Competitive Pricing Vital in the Asia-Pacific Digital and Computed Radiography Market, Finds Frost & Sullivan
KUALA LUMPUR, Malaysia, March 26, 2013 /PRNewswire/ -- Healthcare delivery and service markets in Asia-Pacific are increasingly focusing on radiography systems that bundle the benefits of reduced radiation, seamless workflow, safety measures, and attractive pricing. This has opened up opportunities for digital radiography (DR) and computed radiography (CR) vendors and encouraged participants to innovate digital technologies.
New analysis from Frost & Sullivan (http://www.medtech.frost.com ), Asia Pacific Digital and Computed Radiography Market Assessment, finds that the market earned revenues is estimated to reach US$776.5 million in 2017.
Asia-Pacific accounts for more than 60 percent of the world's population, which translates to a wider patient pool and increased procedure volume. Further, most countries in this region are positioning themselves as medical tourism destinations. This will prompt healthcare providers to adopt DR and CR for their significant benefits of high throughput, higher-resolution diagnostic images and improved patient comfort.
"The Asia-Pacific has traditionally been a cost-sensitive market. The presence of several domestic manufacturers and the region's low production costs ensure that the products are competitively priced," said Frost & Sullivan Healthcare Consultant Poornima Srinivasan. "Countries such as China, Malaysia, Thailand and Indonesia are particularly lucrative markets for DR and CR."
The two technologies reduce recurring costs towards film, cassettes and chemicals by eliminating the need to develop x-rays, which, in turn, lowers the negative impact on the environment. It also has features for capturing and processing images at a speed of 10 to 20 seconds. However, Hospitals take longer to decide on purchases, as it involves considerable investment and justification for demonstrable return on investment.
"Partnering with local vendors that manufacture radiology-oriented or picture archiving communication system network will help improve market penetration," noted Srinivasan. "As the Asia-Pacific market focuses on providing quality healthcare comparable with developed countries, offering innovative and affordable products appear to be the best way ahead."
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