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

Videos | Magnetic Resonance Imaging (MRI) | August 13, 2018
Haojie Wang, M.D., director of advanced cardiovascular MRI and a member of the heart valve clinic at Baylor Scott Whi
Cardiac Imaging Reveals Roots of Preeclampsia Damage in Pregnant Women
News | Women's Health | August 07, 2018
Johns Hopkins researchers say a heart imaging study of scores of pregnant women with the most severe and dangerous form...
Videos | Computed Tomography (CT) | July 25, 2018
A discussion with Patricia Dickson, LRT(CT), director of imaging and outpatient services, Capital Cardiology Associat
Researchers Trace Parkinson’s Damage in the Heart
News | PET Imaging | July 17, 2018
A new way to examine stress and inflammation in the heart will help Parkinson’s researchers test new therapies and...
Zebra Medical Vision Announces FDA 510(k) Clearance of Coronary Calcium Algorithm
Technology | Computed Tomography (CT) | July 12, 2018
Zebra Medical Vision has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Coronary...
HeartFlow Announces New Commercial Coverage With UnitedHealthcare
News | Computed Tomography (CT) | July 03, 2018
HeartFlow Inc. announced that UnitedHealthcare now covers the HeartFlow FFRct Analysis, extending access to their 45...
New ASNC SPECT Imaging Guideline Addresses Advances in Myocardial Perfusion Imaging
News | SPECT Imaging | June 21, 2018
The American Society of Nuclear Cardiology (ASNC) has published an update to its 2010 guidelines for single photon...
Epsilon Imaging Demonstrates Strain Imaging Integration for Echo Programs at ASE 2018
News | Cardiovascular Ultrasound | June 19, 2018
Clinical practice, along with guidelines and research, have shown that speckle tracking strain imaging can improve...
FDA Clears Bay Labs' EchoMD AutoEF Software for AI Echo Analysis
Technology | Cardiovascular Ultrasound | June 19, 2018
Cardiovascular imaging artificial intelligence (AI) company Bay Labs announced its EchoMD AutoEF software received 510(...
Overlay Init