Asia Pacific Poised to Become World’s Largest Market for Ultrasound Systems

While the market for ultrasound imaging equipment in Western Europe and the United States has been battered by the Great Recession and lingering economic uncertainty, China’s market is a picture of health. The Chinese market for ultrasound imaging equipment will exceed US$1 billion by 2014, achieving annual growth of 9.3%, according to a study published by InMedica. The Asia Pacific region as a whole is forecast to become the largest major world market for ultrasound systems by 2011.

Largely driven by China’s ongoing healthcare reform, a focus on upgrading medical devices in the thousands of township and county hospitals has resulted in shoring up the black and white equipment market, note the authors of The China Market for Ultrasound Imaging Equipment – 2010 Edition. In the long term, these units will be replaced by costlier colour systems, which will continue to drive growth. Domestic manufacturers will dominate the lower end of that market, according to Shanghai-based InMedica analyst Owen Tang. “There are now far more local suppliers of colour equipment than when we first looked at this market in 2008. As a consequence, colour equipment has become much more affordable to many more customers,” says Tang. “Multinational companies still play a key role in the colour systems market, but more so at the high end.”

The future is not as bright for the developed world. The global market for ultrasound imaging equipment declined by 6% in 2009 compared with 2008, and further expected public health cuts will continue to stall equipment purchases in 2010. A return to growth is not predicted until 2011, according to The World Market for Ultrasound Imaging Equipment – 2010 Edition, also published by InMedica.

Tags: China, europe, InMedica, Ultrasound, ultrasound imaging equipment market, USA