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Medical Imaging Equipment Market Expected to Reach US$ 45.3 Bn Globally in 2023

Improvement in health care reforms in major countries such as Japan, the U.S., China, and U.K. has enhanced access to various diagnostic and treatment services thereby increasing life expectancy of the population.

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Medical Imaging Equipment Market Expected to Reach US$ 45.3 Bn Globally in 2023

  1. 1. Global Medical Imaging Equipment Market, 2015 - 2023 Persistence Market Research Medical Imaging Equipment Market Expected to Reach US$ 45.3 Bn Globally in 2023 Persistence Market Research 1
  2. 2. Global Medical Imaging Equipment Market, 2015 - 2023 According to a new market report published by Persistence Market Research “Global Market Study on Medical Imaging Equipment,” the global medical imaging equipment market was valued at US$ 29.4 Bn in 2015 and is expected to reach US$ 45.3 Bn by 2023, growing at a CAGR of 5.6% during the forecast period from 2015 to 2023. Improvement in health care reforms in major countries such as Japan, the U.S., China, and U.K. has enhanced access to various diagnostic and treatment services thereby increasing life expectancy of the population. Rise in geriatric population is expected to intensify the need for healthcare products and services in these countries. Moreover, the rising incidence of diseases across the globe continue to increase the demand for diagnosis equipment, particularly non- invasive imaging solutions. According to the World Health Organization (WHO), an estimated 17.5 Mn people died due to cardiovascular diseases in 2012, accounting for approximately 31% of global deaths. Moreover, 235 Mn people were diagnosed with asthma across the world in 2014. Interested in report: Please follow the below the links to meet your requirements; Request for the Report Sample: http://www.persistencemarketresearch.com/samples/11215 On account of all these factors, the global medical imaging equipment market is expected to grow at a CAGR of 5.6% during the forecast period from 2015 to 2023. The market is driven by the major developed economies of the U.S., Europe, and Asia Pacific. However, emerging markets, particularly, China, India and Brazil are expected to be the fastest growing market in terms of CAGR during the forecast period. With a share of more than 30% in 2015, North America was the largest market for medical imaging equipment primarily due to high awareness about medical imaging devices financial capability to purchase expensive machines, rising demand for technologically advanced and innovative products in hospitals, diagnostics laboratories and outpatient ambulatory surgery centers, and high investment in improving healthcare infrastructure. Obesity is one of the major causes of several diseases of cardiovascular system that has led to increase in demand for diagnostic imaging in the U.S. According to the Centers for Disease Control and Prevention (CDC), the percentage of obese children aged between 6 years and 11 years increased from 7% in 1980 to 18% in 2012 in the U.S. In addition, increasing healthcare expenditure in the U.S. in recent years has also assisted in dramatic rise in the usage of medical imaging. Persistence Market Research 2
  3. 3. Global Medical Imaging Equipment Market, 2015 - 2023 Emerging economies such as China, India, Indonesia, Malaysia, Singapore and Thailand are providing much needed boost to the medical imaging equipment market. The Asia Pacific market is driven by demand for refurbished imaging systems as more equipment are needed with less funds dedicated to healthcare budgets. However, demand for new devices that offer superior imaging, speed, flexibility and portability are also being adopted in China and India, countries with the largest market potential. Europe was ranked third, in terms of market size, after North America and Asia Pacific. Demand in the region is similar to North America, wherein demand for advanced equipment for all modalities is higher. Western Europe, which includes major economies such as Germany, U.K., France, and Italy, holds a major share in the region. View TOC (table of content), Figures and Tables of the Report: http://www.persistencemarketresearch.com/market-research/medical-imaging-equipment- market/toc Others markets on the global map include Latin America and Middle East & Africa. As the markets in the developed world are becoming saturated, most the market players are focusing on emerging markets in Brazil and member states of Gulf Cooperation Council. Looking at the proximity of Brazil to the U.S., major market players find it convenient to have manufacturing facilities in Brazil. Therefore, the Latin America market is poised to grow rapidly. In addition, the government efforts in GCC member states to invest in improving the healthcare infrastructure and promote medical tourism are facilitating the demand for newer medical imaging equipment. Key participants in global imaging equipment market include, GE Healthcare, Shimadzu Corporation, Philips Healthcare, Genesis Medical Imaging inc., Hologic Inc., Siemens Healthcare, Samsung Medison Co. Ltd, Carestream Health Inc., Hitachi Medical Corporation, Fujifilm Holdings Corporation, Toshiba Corporation and Fonar Corporation. The medical imaging equipment market is highly capital. Browse Full Report: http://www.persistencemarketresearch.com/market-research/medical- imaging-equipment-market.asp The global medical imaging equipment market is segmented into the following categories: Medical Imaging Equipment Market, by Product X-Ray Devices Persistence Market Research 3
