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Analysis of the U.S. Interventional Radiology and Cardiology X-ray Equipment Market
Date:5/8/2013

macroeconomic pressures coupled with a slowdown in replacement cycles.
• While the revenue opportunity seems to have adjusted to a new lower level, the market outlook seemed to be reverting back to positive levels starting in the second half of 2012. This positive traction is due to the fact that both the IR and IC market segments also comprise smaller sub-segments that offer significant growth opportunities.
• Such is the case of interventional oncology and interventional neurology, two sub-segments of IR that are poised to pursue their current growth dynamics.
• Similarly, certain sub-segments of the IC market such as electrophysiology (EP) and other emerging minimally invasive procedures continue to exhibit robust growth.
• Combined, these growth pockets hold the promise of offsetting some of the recent growth decays in the mature market segments, keeping the overall growth dynamics positive.
• More so than the growth pockets driving, respectively, the IR and IC markets, it is the combined demand from these two segments that is creating the highest synergies.
• As combo catheterization suites and hybrid operating rooms (OR) slowly emerge as a clinical best practice, they are driving demand for multipurpose interventional equipment.
• The recovery of market growth is expected to be gradual, as installed base equipment lifecycles decay from the current X to X years toward seven to Xyears, as in the past.
• This revival of replacement cycles will hinge on technology advances that pertain to the usability of equipment in these complex environments and combine multiple modalities.

CEO's Perspective

1. Replacement cycles are lengthening in mature segments, while emerging markets and procedures are offsetting part of the slowdown.
2. Product and technology innovation cycles are lengthening due to mounting market and industry pressures.
3. Technology advanc
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