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Burgeoning Healthcare Sector Offers Vast Potential for the Medical Imaging Markets in Taiwan - Taiwan’s expanding aging population is one of the primary drivers for its medical imaging markets
Burgeoning Healthcare Sector Offers Vast Potential for the Medical Imaging Markets in Taiwan

 

NewswireToday - /newswire/ - Singapore, Singapore, 2008/10/06 - Taiwan’s expanding aging population is one of the primary drivers for its medical imaging markets.

   
 
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The healthcare system in Taiwan is one of the most advanced in the Asian region, and the imaging sector has witnessed massive evolution, particularly in the radiography segment. Computed radiography (CR) technology has reached a state of maturity, while the digital radiography (DR) and computer aided diagnosis (CAD) markets are currently in the growth stage.

“According to WHO (World Health Organization) Taiwan with 9.97 percent of its population above 65 years old, is indeed an ageing society, and it is estimated that, by 2012, Taiwan will have 10.8 percent of its population aged above 65 years,” says Frost & Sullivan Industry Analyst Jennifer Lau. “This population segment is at high risk for old age-related diseases, which need various medical investigations that involve medical imaging, specifically X-ray generators.”

Significant advances in digital imaging have considerably expedited diagnostic procedures and improved the level of patient care in Taiwan. Digital imaging has percolated to a wide spectrum of healthcare facilities, ranging from medical centers to smaller city and country hospitals. Efforts are underway to increase the number of healthcare facilities as well as healthcare providers, including physicians and nurses.

In the wake of the Food and Drug Administration’s (FDA) approval of CAD as the standard procedure for breast cancer screening, this technology is expected to see widespread adoption. CAD is expected to be the most sought-after technology in Taiwan, as healthcare providers compete to offer the best service to patients. Currently, acceptance levels of CAD remain low, as radiologists lack familiarity with the system. The role of CAD is slated to expand once its applications extend into chest, lung, brain diagnosis, and breast magnetic resonance imaging (MRI).

The most obvious advantage of CAD is its ability to help in detecting even micro calcification structure changes of the patient, used mostly to compare recent and previous images taken from the same patient. The market for CAD is highly potent, offering huge opportunities for participants.

Though CR technology is mature, smaller hospitals offer huge potential, as trends indicate a clear gravitation toward total electronic medical records for healthcare. Although CR provides cost-effective digital imaging, the demand for higher quality imaging and shorter acquisition time has impeded the growth of CR in tier one and tier two hospitals.

Healthcare delivery is becoming increasingly challenging and radiographers and radiologists are opting for DR systems, which offer higher image resolutions and wider range of contrast detectability. Besides, the introduction of retrofit DR, which provides direct DR at a reasonable cost, has curtailed growth in the CR sector. However, CR has one distinct advantage over DR technology. The mobility of the system renders it highly suitable for high traffic areas of the hospital, such as intensive care units (ICUs), accident and emergency rooms, and operating rooms (ORs).

“CR has the advantage of being a cost-effective option for the hospital; however, it is facing competition from emerging DR technology, which offers better image quality and higher efficiency,” explains Lau. “DR manufacturers need to improve its mobility by designing more portable systems in order to tap into the ICU and operation theater markets.”

Digital imaging technologies have found wide acceptance in the healthcare landscape of Taiwan. As the benefits of digital imaging became increasingly apparent, the initial resistance to this technology was overcome. The need to cope with the medical needs of the growing ageing society has opened up new vistas for market participants offering solutions in the imaging space.

New analysis from Frost & Sullivan (medicalimaging.frost.com), The Taiwanese Digital Radiography, Computed Radiography and Computer Aided Diagnosis Markets, finds that the market earned revenues of over $39.1 million 2007 and estimates this to reach $165 million in 2014.

The Taiwanese Digital Radiography, Computed Radiography and Computer Aided Diagnosis Markets is part of the Medical Imaging Growth Partnership Service program, which also includes research in the following markets: Australian cardiology PACS markets, medical imaging equipment services markets in Europe, strategic assessment - Asian industry participants penetration within the Latin American medical equipment segment and North American breast imaging markets. All research services 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.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the DR, CR and CAD medical imaging markets in Taiwan, then send an email to Jasminder Kaur, Corporate Communications, at jkaur[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

The Taiwanese Digital Radiography, Computed Radiography and Computer Aided Diagnosis Markets
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About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership 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.

 
 
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Burgeoning Healthcare Sector Offers Vast Potential for the Medical Imaging Markets in Taiwan

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