 to 2017, according to a new report from market research firm Frost & Sullivan.
The company said the market generated approximately $336.7 million U.S. (256 million euros) in revenues in 2012 and is expected to reach $352.6 million U.S. (268 million euros) in 2016. While the economic slowdown and fewer orders had a negative impact on revenues in 2012, market growth will be fueled by novel applications, the demand for hybrid packages, and the need for new systems in Eastern Europe, Frost & Sullivan said.
The company noted hybrid operating rooms support one of the key trends in medicine for the steady replacement of open surgeries with minimally invasive procedures. While this dynamic is expected to galvanize the interventional radiology and cardiology markets, the high cost of hybrid systems that combine operating room equipment with large diagnostic units could be a mid-term obstacle, according to the firm.
Nevertheless, an increasing number of healthcare facilities are investing in such models, as they offer a significant competitive advantage and a positive return on investment with appropriate throughput, Frost & Sullivan said.
The economic slump had a strong impact on 2012 market revenues, particularly in the more mature sectors of Western Europe such as Italy and Spain, and many facilities put their investments on hold due to the uncertainty, the company said.
