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Global medical imaging equipment market size was valued at USD 30,814.2 Million in 2017 and is Projected to be Valued at USD 44,077.7 Million by 2025, Exhibiting a CAGR of 4.6% From 2018-2025.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Medical Imaging Equipment market.

Trusted Business Insights presents an updated and Latest Study on Medical Imaging Equipment Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Medical Imaging Equipment market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Medical Imaging Equipment Market Size, Share and Industry Analysis by Type (Magnetic Resonance Imaging Equipment, Computed Tomography Equipment, X-ray Equipment, Ultrasound Equipment Molecular Imaging Equipment), By Application (Cardiology, Neurology, Orthopedics, Gynecology, Oncology), By End User (Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Others) and Regional Forecast, 2020 – 2029 (Includes COVID-19 Business Impact)

The global medical imaging equipment market size was valued at USD 30,814.2 Million in 2017 and is Projected to be Valued at USD 44,077.7 Million by 2025, Exhibiting a CAGR of 4.6% From 2018-2025.

We have updated Medical Imaging Equipment Market with respect to COVID-19 Impact.
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Increasing incidence of chronic and lifestyle diseases including cancer, cardiovascular diseases, and orthopedic disorders among the general population is presenting a large patient pool undergoing diagnostic imaging procedures globally. A rapidly aging population especially in Europe and Asia Pacific countries is presenting a pool of patient population suffering from age-related disorders.
This, combined with an increasing emphasis of regional and national governments towards early diagnosis aiming to reduce overall healthcare costs, is driving the number of patients undergoing MRI, CT and X-ray scans globally. The global medical imaging equipment market is projected to exhibit moderate CAGR during the forecast period.

Market Segmentation

“”Rising Demand for Ultrasound Equipment in Emerging Countries Driving the Segment in 2017″”

Market players operating in the global medical imaging equipment market, are constantly focused towards offering innovative products with improved functional and clinical benefits, with an aim to keep up to the pace of ever-rising demands of the market. New ergonomic models with clinical supremacy being introduced in the market such as portable ultrasound, C-arms with X-ray flat panel detectors and 7T MRI machines, are a result of the unmet needs and growing demands for advanced equipment from healthcare settings globally. Among the types, the ultrasound equipment segment accounted for 22.9% share of the market in 2017.

On the basis of application, the global market is segmented into oncology, cardiology, orthopedics, gynecology, neurology, and others. Increasing incidence of cancer globally, along with a rising emphasis on early detection and diagnosis of cancer, and improving access to healthcare facilities and diagnostic imaging centers in emerging countries, are some of the major factors projected to drive the comparatively higher CAGR of oncology application segment in the medical imaging equipment market during 2018-2025.

On the basis of the end user, the market is segmented into hospitals, specialty clinics, diagnostic imaging centers, and others. An increasing number of diagnostic imaging centers in developed and emerging countries owing to consolidation in the global market is projected to drive the diagnostic imaging centers in the global market.

Regional Analysis

“”Higher Adoption of New and Technologically Advanced Systems in the U.S., is Driving the Market in North America””

In November 2018, Siemens Healthcare GmbH introduced two new magnetic resonance imaging scanners at the Radiology Society of North America (RSNA 2018) conference. The two new scanners are based on the proprietary Biomatrix technology concept of Siemens Healthcare GmbH.

New products being offered in the market, combined with an aging installed base of medical imaging equipment in the U.S., is leading to increasing adoption of advanced systems in the country. This, along with the increasing number of patients undergoing diagnostic imaging procedures in the country, is propelling the medical imaging equipment market growth in the U.S.

Chinese manufacturers and other regional players entering the lucrative U.S. market is projected to further augment the medical imaging equipment market growth in North America. The region generated revenue of USD 7,993.4 Mn in 2017 and is expected to register a moderate CAGR during the forecast period.
North America Medical Imaging Equipment Market, 2017

Key Market Drivers

“”Strong Portfolio, Widespread Distribution Network, and Strong Brand Presence of Major Players Have Resulted in a Consolidated Market in 2017. “”

The market is a consolidated with top 3-5 players accounting for more than a third of the medical imaging equipment market share in 2017. General Electric Company, Koninklijke Philips N.V., and Siemens Healthcare GmbH are among the leading players in the global medical imaging equipment market in 2017. A diverse portfolio of medical imaging equipment, combined with a strong and widespread distribution network globally, are some of the major factors attributed to the dominance of these players in the global market. However, an increasing number of domestic players entering the market with innovative product offerings are anticipated to challenge the dominance of these players during 2018-2025.

