The market for diagnostic imaging in China includes MRI, CT, x-ray,
ultrasound, and nuclear medicine systems. The market is expected to grow in
the next 5 years due to an increase in government funding for health care in
China. The Chinese government is looking to minimize the large gap in health
care quality between rural and urban hospitals, so more funding will be
supplied to rural hospitals to adopt diagnostic imaging systems, which will
contribute heavily to the lower-end diagnostic imaging system segments.
Meanwhile, more affluent hospitals will replace their outdated systems with
higher-end or premium systems. Despite these purchases, price erosion will
occur due to heavy competition among domestic competitors, especially within
low-end systems. The majority of the market will be dominated by multinational
companies because of physician preference for high brand awareness in affluent
hospitals in order to attract wealthy patients. Overall, the market will
expand to over $2.5 billion by 2016.
METHODOLOGY
RESEARCH METHODOLOGY
This report uses a number of methodologies to gather and present data and
analysis. At the outset, a large survey of secondary sources is conducted.
These sources act as the basis for the primary research stage, which builds
and enhances the quantitative and qualitative attributes of the early research.
Secondary sources include:
government publications, such as documentation from securities
commissions, health care and statistical agencies, and regulatory and patent
authorities;
material provided by medical technology companies, including annual
reports, product brochures, and corporate profiles;
internal databases and reports, including previous reports on similar or
related topics; and
general Internet searches, medical literature, and newspaper and magazine
searches to identify various centers of specialization and articles that might
provide leads for primary research.
The secondary research stage builds the foundation for the primary research.
The primary research methodology has four steps:
Step 1: The first step involves an impartial scan of all the
information gathered during the secondary research stage to determine its
utility based on the specific requirements of this report. Each piece of
information is either discarded or marked as high- or low-priority and then
organized appropriately as determined by the structure and sectioning of the
report.
Step 2: At this stage, early assumptions are formed as to the
implications of the information for the various market segments. These
assumptions are then used to determine hypotheses using both inductive and
deductive approaches. On the quantitative front, these hypotheses result in
full historical and projected market data sets (market sizes - unit sales,
ASPs, and revenues - as well as market shares).
Step 3: At this stage, the research is in position for its most
important primary phase - expert interviews. Throughout the secondary research
phase, industry and medical experts are identified. These experts are then
contacted by telephone and asked to participate in interviews on recent trends
and developments in the industry. Interviews are either conducted at the time
of the initial call or scheduled at the convenience of the expert. Interview
questions are tailored to the expertise of each particular interviewee,
although in most cases, the most important questions are asked of all experts.
The questions are largely based on the assumptions and hypotheses developed in
Step 2, which are then augmented, discarded, or adjusted based on the views
and positions put forth. Attempts are made, whenever possible, to cross-check
the views of various experts against each other and to reach positions of
consensus on issues and market numbers.
In some cases, a sample of relevant physicians is surveyed or interviewed.
Physicians are asked to comment on various issues and trends, both in their
own practice and in the overall market. The responses provided are then used
to strengthen or augment the assumptions and hypotheses developed during the
primary research phase.
Step 4: The final stage of primary research involves individual and
group analysis by Millennium Research Group. All research results are assessed
and cross-checked thoroughly to determine their validity, relevance, and
weight. From this process, qualitative conclusions are reached and data points
finalized.
MARKETRACK METHODOLOGY
Millennium Research Group's Marketrack methodology involves recruiting
hospital personnel responsible for the management of medical equipment and
procedures to participate by providing procedure volumes, device usage data,
and brand-level pricing information on an ongoing basis. Hospital respondents
include facility managers, nurses, administrators, and physicians. Information
is generally collected on a quarterly basis and includes, but is not limited
to, numbers and types of procedures performed and devices used.
FORECAST METHODOLOGY
In addition to the research methodology outlined above, the following
"bottom-up" methodology is used to develop forecast assumptions for the report.
A comprehensive breakdown of various procedures and device unit sales is
prepared using data from several sources, including professional associations,
government statistics, and private research/media sources. Industry experts
and practitioners are consulted to ensure accuracy and verify observed trends.
As a cross-check, total industry revenues available through annual reports and
other sources are compared against modeled industry revenues.
Using the best estimates of industry experts, practitioners, private
research/media sources, and inhouse experts, year-by-year growth rates and
ASPs are applied individually to each subcategory to derive forecasts. These
estimates are cross-checked by industry experts (marketing managers, product
managers, company executives, etc.) and further refined.
Overall findings are compared against market and procedure forecasts published
by other sources to ensure reasonable estimates.
Companies mentioned in this report:
Agfa HealthCare
AllTech Medical Systems
Beijing Aerospace Zhongxing Medical Systems
Beijing Wandong Medical Equipment
Belson Imaging Technology
BK Medical
Carestream Health
Chengdu Well.D Vigorous Science&Technology
Chison Medical Imaging
Contec Medical Systems
Esaote
FUJIFILM Medical Systems
GE Healthcare
Hitachi Aloka Medical
Hitachi Medical Systems
iCRco
Konica Minolta Medical Imaging
Landwind Medical
Meditech Group
Mindray Medical International
Nanjing FoiNoe
Neusoft Medical Systems
NewTech Medical
Nihon Kohden
Ningbo Xingaoyi Magnetism
Philips Healthcare
Samsung Medison
Shantou Institute of Ultrasonic Instruments
Shenzhen Anke High-tech
Shenzhen Basda Medical Apparatus
Shenzhen Bondway Electronics
Shenzhen Well.D Medical Electronics
Shimadzu
Shinova Systems
Siemens Healthcare
Siemens Mindit Magnetic Resonance
SonoScape
SonoSite
Toshiba Medical Systems
Ultrasonix
Xuzhou Innovation Medical Instrument
Xuzhou Kaixin Electronic Instrument
Table of Contents
TABLE OF CONTENTS
LIST OF FIGURES AND TABLES
EXECUTIVE SUMMARY
1. COUNTRY OVERVIEW
1.1. Demographics and Economy
1.2. Health Care System
1.3. Regulatory Environment
1.4. Manufacturing and Distribution
2. CLINICAL LANDSCAPE
2.1. Procedure Descriptions
2.1.1. Magnetic Resonance Imaging Procedures
2.1.1.1. Head and Neck Magnetic Resonance Imaging
2.1.1.2. Spine Magnetic Resonance Imaging
2.1.1.3. Cardiovascular Magnetic Resonance Imaging
2.1.1.4. Breast Magnetic Resonance Imaging
2.1.1.5. Magnetic Resonance Angiography
2.1.1.6. Other Magnetic Resonance Imaging Procedures
