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Governments Investing in Healthcare Vital to Fuel ASEAN Ultrasound Market

By MedImaging International staff writers
Posted on 23 Dec 2013
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The ultrasound imaging equipment market in the Association of Southeast Asian Nations (ASEAN) region is primed to rise by close to 45% between 2012 and 2017, fueled by increasing government investment to improve healthcare infrastructure and strategies to provide universal healthcare to the population, according to recent market research.

Ultrasound revenue in the 10-nation bloc forming the ASEAN is projected to climb to nearly USD 230 million in 2017, according to a recent report from IHS, Inc. (Englewood, CO, USA), a market research company. Revenue is forecast to be up from approximately USD 160 million in 2012.

Growth of the ultrasound market in ASEAN is due in part to government efforts in many countries there putting greater importance on broadening healthcare insurance coverage to the region’s citizens, to ensure that they have access to basic healthcare services. For example, Indonesia’s objective is to provide universal healthcare by 2019, whereas Vietnam is trying to expand health insurance coverage to 70% of its population by 2015.

As a consequence of these actions, demand for better-equipped and higher-quality healthcare infrastructure is expected to rise within ASEAN. At the same time, new problems could arise. “As the governments in ASEAN extend national healthcare insurance in their jurisdictions, a country’s current healthcare system may struggle to cope with the increased demand coming from the large number of new patients,” said Carly Reed, senior analyst for medical imaging research at IHS. “Therefore, it will be essential for the ASEAN governments to invest in new and upgraded medical imaging systems, including ultrasound, to better equip public-sector hospitals.”

Healthcare investment in ASEAN has customarily focused on large cities in the region, such as Manila in the Philippines and in Indonesia’s Jakarta. But with the new initiative, need for improved healthcare services and medical equipment will now be strongest from those living in the rural areas. Here, cost-effective ultrasound systems will be vital in broadening diagnostic imaging services to smaller hospitals and clinics where budgets are limited. Portable equipment will also be essential in the countryside, where physicians may have to travel long distances between communities and households to provide care, Ms. Reed noted.

Because of increased government financing and the growing number of patients entering the public healthcare system, the private sector in ASEAN is also forecast to experience greater demand. For those able to afford the expense, switching to the private sector could prove an appealing option because of the decrease in waiting times and access to higher-quality services typical of benefits in the private market. In turn, such a development will drive growth for higher-specification ultrasound equipment as competition intensifies among private providers to draw new patients and increase medical tourism prospects.

Healthcare expenditure overall in much of ASEAN is still far below the levels seen in mature healthcare markets. As such, government investment in healthcare will continue to play a pivotal role in the growth of the ASEAN ultrasound market for the foreseeable future, according to IHS spokespersons.

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