“Rapid market growth is occurring because of the increasing population of the elderly across Europe, even as replacement-driven demand is projected to increase in the near future,” notes Frost & Sullivan Research Analyst Divya B. “The entry of new and innovative technologies will also promote market expansion in the near term.”
Currently, the promising mammography systems market is in the growth stage of the product life cycle. Revenue increases in this segment is being spurred primarily due to the announcement of the DMIST results and the resultant digital transition across Europe. Simultaneously, bone densitometry systems market will experience low but stable revenue growth.
However, the high costs of digital mammography systems and axial DEXA bone densitometry systems will deter market expansion. At the same time, the high costs of screening in the bone densitometry systems and intense competition in the mammography systems market will also hinder market growth. Such challenges will be exacerbated by varied country-specific reimbursement regulations.
“As the bone densitometry market in Europe is mature, low and/or non-existent reimbursement will have a greater effect,” cautions Ms. Divya. “Also, due to the increased costs of adopting digital technology including the purchase of CAD, PACS systems in the mammography systems market might prove to be a constraint initially, but in the long-term, will reflect the inevitable transition to digital.”
To successfully enter local markets, industry participants should acquire or establish strategic alliances with smaller firms. They should also introduce financing and easy leasing options to facilitate equipment purchases.
