Growth in Global Diagnostic Imaging Systems Markets Will Come Primarily From Emerging Markets, Where Government Investment in HealthCare Is Rising Growth Will Remain Slow or Stagnant in Mature European and U.S. Markets, According to Findings from Decision Resources Group
BURLINGTON, Mass., Jan. 29, 2014 /PRNewswire/ -- Decision Resources Group finds that global markets for diagnostic imaging systems -- including computed tomography (CT), general radiography, magnetic resonance imaging (MRI) and ultrasound systems -- differ considerably by region.
The mature European and United States markets are currently characterized by slow or stagnant growth because of market saturation, leading to low incremental sales. In contrast, emerging markets in Brazil, Russia, India and China will see rapid growth as government-funded initiatives and private investment drive modernization in the healthcare system. For example, in Russia, national modernization efforts have significantly increased the installed base of diagnostic imaging systems, while new hospital construction will boost system purchases in China.
"Across emerging markets, more facilities will be able to afford premium systems; significant improvements in image quality, workflow efficiency and higher patient throughput will encourage facilities to purchase these systems to improve clinical operations and diagnostic accuracy," said Decision Resources Group Team Leader Mickel Phung. "Furthermore, the proliferation of 3-D and higher-quality imaging is opening access to increasing numbers of cardiac procedures in developing markets. However, there is currently a shortage of qualified physicians to perform these procedures, and these countries will need to invest in technician training. Companies that are able to facilitate this training have the opportunity to build strong relationships with hospitals in these regions."
Price competition is also increasing globally; an influx of value competitors will pose a challenge in both mature and emerging markets, particularly in the general radiography and ultrasound system markets. For example, Mindray Medical International has become the leading domestic ultrasound system competitor in China by offering systems at a low price, and the company is becoming popular on an international level as well. Mindray and other value competitors will continue to see success because many facilities are not yet able to afford premium systems.
Decision Resources Group's Global Markets for Computed Tomography Systems 2014, Global Markets for General Radiography Systems 2014, Global Markets for Magnetic Resonance Imaging Systems 2014 and Global Markets for Ultrasound Systems 2014 reports include unit, installed base, average selling price and revenue information. The reports also include market drivers and limiters and a competitive landscape for CT, general radiography, MRI and ultrasound systems, respectively, in the United States, France, Germany, Italy, Spain, the United Kingdom, Brazil, Russia, India, China and Turkey.
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