Medical Imaging Market to Grow at 5% CAGR Driven by X-Rays Imaging to 2020

Source Press Release
Company Global MedicalSiemensVarian Medical SystemsNaviscanHologicPhilipsSonoSiteHitachiAnalogicBK MedicalMindray Medical InternationalEsaoteFUJIFILM HoldingsZONARE Medical SystemsSectraTeraReconMediso Medical Imaging Systems 
Date January 14, 2016

Medical Imaging Market to Grow at 5% CAGR Driven by X-Rays Imaging to 2020

PUNE, India, January 14, 2016 /PRNewswire/ --

The medical imaging market has high demand since procedures form the basis of diagnosis and also the treatment of various medical conditions. Market research analysts predict that the global medical imaging market 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 2016-2020.

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Eminent factors such as the advent of 4D medical imaging technology are forecast 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.

Tele imaging enables physicians to perform and interpret medical images in remote areas where the technology is difficult to reach. The technology in tele imaging has become advanced wherein the physicians/centers can share videos and images of ultrasound via the Internet using an IP camera and remote access software. Tele imaging reduces delays in patient care and will be efficient in handling the shortage of the physician's workforce.

According to the Global Medical Imaging Market 2016-2020 report, the global market is a very competitive environment, with high-tech innovation prevailing in the market. These increasing numbers of regulatory approvals worldwide for medical imaging systems will provide multiple options to the buyer, driving the growth of the global medical imaging market. Order a copy of Global Medical Imaging Market 2016-2020 report @

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.

They 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.

The global medical imaging market 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 medical imaging market are: Siemens , GE, Philips, Toshiba and Carestream. Other Prominent Vendors in the market are: 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

Further, the report states that market saturation and unfavorable reimbursement are a few such factors that can pose a challenge for the medical imaging market.

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Source: Evaluate™
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