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Three global trends changing the landscape of the medical imaging equipment marketSeptember 20, 2017Growth for x-ray, ultrasound, MRI, and CT equipment will be driven by a variety of unique factors, but several trends will affect future revenues for the entire medical imaging equipment market. Three of these trends—the aging global population, the changing US healthcare culture, and the emergence of healthcare markets in developing nations—are highlighted below and followed by IHS Markit’s advice for capitalizing on these trends.
Interventional X-ray equipment – Dose aware or financial affair?September 18, 2017In the current global healthcare environment, providers are increasingly obliged to balance tight financial budgets whilst ensuring that patient care is not jeopardised. There are large regional and country-specific differences in what determines the decision-making process when purchasing interventional X-ray equipment. A combination of healthcare budget restrictions, political instability and economic crises has heightened consideration of the price of interventional X-ray systems. Regulatory pressures and guidelines on dose requirements fuel the demand for interventional X-ray equipment with higher image quality and lower dose features, in addition to dose monitoring features.
Interventional X-ray Equipment : Are advances in technology driving demand for interventional procedures or are interventional procedures driving demand for technology advances?August 14, 2017The relationship between interventional X-ray procedures and interventional X-ray equipment is interchangeable in terms of where the influences lie. Demand for interventional X-ray systems is largely influenced by procedural developments and the reimbursement available for them. However, some complex interventional procedures would not be able to be performed without advances being made in interventional X-ray technology.
UKRC – Dose all aroundJune 15, 2017The UK Radiological Congress (UKRC) and Radiation Oncology Congress (UKRO) convened in Manchester from Monday 12th to Wednesday 14th June 2017, featuring a busy exhibition hall and an extensive scientific educational programme. Tuesday 13th June was dedicated to ‘Dose Awareness Day’ and aptly radiation dose management was a fundamental topic of conversation throughout the congress.
ECR 2017: Radiology in bloomMarch 09, 2017The bejewelled skulls and vivid floral displays created a dramatic entrance to the 2017 European Congress of Radiology (ECR), located in the Austria Centre Vienna. Such a centre-piece certainly depicted the theme of the congress this year; ‘the flower gardens of radiology’, focusing on the importance of youth and dedication to young radiologists. The vast scientific programme, educational sessions and busy exhibition floors formed a perfect platform for a new generation of radiologists to flourish.
Are services the key to sustained profits?February 06, 2017The decline in average selling prices of X-ray equipment is nothing new. As a technology matures, and products using it are manufactured in larger quantities, they cost less to produce. In addition, more suppliers entering the market push prices down; also, intense cost pressure from healthcare purchasers have contributed to lower average selling prices.
Varex takes an early dose of acquisitionJanuary 05, 2017The spin-off into Varex Imaging Corporation is still to complete, yet Varian Medical Systems (NYSE: VAR) has agreed to acquire the medical imaging business of Perkin Elmer Inc. (NYSE: PKI), incorporating it into the publicly traded spin-off. The deal, with a value of $276 million, was announced on December 22nd 2016 and is expected to close after the planned separation of Varex from Varian at the end of January.
New mobile and FPD market entrants – Highlights from RSNA 2016December 05, 2016The opening of the doors to RSNA once again marks the nearing of the end of another busy year in the healthcare technology industry. 2016 has been a year of mergers and acquisitions, changing business names, changes in reimbursement, and political mayhem.
Interventional X-ray: Minimal procedures, maximum impactNovember 01, 2016Interventional X-ray systems are used for a variety of different procedures, including interventional cardiology, interventional radiology, electrophysiology, and neurology. Machines can be dedicated to certain procedures, or used for both cardiology and radiology interventions.
The Mammography Market is growing…but for how long?October 27, 2016The Mammography X-ray equipment market is growing at a rate of 5.6% globally in terms of unit shipments, but how long will that growth sustain, and what is driving it? There are many drivers of growth behind the mammography market, but the rate of change of technology is one of the main drivers.
Will flat-panel detectors ever C-out image intensifiers?August 22, 2016Flat-panel detector (FPD) technology has long been seen as the gold standard for X-ray imaging, offering benefits such as improved image quality, lower dose, and more efficient workflows. Substantial adoption of FPD systems has been seen across the different X-ray modalities in recent years; with the exception of mobile C-arms.
