Based on its recent analysis of the ultrasound imaging market, Frost & Sullivan recognizes Philips' with the 2014 North America Frost & Sullivan Company of the Year Award. Philips' premium product platform, EPIQ, brings much-needed advances to the most demanding application areas of ultrasound imaging. It offers higher consistency, reproducibility, ease of use, as well as improved clinical information.
The outstanding image quality achieved through the EPIQ system's brand new nSIGHT architecture, which includes a new precision beamformer, can result in more robust quantitative ultrasound imaging. Similarly, the unique xMATRIX transducer technology allows users to perform enhanced, real-time volumetric imaging of the heart, while the cutting-edge Anatomical Intelligence technology extracts a new layer of clinical information from ultrasound imaging examinations.
Furthermore, Philips recently introduced a new high-end ultrasound system, Affiniti, which is designed to address the everyday challenges of today's healthcare environment. Meanwhile, its new VISIQ tablet-based system deepens and broadens the range of Philips' ultrasound solutions in order to meet the growing and diverse requirements of a global medical community.
"EPIQ is designed to be the foundation of Philips' current and future R&D efforts in ultrasound imaging," said Frost & Sullivan Industry Principal Nadim Michel Daher. "The company's success in bringing to market these new premium medical imaging solutions, especially in an uncertain economic environment in healthcare, in general, and imaging, in particular, is highly commendable."
With powerful and definitive diagnostic tools such as Philips' new ultrasound solutions, clinical departments can optimize their imaging service line to design new clinical care pathways around premium modalities.
"Within just a year of its commercial release in the U.S. market, EPIQ has already come to account for the majority of Philips' new sales in the premium segment and achieved high conversion rates in the installed base," noted Daher. "EPIQ ultrasound is gaining momentum in the global market as well, further building on the legacy of its iU22 and iE33 ultrasound systems. Most recently, it was introduced in the fast-growing Chinese and Latin American markets."
Frost & Sullivan expects the unmatched capabilities of EPIQ in cardiovascular ultrasound to further strengthen Philips' dominance in the ultrasound imaging market. The various technical innovations underlying the new EPIQ ultrasound system beamforming, parallel processing, tissue penetration, frame rate, as well as spatial, temporal and contrast resolution collectively emphasize Philips Healthcare's technological prowess and growth potential.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in products and technologies, leadership in customer value as well as speed in response to market needs. In short, the award looks at the emerging market players in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About Royal Philips
Royal Philips (philips.com) is a diversified health and well-being company, focused on improving people's lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2013 sales of EUR 23.3 billion and employs approximately 115,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare.
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