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Global Medical Imaging Equipment Market: Snowballing Incidence of Chronic Diseases Aggravates Demand for Various Imaging Modalities, says TMR

Posted on Jun 06, 2017

The global medical imaging equipment market has been prognosticated to hold a significantly competitive nature with not many participants making an impression in the industry, according to a report by Transparency Market Research (TMR). Leading companies such as CareStream Health, Inc., Siemens Healthcare, GE Healthcare, and Philips Healthcare had secured nearly half of the total share in the global medical imaging equipment market in the past. The less number of top players operating in the global medical imaging equipment market could lead to a scenario of price wars taking shape with each passing year.

As per the statistics procured by TMR, the global medical imaging equipment market could expand at a CAGR of 5.6% from 2015 to 2023. By 2022, the global medical imaging equipment market could rake in a US$45.30 bn. Anticipated to earn a larger share in the global medical imaging equipment market in terms of technology, digital radiography categorized under X-ray devices could rise a 5.8% CAGR during the forecast period. North America has been prophesied to achieve a US$13.50 bn by the final forecast year.

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Improved Levels of Accuracy with Advanced Imaging Modalities Foster Demand

In the recent years, the demand in the world medical imaging equipment market has been analyzed to be bolstered by new accuracy levels in 3D visualization brought about by a rising count of imaging modalities. For instance, oncologists could be facilitated with a better understanding of the intensity of breast cancer with the implementation of 3D imaging. 2D imaging, on the other hand, has been predicted to help the world medical imaging equipment market gain momentum in China, India, and other developing nations as investments in healthcare infrastructure see a rise.

The augmenting demand for diagnostic equipment on account of a mounting incidence of diseases such as orthopedic, cardiovascular, respiratory, and oral could strengthen the growth of the world medical imaging equipment market. Imaging modalities such as computed tomography (CT) scanners, magnetic resonance imaging (MRI), and nuclear imaging equipment have been envisaged to generate a colossal demand on the back of the occurrence of a wide array of chronic diseases.

High occurrence of diseases such as tuberculosis in developing economies could create sufficient opportunities of growth in the world medical imaging equipment market as vendors ride on the elevating adoption of technologically advanced products.

Budget Cuts in Healthcare Hurt Adoption of Medical Imaging Equipment

Manufacturers have been foretold to suffer a sluggish growth as developed countries such as the U.S. force pressure on healthcare budgets to embrace cut downs. This could cause disruption in the overall dynamics of the international medical imaging equipment market. Surging awareness about the hazardous effects of radiation on both patients and equipment handlers has been envisioned to discourage demand in the international medical imaging equipment market. High cost of MRIs and CT scans could be another deterrent in the international medical imaging equipment market.

Lack of medical facilities and dense geriatric population base in emerging countries have been foreseen to unveil new avenues of growth in the international medical imaging equipment market. Moreover, the focus on matching equipment prices to cope with healthcare budget cuts could cancel a major deterrent in the international medical imaging equipment market. The optimization of replaced equipment and devices and their supply to regions lacking proper healthcare facilities have been projected to raise the hopes of manufacturers operating in the international medical imaging equipment market.

The information presented in this review is based on a TMR report, titled, “Medical Imaging Equipment Market (Product - X-ray Devices (Stationery and Portable), Ultrasound Systems (Cart/Trolley-based Ultrasound System and Compact/Portable Ultrasound System), CT Scanners (Stationery and Portable), MRI Equipment (Closed and Open), and Nuclear Imaging Equipment (SPECT Scanner and PET Scanner); Technology - X-ray Devices (Analog X-ray Technology, Digital Radiography, and Computed Radiography), Ultrasound Systems (2-D, 3-D and 4-D, Doppler, HIFU, and Lithotripsy), CT Scanners (Stationery and Mobile), MRI Equipment (Low Slice, Medium Slice, and High Slice), and Nuclear Imaging Equipment (SPECT Scanner and PET Scanner) - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast 2015 - 2023.”

The global medical imaging equipment market has been segmented as presented below:

Global Medical Imaging Equipment Market by Product

  • X-ray Devices
    • Stationary
    • Portable
  • Ultrasound Systems
    • Cart/Trolley-based Ultrasound System
    • Compact/Portable Ultrasound System
  • CT Scanners
    • Stationary
    • Mobile
  • MRI Equipment
    • Closed
    • Open
  • Nuclear Imaging Equipment
    • SPECT Scanner
    • PET Scanner

Global Medical Imaging Equipment Market by Technology

  • X-ray Devices
    • Analog X-ray Technology
    • Digital Radiography
    • Computed Radiography
  • Ultrasound Systems
    • 2-D
    • 3-D and 4-D
    • Doppler
    • HIFU
    • Lithotripsy
  • CT Scanners
    • Stationary
    • Mobile
  • MRI Equipment
    • Low Slice
    • Medium Slice
    • High Slice
  • Nuclear Imaging Equipment
    • SPECT Scanner
    • PET Scanner

Global Medical Imaging Equipment Market by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • Rest of MEA

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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