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The market is segmented by Product (MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Fluoroscopy, and Mammography), Application and End User.
Certain factors that are driving the market growth include the prevalence of chronic diseases, growing adoption of advanced technologies in medical imaging, and an increase in the geriatric population.
Wider adoption of advanced technologies play a major role in improving the market economy. The increasing aging population and increased incidence of chronic diseases are also key factors driving market growth. Patients aged 65 years and older undergo diagnostic imaging at two or more times the rate of younger people. In spite of these factors driving the market, there are other factors restraining the growth of the market, such as expensive procedures and equipment, and certain side effects of diagnostic imaging procedures.
Diagnostic imaging is the process of making a visual representation of the interior of a body for medical intervention. These equipment help in establishing a database of normal anatomy and physiology of internal organs, so that any abnormality can be noticed immediately. The ability to create pictures of a patient’s internal anatomy and convert them to film through diagnostic imaging has revolutionized the way many diseases and injuries are detected, diagnosed, and treated. This market has applications in various medical fields, like cardiology, oncology, neurology, and orthopedics.
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Oncology deals with diagnosis and treatment of tumors and cancers, which is one the leading causes of morbidity and mortality. According to the Cancer Research UK, there are more than 360,000 new cancer cases in the United Kingdom every year, which is nearly 990 every day (2013-2015). In the United Kingdom, around 183,000 new cancer cases were found in males, and around 177,000 new cancer cases were found in females, in 2015.
Every two minutes, someone in the United Kingdom is diagnosed with cancer. Moreover, breast, prostate, lung, and bowel cancers, together, accounted for over half (53%) of all new cancer cases in the the country, in 2015. Each year, more than a third (36%) of all cancer cases, in the country, are diagnosed in people aged 75 years and over (2013-2015). Incidence rates for all cancers combined, in the United Kingdom, are the highest in people aged between 85 and 89 years (2013-2015). Thus, diagnostic imaging plays a vital role in oncology as tools, such as CT, are the highly beneficial and preferred method of imaging for many conditions.
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The market studied is consolidated owing to the presence of a few major players in the market. The market players are focusing on R&D to develop the technologically advanced products in order to reduce the cost and side effects associated with the products. The barriers for the new entrants are high in this industry, and hence few major market players hold the maximum market share.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in the Prevalence of Chronic Diseases
4.2.2 Growing Adoption of Advanced Technologies in Medical Imaging
4.2.3 Increase in the Geriatric Population
4.3 Market Restraints
4.3.1 Expensive Procedures and Equipment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Modality
5.1.2 Computed Tomography
5.1.5 Nuclear Imaging
5.2 By Application
5.2.7 Other Applications
5.3 By End-User
5.3.2 Diagnostic Centers
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Carestream Health Inc.
6.1.2 Esaote SpA
6.1.3 Fujifilm Holdings Corporation
6.1.4 GE Healthcare
6.1.5 Hitachi, Ltd.
6.1.6 Hologic Inc.
6.1.7 Koninklijke Philips N.V.
6.1.8 Shimadzu Corporation
6.1.9 Siemens AG
6.1.10 Sonosite Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments