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Medical Imaging Market in South Africa Developing Through Continuing Technical Innovations - South Africa is gaining importance as a regional hub for the export of medical imaging devices and related services
Medical Imaging Market in South Africa Developing Through Continuing Technical Innovations

 

NewswireToday - /newswire/ - Cape Town, South Africa, 2008/03/03 - South Africa is gaining importance as a regional hub for the export of medical imaging devices and related services.

   
 
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Technological innovations accelerating the replacement rate of existing devices, together with new low-priced entrants from Eastern Europe and Asia, are expanding the size of the South African market.

New analysis from growth consulting company Frost & Sullivan (medicalimaging.frost.com), South African Medical Imaging Market, finds that the market earned revenues of $578.7 million in 2006 and estimates this to reach $1,431.2 million in 2012.

"Medical imaging devices last for eight to 15 years, which has allowed incumbent manufacturers and distributors to maintain their market share through brand awareness and value-added services," comments Frost & Sullivan Research Analyst Gavin Chait. "Product innovations, though, are emerging at a tremendous pace and many companies are choosing to upgrade more frequently to keep up."

This imperative has increased the costs for clinics and presented an opportunity for new manufacturers offering near-current technology at lower prices. It has also allowed new types of customers to emerge who would always have wanted such devices but could not afford them in the past.

"Over the short term, this situation will result in a fragmentation of the current medical imaging device market: top-tier purchasers will concentrate resources on preferred suppliers to reduce risk, mid-tier consumers will diversify between existing and emerging device producers and new market entrants will be attracted by low-priced devices," says Chait. "Over the long term, new market entrants will seek out higher-end devices and become potential customers to established brands."

The primary tier of familiar brands (GE, Philips, Siemens, Toshiba) often utilise the services of original equipment manufacturers (OEMs) to build to their specifications in low-cost hubs in Asia and Eastern Europe. Many of these OEM companies are now also releasing products under their own brands based on design and manufacturing experience gained while performing such work.

These companies are part of a small, but rapidly expanding, secondary tier of devices. Some, like Shimadzu (in X-ray devices) and Medison (in ultrasound), have already gained substantial market trust and are now part of the mainstream.

"Devices which have a functional lifespan of eight to 15 years are becoming technically obsolete within five, having an impact on both manufacturers and consumers," cautions Chait. "Manufacturers find that, for a year or two after a critical innovation, they are able to dominate their market sector, before being squeezed out by a competitor who leapfrogs them."

For instance, medical practitioners are finding that 3D imaging has become the de facto standard. Patients are demanding better imaging (especially in ultrasound), and the improving level of patient care possible with better products is boosting sales.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the investment analysis and growth opportunities in the South African Medical Imaging Market, then send an email to Patrick Cairns, Corporate Communications, at patrick.cairns[.]frost.com, with your full name, company name, title, telephone number, fax number, and email address. Upon receipt of the above information, an overview will be sent to you by email.

Competitive Dynamics in the South African Medical Imaging Market is part of Medical Imaging Growth Partnership Services Programme, which also includes research in the following markets: Strategic Assessment of the Healthcare Industry in Key Sub-Saharan African Countries, Global Medical Imaging Markets and EMEA Medical Imaging Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

Competitive Dynamics in the South African Medical Imaging Market
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Medical Imaging Market in South Africa Developing Through Continuing Technical Innovations

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Publisher Contact: Patrick Cairns 
+27 83 258 4219 patrick.cairns[.]frost.com
 
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