Frost: European refurbished equipment market faces challenges

By AuntMinnie.com staff writers

June 15, 2005 -- The European refurbished medical imaging equipment market generated $139.5 million in revenue in 2004, and is projected to reach $213.1 million in 2009, according to a report recently published by Frost & Sullivan.

The proportion of public and private healthcare institutions is a key determinant of the market's growth potential, however, according to Frost & Sullivan industry analyst Srividya Badrinarayanan. A predominance of public institutions that can afford new high-end equipment over private institutions can pose a significant challenge to market participants.

An anticipated increase in the number of private institutions is likely to mitigate this challenge, however, and strengthen the market, Badrinarayanan said.

Frost & Sullivan also said that while rapidly evolving technology is a major driver for the refurbished imaging equipment market, it also forms a substantial challenge for vendors. New technology introduction slows down customers' decision-making processes, as they become baffled as to whether to purchase new or refurbished equipment.

Also, many end users perceive refurbished equipment to be old systems that fail to meet the specifications of new models. Frost & Sullivan said that end users must be educated to improve the acceptance rate of these products.

Other barriers to acceptance include differing rules and regulations, as well as reimbursement laws across parts of Europe. Another significant challenge to the market is the low-quality products delivered by local refurbishers, Frost & Sullivan said.

By AuntMinnie.com staff writers
June 15, 2005

Medical display market shifts toward LCD, June 1, 2005

PET/CT market on the rise, April 25, 2005

European IGS market on the rise, April 18, 2005

Price breaks fuel European ultrasound market, April 12, 2005

Legacy vendors dominate fragmented European HIS market, March 29, 2005

Copyright © 2005 AuntMinnie.com

 

To read this and get access to all of the exclusive content on AuntMinnie.com create a free account or sign-in now.

Member Sign In:
MemberID or Email Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  
Forgot your password?
Sign in using your social networking account:
Sign in using your social networking
account: