LONDON--(EON: Enhanced Online News)--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.
“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”
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.
Hitachi Medical engages in the R&D, manufacturing, and marketing of a wide range of medical equipment. It operates as a subsidiary of Hitachi. It manufactures and markets a wide range of medical imaging systems in Americas, EMEA, and APAC.
Philips Healthcare is a medical device company. It manufactures and markets a broad range of diagnostic imaging systems, healthcare IT solutions, and patient monitoring and cardiac devices. It operates as a subsidiary of Koninklijke Philips.
Siemens Healthcare manufactures medical diagnostic equipment and tools. The company offers solutions for medical imaging, laboratory diagnostics, healthcare IT, and hearing instruments. It also provides technical maintenance and professional and consulting services. It operates as a subsidiary of Siemens.
Toshiba Medical Systems
Toshiba Medical Systems develops, manufactures, sells, and services medical equipment. It operates as the subsidiary of Toshiba Corp. Toshiba Medical Systems trademarks include Aquilion one, ApliPure, Aquilion, Alexion, VolPure, Aplio, Artida, Xario, Famio, Viamo, Dynamic Flow, Pulse Subtraction, Sono Set, iSTYLE, and iASSIST.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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