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Diagnostic Imaging Market (CT, MRI, X-Ray & Ultrasound) - Competitive Landscape & Global Forecasts 2010 - 2016

By: marketsandmarkets.com
Publishing Date: July 2011
Report Code: MD 1628

With recession now in the rearview mirror, industries across the globe are witnessing an ever-increasing investment, along with mergers and acquisitions, and spending by government. Global diagnostic imaging industry is, by no means, left behind, with numerous technology innovations and investments springing up.

Global diagnostic imaging market is now sharing a significant pie of the medical device industry with increasing awareness about the early screening of disease. This has also compelled many players to invest in research as the market is witnessing obsolete technology.

The global diagnostic imaging market is expected to grow from $20.7 billion in 2010 to $26.6 billion by 2016, at a CAGR of 4.2% from 2011 to 2016. Increasing aging population and widening applications of diagnostic imaging due to continuous developments are predominantly driving the diagnostic imaging market.

The emerging trend that is catching interest of the players is fusion of nuclear imaging with different modalities of diagnostic imaging products. The merging of imaging modalities such as PET/CT, SPECT/CT, and MRI/PET helps in providing full gamut of imaging scans through the same unit and at the same time. Further, portable diagnostic equipment are facing an immense demand from physicians.

X-ray constituted the largest percentage share; i.e. 34% share in 2010; followed by ultrasound (21%), CT scan (19.5%), MRI (18.5%), and nuclear medicine (7%). With respect to geographies, the market is dominated by Americas with a total market share of around 36.3% in 2010, followed by Europe (27.3%), Asia (27%), and ROW (9.4%).

The U.S. still accounts for the majority of the market; followed by Western Europe, but the growth in the medical device industry has been spurred by Asian economies (China and India) and East European nations (Brazil and Mexico). Middle East and Africa are still lagging far behind in the medical device industry.

Aging population and increase in the chronic disease population are considered as the main drivers of the imaging market in the developed nations and rising fiscal deficit is expected to inhibit the growth of the developed nations.

GE Healthcare (UK), Philips (The Netherlands), and Siemens (Germany) together constitute most of the market with Philips’ market share equaled to GE due to increased focus towards the emerging market. The other players that are rapidly gaining presence in the market are Toshiba (Japan), Hitachi (Japan), and Hologic (U.S.).

Scope of the report

This research report evaluates the global diagnostic imaging market with respect to the product market. The report analyzes geography; forecasting revenues, and trends in each of the following submarkets:

X-ray
CT
MRI
Ultrasound
Nuclear imaging

Each section provides market data, market drivers, trends and opportunities, top-selling products, key players, and competitive outlook. This report also provides market tables for covering the sub-segments and micro-markets. In addition, it makes ways for company profiles that cover all the sub-segments. As such, the report leaves no stone unturned in apprising about the past, present, and future of global diagnostic imaging market.

TABLE OF CONTENTS

EXECUTIVE SUMMARY

1 INTRODUCTION
1.1 KEY TAKE-AWAYS
1.2 REPORT DESCRIPTION
1.3 MARKETS COVERED
1.4 STAKEHOLDERS
1.5 RESEARCH METHODOLOGY

2 MARKET OVERVIEW
2.1 INTRODUCTION
2.2 DIAGNOSTIC IMAGING MARKET
2.3 BURNING ISSUES
      2.3.1 INCREASE IN AGING POPULATION DRIVING DEMAND
      2.3.2 WIDER APPLICATIONS OF IMAGING MODALITIES
      2.3.3 INCREASED USE & ACCEPTANCE OF IMAGING
      2.3.4 HEALTHCARE SPENDING & REIMBURSEMENT ISSUE
      2.3.5 INCREASING CONSUMER AWARENESS FOR PREVENTIVE DIAGNOSTIC SCREENING
2.4 TRENDS & DEVELOPMENTS
      2.4.1 FUSION & MULTIMODALITY
      2.4.2 PORTABLE IMAGING EQUIPMENT
      2.4.3 LOW COST DIAGNOSTIC EQUIPMENT TAKES PRECEDENCE OVER TRADITIONAL EQUIPMENT
      2.4.4 INCREASING PARTNERSHIP WITH OEMS
      2.4.5 ESTABLISHING VENTURE FOR TECHNOLOGY
      2.4.6 COST OPTIMIZATION THROUGH SOFTWARE
2.5 MARKET DYNAMICS & IMPACT ANALYSIS
2.6 WINNING IMPERATIVES
      2.6.1 FOCUSING ON EMERGING MARKETS
      2.6.2 COST REDUCTION THROUGH TECHNOLOGY SOLUTIONS
      2.6.3 TECHNOLOGY ADVANCEMENT & INNOVATIONS

