Date: 01/06/2010

Global ultrasound market is worth $4.9 billion

InMedica in its new report titled "The World Market for Ultrasound Imaging Equipment - 2010 Edition" has reported in 2009 the global market for ultrasound imaging equipment was estimated to be worth $4.9 billion; 6% less than in 2008.

Report states impeded by factors such as healthcare spending cuts and postponed equipment purchasing in Western Europe and North America, market recovery in these developed regions will be slow. Continued economic uncertainty in Europe and further expected public health cuts will continue to hinder equipment purchasing, preventing a return to growth until 2011.

In contrast, strong growth in the developing markets of the Asia Pacific region has offset decline in other developed regions. Stephen Holloway, Research Analyst at InMedica commented "these markets have bounced straight back from the economic downturn, with increasing demand for ultrasound systems in 2009 a result of greater investment in healthcare services. Demand for ultrasound systems in China, India and South East Asia cushioned the blow dealt by the economic crisis to the world market, and will continue to drive future market growth. Consequently, the Asia Pacific region is forecast to become the largest major world market by 2011."

InMedica report also says the Chinese market has seen tremendous growth over the last two years. Driven by China's ongoing healthcare reform, strong economic growth and the Chinese population's increasing awareness of healthcare issues, the second edition of InMedica's study "The China Market for Ultrasound Imaging Equipment - 2010 Edition" predicts that the Chinese market for ultrasound imaging equipment will exceed $1 billion by 2014, growing at a CAGR of 9.3%.