The market for diagnostic ultrasound in China will grow 7.1% annually between 2012 and 2019, while the ultrasound market in India will grow 9.6% annually over the same time period, albeit from a smaller base.
That's according to a new market research report by GlobalData, which projects that ultrasound revenue in China will jump from an estimated $833 million U.S. ($609 million euros) in 2012 to $1.3 billion ($1 billion euros) by 2019. Over the same period, the value of the ultrasound market in India will increase from $101 million (74 million euros) to $192 million (140 million euros).
Growth will be driven by sales of more compact systems that will improve access to healthcare, even in the more remote areas of these price-sensitive economies, according to GlobalData. Increasing household income and demand for better-quality healthcare in both countries will fuel growth in the use of ultrasound imaging.
On the other hand, the report projects a decline in the average selling price of ultrasound scanners in China over the forecast period. And in India, a major challenge continues to be price wars that break out between local and multinational manufacturers. India is also difficult to penetrate in the absence of proper regulatory guidelines, the report states.
