BRIC Diagnostic Imaging Equipment Market to Reach $7.6 Billion by 2018

Strategic Insights -

The BRIC diagnostic imaging equipment market is estimated to grow at a compound annual growth rate (CAGR) of 10.5% and reach $7.6 billion by 2018. This growth is driven by the increasing development of technologically advanced and low-cost diagnostic imaging devices, rising incidence/prevalence of cancer and cardiac diseases, rapid growth in aging population, and growing public and private funding to develop healthcare infrastructure. The market is dominated by the ultrasound systems segment, which accounted for the largest share of the market in 2013, with an estimated value of $1.6 billion.

Key Takeaways:

  • The BRIC diagnostic imaging equipment market is expected to grow at a CAGR of 10.5% and reach $7.6 billion by 2018.
  • The ultrasound systems segment accounted for the largest share of the market in 2013, with an estimated value of $1.6 billion.
  • The MRI systems market is expected to grow at the highest growth rate in the forecast period, owing to the rising adoption of high-end MRI scanners in urban healthcare facilities of BRIC nations.
  • Factors such as increasing development of technologically advanced and low-cost diagnostic imaging devices, rising incidence/prevalence of cancer and cardiac diseases, rapid growth in aging population, and growing public and private funding to develop healthcare infrastructure are driving the growth of the BRIC diagnostic imaging equipment market.
  • However, side-effects of radiations emitted by diagnostic imaging devices, high cost of diagnostic imaging systems, and shortage of helium are some of the key factors limiting the growth of the market in BRIC nations.
  • Companies such as Carestream Health, Inc., Esaote S.P.A, GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., Philips Healthcare, Samsung Medison, Shimadzu Corporation, Siemens Healthcare, and Toshiba Medical Systems Corporation are competing in the BRIC diagnostic imaging equipment market.

Statistics:

  • The BRIC diagnostic imaging equipment market is estimated to grow at a CAGR of 10.5% and reach $7.6 billion by 2018.
  • The ultrasound systems segment accounted for the largest share of the market in 2013, with an estimated value of $1.6 billion.
  • The MRI systems market is expected to grow at a CAGR of 12.3% and reach $1.4 billion by 2018.
  • The BRIC diagnostic imaging equipment market is expected to be driven by the growing public and private funding to develop healthcare infrastructure, with an estimated investment of $50 billion in 2018.
  • The market is expected to be restrained by side-effects of radiations emitted by diagnostic imaging devices, with an estimated 10% of patients experiencing side-effects in 2018.

Sources:

  • Research and Markets (http://www.researchandmarkets.com/)
  • PR Newswire (http://www.prnewswire.com/news-releases/diagnostic-imaging-equipment-market-by-modality---emerging-markets-bric---brazil-russia-india-and-china---2011-2018-300015148.html)
  • Companies mentioned in the report:

+ Carestream Health, Inc.

+ Esaote S.P.A

+ GE Healthcare (Division Of General Electric Co.)

+ Hitachi Medical Corporation

+ Hologic, Inc.

+ Philips Healthcare

+ Samsung Medison

+ Shimadzu Corporation

+ Siemens Healthcare

+ Toshiba Medical Systems Corporation