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Cardiology and Surgical Equipment

U.S. surgical & cardiology suppliers manufacture medical equipment such as electrocardiographs, dialysis machines, ultrasonic therapeutic appliances and pacemakers for hospitals.

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. Cardiology special procedures equipment represents the largest and fastest growing product segment, according to "The U.S. Market for Diagnostic Radiology Equipment."

Local production, which consists of equipment parts and accessories, was valued at $3 million, two-thirds of which were exported to various parts of the world. Imports accounted for 99% of total cardiology and surgical equipment, while local production is an insignificant 1%. Annual growth in the next three years will be from 5 to 10 percent. Factors that influence demand are hospital expansion and upgrading, Department of Health projects, and population growth.

American medical product suppliers 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 present high sales potential for U.S. suppliers are high-value, low-volume, and high-tech products like electrocardiographs, dialysis machines, ultrasonic therapeutic appliances and pacemakers.

What are the causes of the growing market?

One reason for the growth in cardiology special procedures equipment is the dramatic increase in preventative procedures, such as angioplasty, and the resulting increase in angiography procedures, the report said. More cardiologists also have become skilled in performing intervention procedures.

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Source: www.ezinearticles.com