CANCER EQUIPMENT MARKETS TO GROW AT 7% RATE, PACED BY PET, CONSTRAINED BY COST-CUTTING.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Paced by rapid growth in positron emission tomography positron emission tomography: see PET scan. positron emission tomography (PET) Imaging technique used in diagnosis and biomedical research. (PET), the worldwide market for cancer diagnostic imaging and therapeutic equipment will grow from $2.7 billion in 1993 to $4.4 billion in the year 2000 at a 7 percent compound annual rate, projects a new study just released by Frost & Sullivan. PET's share of market revenues will mushroom from less than 1 percent in 1993 to 15 percent in 2000, by then equaling the size of the computed tomography Computed tomography (CT scan) X rays are aimed at slices of the body (by rotating equipment) and results are assembled with a computer to give a three-dimensional picture of a structure. (CT) equipment market, which will decline from 24 to 15 percent of total revenues in the same period, forecasts the report, WORLD CANCER DIAGNOSTIC IMAGING AND THERAPEUTIC EQUIPMENT MARKETS: DESPITE INCREASING CANCER INCIDENCE, COST-CONTAINMENT DICTATES MARKET DIRECTION. Other major equipment segments include therapeutic equipment, with 26 percent of market revenues in 1993, MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. with 20 percent, ultrasound 10 percent, mammography mammography, diagnostic procedure that uses low-dose X rays to detect abnormalities in the breasts. The early diagnosis of breast cancer made possible by the routine use of mammography for screening women increases a woman's treatment alternatives and improves her 8 and radiography radiography: see X ray. 7. Aging of the population and technological advances will drive market growth, as will shifting marketing focus toward emerging regions, especially in Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Some 45 percent of worldwide sales were accounted for by the U.S. market in 1993, 24 percent Europe and 19 percent Japan. The wave of efforts to reform healthcare systems and contain spiraling healthcare costs has created uncertainty that has constrained con·strain tr.v. con·strained, con·strain·ing, con·strains 1. To compel by physical, moral, or circumstantial force; oblige: felt constrained to object. See Synonyms at force. 2. sales in some markets. Manufacturers will seek new outlets to maintain their revenues and profits as "big 3" markets become increasingly saturated and constrained by cost-containment policies, leading to increasing emphasis on global marketing and a push toward higher-growth developing areas. Diagnostic agents are increasingly being developed specifically targeted to specific cancer types, particularly in nuclear medicine, which is expanding the realm of cancer applications for diagnostic imaging. Image-guided biopsy is increasingly being used to more accurately target lesions target lesion Dermatology A lesion typical of erythema multiforme–EM in which a vesicle is surrounded by an often hemorrhagic maculopapule; EM is often self-limited, of acute onset, resolves in 3-6 wks, and has a cyclical pattern; EM lesions are 'multiform' under examination. Manufacturers will provide more cost- effective systems allowing faster exams. Digitalization digitalization /dig·i·tal·iza·tion/ (dij?i-tal-i-za´shun) the administration of digitalis or one of its glycosides in a dosage schedule designed to produce and then maintain optimal therapeutic concentrations of its cardiotonic and computerization com·put·er·ize tr.v. com·put·er·ized, com·put·er·iz·ing, com·put·er·iz·es 1. To furnish with a computer or computer system. 2. To enter, process, or store (information) in a computer or system of computers. will increase speed, accuracy and quality of diagnostic and cancer therapy. Vendors will continue to strive to maintain a leading edge by regularly providing upgrade packages to existing systems. Strategic alliances are becoming more important as competitive pressures intensify. Cost-containment pressures make it more crucial than ever for manufacturers to stay cost-competitive while offering the latest technology and maintaining R&D levels while cutting back on manufacturing and distribution expense, and combining forces can help achieve this difficult combination of goals. Targeting of decision-makers is increasingly focused on administrators and financial officers rather than physicians, particularly for high-priced products like diagnostic imaging systems. Outcome studies will be used more to assess information on the benefits of technologies. Successful vendors will need increasingly to prove the clinical validity and utility of their systems in terms of positive patient outcomes. Forecasts in this study project that share of the overall diagnostic market that is used specifically in cancer applications. Cancer therapeutic equipment is further segmented into radiation therapy equipment, hyperthermia hyperthermia /hy·per·ther·mia/ (-ther´me-ah) hyperpyrexia; greatly increased body temperature.hyperther´malhyperther´mic malignant hyperthermia equipment and remote afterload brachytheraphy (RAB Rab (räb), Ital. Arbe, island (1991 pop. 9,205), 40 sq mi (104 sq km) off Croatia, in the Adriatic Sea. One of the Dalmatian islands, it is a popular seaside resort. Fishing and agriculture are the main occupations. ). Frost & Sullivan is an international high-technology research firm. All Frost & Sullivan reports are based on extensive interviews with marketing and technical experts from selected companies in each market segment. Primary research is validated by thorough analysis of available secondary research. Frost & Sullivan is the leading publisher worldwide of high-technology research reports. Report: 968-50 Publication Date: 1994 Price: $2295 Total Cancer Diagnostic Imaging and Therapeutic Equipment Market: Revenue Forecasts (World), 1990-20003-1 Total Cancer Diagnostic Imaging and Therapeutic Equipment Market: Revenue Forecasts (World), 1990-2000gures Revenue RevenuesGrowth Rate Year ($ Billion) (%) 1990 2.66 --- 1991 2.80 5.1 1992 2.84 1.7 1993 2.74 (3.6) 1994 2.85 4.1 1995 2.99 4.9 1996 3.16 5.7 1997 3.37 6.5 1998 3.63 7.7 1999 3.97 9.4 2000 4.44 11.8 Compound Annual Growth Rate (1993-2000): 7.1% Note: All figures are rounded. Source: Frost & Sullivan CONTACT: For further information please contact: Amy Arnell Kristina Menzefricke Nadge Keryhuel Mountain View London Paris (415) 961-9000 44 171 730 3438 33 1 4742 9127 (415) 961-5042(fax) 44 171 730 3343 33 1 4742 9129 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion