Introduction: Why Emerging Markets are Driving Growth in Ultrasound Device Adoption
Consider a pregnant woman in a remote village in the sub-Saharan region or rural India. She is many hours away from the hospital. The roads are poor. Local clinics have no specialist, no MRI, no CT scanner. What she increasingly has access to is a small, handheld device which will tell the midwife if the baby is in the right position, if there are complications, if the woman needs urgent medical attention. What she has access to is the ultrasound machine, which is changing the face of healthcare in the most disadvantaged parts of the world. The global ultrasound market is no longer just the high-end hospital in London or New York. It is being rewritten by the needs, challenges, aspirations of the emerging economies.
Overview of Ultrasound Technology Accessibility: Cost-Effectiveness, Portability, and Versatility in Medical Imaging
Ultrasound has always had a functional advantage over its imaging cousins. It has never required any radiation, nor has it necessitated any expensive and cumbersome infrastructure. With the advent of portable ultrasound machines, this advantage has become even more pronounced. A doctor can literally carry one in their coat pocket. They are battery-powered, wirelessly connected, and deliver image quality that is comparable to their cart-based cousins. For emerging markets, this is not a luxury; it is a lifeline. A single ultrasound can be used for obstetrics in the morning, cardiology in the afternoon, and trauma at night.
Role of Ultrasound in Expanding Healthcare Access: Early Diagnosis, Maternal Care, and Point-of-Care Applications
Take, for instance, the case described in a seminal article in the Harvard Business Review on GE Healthcare's foray into the emerging markets segment. Because the clinics in rural China could not afford the conventional ultrasound technology, a local GE team came up with a PC-based ultrasound device that was portable and cost a fraction of the original product. That product, meant for the emerging markets, has since found its way into American emergency rooms!
(Source: Harvard Business Review, "How GE Is Disrupting Itself," October 2009)
Key Drivers Accelerating Adoption: Improving Healthcare Infrastructure, Rising Disease Burden, and Government Healthcare Initiatives
Several factors are coming together to drive the adoption of the use of ultrasound in Asia Pacific, Latin America, Africa, and the Middle East. First and foremost, there is significant investment in healthcare infrastructure in the region. This includes the building of clinics and the training of community health workers. In addition, there are screening programs for various chronic conditions in the region. Another factor is the significant rise in the burden of illness in the region. This includes cardiovascular conditions, cancer, and issues relating to maternal health. Lastly, there is funding being directed towards diagnostic tools that can be used in low-resource settings. In all of the above areas, the use of ultrasound excels.
Industry Landscape: Role of Healthcare Providers, Medical Device Manufacturers, Public Health Organizations, and Diagnostic Centers
The ecosystem for the adoption of ultrasound technology in emerging markets is vast and diverse. Leading medical equipment makers like GE HealthCare, Philips, Siemens Healthineers, and Mindray are designing and pricing these technologies for emerging markets – not as an afterthought, but as a key priority. Emerging markets are also seeing more local players, especially in countries like China and India, making medical equipment at competitive prices to meet local needs. Healthcare providers, ranging from large healthcare networks to small clinics, are the ultimate users of ultrasound equipment, with support from public healthcare initiatives in some cases. Diagnostic centers are also a key market for ultrasound equipment, especially in urban and peri-urban areas in emerging markets.
