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Global X-Ray Market Exceeds 3 Billion Dollars: Kalorama
The world market for x-ray systems will grow from 3.6 billion to 4.23 billion in 2018, according to Kalorama Information.
"There are a number of issues that are motivating the need for medical imaging systems," said Joe Constance, author of the report. "But a key driver is the aging population. Today, one out of every eight Americans is considered old representing nearly 13% of the US population."
An aging population means more surgeries, chronic conditions and injuries requiring imaging for diagnosis, the report says. By region, the report says that x-ray markets in North America and Europe will continue to be dominant in terms of market share. But there will be growth opportunities in the BRIC nations. In addition, under-tapped Asian markets will offer new opportunities as well for market growth. Worldwide, growth can be attributed to a rise in aging populations, but specifically in developing countries, growth is attributable to improving health care infrastructures, and an increased demand for systems as regions become developed with new technology. In China, a significant driver of market growth is the country's drive for health care reform, which seeks to develop more market incentives for advances in health care technology, set in a backdrop of greater public-sector spending on hospitals, and the growth of private health care institutions.
Constance described Europe as a potential trouble area for manufacturers.
"While there always is a market for replacement systems, the European economic slowdown has made it difficult for hospitals to but new imaging systems," Constance said. "With their budgets cut but with an increasing number of procedures, health care institutions must spend less on new modalities and instead focus on purchasing refurbished imaging systems."
Kalorama's report, Medical Imaging Markets (X-Ray, CT, MRI, Ultrasound, PET, SPECT, Others) contains forecasts based on an examination of current market conditions and on investigations into the development of new products by key companies. The market data are generated into multiple year forecasts, based on interviews with executives in the field and analyses. The information presented in this report is the result of data gathered from company product literature and other corporate brochures and documents, as well as information found in the scientific and trade press. In addition, interviews were conducted with company executives and researchers. The report can be found at: http://www.kaloramainformation.com/
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter (http://www.twitter.com/
Page Updated Last on: Mar 12, 2014