Substantial investment in healthcare could increase China's share of the global ultrasound market to 20% by 2016, according to a new study from market research firm InMedica.
Healthcare reform by the Chinese government helped increase shipments of ultrasound equipment into the country between 2009 and 2011, with low-end systems -- with an average selling price of less than $30,000 -- making low-cost healthcare available to rural regions. Combined with additional growth in premium and high-end equipment among large hospitals, China experienced revenue growth of 8% to 10% annually in its ultrasound sector.
By comparison, growth within the ultrasound market in the rest of the world is forecast to remain below 5% over the next five years, due primarily to poor economies across Europe.
