The global medical imaging market is expected to reach USD 55.7 billion by 2025
Augmenting investment by government and federal organizations for portable diagnostic devices, and increasing prevalence of numerous chronic as well as sedentary lifestyle diseases is expected to vitally impact the industry growth.
Funds and initiatives by government and private players is expected to benefit the market. For instance, based on the information provided by the Hindustan Times in 2016, the Indian Government has setup an agency for encouraging domestic manufacturers and regulated prices of the medical devices.
Along with rise in investments and funds in developing region, there is also a significant rise in fundings in the European countries such as the UK where USD 21.0 million was provided by the government in August 2015 for better development of new therapy, diagnostics and medical technologies. Such efforts across various countries worldwide, together, are anticipated to positively drive the market over the forecast period.
The Diagnostic imaging market is highly consolidated and is anticipated to witness various new product launches over the forecast period, which will vitally impact the revenue generation for the industry. As of 2016, high slice system includes 80, 128, 256, 320 and 640 slice system which are offered only by top vendors such as Toshiba, Siemens Healthineers, Philips and GE healthcare.
Further key findings from the report suggest:
Based on product type, there are five segments, X-ray, computed tomography, ultrasound, MRI equipment, and nuclear imaging. The x-ray segment was identified as the largest and is expected to grow at a CAGR of over 3.0% during the forecast period.
North America is one of the most lucrative region for medical imaging market owing to better infrastructure facilities as compared to emerging regions and high end purchasing power along coupled with reimbursement framework in the region. U.S is the dominating region owing to its large population base having insurance coverage, advancement in technology, aging population coupled with prevalence of chronic disease.
Key performing companies include Philips Healthcare, GE Healthcare, Siemen Healthineers, and Toshiba Medical Systems. Other players include, Shimadzu Corporation, Varian Medical Systems, Aribex Corporation, and Ziehm Imaging, Inc.
Key Topics Covered:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
Chapter 4 Medical Imaging Market: Product Estimates & Trend Analysis
Chapter 5 Medical Imaging Market: Technology Estimates & Trend Analysis
Chapter 6 Medical Imaging: Regional Estimates & Trend Analysis, by Product, and Technology