Key companies covered in the report

  • GENERAL ELECTRIC COMPANY
  • Hitachi, Ltd.
  • Shimadzu Corporation
  • Siemens Healthcare GmbH
  • Koninklijke Philips N.V.
  • Supersonic Imagine
  • Hologic, Inc.
  • SAMSUNG
  • Fujifilm Holdings Corporation
  • Other Prominent Players

Report Overview

An aging installed base of medical imaging equipment, especially X-ray equipment, and ultrasound equipment in emerging countries, is driving the demand, and consumption of replacement unit shipments of x-ray and ultrasound equipment in these countries. This combined with a developing healthcare infrastructure in these countries is leading to increasing demand for new unit shipments of different modalities of medical imaging equipment in the global market. The global medical imaging equipment market is characterized by higher demand for replacement units from developed countries, and increasing demand for replacement and new units from emerging countries in 2017.

The report provides qualitative and quantitative insights on medical imaging equipment industry and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented as per type, application, and end user. On the basis of type, the global medical imaging equipment market is further segmented into magnetic resonance imaging equipment, computed tomography equipment, x-ray equipment, ultrasound equipment, and molecular imaging equipment.
On the basis of application, the market is segmented into gynecology, neurology, oncology, orthopedics, cardiology, and others. On the basis of the end user, the global medical imaging equipment market is segmented into hospitals, specialty clinics, diagnostic imaging centers, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.

Along with this, the report provides an elaborative analysis of market dynamics and competitive landscape. Additionally, the report offers insights on the prevalence of key disease indications (cardiovascular diseases, oncology, orthopedic diseases, etc.) for key countries/region, recent industry developments such as partnerships, mergers & acquisitions, the regulatory framework by key countries, and pricing analysis for key brands/players.

SEGMENTATION

By Type

  • ·         Magnetic Resonance Imaging Equipment
  • ·         Computed Tomography Equipment
  • ·         X-ray Equipment
  • ·         Ultrasound Equipment
  • ·         Molecular Imaging Equipment

By Application

  • ·         Cardiology
  • ·         Neurology
  • ·         Orthopedics
  • ·         Gynecology
  • ·         Oncology
  • ·          Others

By End User

  • ·         Hospitals
  • ·         Specialty Clinics
  • ·         Diagnostic Imaging Centers
  • ·         Others

By Geography

  • ·      North America (USA and Canada)
  • ·      Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • ·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • ·      Latin America (Brazil, Mexico and Rest of Latin America)
  • ·      Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

Key Industry Developments

In November 2018, Siemens Healthcare GmbH, announced the launch of Magnetom Altea 1.5T, and Magnetom Lumina 3T MRI scanners at the Radiology Society of North America (RSNA) meeting.

In March 2018, Koninklijke Philips N.V., announced the launch of its new 3T MRI scanner Ingenia Edition 3.0 at the European Congress of Radiology (ECR) 2018.

In March 2018, Siemens Healthcare GmbH, announced the launch of a new ultrasound system, Acuson Juniper, a compact ultrasound machine at the European Congress of Radiology (ECR 2018), held in Vienna, Austria.

 

Looking for more? Check out our repository for all available reports on Medical Imaging Equipment in related sectors.

Quick Read Table of Contents of this Report @ Medical Imaging Equipment Market Size, Share and Industry Analysis by Type (Magnetic Resonance Imaging Equipment, Computed Tomography Equipment, X-ray Equipment, Ultrasound Equipment Molecular Imaging Equipment), By Application (Cardiology, Neurology, Orthopedics, Gynecology, Oncology), By End User (Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Others) and Regional Forecast, 2020 – 2029 (Includes COVID-19 Business Impact)

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Analysis Forecast Market Price Analysis News

Medical Imaging Equipment Market Size, Trends, Shares, Insights and Forecast 2023

market-research-report

According to a new market report published by Persistence Market Research “Global Market Study on Medical Imaging Equipment,” the global medical imaging equipment market was valued at US$ 29.4 Bn in 2015 and is expected to reach US$ 45.3 Bn by 2023, growing at a CAGR of 5.6% during the forecast period from 2015 to 2023.

Improvement in health care reforms in major countries such as Japan, the U.S., China, and U.K. has enhanced access to various diagnostic and treatment services thereby increasing life expectancy of the population. Rise in geriatric population is expected to intensify the need for healthcare products and services in these countries. Moreover, the rising incidence of diseases across the globe continue to increase the demand for diagnosis equipment, particularly non-invasive imaging solutions.

