Chinese Ultrasound Market Forecast to Expand 143% by 2019

A rising patient population and healthcare reforms will cause the ultrasound market in China market to more than double by 2019, according to the latest healthcare market research.

A recent report from healthcare business analysts GBI Research (New York, NY, USA) predicts the country’s ultrasound system’s market revenue to rise from USD 702 million in 2012 to a little over USD 1.7 billion in 2019—representing a compound annual growth rate (CAGR) of 14%.

GBI Research expects the United States to remain the industry’s top market share holder over the forecast period, with an expected market value exceeding USD 2.1 billion in 2019, but China’s more impressive growth rate makes the rapidly expanding Asian nation one to watch.

Healthcare reforms initiated by the Chinese government in 2009 have been shown to be a key market driver, resulting in a strong increase in ultrasounds systems revenue in recent years. GBI Research’s new report states that the market will continue to grow in the conceivable future due to many contributing factors, including rising patient numbers, more cost-effective, and widely available healthcare, and recent developments in ultrasound technology.

The global market revenue is forecast to increase at a CAGR of 7% between 2012 and 2019, from USD 4.6 billion to USD 7.3 billion. A major driver is the continued employment of ultrasound as the healthcare sector’s preferred diagnostic application, with the development of portable units and lower costs additionally strengthening this position.

While CT and MRI machines can cost millions, the approximate price of an ultrasound system is USD 150,000—a substantial benefit for countries with limited budgets and those looking to cut the enormous burden of healthcare spending.

GBI Research is a provider of business intelligence reports, providing data and forecasts based on the insights of key industry leaders.

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