Albany, NY -- (SBWIRE) -- 09/01/2017 -- Technavios market research analyst predicts that the global market for medical imaging will grow at a CAGR of nearly 5% by 2020. The growing focus on R&D to provide high-quality imaging for better diagnosis and treatment of diseases is a critical factor that drives the global demand for medical imaging devices during the forecast period.
In this market research, analysts have estimated eminent factors, such as the advent of 4D medical imaging technology, to spur market growth during the forecast period. Since 4D imaging technology enables doctors to create a 3D picture in real time, its augmented application in ultrasound systems will foster the prospects for growth in this market during the predicted period.
Product-based segmentation of the medical imaging market
- MRI
- CT Scanners
- General X-rays
- SPECT/PET
- Ultrasound
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The general X-ray imaging segment currently dominates the market and is anticipated to grow at a modest CAGR of more than 3% by 2020. Factors such as increased regulatory approvals of imaging systems, the advent of improved and rapid imaging technologies, and the growing focus on early diagnosis and treatment will lead to growth in this market segment during the forecast period.
Geographical segmentation and analysis of the medical imaging market
- Americas
- APAC
- EMEA
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Technavio market research analysts estimate the medical imaging market in APAC to grow at a CAGR of more than 8% by 2020. The introduction of government initiatives that focuses on the improvement of healthcare infrastructure in developing economies is a significant factor that results in this regions impressive market growth rate during the forecast period.
Competitive landscape and key vendors -
The global market for medical imaging is highly competitive due to the presence of many multinational companies that consistently focus on R&D to bring about product innovations. The major players in this market are focusing on value segments and advanced products that can provide high-quality imaging at a faster diagnosis time. This growing focus on value segments will help vendors to bolster product sales during the forecast period.
Leading vendors in the market are -
- Siemens
- GE
- Philips
- Toshiba
- Carestream
Other prominent vendors in the market include Hitachi Medical Corporation, Hologic, Esaote, Fujifilm Holdings, Sectra, Atlantis Worldwide, Imaging equipment, TeraRecon, Varian Medical Systems, Lupica Medical Systems, Fisher Medical Technologies, Medical imaging IMCO Inc., OREX Computed Radiography, Swissray, Mindray Medical International, Planmeca, Brain Biosciences, CMR Naviscan, Mediso Medical Imaging Systems, NIPK Electron, Analogic Corporation, Sonosite, Samsung Medison, TomTec, BK Medical, Zonare Medical Systems
Key questions answered in the report include:
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global medical imaging market?
- What are the key market trends impacting the growth of the global medical imaging market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global medical imaging market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the medical imaging market?
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