GE Healthcare, world?s largest maker of imaging equipment, is stepping up its focus on emerging markets such as India for developing cost-effective devices. It is working out innovative technologies for emerging markets as it sees no slowdown in India and is expecting a 15% growth in sales, as opposed to nearly flat sales in troubled markets such as Europe and the US.
The company has invested about $50 million during May-June for developing 30-odd low-cost products, to be launched in the next three years from its Bangalore centre.
?About 30-odd products are in the pipeline in various sectors such as PET-CT, MRI scanners and ventilation, among others, which are for the Indian and the emerging global markets,? says John Dineen, president and CEO.
Talking to FE, at the recently concluded Radiological Society of North America (RSNA) 2011, he said that the company is planning to roll out a series of technologies to better manage radiation exposure during CT scans and X-rays. It has already launched about 14-odd products for the Indian market and the 30-odd products are expected to be launched in the next three years.
Globally, GE said that its healthcare unit will invest another $300 million in low-dose radiation technologies. The investment brings GE Healthcare?s low-dose radiation investment to more than $800 million over 15 years. On the sales front, it is expected to flat to slightly up in 2012 in developed markets, which includes Western Europe, the US, and Japan, as Europe?s sovereign debt crisis curbs spending. Developing markets should grow faster, with revenue gaining about 10% in Latin America and Eastern Europe, as much as 13% in China and 15% in India.
?The investments in new equipment and devices introduced this year, including processes that limit radiation exposure from imaging scans, is expected to generate about $1.5 billion a year in new revenues. The new machines are more comfortable for patients and require less time for procedures, increasing volume for healthcare providers without compromising on quality,? he added.
The company is also working on low-dose technologies. ?Dose is still high on the agenda and we have announced a $300-million investment into research and development for low-dose technologies, encompassing CT, X-ray, software and other low-dose technologies and education. It has launched innovative technologies such as DoseWatch, a novel multi-modality dose monitoring solution; Veo, a pioneering image reconstruction technology that has enabled CT imaging under 1 millisievert with profound clarity; and dose-alert upgrades that go further across the installed base,? he said.
(Travel for this story was sponsored by the company)