Medical Imaging Equipment Market
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Global <strong>Medical</strong> <strong>Imaging</strong> <strong>Equipment</strong> <strong>Market</strong>, 2015 - 2023<br />
Brazil<br />
Rest of Latin America<br />
Middle East and Africa (MEA)<br />
GCC Countries<br />
Rest of MEA<br />
<strong>Market</strong> Bytes:<br />
Advancements in 3D imaging technology has enabled development in computer-aided detection (CAD)<br />
and increased applications for imaging diagnostic applications. Moreover, rising incidence of several<br />
diseases such as respiratory, orthopedic, and cardiovascular has increased global demand for diagnosis<br />
and diagnostic equipment. The global medical imaging equipment market was valued at US$ 29.4 Bn in<br />
2015 and is projected to reach US$ 45.3 Bn by 2023, expanding at a CAGR of 5.6% during the forecast<br />
period from 2015 to 2023. <strong>Imaging</strong> devices such as magnetic resonance imaging (MRI), computed<br />
tomography (CT or CAT), and ultrasound have allowed further options for treatment guidance essentially<br />
with very low morbidity. This has resulted in highly improved outcomes and quality of life for the patients.<br />
Among all the product types, X-Ray devices, and ultrasound devices collectively accounted for around<br />
50% of the total market share in 2015. Factors such as changing buyer preferences due to rising demand<br />
for bedside monitoring and rise in the number of patients catered via urgent care centers and emergency<br />
medical services have increased demand for technologically-advanced X-ray systems. Digital X-ray<br />
systems have revolutionized X-ray imaging, and thus helped the upsurge of the existing sluggish mature<br />
X-ray imaging equipment segment. Factors such as increasing incidence of diseases diagnosed using<br />
this imaging technique (such as oral diseases and orthopedic conditions) and product enhancement and<br />
upgrade in the form of device portability are likely to drive the market. Moreover, digital X-ray systems are<br />
contributing to the growth of the market in terms of revenue due to surging demand for these products<br />
across the world. Newer and better imaging technologies such as nuclear imaging and computed<br />
tomography (CT) are expected to witness high adoption levels by the end of the forecast period.<br />
In 2015, the global portable X-ray devices market held more than 40% share in X-ray devices market and<br />
is expected to record significant growth during the forecast period. Portable X-ray devices have high<br />
adoption rates, especially in emergency departments and ICUs. The Stationary X-ray equipment is getting<br />
rapidly replaced by mobile and portable X-ray devices triggered by the shift in user preference towards<br />
Persistence <strong>Market</strong> Research 6
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