Feature | November 14, 2013

Limited Hospital Budgets in Europe Builds Market for Refurbished Medical Imaging Equipment

November 14, 2013 — The Eurozone economic slowdown has made it difficult for hospitals, particularly in Southern Europe, to procure new imaging modalities. With streamlined budgets and escalating number of medical procedures, the need to spend less on technologies while gaining the maximum benefit from them has sustained demand for high-quality refurbished imaging equipment.
 
As a result, refurbished systems are now preferred across most imaging departments, including nuclear medicine, mammography and minimally invasive surgeries in private hospitals.
 
Frost & Sullivan's Analysis of the European Refurbished Medical Imaging Equipment Market finds the market earned revenue of $417.6 million in 2012 and estimates this to reach $582.3 million in 2019.
 
"Growth of the private healthcare sector has increased the uptake of high-quality imaging modalities, as private hospitals focus strongly on returns on investment," said Raghuraman Madanagopal, healthcare research analyst, Frost & Sullivan. "Refurbished medical imaging equipment provides these hospitals with an opportunity to stay ahead of competitors by conducting more advanced procedures at a lower cost."
 
The market, however, presents its challenges. For instance, reimbursement laws across some European regions, such as France, compel reimbursement to be halved if the equipment is older than five years. This forces some hospitals to purchase new equipment. Moreover, regulations in certain countries such as Romania and Bulgaria restrict hospitals from purchasing old equipment using state funded loans. Because almost all public hospitals are covered by the state, they opt for new systems over refurbished models.
 
"Government regulations that have restricted the purchase of used equipment in some regions are expected to ease following the rapid acceptance of refurbished systems globally," said Madanagopal. "With governments relaxing their regulations, the scope for these systems in the public sector will grow."
 
Analysis of the European Refurbished Medical Imaging Equipment Market is part of the Advanced Medical Technologies Growth Partnership Service program. Frost & Sullivan's related research services include: Western and Eastern European Image and Information Management Systems Market, Global Medical Imaging Equipment Market Outlook and U.S. and European Digital Pathology Systems Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
 
For more information: www.frost.com

Related Content

New PET-CT Scan Improves Detection in Rare Cardiac Condition
News | PET-CT| July 25, 2017
Using a new imaging technique that can diagnose cardiac sarcoidosis much more accurately than traditional tests,...
Sponsored Content | Videos | CT Angiography (CTA)| July 21, 2017
DAIC and ITN Editor Dave Fornell discusses some of the most innovative new computed tomography (CT) technology and tr
Cardiac CT scan showing plaque and calcification in the coronary arteries, from a Toshiba CT scanner
News | Business| July 19, 2017
July 19, 2017 — The Society of Cardiovascular Computed Tomography (SCCT) created a reimbursement fee chart for cardia
Sponsored Content | Videos | Cardiovascular Surgery| July 19, 2017
This video educational session, provided in partnership with the American Society of Echocardiography (ASE), is title
CareSelect Declared Fully Qualified Clinical Decision Support Mechanism by CMS
News | Clinical Decision Support| July 18, 2017
National Decision Support Company announced the full qualification of its CareSelect Platform as a Qualified Clinical...
Sponsored Content | Videos | Cardiac Imaging| July 18, 2017
Leslee Shaw, Ph.D., director of clinical research and professor of medicine at Emory University, Atlanta, and past-pr
Sponsored Content | Videos | CT Angiography (CTA)| July 18, 2017
Matthew Budoff, M.D., FACC, professor of medicine, David Geffen School of Medicine at UCLA, endowed chair of preventi
Low Doses of Radiation Could Harm Cardiovascular Health
News | Radiation Dose Management| July 17, 2017
Ionizing radiation, such as X-rays, has a harmful effect on the cardiovascular system even at doses equivalent to...
Automated medical imaging views using deep learning, artificial intelligence, Philips Epiq

GE, Siemens and Philips are among the echocardiography vendors that incorporate deep learning algorithms into its echo software to help automatically extract standard imaging views from 3-D ultrasound datasets. This is an example of the Philips Epiq system, which uses the vendor's Anatomical Intelligence software to define the anatomical structures and automatically display standard diagnostic views of the anatomy without human intervention. This can greatly speed workflow and reduce inter-operator variability. 

Feature | Artificial Intelligence| July 17, 2017 | Oksana Bandura
Medical image analysis based on artificial intelligence (AI) employ convolutional neural networks, support vector mac
CMS Proposes Delaying Clinical Decision Support Documentation to 2019
News | Clinical Decision Support| July 14, 2017 | Jeff Zagoudis, Associate Editor
In a series of proposed rule changes to the Medicare Physician Fee Schedule (MPFS) released July 13, the Centers for...
Overlay Init