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SOURCE Decision Resources Group
Market Will Be Limited by the High Cost of the Systems, According to Findings from Decision Resources Group
BURLINGTON, Mass., Aug. 28, 2014 /PRNewswire/ -- Decision Resources Group finds that the Indian diagnostic imaging system market will grow strongly through 2022 at a compound annual growth rate of approximately 6 percent. This will be largely supported by strong population growth and a growing middle class, which will increase demand for imaging procedures. The Indian government's greater investment in health care will also allow more facilities to purchase or upgrade diagnostic imaging equipment.
Other key findings from Decision Resources Group's coverage of the Indian diagnostic imaging system market:
- Refurbished systems: The high cost of diagnostic imaging systems will continue to put these systems, especially high-end systems, out of reach for many facilities. As a result, the market for refurbished systems is large in India because of the low cost of these systems. For instance, in the computed tomography (CT) system market, refurbished systems made up nearly half of all unit sales in 2013, a trend that will be sustained through the forecast period.
- Higher-end systems: Nonetheless, among higher-end facilities, there will be a shift toward systems with higher workflow capabilities to allow for greater patient throughput. For example, there will be a trend toward 1.5 and 3 T magnetic resonance imaging (MRI) systems, higher-slice CT systems and direct or computed radiography systems.
- Medical Tourism: Growth in the diagnostic imaging systems market will be further spurred by the influx of foreign patients, largely from other parts of Asia, the Middle East and the United States. Tourists seeking imaging procedures at a lower cost than their home country will motivate facilities in India to adopt higher-end systems to meet this added demand.
Comments from Decision Resources Group Analyst Stephanie Wood:
- "Demand for portable ultrasound systems is low in India relative to other countries. Because there is a tendency to illegally abort female fetuses in the country, the government has imposed regulations requiring facilities to register systems capable of fetus sex detection. Portable ultrasound systems are thus subject to especially heavy restrictions-due to the difficulty associated with monitoring their ethical usage-and many facilities opt to not purchase these systems at all."
- "Although large multinational corporations are perceived to have the highest-quality products, these companies are quickly realizing that they need to tailor their products to meet the unique needs of Indian facilities. Toshiba Medical Systems, for example, recently launched its Vantage Elan MRI system, which not only offers an alternative power-saving mode, but also takes up less space than other systems, an optimal feature for smaller facilities with limited room for imaging equipment."
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.
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