  4. 4. Global Medical Imaging Equipment Market, 2015 - 2023 Stationary Portable Ultrasound Systems Cart/Trolley Based Ultrasound System Compact/Portable Ultrasound System Computed Tomography (CT) Scanners Stationary Mobile Magnetic Resonance Imaging (MRI) Equipment Closed Open Nuclear Imaging Equipment SPECT Scanner PET Scanner Medical Imaging Equipment Market, by Technology X-Ray Devices Analog X-ray Technology Digital Radiography Computed Radiography Ultrasound Systems 2-D 3-D & 4-D Doppler High Intensity Frequency Ultrasound (HIFU) Lithotripsy Persistence Market Research 4
  5. 5. Global Medical Imaging Equipment Market, 2015 - 2023 Computed Tomography (CT) Scanners Stationary Mobile Magnetic Resonance Imaging (MRI) Equipment Low-Slice Medium-Slice High-Slice Nuclear Imaging Equipment SPECT Scanner PET Scanner 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 Persistence Market Research 5
  6. 6. Global Medical Imaging Equipment Market, 2015 - 2023 Brazil Rest of Latin America Middle East and Africa (MEA) GCC Countries Rest of MEA Market Bytes: Advancements in 3D imaging technology has enabled development in computer-aided detection (CAD) and increased applications for imaging diagnostic applications. Moreover, rising incidence of several diseases such as respiratory, orthopedic, and cardiovascular has increased global demand for diagnosis and diagnostic equipment. The global medical imaging equipment market was valued at US$ 29.4 Bn in 2015 and is projected to reach US$ 45.3 Bn by 2023, expanding at a CAGR of 5.6% during the forecast period from 2015 to 2023. Imaging devices such as magnetic resonance imaging (MRI), computed tomography (CT or CAT), and ultrasound have allowed further options for treatment guidance essentially with very low morbidity. This has resulted in highly improved outcomes and quality of life for the patients. Among all the product types, X-Ray devices, and ultrasound devices collectively accounted for around 50% of the total market share in 2015. Factors such as changing buyer preferences due to rising demand for bedside monitoring and rise in the number of patients catered via urgent care centers and emergency medical services have increased demand for technologically-advanced X-ray systems. Digital X-ray systems have revolutionized X-ray imaging, and thus helped the upsurge of the existing sluggish mature X-ray imaging equipment segment. Factors such as increasing incidence of diseases diagnosed using this imaging technique (such as oral diseases and orthopedic conditions) and product enhancement and upgrade in the form of device portability are likely to drive the market. Moreover, digital X-ray systems are contributing to the growth of the market in terms of revenue due to surging demand for these products across the world. Newer and better imaging technologies such as nuclear imaging and computed tomography (CT) are expected to witness high adoption levels by the end of the forecast period. In 2015, the global portable X-ray devices market held more than 40% share in X-ray devices market and is expected to record significant growth during the forecast period. Portable X-ray devices have high adoption rates, especially in emergency departments and ICUs. The Stationary X-ray equipment is getting rapidly replaced by mobile and portable X-ray devices triggered by the shift in user preference towards Persistence Market Research 6
  7. 7. Global Medical Imaging Equipment Market, 2015 - 2023 bedside imaging. Furthermore, the advent of new healthcare trends such as home healthcare is also slowing down the sale of stationary X-ray equipment. Ultrasound devices are anticipated to witness a growth of around 7% during the forecast period. Rise in geriatric population will intensify the need for health care products and services since this segment of the population is more prone to diseases such as respiratory (tuberculosis and pneumonia), oral, orthopedic (osteoporosis), and cardiovascular diseases. Early diagnosis of these diseases is crucial for decision making and ensuring proper treatment. These diseases can be accurately diagnosed with the use of imaging equipment such as X-ray, ultrasound, magnetic resonance imaging (MRI), and computed tomography (CT). About Us Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi- disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes. Contact Persistence Market Research 305 Broadway 7th Floor, New York City, NY 10007, United States, USA - Canada Toll Free: 800-961-0353 Email: sales@persistencemarketresearch.com media@persistencemarketresearch.com Persistence Market Research 7
  8. 8. Global Medical Imaging Equipment Market, 2015 - 2023 Web: http://www.persistencemarketresearch.com Persistence Market Research 8

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