3 MARKET – BY PRODUCTS
3.1 INTRODUCTION
3.2 X-RAY
      3.2.1 OVERVIEW
            3.2.1.1 General X-ray
            3.2.1.2 Cardiovascular X-ray
      3.2.2 TRENDS & DEVELOPMENTS
      3.2.3 PRICING & ANALYSIS
      3.2.4 DRIVERS
            3.2.4.1 Low cost & portable X-ray
            3.2.4.2 Digital mammography
3.3 COMPUTED TOMOGRAPHY (CT)
      3.3.1 OVERVIEW
            3.3.1.1 Low slice
            3.3.1.2 Mid slice
            3.3.1.3 High slice
      3.3.2 TRENDS & DEVELOPMENTS
      3.3.3 PRICING & ANALYSIS
      3.3.4 TECHNOLOGY INNOVATION (HIGH SLICE) DRIVES THE MARKET
      3.3.5 RADIATION DOSE IS A CONCERN
3.4 MAGNETIC RESONANCE IMAGING
      3.4.1 OVERVIEW
            3.4.1.1 Closed MRI
            3.4.1.2 Open MRI
            3.4.1.3 Low field MRI
            3.4.1.4 Mid field MRI
            3.4.1.5 High field MRI
      3.4.2 TRENDS & DEVELOPMENTS
      3.4.3 PRICING & ANALYSIS
      3.4.4 DRIVERS
            3.4.4.1 Increasing use of MRI in other clinical applications
            3.4.4.2 Latest technology upgradation
            3.4.4.3 Increasing number of breast MRIs
3.5 ULTRASOUND
      3.5.1 OVERVIEW
      3.5.2 TRENDS & DEVELOPMENTS
      3.5.3 PRICING & ANALYSIS
      3.5.4 PORTABLE ULTRASOUND DRIVES THE MARKET
3.6 NUCLEAR IMAGING
      3.6.1 OVERVIEW
      3.6.2 TRENDS & DEVELOPMENTS
      3.6.3 PRICING & ANALYSIS
      3.6.4 FUSION WITH OTHER MODALITIES DRIVES THE MARKET
3.7 OTHER IMAGING MODALITIES
      3.7.1 OVERVIEW
            3.7.1.1 Power injection systems
      3.7.2 TRENDS & DEVELOPMENTS

