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China Medical Imaging Markets
Frost & Sullivan, June 2005
Intense Hospital Competition Bolsters Medical Imaging Equipment Sales in China
Per capita healthcare expenditure has risen dramatically in the booming Chinese economy, raising public expectations of the quality of medical equipment available in hospitals. With the Government’s move to privatize 50.0 percent of the state-owned hospitals, competition is intensifying among the rapidly expanding private hospitals and medical centers. Together, these factors are providing a tremendous boost to medical imaging devices markets. International manufacturers are able to sell their products better to the top tier hospitals, while local manufacturers are augmenting their sales of new value tier products due to the general desire to stay competitive, even by low-end hospitals
This Frost & Sullivan research service analyses the Chinese medical imaging markets, segmenting it into computed tomography (CT), magnetic resonance imaging (MRI), ultrasound imaging, and nuclear medicine. It discusses the various market trends and opportunities while providing market share analysis, forecasts, drivers, restraints, and revenues. The study enables companies to align their positioning strategies to benefit from the changing market and obtain maximum return on investment.
SARS Epidemic Accelerates Awareness and Growth in CT Scanning Sector
After the outbreak of the severe acute respiratory syndrome (SARS) in 2003, the Chinese Ministry of Health allocated millions of dollars for medical imaging equipment to assist in the diagnosis and treatment process. The syndrome also resulted in the Chinese Government’s recent agreement with the World Trade Organization (WTO) and the World Health Organization (WHO) to conform to world standards of healthcare, especially in rural areas, thus opening up a huge potential market for these instruments in rural China.
The medical imaging markets in China possess high potential for double digit growth rate over the next four years, says the analyst of this research. The Chinese Ministry of Health has taken conscious steps in expanding community health services to cities and rural areas as well as meeting the regulations and standards of WTO and WHO.
Advances in Technology and Increasing Physician Awareness Spur Demand for MRI Scanners and Premium Ultrasound Systems
Benefits such as superior sensitivity, enhanced image quality, faster and easier image processing, non-ionizing radiation, non-invasive feature, and the physical advantages to the patient, prompt the technology savvy, new generation physicians to highly recommend MRI scanning. This is acting as an important driver for MRI purchases and is also aiding the growth of ultrasound systems.
High-tier hospitals are obliged to purchase advanced medical imaging technologies such as color ultrasound in order to satisfy their very demanding residents and referring physicians, says the analyst. However, these institutions also realize that having premium modalities in-house allows them to increase their service charges while enhancing their reputations. With demand stemming from both the physicians and the hospitals, the unit shipments are likely to begin to grow as standard systems are replaced with premium ultrasound systems.
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