Medical Imaging Equipment Market to Attain Market Value of US$35.35 Billion by 2019: Transparency Market Research

Aug 20, 2015, 09:30 ET from Transparency Market Research

ALBANY, New York, August 20, 2015 /PRNewswire/ --

Transparency Market Research (TMR) has recently announced the release of a market study based on the global medical imaging equipment market, stating an estimation for the market to develop at a CAGR of 5.4% during the period from 2013 to 2019 and reach U$35.35 billion by the end of the forecast period. The report, titled "Medical Imaging Equipment Market (X-ray, Ultrasound, Computed Tomography (CT), Magnetic Resonance Imaging (MRI) and Nuclear Imaging Equipment) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.", notes that the global medical imaging equipment market stood at US$24.39 billion in 2012.Hitherto, supported by the rise in the global geriatric population base and increase in the prevalence of cardiovascular diseases and disorders associated with brain, lungs, and the buccal area, the market for medical imaging equipment has been growing at a healthy pace. In the future, technical advancement in the field of medical imaging devices and increase in private and government initiatives is expected to drive the market, the report states.

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On the other hand, medical and healthcare practitioners as well as patients are still preferring traditional CT and MRI scanners over advanced medical imaging equipment, thereby restricting the global market. However, expansion of the patient pool and the rise in the disposable income of patients in emerging economies is likely to present ample opportunities for the market during the forecast period. According to the report, the global medical imaging equipment market is analyzed on the basis of products, technology, and regional distribution. Based on products, analysts anticipate the markets for nuclear imaging equipment and CT scanners to exhibit the highest growth rate among product segments of the global medical imaging equipment market. In 2012, the market for CT scanners stood at US$4.35 billion, whereas the nuclear imaging equipment market was worth US$1.47 billion. Both these markets are projected to expand at 5% CAGRs.

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Technology-wise, the market for X-ray devices held the leading position in the overall medical imaging equipment market in 2012. However, the markets for nuclear imaging and CT are expected to register the fastest growth during the forecast period. On the regional front, the medical imaging equipment market in North America generated the highest revenue in the global market in 2012. However, the market in Asia Pacific is expected to register the highest growth at a CAGR of more than 5% during the forecast period. Advancement in healthcare infrastructure and rising geriatric population has led to an increase in demand for medical imaging equipment.

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The report determines the global medical imaging market to be consolidated in nature, where the top three participants collectively account for around half of the overall market. Carestream Health, Inc., Fujifilm Holdings Corp., Fonar Corp., GE Healthcare Ltd., Hitachi Medical Corp., Genesis Medical Imaging Inc., Hologic Inc., Samsung Medison Co. Ltd., Philips Healthcare, Shimadzu Corp., Toshiba America Medical Systems Inc., and Siemens Healthcare are the major companies profiled in this research report.

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The global medical imaging equipment market is segmented into 

Medical Imaging Equipment Market, by Product Types 

  • X-ray Devices
    • Stationary X-ray Devices
      • Mobile
      • Handheld
    • Portable X-ray Devices
  • Computed Tomography (CT) Scanners
    • Stationary CT
    • Portable/Mobile CT
  • Ultrasound Systems
    • Trolley/Cart based ultrasound
    • Compact/Portable ultrasound
  • Magnetic Resonance Imaging (MRI) Equipment
    • Closed MRI
    • Open MRI
  • Nuclear Imaging Equipment
    • Single Photon Emission Computed Tomography (SPECT) Scanners
    • Positron Emission Tomography (PET) Scanners

Medical Imaging Equipment Market, by Technology 

  • X-ray Devices
    • Analog
    • Computed radiography (CR)
    • Digital radiography (DR)
  • Computed Tomography (CT) Scanners
    • Low-slice scanners
    • Medium-slice scanners
    • High-slice scanners
  • Ultrasound Systems
    • 2-D Imaging
    • 3-D & 4-D Imaging
    • Doppler
    • HIFU
    • Lithotripsy
  • Magnetic Resonance Imaging (MRI) Equipment
    • High-field
    • Medium-field
    • Low-field
  • Nuclear Imaging Equipment
    • Single Photon Emission Computed Tomography (SPECT)
    • Positron Emission Tomography (PET)

Medical Imaging Equipment Market, by Geography 

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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