(I-BusinessNews.Com, July 20, 2020 ) 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 dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). North America will continue to dominate the market in the forecast period. However, Asia is expected to witness the highest CAGR, with the growth in this market centered at China, Japan, and India. Increasing healthcare expenditure, increase in disposable incomes, and growing penetration of healthcare insurance are some factors propelling market growth in the Asian region.
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.
• Based on applications, the market has been segmented into diagnostic and therapeutic applications. The therapeutic applications segment is expected to register the highest growth during the forecast period primarily due to the growing use of imaging techniques in surgeries & treatments.
• Based on technique, the market is segmented into MRI, CT, ultrasound, nuclear imaging, and X-ray. The MRI segment is expected to dominate the global vascular imaging market throughout the forecast period. The increasing incidence of CVDs and the launch of advanced MRI systems are the key factors driving the growth of this segment.
• Based on end user, the market is segmented into hospitals, diagnostic imaging centers, and other end users. Currently, hospitals are the largest end users of vascular imaging systems. This end-user segment is also expected to register the highest growth during the forecast period.
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), Samsung Medison (South Korea), Shimadzu Corp. (Japan), Alpinion Medical Systems (South Korea), Pie Medical Imaging (Netherlands), CorVascular Diagnostics LLC (U.S.), St. Jude Medical, Inc. (U.S.), TERUMO Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Fujifilm SonoSite (Japan), Hologic, Inc. (U.S.), Esaote SpA (Italy), Carestream Health, Inc. (U.S.), Konica Minolta (Japan), 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).
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Major vascular imaging market players launched innovative products in the recent past and have plans to launch new products and expand across geographies by partnerships and acquisitions. GE Healthcare, Siemens Healthineers, and Toshiba Medical Systems Corporation are identified as the top players in this market. These companies have a broad product portfolio with comprehensive features. Further, these leaders have products for all end users in this segment, have a strong geographical presence, and more importantly focus on continuous product innovations.
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