In 2012, the medical imaging equipment market was worth $24.39 billion and in 2019 it will be worth $35.55 billion — that's the takeaway from a new market report from Transparency Market Research (TMR).
The researchers credit the market's success — projected at a compound annual growth rate (CAGR) of 5.4 percent from 2013 to 2019 — to the usual suspects in health care, people living longer with managed health issues. They cite the prevalence of cardiovascular disease, as well as brain and lung disorders, among the health issues contributing most significantly to the growing imaging market.
A continued dependence of end users on traditional systems like CT and MR instead of adopting more advanced modalities is a factor that restricts growth, they said.
Despite that, investments in CT scanners is counted alongside nuclear imaging equipment as two market segments expecting the most rapid growth, while X-ray devices are expected to continue as the main driver of the market. Other modalities included in the report are ultrasound and MR.
TMR cites twelve major companies profiled in the research report, but also says that three of those companies make up over half of the entire market. Regionally speaking, the biggest growth is anticipated in Asia Pacific.
The full report, 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, can be purchased starting at $4,795.