4 GEOGRAPHICAL ANALYSIS
4.1 INTRODUCTION
4.2 AMERICAS
      4.2.1 OVERVIEW
      4.2.2 REGULATIONS
      4.2.3 DRIVERS
            4.2.3.1 Increase in aging population
            4.2.3.2 Rise in chronic diseases and related cost
      4.2.4 RESTRAINTS
            4.2.4.1 Radiation exposure
            4.2.4.2 Reimbursement
4.3 EUROPE
      4.3.1 OVERVIEW
            4.3.1.1 Germany
            4.3.1.2 France
            4.3.1.3 Italy
            4.3.1.4 Spain
            4.3.1.5 UK
      4.3.2 DRIVERS
            4.3.2.1 Aging population
            4.3.2.2 Rise of chronic disease population
      4.3.3 RESTRAINTS
            4.3.3.1 Decrease in healthcare expenditure
            4.3.3.2 Stringent regulations
      4.3.4 REGULATIONS
4.4 ASIA-PACIFIC
      4.4.1 OVERVIEW
            4.4.1.1 China
            4.4.1.2 India
            4.4.1.3 Japan
      4.4.2 DRIVERS, RESTRAINTS & OPPORTUNITIES
            4.4.2.1 China
                    4.4.2.1.1 Healthcare reforms
                    4.4.2.1.2 Increase in aging population will drive demand for medical imaging devices
                    4.4.2.1.3 Replacement of old medical devices
                    4.4.2.1.4 Uncertain regulatory policies and delays in registration
            4.4.2.2 India
                    4.4.2.2.1 Technology & innovation
                    4.4.2.2.2 Increasing demand for quality healthcare
                    4.4.2.2.3 India’s rising medical tourism
                    4.4.2.2.4 Increasing investment in government & private sector
                    4.4.2.2.5 Ease of regulations
            4.4.2.3 Japan
                    4.4.2.3.1 Aging population
                    4.4.2.3.2 Advancement in technology
                    4.4.2.3.3 Healthcare spending & reimbursement
                    4.4.2.3.4 Increasing number of people suffering from chronic diseases
      4.4.3 REGULATIONS
            4.4.3.1 China
            4.4.3.2 India
            4.4.3.3 Japan
4.5 ROW
      4.5.1 OVERVIEW
            4.5.1.1 Egypt
            4.5.1.2 Israel
            4.5.1.3 Morocco
            4.5.1.4 South Africa
      4.5.2 DRIVERS, RESTRAINTS & OPPORTUNITIES
            4.5.2.1 Egypt
                    4.5.2.1.1 Health care reform
                    4.5.2.1.2 Red Tapism
                    4.5.2.1.3 Non-transparency
            4.5.2.2 Israel
                    4.5.2.2.1 Over burdened hospitals require advanced facilities
                    4.5.2.2.2 Growing medical tourism
                    4.5.2.2.3 Government investment in healthcare
            4.5.2.3 Morocco
                    4.5.2.3.1 Increasing population & need of advanced healthcare system
                    4.5.2.3.2 Increasing government spending in healthcare
            4.5.2.4 South Africa
                    4.5.2.4.1 Incoming plans to develop new hospitals
                    4.5.2.4.2 Increasing chronic disease population
      4.5.3 REGULATIONS
            4.5.3.1 Egypt
            4.5.3.2 Israel
            4.5.3.3 Morocco
            4.5.3.4 South Africa

5 COMPETITIVE LANDSCAPE
5.1 INTRODUCTION
5.2 MAGNETIC RESONANCE IMAGING (MRI)
5.3 X-RAY
5.4 COMPUTED TOMOGRAPHY(CT)
5.5 ULTRASOUND
5.6 NUCLEAR IMAGING

