BRIC Diagnostic Imaging Equipment Market worth $7.6 Billion by 2018, Says the New Study on ASDReports

Wednesday 19 November 2014, Amsterdam

The new report now available on ASDReports, analyzes and studies the major market drivers, restraints, opportunities, and challenges in Brazil, Russia, India, and China.

This report studies the BRIC diagnostic imaging equipment market over the forecast period of 2013 to 2018. The market is expected to reach ~$7.6 billion by 2018, at CAGR of 10.5% from 2013 to 2018.

Based on type of modality, the BRIC diagnostic imaging equipment market is divided into six segments, namely, ultrasound systems, X-ray imaging systems, computed tomography (CT) systems, magnetic resonance imaging (MRI) systems, nuclear imaging systems (comprise SPECT and PET systems), and mammography systems. Each is further sub-segmented based on product type. The ultrasound systems market is sub-segmented by technology (color Doppler ultrasound imaging systems and black & white ultrasound imaging systems) and portability (trolley-based and compact/portable ultrasound imaging systems). The X-ray imaging systems market is also sub-segmented by technology (analog X-ray imaging systems and digital X-ray imaging systems (computed radiography and direct radiography)) and portability (stationary X-ray imaging systems and portable X-ray imaging systems). The MRI systems market is divided by architecture (closed MRI and open MRI) and field strength (high-field MRI systems, very high-field MRI systems, and low-to-mid-field MRI systems). Mammography systems are segmented on the basis of technology (analog mammography and digital mammography). Likewise, the market for CT scanners is further segmented on the basis of slice type (mid-end, low-end, and high-end slice CT scanners).

A number of factors such as increasing public and private funding for the development of healthcare facilities, increasing awareness about early-stage diagnosis of diseases, rising patient population, and growing launches of low-cost and technologically advanced diagnostic imaging systems are driving the growth of the BRIC diagnostic imaging equipment market. However, factors such as high cost of diagnostic imaging systems, side-effects of radiations, and financial budget constraints with small and medium sized healthcare service providers are restraining the growth of the BRIC diagnostic imaging equipment market. Furthermore, the rising demand for refurbished systems and stringent tax policies are major challenges faced by market players in BRIC countries.

As of 2013, China held the largest share, 45%, of the BRIC diagnostic imaging equipment market, followed by Russia. The Chinese market is also expected to grow at the fastest CAGR of 12.0% from 2013 to 2018. A number of factors such as ongoing healthcare reforms, growing government investments to develop its healthcare infrastructure in rural areas, and favorable demographic scenario (huge patient pool and rapidly aging population) are boosting the growth of diagnostic imaging equipment market in China. However, irregularities in the tendering process and government price controls over medical devices are some key challenges faced by players in the Chinese diagnostic imaging equipment market.

The major players in the BRIC diagnostic imaging equipment market include GE Healthcare (U.K.), Hitachi Medical Corporation (Japan), Hologic, Inc. (U.S.), Philips Healthcare (Netherlands), Samsung Medison (South Korea), Siemens Healthcare (Germany), Shimadzu Corporation (Japan), and Toshiba Medical Systems Corporation (Japan).