Get Sample Copy of Report @ https://www.persistencemarketresearch.com/samples/11215

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,

Get To Know Methodology of Report @ https://www.persistencemarketresearch.com/methodology/11215

According to the World Health Organization (WHO), an estimated 17.5 Mn people died due to cardiovascular diseases in 2012, accounting for approximately 31% of global deaths. Moreover, 235 Mn people were diagnosed with asthma across the world in 2014.

On account of all these factors, the global medical imaging equipment market is expected to grow at a CAGR of 5.6% during the forecast period from 2015 to 2023. The market is driven by the major developed economies of the U.S., Europe, and Asia Pacific. However, emerging markets, particularly, China, India and Brazil are expected to be the fastest growing market in terms of CAGR during the forecast period.

With a share of more than 30% in 2015, North America was the largest market for medical imaging equipment primarily due to high awareness about medical imaging devices financial capability to purchase expensive machines, rising demand for technologically advanced and innovative products in hospitals, diagnostics laboratories and outpatient ambulatory surgery centers, and high investment in improving healthcare infrastructure.

Obesity is one of the major causes of several diseases of cardiovascular system that has led to increase in demand for diagnostic imaging in the U.S. According to the Centers for Disease Control and Prevention (CDC), the percentage of obese children aged between 6 years and 11 years increased from 7% in 1980 to 18% in 2012 in the U.S. In addition, increasing healthcare expenditure in the U.S. in recent years has also assisted in dramatic rise in the usage of medical imaging.

Access Full Report @ https://www.persistencemarketresearch.com/checkout/11215

Emerging economies such as China, India, Indonesia, Malaysia, Singapore and Thailand are providing much needed boost to the medical imaging equipment market. The Asia Pacific market is driven by demand for refurbished imaging systems as more equipment are needed with less funds dedicated to healthcare budgets. However, demand for new devices that offer superior imaging, speed, flexibility and portability are also being adopted in China and India, countries with the largest market potential.

Europe was ranked third, in terms of market size, after North America and Asia Pacific. Demand in the region is similar to North America, wherein demand for advanced equipment for all modalities is higher. Western Europe, which includes major economies such as Germany, U.K., France, and Italy, holds a major share in the region.

Others markets on the global map include Latin America and Middle East & Africa. As the markets in the developed world are becoming saturated, most the market players are focusing on emerging markets in Brazil and member states of Gulf Cooperation Council. Looking at the proximity of Brazil to the U.S., major market players find it convenient to have manufacturing facilities in Brazil.

Therefore, the Latin America market is poised to grow rapidly. In addition, the government efforts in GCC member states to invest in improving the healthcare infrastructure and promote medical tourism are facilitating the demand for newer medical imaging equipment.

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Medical Imaging Equipment Market : Insights by Size, Status and Forecast 2026

Coherent Market Insights announced that it’s published an exclusive report namely Global Medical Imaging Equipment Market by Manufacturers, Regions, Type, and Application, Forecast to 2027 in its research database with report summary, table of content, research methodologies, and data sources. The research study offers a substantial knowledge platform for entrants and investors as well as veteran companies, manufacturers functioning in the Worldwide Medical Imaging Equipment Market. This is an informative study covering the market with an in-depth analysis and portraying the current state of affairs in the industry.

Download PDF Brochure Of This Report @ https://www.coherentmarketinsights.com/insight/request-pdf/3978

The report presents an overview of Medical Imaging Equipment Market consist of objectives study and definition of Medical Imaging Equipment. The next section focuses on market size, region-wise Medical Imaging Equipment growth rate estimation from 2020-2027.

This research report categorizes the global market by players/brands, regions, types, and applications. This report also studies the global market status, competition landscape, Market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors, and Porter’s Five Forces Analysis.

Key Manufacturers Analysis: Carestream Health, Inc., Fonar Corporation, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., Philips Healthcare, Samsung Medison Co. Ltd., Shimadzu Corporation, Siemens Healthcare, EOS Imaging SA, Qynapse, Aurora Imaging Technologies, Inc., DePuy Synthes, Aspenstate, Sectra AB, and Toshiba Corporation.

The top manufacturers, exporters, and retailers (if applicable) around the world are analyzed for this research report with respect to their company profile, product portfolio, capacity, price, cost, and revenue.

