Ultrasound Systems Market in India Projected to Grow

It is forecast to grow at a compound annual growth rate (CAGR) of 13% over the next seven years to reach $250 million in 2015, according to a recent market report. During this period, the market is expected to be driven by a rapidly developing healthcare infrastructure in rural India and the increasing use of portable ultrasound systems in new applications such as critical care and vascular surgery.

GE Healthcare (Chalfont St. Giles, UK) leads the ultrasound systems market in India with a 33% market share in terms of revenue. GE maintains its leadership largely due to its broad product pricing range. GE's sales efforts are equally focused on both its high-end and low-end systems. The company keeps gaining market share in terms of units due to its large customer base that buys low-end systems. Philips Healthcare (Best, The Netherlands), Siemens Healthcare (Erlangen, Germany), and Toshiba Medical (Tokyo, Japan) follow GE with a combined share of 39%. These companies rely on brand loyalty and extended service contracts for their customers. Other companies include Hitachi (Tokyo, Japan), Esaote (Genova, Italy), Larsen & Toubro (L&T; Mumbai, India), Sonosite (Bothell, WA, USA), and Mindray Medical (Shenzhen, China).

The demand for miniaturization of ultrasound systems, improved handling of the devices, a decreasing price trend, and the use of ultrasound as a primary screening method for breast cancer will be the key factors influencing and driving the volume of ultrasound procedures in India. Product innovations such as decreased boost up times, increased battery backup, and stronger service contracts and warranties for probes will positively affect the future market penetration of ultrasound systems.

High import duties and the misinterpretation of the prenatal diagnostics techniques (PNDT) Act will remain the challenges faced by the ultrasound systems market in India, according to the report analysts. However, with a booming population, an increased awareness of the advantages offered by portable color ultrasound systems, and an ever increasing number of radiologists and physicians, India will continue to present growth and investment opportunities for ultrasound manufacturers in the future, the analysts reported.

The market report was published by Bharat Book Bureau (Navi Mumbai, India). Bharat Book Bureau, a market research information aggregator, provides reports, company profiles, newsletters, country information, and online databases to corporate, consulting firms, academic institutions, government departments, and agencies, globally, including India.

Related Links:
Bharat Book Bureau