Over the next five years, strong demand will drive steady growth in the Chinese ultrasound market, which will expand beyond hospital use, concluded a new report from market evaluation firm IHS.
Behind the expected growth is China's healthcare 2012 reform plan, which calls for widespread replacement of existing ultrasound systems in tier III urban hospitals, as well as the construction of large numbers of tier II hospitals that will be equipped with the technology, IHS said.
As a result, revenue for ultrasound equipment in China is expected to top $1.5 billion by 2017, up 65% from $908.8 million in 2012, the company said. This year will be particularly consequential as the industry tops the $1 billion threshold, with expected growth expected to rise rapidly thereafter.
The product mix will also shift, IHS said. Previous health reform programs in China were mostly aimed at equipping rural centers with the most basic equipment, but the new plan aims to improve these services with higher-end scanners, leading to expected revenue growth between 15% and 25% annually.
In line with trends in most of the rest of the world, China over the next five years will also begin installing ultrasound in several departments, rather than a single ultrasound department, according to the report.
