(PharmaNewsWire.Com, March 24, 2021 ) The study involved four major activities to estimate the current size of the BRIC Diagnostic Imaging Equipment Market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
Recent Developments in Diagnostic Imaging Equipment Industry:
# In 2019, GE Healthcare (US) has launched ‘Vector CT Scan’ in China.
# In 2019, Hitachi, Ltd. (Japan) launched three new systems ARIETTA 65, ARIETTA 50, and ARIETTA 50 LE at the European Society of Radiology (ECR) in Russia.
# In 2019, Koninklijke Philips N.V. (Netherlands) launched the EPIQ Elite ultrasound system for general imaging as well as obstetrics & gynecology platforms in India.
# In 2018, Siemens Healthineers (Germany) introduced its Mammomat Revelation Mammography System and NX Series Ultrasound machines in India.
According MarketsandMarkets™ Research – The BRIC diagnostic imaging equipment market is projected to reach USD 8.3 billion by 2024 from USD 5.3 billion in 2019, at a CAGR of 9.2% during the forecast period
Based on modality, the diagnostic imaging equipment market is broadly segmented into six segments—X-ray imaging systems, CT scanners, ultrasound imaging systems, MRI systems, nuclear imaging systems, and mammography systems. The MRI systems segment held the largest share of the diagnostic imaging equipment market in 2018. This large share can be attributed to the growing demand for early and accurate diagnosis, high adoption of MRI systems by hospitals & diagnostic centers, and advances in technology.
On the basis of end users, the hospitals segment commanded the largest share of the BRIC diagnostic imaging equipment market in 2018. The large share of this segment can be attributed to the rising number of diagnostic imaging procedures performed in hospitals, growing inclination toward the automation and digitization of radiology patient workflow, and increasing adoption of minimally invasive procedures.
China is expected to grow at the highest CAGR during the forecast period
On the basis of country, the BRIC diagnostic imaging equipment market is segmented into Brazil, Russia, India, and China. China is expected to grow at the highest CAGR during the forecast period primarily due to the improving healthcare infrastructure, rising investments in diagnostic imaging, improving reimbursement scenario, and the growing insurance coverage in China.
The major players in the market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Carestream Health, Inc. (US), Hologic, Inc. (US), Hitachi, Ltd. (Japan), Neusoft Corporation (China), Allengers (India), CURA Healthcare (India), NP JSC Amico (Russia), SONTU Medical Imaging Equipment Co., Ltd. (China), FUJIFILM Holdings Corporation (Japan), and United Imaging Healthcare Co, Ltd. (China), among others.
Koninklijke Philips N.V. (Netherlands) held the major share of the BRIC diagnostic imaging equipment market in 2018. As part of its strategy, Philips focuses on product launches and expansions to increase its market share in this highly competitive market. China offers significant opportunities for Philips due to its large patient pool and developing healthcare infrastructure. In order to deliver technologically advanced solutions at economical prices, the company established an AI lab in Shanghai, China. The company has also entered into partnerships & collaborations with various companies and organizations in the country to enhance its market share.
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