London, United Kingdom (PressExposure) September 28, 2011 -- The endoscopy devices market in the emerging economies of China, India and Brazil grew at a Compounded Annual Growth Rate (CAGR) of 4%, 3% and 3%. The endoscopy devices market in China is forecast to reach $107m in 2017. The main driver for the Chinese market is the continuing investment by the Chinese government in the rural health market. India and Brazil are forecast to have a market value of $65.3m and $64.9m in 2017. The market in India and Brazil is driven by the increasing patient population of people with gastrointestinal disorders. Local companies in emerging economies are set to compete with major players in these economies based on the pricing and cost effectiveness of their endoscopic products in the near future.
China is investing $124 billion in the healthcare sector starting from 2011, according to the healthcare reform plan passed there in 2009. The money will be spent on building hospitals, improving rural infrastructure facilities and providing basic medical insurance to all Chinese citizens. This has given rise to a thriving hospital construction market within China. The fact that 80% of hospitals in China need to be rebuilt also strengthens the potential of this market. The government is also encouraging Sino (Chinese) - foreign joint ventures, privatization of public hospitals and the outsourcing of hospital management and logistic services to encourage growth in the hospital sector. Although the investment of foreign companies in Chinese hospitals is limited to 70%, there has been an increasing number of foreign investments seen in the hospital sector.
As the Chinese Ministry of Health aims to spend a total ofCNY100 billion for the completion of these building projects, the remaining CNY60 billion of the budget is to be spent by the end of 2013. As a high proportion of this budget could be spent on the purchasing of medical equipment in the later building stage, not less than 50% of the remaining CNY60 billion could be spent on purchasing of medical equipment in 2011-2013. Compared with the domestic medical equipment industrial output value of CNY93 billion in 2009, the contribution of domestic market should be significant to drive market growth.
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GBI Research's report, "Endoscopy Devices Market in Emerging Economies (India, China, Brazil) - Growing Investments In Hospitals To Be The Major Growth Driver" provides key data, information and analysis on the endoscopy devices markets in the world's emerging markets. The report provides market landscape, competitive landscape and market trends information on seven endoscopy devices market categories - Flexible Endoscopes, Rigid Endoscopes, Endoscopy Fluid Management Systems, Endoscopy Visualization Systems, Endoscopic Instruments, Capsule Endoscope Systems and Endoscopic Reprocessors. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape and provides a detailed analysis of the endoscopic market. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research's team of industry experts.
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