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Siemens Healthcare asserts its leading worldwide position in medical technology
Market share in large imaging systems rises to 36 percent worldwide / Sector's Agenda 2013 initiative lays foundation for further capital-efficient growth
Against the backdrop of a slowdown of the global economy and increasing pressure to reduce costs in healthcare systems, Siemens Healthcare has been able to maintain and partially even improve its leading worldwide position in medical technology. For instance, Siemens' market share in large imaging systems has steadily increased in recent years and now amounts to 36 percent. Siemens has thus strengthened its global leadership in this segment.
The dual-track strategy is proving its merit in enhancing both product portfolio and market coverage. As far as the product portfolio is concerned, Siemens Healthcare is the only provider able to master both the market for pioneering technologies like integrated MRI/PET systems and the medium-price segment at the same time. The Magnetom Spectra is the most recent proof of that. Thanks to its economic efficiency, hospitals and other radiological institutes can offer their patients high-quality 3-tesla imaging. As far as market coverage is concerned, Siemens Healthcare has over the past three years been able to more than offset the decrease in volume in the U.S. with annual growth of 27 percent in China. This makes China Siemens Healthcare's second largest market for imaging equipment and most important growth market. To continue to profit from this positive development, the Sector will intensify direct and indirect sales activities in emerging countries. In fiscal 2012, Siemens Healthcare's workforce in China is planned to be increased by about 700 employees.
Siemens Healthcare introduced its Agenda 2013 in November 2011. This two-year initiative defines a number of measures in the areas of innovation, competitiveness, regional footprint, and workforce development and so broadens the Sector's basis for future capital-efficient growth. The first measures have already been successfully implemented. Targeted investment in key R&D areas is designed to enlarge the product offering for the entry-level segment. To return to margin levels of previous fiscal years, the Diagnostics Division is carrying out effective cost-saving measures while simultaneously focusing its R&D activities on growth-oriented innovations. Also, cross-Sector purchasing volume will be increased in emerging countries to secure margins. Here, Siemens Healthcare is aiming for a target of 20 percent - three years ago it was just over 17 percent. Furthermore, savings have been achieved by reducing Sales, General and Administrative costs (SG&A). Between 2008 and 2011, the SG&A costs' share of revenue decreased by a total of nearly three percentage points.
*Disclaimer: The product is still under development and not commercially available yet. Its future availability cannot be ensured.
Launched by Siemens Healthcare Sector in November 2011, Agenda 2013 is a two-year global initiative to further strengthen the Healthcare Sector's innovative power and competitiveness. Specific measures will be implemented in four fields of action: Innovation, Competitiveness, Regional Footprint, and People Development.
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