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The drivers behind this reformation would be advancements in technology and new clinical applications for imaging modalities. While the ongoing economic slump continues to hinder businesses around the globe affecting key markets in the United States and Europe, countries such as India and others in the Asia Pacific are expected to come out unscathed. This is due to the demand for healthcare along with the increasing ability of the patient population to spend on improved health services in these regions.
New analysis from Frost & Sullivan (medicalimaging.frost.com), Medical Imaging Business Outlook during the Recession, finds that the market earned revenues of $5.73 billion in 2009 and estimates this to reach $6.55 billion in 2012. The market segments covered in this research include computed radiography and digital radiography (CR & DR), magnetic resonance imaging (MRI), computed tomography (CT), 3 dimensional (3D) and computer aided design (CAD), ultrasound, C-arms, imaging informatics, contrast media and auto injectors, mammography, molecular imaging and nuclear medicine.
"The medical imaging market is shifting towards integrated technology and hybrid systems with innovative developments such as radiation reduction and better temporal resolution," says Frost & Sullivan Research Associate Simone Carron. "Radiation reduction is a growing trend across Europe and clinicians are looking at significantly optimising examination time."
The factors considered during the purchase of medical imaging equipment are radiation dosage, throughput and speed of the exam. The increasing development is towards enhanced temporal resolution, which can provide clinically relevant structures and pathology rather than merely more data or slices.
Although healthcare is one of the least-affected sectors by the financial crisis, it experienced a setback in the flow of easy credit. Funding from government and central banks are subject to new regulations and rules to negate the chances of another downturn.
"The downturn also drives end-users to delay purchase of new equipment thereby lengthening product replacement cycle," explains Carron. "This in turn is likely to necessitate vendors to provide long-term technology sustainability."
Firms should secure capital and decide future strategies to counter the adverse effects of the economic downturn.
"Private financing sectors are expected to raise capital and improve the outlook of the imaging modality market," concludes Carron. "Additionally, technological integration and the likely growth of hybrid modalities offering better throughput with reduced dosage and examination time are expected."
If you are interested in more information on this study, please send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Medical Imaging Business Outlook during the Recession is part of the Medical Imaging Growth Partnership Services programme, which also includes research in the following markets: Digitisation Initiatives in the European Medical Imaging Markets and U.S Digital and Computed radiography (DR/CR) markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.
Medical Imaging Business Outlook during the Recession / M543
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