ASEAN ultrasound market to grow 45% by 2017

2013 10 16 09 09 31 277 2013 10 16 Asean

The ultrasound imaging equipment market in the Association of Southeast Asian Nations (ASEAN) region is set to increase by nearly 45% between 2012 and 2017.

That's according to a new report by market research firm IHS, which found that ultrasound revenue in the 10-nation bloc forming the Association of Southeast Asian Nations is projected to climb to nearly $230 million U.S. (170 million euros) in 2017, up from approximately $160 million U.S. (118 million euros) in 2012. ASEAN was founded in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand; it now includes Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam.

Source: IHS.Source: IHS.
Source: IHS.

Growth will be driven by increasing government investment in these nations to improve medical infrastructure and to provide universal healthcare, IHS said. For example, Indonesia aims to provide universal healthcare by 2019, while Vietnam seeks to broaden health insurance coverage to 70% of its population by 2015.

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