Asia-Pacific imaging market to grow at a CAGR of 10 percent through 2021

por Lauren Dubinsky, Senior Reporter | January 05, 2018
Business Affairs Medical Devices MRI Ultrasound X-Ray
The Asia-Pacific medical imaging market is expected to grow at a compound annual growth rate of approximately 10 percent from 2017 to 2021, according to a new Technavio report.

One of the main drivers is technological advancement such as 4-D medical imaging, cloud technology, breast tomosynthesis and 5-D imaging equipment.

The general X-ray equipment segment accounted for the highest share of the overall market in 2016. More health care facilities are purchasing advanced digital portable X-ray systems with high operational functionality, and vendors are continuing to invest in R&D efforts.
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In addition, the increasing interest in non-surgical procedures has created a higher demand for interventional X-ray, mammography and general radiography.

Automated breast imaging is one of the techniques being opted for in breast cancer detection, according to the report. The Australian, Japanese and South Korean governments have led various programs to spread awareness about the ability of 3-D/4-D ultrasound to better detect cancer in dense breasts.

The MR segment is growing at a fast rate due to faster regulatory approvals and favorable reimbursement policies. New software upgrades and a rise in MR-compatible interventional procedures to treat chronic disorders are also contributing factors.

The leading vendors in the market are FUJIFILM, GE Healthcare, Koninklijke Philips, Siemens Healthineers and Toshiba Medical Systems. Many of them are making merger and acquisition deals with smaller companies to remain competitive.

The goal of the large vendors is to expand their geographical presence and market their products. The cost-intensive nature of the market is also driving them to make these deals.

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