Frost and Sullivan Report Predicts Market Growth Acceleration in CEE and Russia

New analysis from Frost & Sullivan, Medical Imaging Market Outlook for CEE and Russia, finds that the market earned revenues of $1.42 billion in 2010 and estimates this to reach $2.34 billion in 2015. The research covers general X-ray, magnetic resonance imaging (MRI), computed tomography (CT), ultrasound, molecular imaging, mammography and picture archiving and communication system (PACS) segments across Russia, Hungary, Poland, the Czech Republic, Bulgaria and Romania. Rising disease incidence and growing awareness about health issues will boost demand for medical imaging services across Central and Eastern Europe (CEE), the report says. However, the installed base of imaging devices in the region is insufficient, especially in the high-end segment, such as MRI, CT, and PET, and a large proportion of lower-end imaging modalities is obsolete and requires replacement. The availability of EU funds and governmental financial support, as well as the increasing importance of private healthcare, are set to help overcome this challenge. In Russia, the 2020 Healthcare Development Programme and National Project 'Health' focus not only on bringing high-end advanced technologies to the country, but also on purchasing mid-range and low-end devices that are highly needed in regional hospitals. The total budgets for 2010-2012 allocated in these programs are approximately $16 billion. Accession to the EU has given countries like the Czech Republic, Hungary, Poland, Bulgaria and Romania, access to funding sources planned in the EU budget for 2007-2013. As a result, both private and public facilities can apply for EU funding support, which can subsidize the purchase of new medical equipment. To see Medical Imaging Market Outlook for CEE and Russia, click here. If you are interested in more information on this study, please send an e-mail with your contact details to Janique Morvan, Corporate Communications, at janique.morvan@frost.com.