6 COMPANY PROFILES
6.1 AGFA-GEVAERT N.V. (AGFA)
      6.1.1 OVERVIEW
      6.1.2 FINANCIALS
      6.1.3 PRODUCTS & SERVICES
      6.1.4 STRATEGY
      6.1.5 DEVELOPMENTS
6.2 ALOKA INC
      6.2.1 OVERVIEW
      6.2.2 FINANCIALS
      6.2.3 PRODUCTS & SERVICES
      6.2.4 STRATEGY
      6.2.5 DEVELOPMENTS
6.3 BRACCO IMAGING S.P.A.
      6.3.1 OVERVIEW
      6.3.2 FINANCIALS
      6.3.3 PRODUCTS & SERVICES
      6.3.4 STRATEGY
      6.3.5 DEVELOPMENTS
6.4 CARESTREAM HEALTH
      6.4.1 OVERVIEW
      6.4.2 FINANCIALS
      6.4.3 PRODUCTS & SERVICES
      6.4.4 STRATEGY
      6.4.5 DEVELOPMENTS
6.5 ESOATE S.P.A.
      6.5.1 OVERVIEW
      6.5.2 FINANCIALS
      6.5.3 PRODUCTS & SERVICES
      6.5.4 STRATEGY
      6.5.5 DEVELOPMENTS
6.6 FUJIFILM HOLDINGS CORP
      6.6.1 OVERVIEW
      6.6.2 FINANCIALS
      6.6.3 PRODUCTS & SERVICES
      6.6.4 STRATEGY
      6.6.5 DEVELOPMENTS
6.7 GE HEALTHCARE
      6.7.1 OVERVIEW
      6.7.2 FINANCIALS
      6.7.3 PRODUCTS & SERVICES
      6.7.4 STRATEGY
      6.7.5 DEVELOPMENTS
6.8 HITACHI LTD
      6.8.1 OVERVIEW
      6.8.2 FINANCIALS
      6.8.3 PRODUCTS & SERVICES
      6.8.4 STRATEGY
      6.8.5 DEVELOPMENTS
6.9 HOLOGIC INC
      6.9.1 OVERVIEW
      6.9.2 PRODUCT & SERVICES
      6.9.3 FINANCIALS
      6.9.4 STRATEGY
      6.9.5 DEVELOPMENTS
6.1 MEDRAD INC
      6.10.1 OVERVIEW
      6.10.2 FINANCIALS
      6.10.3 PRODUCTS & SERVICES
      6.10.4 STRATEGY
      6.10.5 DEVELOPMENTS
6.11 MINDRAY MEDICAL INTERNATIONAL LTD (MINDRAY)
      6.11.1 OVERVIEW
      6.11.2 FINANCIALS
      6.11.3 PRODUCTS & SERVICES
      6.11.4 STRATEGY
      6.11.5 DEVELOPMENTS
6.12 PHILIPS HEALTHCARE
      6.12.1 OVERVIEW
      6.12.2 FINANCIALS
      6.12.3 PRODUCTS & SERVICES
      6.12.4 STRATEGY
      6.12.5 DEVELOPMENTS
6.13 SHIMADZU CORP
      6.13.1 OVERVIEW
      6.13.2 FINANCIALS
      6.13.3 PRODUCTS & SERVICES
      6.13.4 STRATEGY
      6.13.5 DEVELOPMENTS
6.14 SIEMENS HEALTHCARE
      6.14.1 OVERVIEW
      6.14.2 FINANCIALS
      6.14.3 PRODUCTS & SERVICES
      6.14.4 STRATEGY
      6.14.5 DEVELOPMENTS
6.15 SONOSITE INC
      6.15.1 OVERVIEW
      6.15.2 FINANCIALS
      6.15.3 PRODUCTS & SERVICES
      6.15.4 STRATEGY
      6.15.5 DEVELOPMENTS
6.16 TOSHIBA AMERICA MEDICAL SYSTEMS INC
      6.16.1 OVERVIEW
      6.16.2 FINANCIALS
      6.16.3 PRODUCTS & SERVICES
      6.16.4 STRATEGY
      6.16.5 DEVELOPMENTS

