Medical imaging market, which represents the largest segment within the global medical devices market, has witnessed significant growth in the last decade and the trend is set to persist in the foreseeable future. Medical imaging market consists of X-ray, Ultrasound, Computed Tomography, Positron Emission Tomography, Magnetic Resonance Imaging, Nuclear Medicine, Mammography and Fluoroscopy.
Despite of saturation, North America represents the largest market for medical imaging products as of 2011. However, the future growth of the market is expected to be driven by other markets like China, Japan, Australia, and France, as these countries are experiencing significant improvements in the healthcare services majorly on the back of government intervention.
The growth of medical imaging products in China is dependent on major cities in the country, where massive growth has taken place and people have higher disposable income to afford the expensive medical imaging procedures. However, in the rural parts of China the penetration level of imaging products is still low.
The major players in the global medical imaging market include General Electric, Siemens, Philips, and Hitachi Medical. Recent technological advancements combined with aging population, urbanization, and growing consumer income have propelled the growth of the market. However, the growing need for medical data storage and chances of misuse of medical data will continue to challenge the growth of the market.
The report provides an analysis of the global medical imaging market. It also discusses major market trends, growth drivers and challenges for medical imaging. The report presents the competitive structure of the industry and profiles major players with a discussion of their key business strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.