New York, NY — 12/18/2017 — 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.
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.
The global Medical Imaging Equipment Market is segmented on the basis of product types, X-Ray devices, ultrasound devices and region.
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.
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Summary of Table of Content
2. Executive Summary
3. Global Medical Imaging Equipment Market Overview
4. Global Medical Imaging Equipment Market, by Product Types
5. Global Medical Imaging Equipment Market, by Technology
6. Global Medical Imaging Equipment Market, by Geography
7. Company Profiles
9. Market Strategies for Success
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