Technavio: Top 6 Vendors in the Medical Imaging Market From 2017 to 2021
LONDON–(BUSINESS WIRE)–Technavio has announced the top six leading vendors in their recent global medical imaging market report. This research report also lists 63 other prominent vendors that are expected to impact the market during the forecast period.
The global medical imaging market will grow at a CAGR of close to 5% during the forecast period. The US and countries in Western Europe such as the UK, Germany, France, Italy, and Spain are the key dominant regions in this market. However, with the increasing pressure on hospitals and healthcare entities to reduce expenditure, the medical imaging market in these regions is close to saturation. While the strong markets are saturating, emerging markets such as India, China, Russia, Brazil, and Turkey are experiencing growth and are attracting major players such as Siemens Healthcare, GE Healthcare, and Philips Healthcare.
Competitive vendor landscape
Advancements in technology such as cloud and software to connect sonography devices to smartphones or tablets and wireless technologies like Bluetooth are the factors that are magnifying the adoption of medical imaging.
“Firms are going through many strategies such as geographical expansion, product launches to create a broader product portfolio, tie-ups with various hospitals and diagnostic centers and other business strategies like product branding and marketing, to survive in the long run,” says Barath Palada, a lead patient monitoring devices research analyst from Technavio.
To generate the maximum revenue from the market, which has already attained maturity like in the US and Europe, vendors are looking forward toward enhancing their technological platforms both in diagnostic and therapeutic imaging equipment. Minimizing the size and maximizing the results is the key focus area for vendors, which has led to the widespread launch and use of portable, handheld, and point-of-care devices both for therapeutic and diagnostic purposes.
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Top six medical imaging market vendors
Fujifilm along with its subsidiaries and affiliates engages in the manufacturing and marketing of a wide range of imaging and information solutions. The company offers its medical imaging systems through its healthcare sub-segment. The healthcare sub-segment is driving the overall growth of the company through the launch of new products with its proprietary image processing technology, thereby increasing sales, especially in emerging markets.
GE Healthcare manufactures and markets diagnostic imaging systems, cardiac devices, and patient monitoring devices. It operates as a subsidiary of GE Electrical, a multinational conglomerate company.
The company has expertise in medical imaging, software and IT, patient monitoring and diagnostics, biopharmaceutical manufacturing technologies, drug discovery, and performance improvement solutions. Its products and services are sold to medical facilities, hospitals, pharmaceutical and biotechnology companies, and the life science research market.
See the Rest – Source: Top 6 Vendors in the Medical Imaging Market From 2017 to 2021: Technavio | Business Wire