The high-end technologies of global medical monitor products are mainly mastered by the United States, Japan, Germany, the Netherlands and a few other western developed countries; and most of the developing countries which are represented by China, India and Brazil still take conventional medical monitoring technology as the development key point.
From the brand perspective, the key brands of global medical monitors are PHILIPS (Netherlands), GE (the United States) and Mindray (Shenzhen, China); the market share of these three enterprises occupy more than a half of the global market, and the market shows oligopoly pattern.
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China’s application of medical monitors started from the monitoring of cardiovascular diseases. At present, the medical monitors have been widely used for cardiovascular, respiratory, maternity, newborn, anesthesia and sleep monitoring. The single discipline has developed into multi-disease entities, multi-departments and multidisciplinary applications; and the applications also expanded to medium and small-scale hospitals from large-scale hospitals. Medical monitor is turning into a conventional method, and is expanding the application areas at a rapid rate.
China’s medical monitor market owns relatively high concentration ratio; there are about 70 medical monitor enterprises in China, of which, about ten of them have independent R&D capability. The domestic market can be divided into two plates: the first plate is represented by Philips, GE and Mindray; these enterprises own absolute advantage in the aspects of market share and turnover by virtue of strong capital strength, abundant medical devices variety and wide range of sales channels; the second plate is represented by Biolight and Creative, which focus on the development and marketing of medical monitors; they can meet the individual needs of different customers by virtue of unique technologies and products.
In 2012, the scale of China’s medical monitor market has reached CNY 3.01 billion; the popularizing rate has made substantial progress, and the popularizing rate in some developed cities and regions reached 25.4%.
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As for the service condition in current medical monitor market, the proportion of high-end products and conventional products is about 4:6. Taking technical update cycle into account, it is estimated that this proportion will remain relatively stable in the next five years. However, as for the long-term development, plug-in type monitor and other high-end products will become the mainstream with the further enhance of industry R&D capability and the further improvement of China’s medical security system.
Medical Tourism Market - Global Industry Size, Market Share, Trends, Analysis, And Forecasts, 2012 - 2018
A global surge of patient pool and healthcare professionals along with enhancement in medical technology has propelled the growth in the medical tourism market. Medical tourism is when the consumers opt to travel abroad to take advantage of some form of medical treatment at a more affordable price. Rise in the large number of uninsured population in developed countries like the U.S. and frail reimbursement policies has forced people in these regions to exploit cost effective methods of medical treatments. Even people with insurance policies have to pay out of their pockets for certain elective surgeries. The average waiting time for patients undergoing joint replacement, cataract surgery or CABG in Canada is approximately 253 days, 128 days and 71 days respectively. Thus, long waiting periods and out of pocket payments are compelling the patient population to seek treatment in countries providing cheaper and better healthcare facilities.
The global medical tourism market is estimated to grow with a CAGR of 9.5% from 2012 to 2018 owing to lower cost of treatment. Improved quality of care is also one of the essential factors for this shift. Superior infrastructure, better affordability, accessibility and easy availability of information through media, telecommunication and internet access has created huge interest from citizens of developed countries to explore medical tourism as a potential option for treatment of their diseases.
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