(I-BusinessNews.Com, September 19, 2020 ) Growing incidence and prevalence of cardiovascular diseases, growing aging population, and technological innovations has led to the wide application of vascular imaging, thus driving the growth of the market.
According to research report the global vascular imaging market is expected to reach $5.95 billion by 2022 from $4.35 billion in 2017, at a CAGR of 6.5%.
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The vascular imaging market is consolidated in nature due to the presence of large players. The key players in this market are Siemens Healthineers (Germany), GE Healthcare (U.K.), Toshiba Medical Systems Corporation (Japan), Hitachi Medical Corporation (Japan), Fujifilm SonoSite (Japan), Hologic, Inc. (U.S.), Samsung Medison (South Korea), Shimadzu Corp. (Japan), St. Jude Medical, Inc. (U.S.), TERUMO Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Esaote SpA (Italy), Carestream Health, Inc. (U.S.), Konica Minolta (Japan), Alpinion Medical Systems (South Korea), Pie Medical Imaging (Netherlands), CorVascular Diagnostics LLC (U.S.), Evena Medical, Inc. (U.S.), LumedX Healthcare Technologies (U.S.), Xograph Healthcare (U.K.), Mindray Medical International Ltd. (China), Novadaq Technologies Inc. (Canada), Omega Medical Imaging LLC. (U.S.), BK Ultrasound (U.S.), and Piur imaging GmbH (Austria).
GE Healthcare (U.K.) dominated the vascular imaging market in 2016. GE Healthcare derives a majority of its revenue from the North American market. The company focuses on providing sophisticated systems in the field of cardiovascular imaging like CT, contrast media, MRI, nuclear imaging, and ultrasound as well as broadening its product offerings in the market. In 2016, GE Healthcare developed Vivid IQ, a portable compact cardiovascular ultrasound system, whereas in 2014 it launched MRI systems SIGNA Creator, SIGNA Explorer, and SIGNA Pioneer; and ultrasound systems Vscan with Dual Probe and LOGIQ S8.
Siemens Healthineers accounted for the second-largest share of the vascular imaging market in 2016. Siemens Healthineers provides angiography systems, C-arms, CT systems, MRI systems, X-ray imaging systems and ultrasound systems. In order to strengthen its position, the company collaborated with companies in the U.S., the U.K., and Turkey. In 2016, Siemens launched 1.5T MRI system Magnetom Sempra and CT systems Somatom Confidence RT Pro CT Scanner, Somatom go. Now, and Somatom go. Up. It also launched ultrasound systems Acuson NX3 & Acuson NX3 Elite in 2016 and Acuson S Family & HELX Evolution in 2015.
The key strategies followed by most companies in the vascular imaging market are product launches. This strategy accounted for the largest share of the overall growth strategies mapped from 2014 to 2017. Some of the leading players that adopted this strategy include GE Healthcare (U.K.), Siemens Healthineers (Germany), Toshiba Medical Systems Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Shimadzu Medical Systems (Japan), Samsung Medison (Korea), and Hologic Inc. (U.S.).
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Based on region, the vascular imaging market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The North American region is expected to account for the largest share in the market in 2017 on account of increasing aging population, rising prevalence and incidence of cardiovascular diseases, and technological advancements in vascular imaging systems.
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