The global market for medical imaging systems is expected to reach USD 37.83 billion by 2020, according to a new study by Grand View Research, Inc. Increasing geriatric population base augmenting the susceptibility of patients towards chronic diseases such as cardiovascular, orthopedic and respiratory diseases coupled with increasing patient awareness levels is expected to drive market growth over the next six years. Some of the other drivers for this market include growing demand for refurbished and retrofitted devices, introduction of digital and portable X-ray systems and increasing adoption rates of PACS in healthcare establishments as a cost effective and technologically advanced alternative.
X-ray equipment dominated the overall market in terms of share in 2013, with market revenue valued at USD 8.1 billion. Increasing demand for home healthcare, reduction in handling and maintenance cost post the introduction of handheld and portable devices are some of the factors accounting for X-ray equipment demand growth. Ultrasound systems followed X-ray in 2013 accounting for a revenue share of over 23% on account of the rising demand for portable and mobile devices.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global medical imaging systems market on the basis of product, technology and region:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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