Medical Imaging Equipment Market 2020 Forecast to 2027 Market Segment by Regions, regional analysis covers

  • North America (the USA, Canada, and Mexico)
  • Europe (Germany, France, UK, Russia, and Italy)
  • Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
  • South America (Brazil, Argentina, Columbia, etc.)
  • The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Following market aspects are enfolded in Global Medical Imaging Equipment Market Report:

• A wide summarization of the Global Medical Imaging Equipment Market.
• The present and forecasted regional market size data based on applications, types, and regions.
• Market trends, drivers, and challenges for the Global Medical Imaging Equipment Market.
• Analysis of company profiles of Top major players functioning in the market.

Medical Imaging Equipment Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Medical Imaging Equipment Market players in detail. Medical Imaging Equipment Market report gives key bits of the Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry. 

Key questions answered in Report:-

‣ Medical Imaging Equipment Business Analysis Including Size, Share, Key Drivers, Growth Opportunities and Trends 2020- 2027
‣ Consumption Analysis of Medical Imaging Equipment, Guidelines Overview and Upcoming Trends Forecast till 2027
Medical Imaging Equipment Market Top Companies Sales, Price, Revenue and Market Share Outlook
‣ Medical Imaging Equipment Revenue, Key Players, Supply-Demand, Investment Feasibility and Forecast 2027
‣ Analytical Overview, Growth Factors, Demand and Trends
‣ Medical Imaging Equipment by Technology, Opportunity Analysis and Industry Forecasts, 2020- 2027
‣ Analysis Covering Market Size, Growth Factors, Demand, Trends and Forecast
‣ Medical Imaging Equipment Overview, Raw Materials Analysis, Market Drivers and Opportunities
‣ In-depth Research on Market Size, Trends, Emerging Growth Factors and Forecasts.

Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.

About Coherent Market Insights

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Analysis Forecast Market Price Analysis News

Medical Imaging Equipment Market by Product, Delivery mode and End User | COVID-19 Impact Analysis

According to a new market report published by Persistence Market Research “Global Market Study on Medical Imaging Equipment,” the global medical imaging equipment market was valued at US$ 29.4 Bn in 2015 and is expected to reach US$ 45.3 Bn by 2023, growing at a CAGR of 5.6% during the forecast period from 2015 to 2023.

Improvement in health care reforms in major countries such as Japan, the U.S., China, and U.K. has enhanced access to various diagnostic and treatment services thereby increasing life expectancy of the population. Rise in geriatric population is expected to intensify the need for healthcare products and services in these countries. Moreover, the rising incidence of diseases across the globe continue to increase the demand for diagnosis equipment, particularly non-invasive imaging solutions.

Get Sample Copy of Report @ https://www.persistencemarketresearch.com/samples/11215

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,

Get To Know Methodology of Report @ https://www.persistencemarketresearch.com/methodology/11215

According to the World Health Organization (WHO), an estimated 17.5 Mn people died due to cardiovascular diseases in 2012, accounting for approximately 31% of global deaths. Moreover, 235 Mn people were diagnosed with asthma across the world in 2014.

On account of all these factors, the global medical imaging equipment market is expected to grow at a CAGR of 5.6% during the forecast period from 2015 to 2023. The market is driven by the major developed economies of the U.S., Europe, and Asia Pacific. However, emerging markets, particularly, China, India and Brazil are expected to be the fastest growing market in terms of CAGR during the forecast period.

With a share of more than 30% in 2015, North America was the largest market for medical imaging equipment primarily due to high awareness about medical imaging devices financial capability to purchase expensive machines, rising demand for technologically advanced and innovative products in hospitals, diagnostics laboratories and outpatient ambulatory surgery centers, and high investment in improving healthcare infrastructure.

Obesity is one of the major causes of several diseases of cardiovascular system that has led to increase in demand for diagnostic imaging in the U.S. According to the Centers for Disease Control and Prevention (CDC), the percentage of obese children aged between 6 years and 11 years increased from 7% in 1980 to 18% in 2012 in the U.S. In addition, increasing healthcare expenditure in the U.S. in recent years has also assisted in dramatic rise in the usage of medical imaging.

Access Full Report @ https://www.persistencemarketresearch.com/checkout/11215

Emerging economies such as China, India, Indonesia, Malaysia, Singapore and Thailand are providing much needed boost to the medical imaging equipment market. The Asia Pacific market is driven by demand for refurbished imaging systems as more equipment are needed with less funds dedicated to healthcare budgets. However, demand for new devices that offer superior imaging, speed, flexibility and portability are also being adopted in China and India, countries with the largest market potential.

