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Medical Imaging Market Report: 2010 Edition
Koncept Analytics, July 2010, Pages: 40
The medical imaging market represents the largest sub-segment of global medical equipment market. The market has been growing at a CAGR of more than ten percent during the last seven years. However, due to global economic meltdown, the market has seen a decline during 2009.
X-Ray equipment, a commonly used imaging device, is the largest selling product. However, there is a shift from X-Ray to nuclear imaging and CT due to several advantages and better technology used in detection. Though the US represents the largest market, being the mature market, players are now seeking opportunities to grow in emerging markets. Hence, the US market is seeing continuous decline over the past three years.
The consolidation in Europe, growth potential in Asia-Pacific region, emergence of niche markets like refurbished medical imaging equipments are the key trends prevalent in the market. Contrast agent market which is an important part of the medical imaging market has been growing steadily over years. The US and Europe account for nearly two-thirds of the global contrast agent market.
The principal competitors in medical imaging market are General Electric, Philips, Toshiba, Hitachi and Hologic. The trend toward consolidation in the industry continues. Competition among the leading companies is strong, particularly with respect to price. The aging population, urbanization, growing chronic diseases, government stimulus plans and economic recovery in emerging markets are few key factors which are driving the industry growth.
The report provides an analysis of the global medical imaging market. It also discusses major market trends, growth drivers and potential markets for medical imaging. The report also presents the competitive structure of the industry and profiles major players with a discussion of their key business strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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