Company Profiles and Consolidation in the European Medical Imaging Industry

Frost & Sullivan
July 20, 2006
90 Pages - SKU: MC1398016
License type:
Table of Contents Related Reports
Countries covered: Europe

Research Overview

This Frost & Sullivan research service entitled Company Profiles and Consolidation in the European Imaging Industry provides exhaustive profiles of 45 key participants in the European medical imaging industry as well as a detailed outlook on the consolidations that could take place in this industry. The study also examines major industry challenges and market drivers and restraints as well as the key geographic, product and regulatory trends that are influencing the industry.

Market Sectors

Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
  • Magnetic resonance imaging (MRI)
  • Computed tomography (CT)
  • Ultrasound
  • Mammography
  • Nuclear medicine
  • Picture archiving and communications systems (PACS)
  • Conventional and digital x-ray systems
  • Fluoroscopy
  • C-Arms
  • Contrast media
Technologies

The following technologies are covered in this research:
  • Magnetic Resonance Imaging (MRI): MRI is the imaging modality that is positioned at the top of the value chain. It is also the most recent modality introduced into the market and uses magnetic energy to visualise the human body.
  • Computed Tomography (CT): CT would probably occupy the second rung in the value chain of imaging modalities. However, in recent times CT seems to be increasingly capable of competing with MRIs for various imaging functions, particularly after the introduction of multi-slice scanning capabilities.
  • Ultrasound: As the name suggests, ultrasound utilises high frequency sound waves that echo off the internal structures to visualise the human body. Ultrasound is considered by many to be the safest of medical imaging modalities as it does not produce harmful x-rays or strong magnetic fields.
  • Mammography: Mammography is a specialised x-ray modality that is used to specifically visualise the breast, aiming to detect carcinogenic tumours.
  • Nuclear Medicine: Nuclear medicine is a relatively newer modality that is used to functionally visualise the human anatomy. Radio-isotopes are injected into the blood and a gamma camera or a PET scanner is used to track the isotopes as they reach the target organ.
  • Picture Archiving and Communications Systems (PACS): Though strictly not imaging modalities, given today's increasingly digitised radiology set-ups, PACS has become an integral part of the medical imaging industry. With much of current imaging modalities being digitised and requiring hundreds of images to compute the final output, PACS is at the forefront of digitisation initiatives across Europe.
  • Conventional and Digital X-Ray Systems: Although functionally the same, digital x-ray differs only in the image acquisition function wherein a flat panel detector is used to convert x-rays into visual images as compared to the conventional x-ray system where a photographic film is used.
  • Fluoroscopy: Fluoroscopy is a dynamic x-ray imaging system that uses image intensifiers or CCD cameras to capture the images that are generated. Fluoroscopy is used to image the flow of contrast media in the human body.
  • C-Arms: C-Arms are x-ray-based imaging systems that are used for real-time imaging in image-guided surgeries and certain diagnostic procedures such as angiographies. C-Arms consist of a C-shaped metal mount on which the x-ray generator is attached to one end of the arm and an image acquisition device is placed on the other end of the C-Arm. The patient is positioned between the two on a table and the procedure is performed.
  • Contrast Media: These are chemicals that are injected into the patient before imaging to enhance the visualisation of the anatomy using a specific imaging modality.
Market Overview

Digitisation a Key Driver of Mature European Medical Imaging Industry

 Dominated by a few large multi-modality vendors, the mature European medical imaging industry continues to witness modest but steady growth rates due to the ongoing replacement of ageing systems. One of the key drivers of this industry is the increasing move toward complete digitisation of the radiology practice within the hospital set-up. While many of the current imaging solutions are inherently digital, others such as X-rays, fluoroscopes and C-Arms are yet to be completely digitised. The need of the hour, therefore, is to digitise these modalities as soon as possible. This will present a strong opportunity for the industry to grow at a faster pace than at present.

"Complete digitisation of the workplace would ensure seamless workflow and better integration of the various imaging modalities present in the radiology set-up," says the analyst of this research service. "Digitisation of modalities such as X-rays and fluoroscopes also presents an opportunity for participants to form alliances and partnerships." In effect, participants having a strong presence only in conventional imaging systems could enter into alliances with manufacturers of digitisation technologies, thereby enabling them to effectively compete with the more established participants who have in-house capabilities to develop digitisation solutions too.

Shift towards Completely Digital Environment Sparks Consolidation Trend

Picture archiving and communications systems (PACS) are also anticipated to provide impetus to the European medical imaging industry and are gaining in importance as a key imaging modality across the world. Essentially IT solutions, PACS are more often developed by software companies but traditional medical imaging vendors are also venturing into this area and developing their own in-house PACS solutions. As the digitisation process gains greater acceptance, these solutions will gain in importance for their role in maintaining and transmitting the images acquired using various modalities. This is likely to strongly influence the rising consolidation trend in the medical imaging industry.

"Even among the top vendors, there is a lack of expertise in PACS and many of them look to third-party vendors to provide the required solutions," observes the analyst. "Many traditional imaging modality vendors are likely to associate themselves with independent PACS vendors to provide better integrated solutions." The emergence of partnerships and alliances can also help ensure standardisation of PACS solutions across Europe, which will enable them to be seamlessly integrated with existing imaging modalities.


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