LIST OF TABLES

TABLE 1 DIAGNOSTIC IMAGING MARKET REVENUE, BY GEOGRAPHY, 2009 - 2016 ($BILLION)
TABLE 2 X-RAY MARKET REVENUE, BY GEOGRAPHY, 2009 - 2016 ($BILLION)
TABLE 3 GENERAL X-RAY: TRENDS & DEVELOPMENTS
TABLE 4 CARDIOVASCULAR X-RAY: TRENDS & DEVELOPMENTS
TABLE 5 COMPUTED TOMOGRAPHY MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($BILLION)
TABLE 6 COMPUTED TOMOGRAPHY MARKET REVENUE, BY TYPES, 2009 – 2016 ($BILLION)
TABLE 7 CT: TRENDS & DEVELOPMENTS
TABLE 8 MRI MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($BILLION)
TABLE 9 MRI MARKET REVENUE, BY TYPES, 2009 – 2016 ($BILLION)
TABLE 10 MRI MARKET REVENUE, BY FIELD TYPES, 2009 – 2016 ($BILLION)
TABLE 11 MRI: TRENDS & DEVELOPMENTS
TABLE 12 ULTRASOUND MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($BILLION)
TABLE 13 ULTRASOUND: TRENDS & DEVELOPMENTS
TABLE 14 NUCLEAR IMAGING MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($BILLION)
TABLE 15 NUCLEAR MEDICINE: TRENDS & DEVELOPMENTS
TABLE 16 POWER INJECTABLES: TRENDS & DEVELOPMENTS
TABLE 17 DIAGNOSTIC MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($BILLION)
TABLE 18 AMERICAS: DIAGNOSTIC MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($BILLION)
TABLE 19 AMERICAS: CT UNITS INSTALLATION, BY COUNTRIES, 2007 – 2009 (UNITS PER MILLION POPULATION)
TABLE 20 AMERICAS: MRI INSTALLATION, BY COUNTRIES, 2007 – 2009 (UNITS PER MILLION POPULATION)
TABLE 21 EUROPE: DIAGNOSTIC IMAGING MARKET, BY GEOGRAPHY, 2009 - 2016 ($BILLION)
TABLE 22 EUROPE: CT UNITS INSTALLATION,BY COUNTRIES, 2007 – 2009 (UNITS PER MILLION OF POPULATION)
TABLE 23 EUROPE: MRI UNITS INSTALLATION, BY COUNTRIES, 2007 – 2009 (UNITS PER MILLION OF POPULATION)
TABLE 24 WESTERN DIAGNOSTIC IMAGING MARKET, BY COUNTRIES, 2009 – 2016 ($BILLION)
TABLE 25 ASIA-PACIFIC: DIAGNOSTIC IMAGING MARKET REVENUE, BY COUNTRIES, 2009 – 2016 ($BILLION)
TABLE 26 ASIA-PACIFIC: CT UNITS INSTALLATION, BY COUNTRIES, 2007 – 2009 (UNITS PER MILLION OF POPULATION)
TABLE 27 ASIA-PACIFIC: MRI UNITS INSTALLATION, BY COUNTRIES, 2007 – 2009 (UNITS PER MILLION OF POPULATION)
TABLE 28 CHINA: DIAGNOSTIC IMAGING MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($BILLION)
TABLE 29 INDIA: DIAGNOSTIC IMAGING MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($BILLION)
TABLE 30 JAPAN: DIAGNOSTIC IMAGING MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($BILLION)
TABLE 31 ROW: DIAGNOSTIC IMAGING MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($BILLION)
TABLE 32 TOTAL MARKET REVENUE AND R&D EXPENSES FOR FISCAL YEAR ENDED MARCH 31 ($BILLION)
TABLE 33 AGFA: MARKET REVENUE, BY GEOGRAPHY, 2010 ($BILLION)
TABLE 34 AGFA: MARKET REVENUE BREAK UP, BY SEGMENTS, 2010 ($BILLION)
TABLE 35 FUJIFILM: TOTAL MARKET REVENUE AND R&D EXPENSES FOR FISCAL YEAR ENDED MARCH 31 ($BILLION)
TABLE 36 FUJIFILM: MARKET REVENUE SPILT, BY GEOGRAPHY, 2010 ($BILLION)
TABLE 37 FUJIFILM: TOTAL MARKET REVENUE SPLIT, BY SEGMENTS, 2010 ($BILLION)
TABLE 38 GE HEALTHCARE: TOTAL REVENUE& R&D EXPENSES, 2008 - 2010 ($BILLION)
TABLE 39 GE HEALTHCARE: SALES, BY GEOGRAPHY, 2008 - 2010 ($BILLION)
TABLE 40 GE HEALTHCARE: MARKET REVENUE, BY BUSINESS SEGMENTS, 2008 - 2010 ($MILLION)
TABLE 41 GE HEALTHCARE: MARKET REVENUE, BY TECHNOLOGY INFRASTRUCTURE SEGMENTS, 2008 - 2010 ($MILLION)
TABLE 42 HITACHI MEDICAL CORP: TOTAL SALES AND R&D EXPENSES, 2007 – 2009 ($MILLION)
TABLE 43 HITACHI MEDICAL CORP: TOTAL SALES, BY GEOGRAPHY, 2007 – 2009 ($MILLION)
TABLE 44 HITACHI MEDICAL CORP: TOTAL SALES, BY SEGMENT, 2007 - 2009 ($MILLION)
TABLE 45 HOLOGIC: MARKET REVENUE, 2008 - 2010 ($MILLION)
TABLE 46 HOLOGIC: MARKET REVENUE, BY BUSINESS SEGMENTS, 2008 – 2010 ($MILLION)
TABLE 47 HOLOGIC: MARKET REVENUE, BY GEOGRAPHY, 2008 – 2010 ($MILLION)
TABLE 48 MINDRAY: TOTAL REVENUE AND R&D EXPENSES, 2008 – 2010 ($BILLION)
TABLE 49 MINDRAY: MARKET REVENUE, BY GEOGRAPHY, 2008 – 2010 ($BILLION)
TABLE 50 MINDRAY: MARKET REVENUE, BY SEGMENT, 2008 – 2010 ($MILLION)
TABLE 51 PHILIPS HEALTHCARE: REVENUE & R&D EXPENSES, 2008 - 2010 ($BILLION)
TABLE 52 PHILIPS HEALTHCARE: SALES, BY GEOGRAPHY, 2008 - 2010 ($BILLION)
TABLE 53 SHIMADZU: MARKET REVENUE, 2008 – 2010 ($MILLION)
TABLE 54 SHIMADZU: MARKET REVENUE, BY BUSINESS SEGMENTS, 2008 – 2010 ($MILLION)
TABLE 55 SHIMADZU: MARKET REVENUE, BY GEOGRAPHY, 2008 – 2010 ($MILLION)
TABLE 56 SIEMENS: REVENUE & R&D EXPENCES ($MILLION)
TABLE 57 SIEMENS: REVENUE, BY SEGMENTS ($MILLION)
TABLE 58 SIEMENS: REVENUE, BY SEGMENTS ($MILLION)
TABLE 59 SONOSITE INC: TOTAL REVENUE & R&D EXPENSES ($MILLION)
TABLE 60 SONOSITE INC: REVENUE, BY GEOGRAPHY ($MILLION)

