The Diagnostic Imaging Market in Emerging Countries (China, India, Brazil) to Reach $4.5 billion by 2017

Tuesday 10 April 2012, Amsterdam

The report provides market landscape, competitive landscape and market trends information on ten diagnostic imaging equipment market categories: ultrasound systems, X-ray systems, MRI systems, computed tomography systems, nuclear imaging equipment, mammography equipment, angio suites, C-arms, bone densitometers and contrast media injectors. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape with major acquisitions and mergers in the last four years and a detailed analysis of the pipeline products in each category.


The Diagnostic Imaging Market in Emerging Countries (China, India, Brazil) to Reach $4.5 billion by 2017

See figure: Diagnostic Imaging Equipment, Emerging Countries (China, Brazil, India), Revenue ($bn), 2010-2017

The market for diagnostic imaging in the emerging countries (China, India and Brazil) is expected to grow at a Compound Annual Growth Rate (CAGR) of 7% to reach $4.5 billion in 2017. The market is expected to be driven by the increasing elderly population in these countries along with the substantial increase in disposable income which has improved the healthcare affordability of the general population. Market growth in the emerging countries over the next eight years is also anticipated due to the increasing awareness of prenatal testing, osteoporosis and the growing adoption of technological advances in radio imaging procedures.


China is the Largest Diagnostic Imaging Market among Emerging Countries

China is the largest diagnostic imaging market among the emerging countries with 55% contribution. In 2010, the diagnostic imaging market in China was valued at $1.5 billion and is expected to reach $2.6 billion by 2017. Brazil was the second largest diagnostic imaging market among the emerging countries valued at $715.5m in 2010. The diagnostic imaging market in India was worth $557.2m in 2010 and is estimated to reach $930.4m by 2017. The Chinese diagnostic imaging market is characterized by the presence of major domestic players with strong capabilities on Research and Development (R&D). This helps in development of cost effective domestic products for countries such as China and India.


Ultrasound Systems Market is the Largest Category in the Diagnostic Imaging Market of Emerging Countries

In 2010, ultrasound systems accounted for 28% of the total revenue generated in the diagnostic imaging market of the emerging countries. The increasing numbers of diagnostic procedures, the prevalence of osteoporosis and the higher acceptance of minimally invasive radio imaging procedures have led to the growth of diagnostic imaging market. The growth in this market is expected to be fueled by the growing elderly population digitization and the increased adoption of digitization and radio imaging procedures.


GE Healthcare, Siemens Healthcare and Philips Healthcare Lead the Diagnostic Imaging Market in Emerging Countries

In 2010, GE Healthcare, with a share of 20%, was the leader in the diagnostic imaging market in the emerging countries, followed by Siemens Healthcare and Philips Healthcare with a 19% and 12% share, respectively. Other key players in the market are Toshiba Medical Systems, Hitachi Medical Corporation and Shimadzu Corporation. Strong product portfolios catering to various categories within the diagnostic imaging market have helped GE Healthcare and Siemens Healthcare to gain a competitive advantage in the emerging countries.


Increasing Popularity of Emerging Countries as Medical Tourism Destinations is a Key Trend Encouraging Diagnostic Imaging Market Growth

India and Brazil are two of the most popular destinations to foreign medical tourists due to the abundance of surgical options and the high-quality and low- cost of care provided by healthcare facilities in these countries. The rising growth of medical tourism in these countries encouraged various medical centers, particularly Joint Commission International (JCI) accredited hospitals, to improve their infrastructure in order to meet international standards. This involves the installation of advanced diagnostic modalities such as digital X-ray systems, high slice MRI, CT systems and Angio suites. Upgrades or installations of these advanced new systems are primarily intended to provide efficient services and comfort to foreign patients. The rising growth of medical tourism is one of the main factors driving the growth of the diagnostic imaging market in these countries.

Outbound medical tourism is expected to increase as healthcare costs in the US and other developed countries continue to rise. In addition, higher out-of-pocket expenses are prompting patients in the US to seek cost-effective alternatives to various surgical treatments such as orthopedic surgery, neuro surgery, cardiac surgery, dental surgery and cosmetic surgeries involving diagnostic imaging methods. As a result, emerging countries such as India and Brazil are gaining a reputation as popular medical tourism destinations. Cost effective, quality care and better facilities without lengthy waiting periods make these countries an attractive medical tourism destination for foreign patients. There are 16 JCI accredited hospitals in India and 18 in Brazil; providing services for various operative procedures such as cosmetic, dental, neurology and cardiac surgeries.

Typically, in India for many operative surgeries such as orthopedic, cardio vascular and cosmetic surgeries, the treatment costs are 60-80% lower than in the US, including travel costs, a hospital stay and other related expenses. In 2007, the number of medical tourists to visit India reached 450,000 and the medical tourism industry is receiving 100,000 patients every year. The increasing popularity of emerging countries as medical tourism destinations is a key trend determining the growth of the diagnostic imaging market.


Ultrasound Systems Generates Highest Revenue within the Diagnostic Imaging Equipment Market of Emerging Countries

In 2010, ultrasound systems accounted for 28% of the total revenue generated within the diagnostic imaging equipment market of emerging countries. The increasing number of diagnostic procedures, the prevalence of osteoporosis and the higher acceptance of minimally invasive radio imaging procedures are the three factors which have led to the growth of diagnostic imaging equipment market. The growth in this market is expected to be fueled by the growing elderly population and increased adoption rate of digitization and radio imaging procedures.

In 2010, X-ray systems and Magnetic Resonance Imaging (MRI) systems market accounted for 22% and 18% of the revenue generated, while the combined others segment which includes; Computed Tomography (CT) systems, nuclear imaging equipment, mammography equipment, angio suites, C-arms, bone densitometers and contrast media injectors, accounted for a 33% share.