The global medical imaging device market is expected to exceed $49 billion by 2020, according to a recent report. Currently standing at an estimated $30.2 billion, it is on course to maintain a compound annual growth rate of 7%.
The report, compiled by Research and Markets, suggested there has been a marked shift towards emerging markets, with the Asia-Pacific region, Latin America, and Central and Eastern Europe proving particularly lucrative. Conditions such as cardiovascular disease are becoming more common in these regions, and demand has increased for medical imaging equipment in the clinical area. Conversely, in the saturated North American and European markets, demand has not been as high.
The study was comprehensive, profiling 50 medical imaging device manufacturers across the US and 39 in the rest of the world.
It reviewed the medical imaging device market on a worldwide and regional basis, with a wide range of product segments analysed: CT, MRI, PET, ultrasound, X-ray, nuclear imaging and PACS.