Europe was ranked third, in terms of market size, after North America and Asia Pacific. Demand in the region is similar to North America, wherein demand for advanced equipment for all modalities is higher. Western Europe, which includes major economies such as Germany, U.K., France, and Italy, holds a major share in the region.

Others markets on the global map include Latin America and Middle East & Africa. As the markets in the developed world are becoming saturated, most the market players are focusing on emerging markets in Brazil and member states of Gulf Cooperation Council. Looking at the proximity of Brazil to the U.S., major market players find it convenient to have manufacturing facilities in Brazil.

Therefore, the Latin America market is poised to grow rapidly. In addition, the government efforts in GCC member states to invest in improving the healthcare infrastructure and promote medical tourism are facilitating the demand for newer medical imaging equipment.

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Coronavirus Market Reports

How Corona Pandemic will Impact Medical Imaging Equipment Market Business Opportunity, and Growth 2023

According to a new market report published by Persistence Market Research “Global Market Study on Medical Imaging Equipment,” the global medical imaging equipment market was valued at US$ 29.4 Bn in 2015 and is expected to reach US$ 45.3 Bn by 2023, growing at a CAGR of 5.6% during the forecast period from 2015 to 2023.

Improvement in health care reforms in major countries such as Japan, the U.S., China, and U.K. has enhanced access to various diagnostic and treatment services thereby increasing life expectancy of the population. Rise in geriatric population is expected to intensify the need for healthcare products and services in these countries. Moreover, the rising incidence of diseases across the globe continue to increase the demand for diagnosis equipment, particularly non-invasive imaging solutions.

Get Sample Copy of Report @ https://www.persistencemarketresearch.com/samples/11215

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,

Get To Know Methodology of Report @ https://www.persistencemarketresearch.com/methodology/11215

According to the World Health Organization (WHO), an estimated 17.5 Mn people died due to cardiovascular diseases in 2012, accounting for approximately 31% of global deaths. Moreover, 235 Mn people were diagnosed with asthma across the world in 2014.

On account of all these factors, the global medical imaging equipment market is expected to grow at a CAGR of 5.6% during the forecast period from 2015 to 2023. The market is driven by the major developed economies of the U.S., Europe, and Asia Pacific. However, emerging markets, particularly, China, India and Brazil are expected to be the fastest growing market in terms of CAGR during the forecast period.

With a share of more than 30% in 2015, North America was the largest market for medical imaging equipment primarily due to high awareness about medical imaging devices financial capability to purchase expensive machines, rising demand for technologically advanced and innovative products in hospitals, diagnostics laboratories and outpatient ambulatory surgery centers, and high investment in improving healthcare infrastructure.

Obesity is one of the major causes of several diseases of cardiovascular system that has led to increase in demand for diagnostic imaging in the U.S. According to the Centers for Disease Control and Prevention (CDC), the percentage of obese children aged between 6 years and 11 years increased from 7% in 1980 to 18% in 2012 in the U.S. In addition, increasing healthcare expenditure in the U.S. in recent years has also assisted in dramatic rise in the usage of medical imaging.

Access Full Report @ https://www.persistencemarketresearch.com/checkout/11215

Emerging economies such as China, India, Indonesia, Malaysia, Singapore and Thailand are providing much needed boost to the medical imaging equipment market. The Asia Pacific market is driven by demand for refurbished imaging systems as more equipment are needed with less funds dedicated to healthcare budgets. However, demand for new devices that offer superior imaging, speed, flexibility and portability are also being adopted in China and India, countries with the largest market potential.

Europe was ranked third, in terms of market size, after North America and Asia Pacific. Demand in the region is similar to North America, wherein demand for advanced equipment for all modalities is higher. Western Europe, which includes major economies such as Germany, U.K., France, and Italy, holds a major share in the region.

Others markets on the global map include Latin America and Middle East & Africa. As the markets in the developed world are becoming saturated, most the market players are focusing on emerging markets in Brazil and member states of Gulf Cooperation Council. Looking at the proximity of Brazil to the U.S., major market players find it convenient to have manufacturing facilities in Brazil.

Therefore, the Latin America market is poised to grow rapidly. In addition, the government efforts in GCC member states to invest in improving the healthcare infrastructure and promote medical tourism are facilitating the demand for newer medical imaging equipment.