LIST OF FIGURES

FIGURE 1 MEDICAL DEVICE MARKET, BY GEOGRAPHY, 2010
FIGURE 2 MEDICAL DEVICE MARKET, BY TYPES
FIGURE 3 MEDICAL IMAGING MARKET, BY GEOGRAPHY
FIGURE 4 IMPACT ANALYSIS ON IMAGING MARKET
FIGURE 5 BREAKUP OF IMAGING MARKET MODALITIES
FIGURE 6 BREAKUP OF X-RAY MARKET IN PERCENTAGE, 2010
FIGURE 7 DIAGNOSTIC MARKET SHARE, BY GEOGRAPHY, 2010
FIGURE 8 AMERICAS: DIAGNOSTIC IMAGING MARKET, BY GEOGRAPHY, 2010
FIGURE 9 U.S: POPULATION TRENDS, 1950 – 2030 (MILLION)
FIGURE 10 CHRONIC DISEASE POPULATION (BILLION) & RELATED COST (MILLION), 1995 – 2030
FIGURE 11 GLOBAL DIAGNOSTIC IMAGING MARKET SHARE, 2010
FIGURE 12 GLOBAL MRI MARKET SHARE, 2010
FIGURE 13 GLOBAL COMPUTED TOMOGRAPHY MARKET SHARE, 2010
FIGURE 14 GLOBAL ULTRASOUND MARKET, 2010
FIGURE 15 GLOBAL NUCLEAR IMAGING MARKET SHARE, 2010

Global Diagnostic Imaging Market estimated to reach $26.6 billion by 2016

Global diagnostic imaging market holds a significant share of the medical device industry as awareness about the early screening of disease is increasing. CT and MRI Scans are expected to drastically improve the diagnostic imaging market scenario. This study analyses the competitive scenario of the world diagnostic imaging market and the strategies employed by the key industry players to develop products and services.

The world diagnostic imaging market is one of the fastest growing markets in the healthcare industry. The industry is being impacted by the huge stimulus on the part of government and continuous development in technology that lead to the introduction of innovative products.

Many products have either vanished or are on the verge of vanishing from the market. For example, the market of low field MRI will rapidly decrease with a negative CAGR of 2.63% in the coming five years, the market is expected to be replaced with high field MRI that is much more efficient and can produce high resolution images in a shorter time. Another example is the introduction of portable ultrasound that can be useful to the mobile doctors and healthcare workers in the field. Multi Slice CT scan, digital radiography, and nuclear medicine fusion are the other important technologies rapidly gaining presence in the market.

MEDICAL DEVICE MARKET, BY GEOGRAPHY, 2010

Diagnostic Imaging Market
Source: Expert Interviews, Annual reports, MarketsandMarkets analysis

Developed nations constitute the majority of the imaging market but emerging nations such as India and China are expected to be the next powerhouse of the imaging market. Developing nations are exhibiting growth of 8% over the past few years and are expected to grow with the same pace in the coming years. Asia-Pacific region is expected to surpass Europe, the second largest market after U.S.

Many developed nations are confronting rising aging population (age over 65), for instance it is expected that in the U.S., aged population will constitute around 33% of the total population by the year 2030. Aging population requires more diagnostic treatment for a longer period of time; which is thus expected to drive the imaging market.

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