The market for surgical and cardiology equipment is growing
The total market size of imported cardiology and surgical equipment in 2001 was 89 million, $ 60 million in cardiology equipment and $ 29 million in surgical equipment. Team cardiology special procedures represents the largest segment produces faster growth, according to “The U.S. market for diagnostic radiology equipment.”
Local production, which consists of equipment and accessories, was valued at $ 3 million, two thirds are exported to different parts of the world. Imports accounted for 99% of total cardiology and surgical equipment, while local production is an insignificant 1%. The annual growth over the next three years will be 5 to 10 percent. The factors that influence demand are hospital expansion and modernization project of the Department of Health and population growth.
U.S. Suppliers medical products are strong in this sector, and U.S. products enjoy a good reputation with Filipino doctors who prefer U.S. medical equipment and supplies. Any U.S. supplier interested in the local market should appoint a local distributor. Products that have high sales potential for U.S. suppliers are of high value and low volume, high technology, such as electrocardiographs, dialysis machines, ultrasonic therapeutic appliances and pacemakers.
What are the causes of market growth?
One reason for growth in cardiology procedures, special equipment is the dramatic increase in preventive procedures such as angioplasty and the resulting increase in angiography procedures, the report said. More cardiologists also have become experts in performing interventional procedures.