Medical imaging equipment market to grow at 4% CAGR

The global medical imaging equipment market is forecast to reach US $25.3 billion by 2015. Driven by technological advances and demand from emerging economies, the market is set to grow at 4% compound annual growth rate (CAGR). Market restraints include a potential risk for cannibalisation of medical imaging equipment due to technological advances, and a growing market concern for radiation.

One of the key factors contributing to this market growth is the technological advancements in medical imaging equipment. The global medical imaging equipment market has also been witnessing the trend of increasing use of cloud computing. However, cannibalisation of the equipment could pose a challenge to the growth of this market.

Key vendors dominating this market space include GE Healthcare Ltd., Philips Healthcare, Siemens Healthcare, and Toshiba Medical System Corp.

Currently, healthcare organisations are focusing on consolidating and sharing their IT infrastructure using the cloud. Cloud-based services provide healthcare organisations with universal access to medical imaging data and other electronic medical information. This helps to minimise the time and the cost of these procedures. Moreover, cloud-based services help healthcare facilities and physicians share reports and information about patients.

The steep rise in the number of people suffering from critical diseases has led to an increase in the demand for medical imaging equipment. This is because it helps to accurately diagnose diseases. Hence, healthcare organisations are installing advanced medical imaging systems to provide faster and better diagnosis.

Furthermore, the rapid increase in the aging population across the globe has increased the number of people undergoing X-ray, Magnetic Resonance Imaging (MRI), and CT scan procedures. This is one of the major factors contributing to the growth of the global medical imaging equipment market.

For more information on the medical imaging equipment market, see the latest research: Medical Imaging Equipment Market Report

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