GIA announces the release of a comprehensive global report on 3D Medical Imaging market. The global market for 3D medical imaging is forecast to reach US$3.5 billion by the year 2015. Key factors driving market growth include aging population and continuing rise in incidence of critical diseases; increasing application in new areas such as obstetrics/gynecology, cardiology and dentistry; technological advancements associated with 3D medical imaging systems, and rising adoption of 3D imaging in developing markets such as Asia.
For several years in a row, the global medical imaging market posted robust growth in the light of rising healthcare demand and technological advancements. However, the global economic downturn that started in late 2008 brought this growth to an abrupt halt. Sales of medical imaging equipment, including MRI, CT and Ultrasound, faced significant declines in 2009, as end-users cancelled or delayed their purchases in the wake of tough economic conditions. Hospitals began to see their margins dwindle during the downturn, which has compelled them to procrastinate their spending on capital equipment. The market was also affected by a decline in healthcare spending in major markets. The US and Europe are the most affected markets due to economic downturn. Meanwhile, developing countries, specifically China, withstood the adverse impacts of the global downturn partially offsetting declines seen in developed markets.
Of all medical imaging technologies, CT and MRI technologies were the worst hit during the global recession. Despite the fact that ultrasound segment witnessed decline in revenues, the plunge was relatively lesser than declines witnessed in Computed Tomography and Magnetic Resonance Imaging segments.
Although currently pestered by the weaker economic climate, the future for 3D medical imaging market in the area of medicine appears optimistic. Aging population and continuing rise in incidence of critical diseases are expected to fuel growth for 3D imaging once global economies recovers from the impact of recession. Besides, 3D imaging is finding application in increasingly new areas such as obstetrics/gynecology, cardiology and dentistry, owing to significant advantages offered by the technology, providing ample market opportunities for producers of 3D equipment. Additionally, the market is also witnessing significant advances in terms of technological advancements that are expected to fuel future growth. Growth is also expected to emerge from rising adoption of 3D imaging in developing markets.
Europe represents the largest regional market for 3D medical imaging worldwide, as stated by the new market research report on 3D Medical Imaging. The US trails behind Europe. However, growth is primarily expected to emanate from developing markets, such as Asia-Pacific and Latin America.
Major players of 3D software and workstations used in MRI, CT and Ultrasound machines profiled in the report include Barco NV, GE Healthcare, Medison America Inc., Philips Medical Systems, Siemens Healthcare, The Esaote Group, TomTec Imaging Systems GmbH, Toshiba America Medical Systems, among others.
The research report titled ‘3D Medical Imaging: A Global Strategic Business Report’ announced by Global Industry Analysts Inc., provides a comprehensive review of the 3D medical imaging markets, impact of the recession on the market, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for 3D medical imaging software and workstations used in MRI, CT, and Ultrasound machines for the years 2007 through 2015 for the following geographic markets – United States, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Key product segments analyzed include 3D software and workstations used in MRI and CT machines, and 3D software and workstations used in MRI and CT machines used in Ultrasound machines. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.