The expanding medical imaging sector is experiencing rapid innovations, which has increased profits and thereby, improved the sector’s growth rates and attracted investments. Cyclically, the inflow of funds has led to the development of high-quality and high-tech medical instruments and equipment at affordable prices.
So far, Brazil Russia, India and China (BRIC) have demonstrated the highest willingness to deploy new medical device technologies.
New analysis from Frost & Sullivan’s (technicalinsights.frost.com) Top Medical Devices and Imaging Technologies 2011 research finds that the medical imaging sector is a growing one, with many innovations emerging at a fast pace. The major growth drivers for the diagnostic imaging sector in the future are expected to be portability, miniaturization, digitization, hybrid imaging, and use of safe and non-ionizing imaging modalities such as optical, ultrasound, and mobile health delivery aids such as smart pills.
If you are interested in more information on this study, please send an email to Britni Myers, Corporate Communications, at britni.myers[.]frost.com, with your full name, company name, title, telephone number, company email address, company Website, city, state and country.
Medical device and imaging technology companies have directed their research and development efforts at creating low-cost, low-power, ergonomic medical devices that require little maintenance and are relatively low risk. New-age medical devices are expected to standardize medical infrastructure all over the world, so that the imbalance in the availability of quality medical treatment in developed and developing countries will be narrowed.
"These medical devices will also be less invasive and easier to use, and will improve the quality of life at low costs," said Technical Insights Industry Analyst Saju John Mathew. "However, developing countries still lack initiatives in optimizing medical technology and product delivery."
Notwithstanding that, developing countries, with their higher demand for healthcare services, are increasingly drawing the attention of the diagnostic imaging industry, which is one of the largest sectors of the healthcare industry globally.
While the developed markets of the United States and Europe have been battling challenges arising out of shrinking hospital budgets and dwindling reimbursements, booming health economies and increasing awareness in emerging countries such as India and China in the Asia Pacific are offsetting this slowdown.
"Consequently, the major focus in these regions is eventually going to be the construction of new hospitals in the public and private sectors and procurement of advanced imaging equipment over the decade," said Technical Insights Industry Analyst Sangeetha Prabakar. "On the other hand, the developed markets will be focusing on new technologies that are both efficient and cost effective for hospitals and healthcare providers facing a financial crunch."
While industry majors still consider the United States and Europe key markets, they are also looking forward to exploring the potential of Brazil, India, China and Mexico as investment hubs and revenue generators in the coming years.
Frequent delays in product approval and market entry in developed countries have led medical device firms to look for alternative geographical markets for gathering clinical data, obtaining new product approvals and generating initial revenues. With a rise in this trend, the consumers of developed nations, who have long been the initial beneficiaries of new medical technology innovations, may eventually end up being the late users.
Europe has already become the prime market of entry for innovative technologies. By the end of the decade, emerging countries are more likely to witness prior product launches before their launch in the developed markets. Thus, the future of the global medical imaging industry looks promising in terms of low costs, higher throughput and safety of upcoming technologies with increasing demand from emerging markets.
Top Medical Devices and Imaging Technologies 2011, a part of the Technical Insights subscription, highlights some of the high-impact medical device and imaging technologies that will bring change into the medical environment in the next few years. The study also acknowledges the Mega Trends that will evolve and define the medical landscape in the near future. One part of the research discusses the technologies and products that are evolving rapidly with innovations to cater to a wide range of pathologies and environments; and the other part analyzes the medical imaging scenario, which is witnessing a spurt in innovations. Further, this research service includes detailed technology analysis and industry trends evaluated following extensive interviews with market participants.
Frost & Sullivan’s Technical Insights research group is an international technology analysis business that produces a variety of technical news alerts, newsletters and research services.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.
Top Medical Devices and Imaging Technologies 2011 / D29C