Global Medical Imaging Equipment Market to Reach US$ 31.1 Bn in 2016, North America to Remain the Largest Market: PMR Study

New York, June 30, 2016 (GLOBE NEWSWIRE) -- According to new report by Persistence Market Research - The global medical imaging equipment market was valued at US$ 29.4 Bn in 2015 and is expected to grow at a year-over-year rate of 5.9% to reach US$ 31.1 Bn in 2016. North America will continue to be the most lucrative market, accounting for 32.2% revenue share of the global market in 2015. The market in the region is fuelled by higher awareness about medical imaging equipment and better funding provisions for purchasing of these equipment.

Key drivers of the global medical imaging equipment market include growing prevalence of cardiovascular diseases and lung disorders. Demand is also growing on account of applications in diagnosing complex diseases, such as Parkinson’s disease and atherosclerosis. Rising geriatric population is also anticipated to fuel the growth of the market.

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On the basis of modality, X-rays are the most commonly used imaging technology and accounted for the highest share of the global medical imaging equipment market in terms of value. Adoption of digital X-ray imaging devises by medical practitioners, availability of portable X-ray imaging equipment and feasible logistic expenses is expected to further increase the popularity of this particular segment. In addition, the X-ray imaging technology is proving to be efficient in imaging during several types of surgeries. The X-rays modality segment is anticipated to grow by 4.8 % in 2016 to reach US$ 9,110.5 Mn in revenues.

Region-wise, the global medical imaging equipment market is segmented into North America & Latin America, Europe, Asia Pacific and Middle East & Africa. In addition to North America, Asia Pacific is another lucrative market for medical imaging equipment, with total revenues expected to reach US$ 9.4 Bn in 2016.

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Key participants in global imaging equipment market include, GE Healthcare, Shimadzu Corporation, Philips Healthcare, Genesis Medical Imaging inc., Hologic Inc., Siemens Healthcare, Samsung Medison Co. Ltd, Carestream Health Inc., Hitachi Medical Corporation, Fujifilm Holdings Corporation, Toshiba Corporation and Fonar Corporation. The medical imaging equipment market is highly capital intensive and requires development expenditure with huge funding for extensive electronic innovations in medical research.

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Summary: PMR offers market forecast and analysis on the global medical imaging equipment market. North America largest market for medical imaging equipment market globally.

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