Report: Medical imaging market recoups from recession

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon

The medical imaging market earned revenues of $5.73 billion in 2009 and is estimated to reach $6.55 billion in 2012, as the market is expected to bounce back from declining reimbursements and effects of the economic downturn, according to a report from market research firm Frost & Sullivan. 

The report--which covered market segments including CR, DR, MRI, CT, 3D, CAD, ultrasound, C-arms, imaging informatics, contrast media, auto injectors, mammography, molecular imaging and nuclear medicine–found that radiation reduction, throughput and exam speed are currently major considerations for medical equipment purchases.

The market is shifting toward integrated technology and hybrid systems with new clinical developments such as radiation reduction and better temporal resolution, especially in Europe and the U.S., noted Frost & Sullivan.

“The downturn also drives end-users to delay purchase of new equipment thereby lengthening the product replacement cycle,” explained Simone Carron, research associate of the firm. “This, in turn, is likely to necessitate vendors to provide long-term technology sustainability.”

In addition, countries including India and other Pacific Asian countries are expected to remain economically unaffected due to the “demand for healthcare along with increasing ability of the patient population to spend on improved health services in these regions,” said the report.