Global Magnetic Resonance, Computed Tomography, and Nuclear Medicine Imaging Market is expected to grow at a CAGR of 5.3% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Magnetic Resonance, Computed Tomography, and Nuclear Medicine Imaging Market by Type (Closed Magnetic Resonance Imaging, Open Magnetic Resonance Imaging, High-End Slice Computed Tomography, Mid-End Slice Computed Tomography, Low-End Slice Computed Tomography, Single-Photon Emission Computed Tomography (SPECT) Systems and Positron Emission Technology (PET) Technology), Application (Neurology, Oncology, Cardiology and Others), End-users, Region and Global Forecast 2020-2027.
The global magnetic resonance, computed tomography and nuclear medicine imaging market is expected to grow from USD 14.59 billion in 2019 to USD 23.22 billion by 2027, at a CAGR of 5.3% during the forecast period 2020-2027. North America is currently the dominant country. The contributing factors for the market growth are growing technological advancement, the prevalence of infectious diseases, need for molecular imaging and advanced healthcare facilities. However, Asia-Pacific is another region which is expected to grow at a lucrative rate. The increase in diseases like cancer is an essential reason for the market demand of the imaging system. Apart from this, a rise in disposable income and rising healthcare infrastructure are also some factors responsible for the growing market
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Key players in the magnetic resonance, computed tomography and nuclear medicine imaging market are GE Healthcare, Siemens Healthineers, Koning Corporation, Hitachi Healthcare Systems, Neusoft Medical Systems Corporation Limited, Fujifilm Holdings Corporation, Neurologica Corporation, Koninklijke Philips NV, Shenzhen Anke High-Tech Co, Bracco Imaging SPA, Canon Medical Systems and others. Canon Medical Systems sought approval of FDA in October 2019 for advanced intelligent, clear IQ Engine for CT system.
The type segment includes closed magnetic resonance imaging, open magnetic resonance imaging, high-end slice computed tomography, mid-end slice computed tomography, low-end slice computed tomography, single-photon emission computed tomography (SPECT) systems and positron emission technology (PET) technology. Out of these, closed magnetic resonance currently dominates the market segment. They provide much detailed scanning by incorporating higher magnetic fields and providing an enclosed periphery. This property makes them more efficient compared to the other types available. The application segment includes neurology, oncology, cardiology and others. Oncology dominates the segment and is expected to grow at a lucrative rate. Oncology deals with diagnosis and treatment of cancer. Cancer is responsible for many deaths worldwide in a year. Oncology helps to detect cancer at an early stage which helps in the procedure. Thus, increasing the chances of recovery. The end-users segment includes hospitals and clinics, diagnostic centres and others. Hospitals and clinics are the major end-users. The factors responsible for the market growth are increasing need for imaging machine, better purchasing power, and improving facilities in health care services.
Magnetic resonance generates the images of the organs of the body. It does not involve ionizing radiation or X-rays. This number of diseases related to the spine and brain has led to the market growth of magnetic resonance market. The computed tomography is the computerized x-ray imaging system. It works with the help of X-rays. Nuclear medicine imaging includes the injection of a small amount of radioactive material into the bloodstream. These materials can also be either swallowed or inhaled by the patient. It travels through the organ which needs to be examined. The particular camera of the machine detects the gamma rays, and then the computer creates the picture of insides of the organ. It detects diseases at an early stage and provides some unique information which is not possible by other imaging procedures available. The rising awareness about health and increasing government support is expected to contribute to the market growth of imaging systems.
About the report:
The global magnetic resonance, computed tomography and nuclear medicine imaging market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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