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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.
1. Executive Summary
- 1. Executive Summary
- - 1. Executive Summary
2. Total China Medical Imaging Market
- 1. Introduction
- - 1. Market Overview
- - 2. Market Definitions and Segmentation
- - 3. Methodology
- - 4. Market Measurements
- - 5. Market Drivers
- - - a. Rapid Economic Growth Boosts Healthcare Expenditure in Medical Imaging Market
- - - b. Chinese Government Compliance with WTO and WHO Standards Spurs Intensive Market Growth
- - - c. Loss of Prescription Drug Revenue Pushes Hospitals to Find New Revenue Streams
- - - d. Intense Hospital Competition Drives New Medical Imaging Equipment Sales
- - - e. Government Projects Stimulate Growth of Medical Imaging Equipment Purchases
- - - f. Flexible Financing Options Allow New Medical Imaging Equipment Purchases
- - - g. Demand for Higher Technology Modalities Boosts Sales in the Medical Imaging Industry
- - 6. Market Restraints
- - - a. Government Resource Allocation Policy Restricts Unit Sales of Medical Imaging Instruments
- - - b. Government Regulation of Tendering Curtails Profit Margin of Manufacturers
- - - c. Hospital Financial Weakness Encumbers Medical Imaging Sales and Development
- - 7. Total Revenues and Revenue Breakdown by Modality
- 2. Challenges and Strategic Recommendations
- - 1. Industry Challenges
- - 2. Strategic Recommendations
- 3. Competitive Analysis
- - 1. Competitive Structure
- - 2. Market Participants by Segment
- - 3. Product Overview
- - 4. Market Share Analysis
- - 5. Additional Success Factors
- 4. Frost & Sullivan Awards
- - 1. Market Leadership Award
- - 2. Competitive Strategy Leadership Award
- - 3. Technology Leadership Award
- - 4. Product Line Strategy Leadership Award
3. China Healthcare Infrastructure and Regulatory Analysis
- 1. China Healthcare Infrastructure and Insurance
- - 1. Overview
- - 2. Hospitals and Medical Centers
- - 3. Health Insurance Structure and Statistics
- 2. China Regulatory Framework
- - 1. Overview
- - 2. State Food and Drug Administration and Medical Device Classification
- - 3. Foreign Manufactured Medical Device Regulations
- - 4. Domestic Manufactured Medical Device Regulations
- - 5. Labeling Requirements
- - 6. Other Approvals and Certifications
- - 7. China Compulsory Certification
- 3. Regulation of the Bidding and Tendering Process
- - 1. Bidding and Tendering Requirements
- - 2. Bidding Process
- 4. China Open Door Policy and Incentives
- - 1. WTO Agreement and Special Economic Zones
- - 2. ASEAN-China Free Trade Area (ACFTA)
4. China Computed Tomography Market
- 1. CT Market Trends
- - 1. Market Overview
- - 2. Market Definitions and Segmentation
- - 3. Methodology
- - 4. Market Measurements
- - 5. Market Drivers
- - - a. Hospital Revenue Shortfalls Spark High Demand for CT
- - - b. Price Erosion Drives CT Unit Sales
- - - c. Familiarity with CT Technology Leads to Enduring Appeal of CT Over Other Modalities
- - - d. SARS Epidemic Accelerates Awareness and Growth in CT Scanners
- - 6. Market Restraints
- - - a. Widespread Refurbished and Pre-owned CT Equipment Cannibalizes Sales of New CT Scanners
- - - b. Low Replacement Rate Curbs Sales of New CT Equipment
- - - c. Price Erosion Thwarts CT Market Revenue Growth
- - - d. Approaching Primary Market Saturation Limits CT Growth Rate
- 2. CT Market Forecasts
- - 1. Revenue Forecast
- - 2. Unit Shipment Forecast
- - 3. Historical Installed Base
- - 4. Competitive Analysis
- - 5. Market Share Analysis
5. China Magnetic Resonance Imaging Market
- 1. MRI Market Trends
- - 1. Market Overview
- - 2. Market Definitions and Segmentation
- - 3. Methodology
- - 4. Market Measurements
- - 5. Market Drivers
- - - a. Cost Effectiveness of Low Field MRI Equipment Sparks Demand for MRI
- - - b. Physician Awareness Drives MRI Sales
- - 6. Market Restraints
- - - a. Lack of Patient Awareness and Physician Expertise Curb MRI Market Penetration
- - - b. Lower CT Prices Thwart MRI Market Penetration
- - - c. Government Resource Allocation Policies Limit New MRI Sales
- 2. MRI Market Forecasts
- - 1. Revenue Forecast
- - 2. Unit Shipment Forecast
- - 3. Historical Installed Base
- - 4. Competitive Analysis
- - 5. Market Share Analysis
6. China Ultrasound Market
- 1. Ultrasound Market Trends
- - 1. Market Overview
- - 2. Market Definitions and Segmentation
- - 3. Methodology
- - 4. Market Measurements
- - 5. Market Drivers
- - - a. Color Ultrasound Price Erosion Increases Affordability
- - - b. Public Health Awareness and Rural Medical Needs Drive Ultrasound Sales
- - - c. Advances in Technology and Increasing Expectations Spur Demand for Premium Ultrasound Systems
- - 6. Market Restraints
- - - a. Fierce Competition and Price Erosion Result in Stagnant Market Revenues
- - - b. Government Bidding Process Decimates Ultrasound Profit Margins
- - 7. Market Trends
- 2. Ultrasound Market Forecasts
- - 1. Revenue Forecast
- - 2. Unit Shipment Forecast
- - 3. Historical Installed Base
- - 4. Competitive Analysis
- - 5. Market Share Analysis
7. China Nuclear Medicine Market
- 1. Nuclear Medicine Market Trends
- - 1. Market Overview
- - 2. Market Definitions and Segmentation
- - 3. Market Trends
- - 4. Market Drivers
- - - a. Fast Growing Oncology Research Centers and Hospitals Propel Demand for Nuclear Medicine Instruments
- - - b. Growth of FDG Suppliers in China Ignites Sales of PET/CT
- - 5. Market Restraints
- - - a. Financial Weakness Hampers Dynamic Force of Nuclear Medicine Market
- - - b. Government Resource Allocation Ruling Hinders the Sales Growth of Nuclear Medicine
- - - c. Focus on Return on Investment Confines PET-CT Acquisitions
- - - d. Lack of Insurance Reimbursement for PET-CT and PET Exams Discourage Nuclear Medicine Growth
- - - e. Lack of Expertise Restricts Market Expansion
- - 6. Competitive Analysis
8. Statistical Appendix
- 1. Supporting Statistical Data
- - 1. Total Population
- - 2. Total Healthcare Spending
- - 3. Per Capita Healthcare Spending
- - 4. Licensed Radiologists
- - 5. Government Hospitals
- - 6. Private Hospitals
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