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Overview of Ultrasound Market in India
Frost & Sullivan, Feb 2011, Pages: 68
Over the recent years, the Indian ultrasound industry has witnessed a tremendous growth, in spite of the economic downturn in foreign nations. The recent developments in ultrasound technology has widen the clinical applications of the device, henceforth acquiring a large customer base and acting as a primary tool in the diagnostic services. The total Indian ultrasound market was valued at $109.1 million for 2009 and expected to at a rate of 14 percent. This research service contains analysis of ultrasound replacement market in terms of market drivers, market restraints, market size, market forecast, competitive landscape, market share analysis, technology trends.
This Frost & Sullivan research service titled Overview of Ultrasound Market in India analyses the ultrasound replacement market in terms of market size, drivers, and restraints while providing market forecast and technology trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: black and white ultrasound, color doppler, and laptop and/or hand-carried market.
Market Overview
Color Doppler Segment Dominates the Indian Ultrasound Market with a 12.9 percent Growth in Revenues
Advances in Ultrasound Technology such as 3D and 4D has Led to its Wider Clinical Application in Cardiology and Radiology
The Indian ultrasound market is one of the few markets in the healthcare industry that emerged profitable during the economic downturn in 2008-2009. India is one of the fastest growing regions for the ultrasound market, marking a compound annual growth rate of about 15 percent between 2009 and 2016. “The Indian healthcare market showed positive growth due to the threshold provided by the medical imaging sector comprising computerized tomography (CT), magnetic resonance imaging (MRI), radiography, and ultrasound,” observes the analyst of this research service. “An expanding population, a booming economy, and the Government's efforts to decrease maternal and infant mortality rate and high-end, user-friendly machines are further encouraging the growth of the ultrasound market.” There is a rise in demand for ultrasound machines designed for specialties such as cardiology and radiology and in the knowledge of the advantages offered by the portable color ultrasound systems. Increasing awareness about screening for breast cancer has driven the number of ultrasound procedures. Advanced technology such as echocardiography has evolved into a non-invasive method for imaging, driving further growth.
The color doppler is especially gaining popularity and is a major contributor to the ultrasound market. However, the availability of low-end colour doppler at attractive prices has led to the decline of black and white (B&W) ultrasound equipment market. “B&W ultrasound equipment market is experiencing a steep decline even though there is a lot of potential in the Indian rural/urban areas, owing to strict implantation of pre-natal diagnostics techniques (PNDT) Act, which prohibits any person or body from using equipment or techniques for the purpose of detecting the sex of a foetus,” observes the analyst. “Educating the rural population on the importance of ultrasound screening during pregnancy will help tap the rural and tier 3 cities.” Besides, high import duties and the complexities involved in obtaining the PNDT certificate are the major challenges.
The rising awareness of the advantages of the colour ultrasound systems and an ever-growing number of radiologists and physicians will help India to continue presenting growth and investment opportunities for ultrasound manufacturers in future. Diagnostic success rates, a decreasing price trend, improved handling of the devices and the use of ultrasound as a primary screening method for breast cancer will be the key factors influencing the volume of ultrasound procedures in India. Innovative products and new technology such as miniature ultrasound systems are likely to contribute to the growth of mid and high-end ultrasound systems.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Black & white ultrasound (portable, cart-based)
- Colour doppler (low-end, mid-end, high-end and premium)
- Laptop and/or hand-held market
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