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Market Research Report : MRI Equipment Market in India 2011


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Magnetic Resonance Imaging (MRI), a medical imaging technology, is used in radiology to visualize detailed internal structures of tissues, bones or any other part of the body. It can be used to detect neurological, musculoskeletal, cardiovascular and oncological problems. MRI equipments require a huge installation cost, and consequently, the service charge becomes very high. The Indian MRI market is characterized by a large number of foreign players with only a handful of local manufacturers and is largely dependent on imports. The growth in aging population along with an increase in medical tourism is offering strong opportunities. The Indian Government, on its part is taking initiatives to engage in public-private partnership projects (PPP) and reduce the import duties on medical equipments. The market is expected to exhibit steady growth over the next few years.

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Market Research Report : MRI Equipment Market in India 2011

  1. 1. Insert Cover Image using Slide Master View Do not distortMRI Equipment Market – India MRI Equipment Market IndiaJuly 2011
  2. 2. Executive Summary  MRI equipment market in India is valued at INR x bn and is growing at y% CAGR  Huge installation cost accounts for high service charges  Market  Indian MRI equipment market is expected to grow at a CAGR of z% from 20‐‐ ‐ ‐‐e Drivers: Challenges:  Heavy patient flow  High maintenance cost Drivers &   Increase in insurances  Lack of expertise  Challenges  Increased healthcare spending Increased healthcare spending   Lack of affordability Lack of affordability by the Government  Medical tourism  PPP projects p jGovernment   Reduction in import duties Initiatives  Government health insurance schemes  Majority of players in the MRI equipment industry are foreign companies with distributors in  India  Major players include Company 1, Company 2 and Company 3Competition  Handful of local manufacturers in the market include Company 4, Company 5 and Company 6 MRI  EQUIPMENT MARKET IN INDIA 2011.PPT 2
  3. 3. •Introduction I d i•Market Overview•Drivers & Challenges•Government Initiatives Government Initiatives•Technological Developments•Competition C titi MRI  EQUIPMENT MARKET IN INDIA 2011.PPT 3
  4. 4. Indian MRI market has witnessed strong growth over the  last few years Indian MRI Market – Overview   Market Size and Growth • Indian market is expected to witness significant  INR bn growth due to increased healthcare spending 8 y% zz • Witnessed a growth of x%  from 20‐‐ to 20‐‐ 6 yy • Huge installation cost of MRI equipment, minimum  ww xx 4 being INR y mn 2 • Consequently high service charges, as high as INR z  for a single scan 0 2007 2008 2009 2010 • Dominated by foreign players with only a handful of  local manufacturers Market Segmentation (20‐‐) • Market is witnessing entry of some Country 1  c% Segment 1 players b% Segment 2 Segment 3 a%Source: MRI  EQUIPMENT MARKET IN INDIA 2011.PPT 4
  5. 5. Indian MRI markets is heavily dependant on imports  specially from Country 1 Imports of MRI equipments ‐Overview Total Imports   •Imports come from technologically advanced  INR bn countries including Country 1, Country 2,  4,000 y% i5 i4 Country 3 and Country 4 3,000 i3 •Country 1 accounts for the largest share 2,000 i2 i1 •Reduction in import duties  has increased  1,000 volume of  imports over the last few years volume of imports over the last few years 0 2005‐06 2006‐07 2007‐08 2008‐09 2009‐10 Imports – Region wise (2008‐09) Imports – Region wise (2009‐10) I6I7 Country 1 E7 Country 1 I5 Country 2 E6 E1 Country 2 I1 I4 Country 3 E5 Country 3 Country 4 E4 Country 4 Country 5 Country 5 Country 6 E3 Country 6 I3 Others Others E2 I2Source: MRI  EQUIPMENT MARKET IN INDIA 2011.PPT 5
  6. 6. Drivers & Challenges – Summary  Challenges Drivers High maintainence cost Heavy patient flow Lack of expertise  Increase in insurances  Lack of affordability Increased healthcare spending Medical tourism 6
  7. 7. Government Initiatives – Summary  Public Private Partnership (PPP)  Projects j Government Initiatives I iti ti Government Health Insurance  Reduction in import duties on  Schemes S h medical equipments di l i t MRI  EQUIPMENT MARKET IN INDIA 2011.PPT 7
  8. 8. Major Domestic Players in the Market (1/4) Company Snapshot: Company 1Corporate Information (Domestic) Financial Performance (Domestic) Revenue Revenue Profit Headquarters H d t City 1, Country 1 Cit 1 C t 1 INR bn INR bn Profit / Loss r1 r2 r3 r4 Founded 19‐‐ 100 30 20 Products  Product 1, Product 2 and Product 3 50 10 Key People Person X – Chairman  0 0 2007 2008 2009 2010 Business Highlights Business Highlights • Operates through three segments – Segment 1, Segment 2 and Segment 3 • The first molecular biomarker imaging facility was opened in City 2, Country 1 • The diagnostic  imaging department produces  a wide range of solutions in angiography, computed tomography  oncology care ,radiography and surgery systems • Siemens produces a vast range of refurbished systems of Product 1 and Product 2 • MRI products include Product 1, Product 2 and Product 3 • Product 4 is the latest refurbished MRISource: MRI  EQUIPMENT MARKET IN INDIA 2011.PPT 8
  9. 9. Thank you for the attentionThe MRI equipment Market ‐ India report is part of Netscribes’ Healthcare Industry Series. For more detailed information or customized research requirements please contact:Gaurav KumarPhone: +91 33 4064 6214E‐Mail: gaurav.kumar@netscribes.comResearch on India is a product of Netscribes (India) Pvt. Ltd. Research on India is dedicated to disseminating information and providing quick Research on India is a product of Netscribes (India) Pvt Ltd Research on India is dedicated to disseminating information and providing quickinsights on “hot” industries in India and other emerging markets. Track our new releases and major updates in these industries onAbout NetscribesNetscribes is a knowledge‐consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment &  g g f g p y p p fbusiness research, business & corporate intelligence, content‐management services, and knowledge‐software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes is a one‐stop shop designed to fulfil clients’ profitability and growth objectives.Disclaimer: This report is published for general information only. Although high standards have been used the preparation, Research on India, Disclaimer: This report is published for general information only Although high standards have been used the preparation Research on IndiaNetscribes (India) Pvt. Ltd. or “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes (India) Pvt. Ltd. and prior permission is required for guidelines on reproduction. MRI  EQUIPMENT MARKET IN INDIA 2011.PPT 9