According to PersistenceMarketResearch, the global medical imaging equipment market will witness a CAGR of 6.1% between 2020 and 2030.
Market Snapshot
Medical imaging equipment come into picture mainly while following-up for the disease that is either being treated or on the verge of getting diagnosed. Ultrasonography and X-Ray-based diagnostics are vital at every level of healthcare. It is a known fact that apt diagnoses decide the course of treatment in palliative as well as curative care. As such, healthcare professionals could avoid certain surgical interventions if simple medical imaging equipment are available. This benevolence is bound to drive the medical imaging equipment going forward.
How is the Market Categorized?
The application areas include orthopaedics, cardiology, neurology, gynecology, oncology, and others. Out of these, oncology imaging dominates the market. As far as end-users are concerned, specialty clinics rule the roost. The other types of medical imaging equipment include CT equipment and molecular imaging technologies. The X-Ray equipment are witnessing advancements in C-arms – like mini c-arms that are based on flat panel detection and digital radiography. This factor is likely to accelerate the demand for X-Ray equipment in the near future.
Region-wise?
North America holds the largest market share. This could be attributed to numerous patients getting into diagnostic imaging procedures. Europe stands second on the similar grounds. However, the Asia-Pacific is expected to grow at the fastest pace between 2020 and 2030. This could be credited to an ever-increasing demand for “advanced medical imaging equipment” backed by growing incidences of various chronic ailments. LATAM and MEA are also expected to catch up in the upcoming period.
Competitive Landscape
The key market participants are inclusive of Genesis Medical Imaging, Inc., Philips Healthcare, Shimadzu Corporation, GE Healthcare, Hologic, Inc., Siemens Healthcare, Carestream Health Inc., Fujifilm Sonosite, Inc., Hitachi Medical Corporation, Fonar Corporation, and Toshiba Corporation. On the developments’ front, Fujifilm Sonosite, Inc., in Jul 2020, came up with Sonosite PX ultrasound system. It comes across as the subsequent generation in “Sonosite PX”, which has an advanced clarity in images. Also, Canon Medical Systems USA, Inc., in Apr 2019, tabled Apilo a-series. – to facilitate numerous clinical uses.
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