The report revealed the largest printers now control 72% of the market, compared to 68% two years ago.

However, the study also discovered that while 82 of the 200 companies are showing no sales increases at all, 76 are selling less than they were two years ago.

Nearly half (93) of the companies had increased their debts to hold their place in the market, while 141 printers had failed to increase sales at the same rate as their investment, it claimed.

As a result, the report awarded 70 companies a danger rating due to "their failing business strategy".

David Pattison, senior analyst at Plimsoll, said: "The recent slowdown in the UK economy will only accelerate a long-standing problem in the market."

He added: "Following the last few years, which have been largely profitable, business leaders have been keen to invest heavily and, in turn, have borrowed heavily. Yet due to the turbulent economic climate of 2008, they are seeing very little by way of return."

Pattison said those companies awarded a danger rating "needed to have a serious rethink when it comes to their business models".

He warned that jobs and key projects "could be cancelled in an attempt to control the spending – but for some companies it could well be a case of too little, too late".

Marcus Clifford, managing director of BPIF McInnes Corporate, said: "It really reflects the way revenue streams are changing but it's necessary to take into account the strategies that businesses are embarking on to counter these changes."