Medical Imaging Equipment Market Is Expected to Reach Usd 35.35 Billion Globally in 2019: Transparency Market Research

According to a new market report published by Transparency Market Research "Medical Imaging Equipment Market (X-ray, Ultrasound, Computed Tomography (CT), Magnetic Resonance Imaging (MRI) and Nuclear Imaging Equipment) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" in 2012, the global medical imaging equipment market was valued at USD 24.39 billion and is expected to grow at a CAGR of 5.4% during the forecast period of 2013 to 2019   to reach a market value of USD 35.35 billion by 2019.

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Medical imaging equipment helps in diagnosing various complex diseases such as chromosomal abnormalities, atherosclerosis and Parkinson's disease. This equipment utilizes energy waves to produce 2-D and 3-D images of human organs. With rise in incidences of various diseases such as cardiovascular diseases (CVD), brain disorders, oral conditions such as gingivitis, and lung disorders, the market is expected to grow at a CAGR of 5.4% during the forecast period of 2013 to 2019.

According to an estimate of the World Health Organization (WHO), around 8.7 million people suffered from tuberculosis (TB) in 2011 worldwide and around 23.3 million people will die due to CVDs. Growth of this market will also be supported by the increasing geriatric population worldwide because elderly people are highly susceptible to various diseases such as osteoporosis, stroke and CVDs. Equipment such as nuclear imaging devices and computed tomography (CT) scanners help in diagnosing these diseases precisely within a short span of time. Moreover, introduction of various technologically advanced products such as handheld X-ray machines and upright MRI scanners will also augment growth of this market. This is attributed mainly to increase in their utilization in various medical institutes, such as hospitals and diagnostic labs, since they reduce...