Global Medical Imaging Equipment Market to Grow at 5.6% CAGR Through 2023

ALBANY, USA, 2018-May-11 — /EPR Network/ —Market Research Reports Search Engine (MRRSE) has added a new report to its repository. 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, Volume, Share, Growth, Trends and Forecast 2015 – 2023,” offers an in-depth study of the global medical imaging equipment market and points out the key factors affecting the growth of the market during the period between 2015 and 2023. The global medical imaging equipment market is estimated to expand at a CAGR of 5.6% during the aforementioned forecast horizon and reach a valuation of US$45.3 bn by 2023.

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The report points out that the increase in demand for 3D medical imaging equipment, along with the growing prevalence of chronic diseases such as cancer, will propel the growth of the global medical imaging equipment market. Rise in the geriatric population worldwide and various initiatives taken by the public and private sectors will drive the growth of the market during the forecast horizon. However, increasing pressure on healthcare budgets in countries such as the U.S. and excise duty imposed on medical device manufacturers will restrain the overall market. The global medical imaging equipment market has a huge opportunity to grow with the introduction of cloud-based medical imaging.

On the basis of technology, the report segments the global medical imaging equipment market into X-ray devices, ultrasound systems, computed tomography scanners, and magnetic resonance imaging equipment. The X-ray devices segment accounted for the largest share in the market in 2014. Digital X-ray systems have revolutionized X-ray imaging, thereby boosting the demand for X-ray devices. X-ray devices have been further sub-segmented into portable and fixed X-ray systems. Portable X-ray devices witness high demand across ICUs and emergency departments. Recent developments in ultrasound technology have helped in diagnosis of cancer and other diseases. This has propelled the demand for ultrasound systems. Advanced technologies such as 4D imaging will further enhance the growth of the ultrasound imaging devices market.

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With market players introducing handheld portable medical imaging devices, the medical imaging equipment market has witnessed positive growth across several regions. The report studies the medical imaging equipment market across five key regions: Asia Pacific, Latin America, Europe, North America, and the Middle East and Africa. In terms of revenue, North America accounted for the largest share in the market in 2014. Asia Pacific emerged as the second largest market in 2014, outperforming Europe. The rapid growth of the market in Asia Pacific can be attributed to rising healthcare infrastructure such as hospitals and clinical settings.

Describing the competitive hierarchy, the report profiles some of the key players in the global medical imaging equipment market such as GE Healthcare, Philips Healthcare, Siemens Healthcare, Shimadzu Corporation, Hologic Inc., Samsung Medison Co. Ltd., Genesis Medical Imaging, Inc., Hitachi Medical Corporation, Fujifilm Holdings Corporation, Carestream Health Inc., Fonar Corporation, and Toshiba Corporation. The market is highly capital-intensive and hence, companies with huge research and development expenditures lead the market.

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