Will artificial intelligence become the brainpower behind medical imaging?July 25, 2016Software solutions have long been an important consideration for purchasers of medical imaging equipment. The initial focus has typically been on software supporting storage and communication of digital images through ‘digital imaging and communications in medicine’ (DICOM) capabilities and ‘picture archiving and communication systems’ (PACS). Widespread adoption of electronic medical records (EMRs) has helped to drive recent developments in software, which have expanded interest in artificial intelligence, image reconstruction algorithms, and computer-aided detection and diagnosis. Ultimately, these systems have the same aim: to recognise clinical problems and abnormalities in digital images to assist diagnosis and improve results.
Analogue X-ray payments to be cut from 2017, further driving digitalisationJune 17, 2016In late 2015, the Medical Imaging Modernization Act of 2015 was announced to provide payment incentives to encourage image providers to transition from traditional X-ray imaging to digital radiography. As part of this legislation, reimbursement payments will be cut from 2017 for images produced with analogue film X-ray equipment by 20%. The cut in reimbursement for computed radiography (CR) equipment will be more gradual; from 2018 to 2022 there will be a 7% reduction in payments for images produced with CR equipment, increasing to a 10% reduction from 2023 onward.
High growth potential in Iranian medical imaging marketApril 25, 2016Economic and political uncertainties in a number of the traditional high-growth markets have led to medical device manufacturers seeking new market growth opportunities. Weaker currencies have hit sales of medical imaging equipment, both X-ray and ultrasound systems, in Latin America. The Brazilian market has been most affected, with growth in this market slowing noticeably. Previously, strong growth in sales of medical imaging equipment in Russia had been expected; however, the currently weak economy and political factors have halted growth in this market, for non-domestic manufacturers in particular. The Chinese market for medical imaging equipment has be one of the world’s fastest growing in recent years, because of high levels of healthcare investment. The slow-down in economic growth and the Chinese government’s continued support of local medical device manufacturers have resulted in some uncertainty in short-term growth for multi-national suppliers of medical imaging systems; however, in the longer term, faster market growth is expected to return.
Stalling innovation, efficiency, interoperability – key themes from RSNA 2015December 10, 2015Efficiency, patient through-put and cost of ownership – all key and interconnected themes at this year’s RSNA show. These three themes have also contributed to little focus on innovation in cutting-edge advanced features; instead upgrades and new software is based on providing cost-effective solutions that allow care-givers to optimise the equipment they have available, whilst maintaining patient satisfaction.
North America Surges Ahead with 3D Tomosynthesis Mammography AdoptionNovember 27, 20152D digital flat panel detector (FPD) mammography was the leading technology in both Western Europe and North America in 2014; however 3D FPD tomosynthesis systems are forecast to surpass 2D FPD mammography as the largest technology segment in North America by 2019. In Western Europe the transition is forecast to take longer, due to purchasers opting for upgradeable 2D FPD systems over standalone 3D digital systems.
New medical device catalog to drive growth for domestic suppliers in ChinaSeptember 28, 2015In May 2014, the National Healthcare and Family Planning Commission (NHFPC) launched the ‘Excellent Domestic Medical Device Selection’ program. This is the first government approved open selection of domestic medical devices in China in order to form the ‘Excellent Domestic Medical Device’ catalog. In such a large potential medical electronics industry, fighting for more market share for local brands will always be a core focus of the Chinese government creating an increasingly challenging environment for multinational suppliers.
Cone-Beam CT dental units to drive growth in global dental X-ray marketAugust 17, 2015Rising demand for implant dentistry, maxillofacial surgery and orthodontics are the major factors driving strong market demand for cone-beam computed tomography (CBCT). Globally CBCT units are forecast to grow at a compound-annual growth rate (CAGR) of 10.8% from 2014 to 2019, generating almost $800 million in annual revenue by 2019. This is far above the growth of other dental X-ray segments (intraoral and extraoral), and outpaces almost all other medical imaging modalities in terms of unit growth globally.
CMP - A new positive signal for local medical device suppliers in China?July 07, 2015The recently announced China Medical Device Procurement Public Service Platform (CMP) is set to transform the medical equipment market in China. Benjamin Niu (lead analyst for the Chinese medical device market at IHS) attended the 2015 Health Industry Summit (tHIS) in May this year. Opening to crowds of over 210,000 visitors from over 150 countries, tHIS is the largest healthcare show in Asia. And the CMP was a clear focus.
Growing focus on medical digitalization driving growth in the Chinese healthcare IT marketJuly 07, 2015At the recent 2015 Health Industry Summit (tHIS) one trend was evident. China is accelerating towards the golden age for medical digitalization. Benjamin Niu, medical electronics and healthcare IT analyst for IHS, forecasts that in 2016, the total investment on medical digitalization will come to 34 billion RMD fueling expansion and implementation of healthcare IT systems in China.