While the economy has proven to be volatile and healthcare has proven to shift more than an electric rodeo bull. While these kinds of issues have become a source of trepidation for everyone, including diagnostic imaging equipment providers, there are openings. The business as a whole is solid, with massive market projections that are looking at somewhere in the neighborhood 30 billion dollars by 2017. Manufacturing is strong as new modalities and technologies get clearances, and pricing is staying in a fair range given recent pushes to ensure that actual procedures don’t vary in terms of price.
The one market that seems to be heating up in terms of intense competition is the imaging parts market. What’s making the parts market so incredibly hot right now, among other things, is the fact that there are many new competitors flooding the market and attempting to get in on the action. Equipment as a whole is a different story, equipment depends on imaging centers going up, hospitals refurbishing their facilities, and clinicians looking to expand the scope of their practice.
A major factor that makes this competition hot is the fact that the refurbished equipment market has taken center stage, especially on the international scene because Eastern European markets, as well as Asian markets, are acquiring equipment. So how does this work? Parts can range in terms of size, weight, purpose, and price. Parts are often times acquired in greater amounts and seemingly easier to sell. This type of competition within the parts sector does offer an emphasis in quality and record keeping.
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In order to better work with clients, parts providers have taken to using software that allows them to keep exceptional records. The records that need to be kept include records that spot the needs of the provider. One of the things that’s making the competition tough is also the fact that providers are taking to social media in order to get more attention and as a result broaden their base of followers.
The base has to reach across global borders given the strong markets overseas. Yes, the equipment is being sold, but that equipment requires maintenance so parts providers are taking the opportunity in order to show that they are the ones to do the job. The thing is that when several companies jockey for that spot, someone has to lose.
It will be interesting to see if this new, heated competition leads to a market saturation of sorts. Market saturation is not a good thing but it may well occur with the newcomers that are trying to cash in.
If you have any questions about diagnostic imaging equipment please feel free to give us a call. Our team of experts here at Amber Diagnostics looks forward to answering any questions that you may have.