TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States diagnostic imaging system market will grow slowly through 2017, mostly because of an increase in the volume of procedures required by an aging and increasingly unhealthy population. A few premium-priced segments, such as specialized ultrasound systems and nuclear medicine, will show much stronger growth.
Continued reimbursement cuts and radiation dose concerns have restricted growth in this market, but the increasing number of patients, as well as an increasing demand for minimally invasive surgery, which requires precise imaging, will support growth to a total market size of $4.5 billion by 2017.
A few segments will show more significant growth. The comparatively low cost of ultrasound systems means that cost-cutting measures have less effect on their purchases, and this segment will continue to grow, reaching a value of $1.8 billion by 2017, with particular growth in cardiology, radiology and emerging applications.
Cardiology ultrasound systems are seeing steadily improving technologies, including 3-D/4-D real-time applications and volume acquisition, which allow for complex image manipulation, and thus command premium prices. Radiology ultrasound systems are benefiting from a shift in procedure preference from other modalities such as computed tomography (CT) and magnetic resonance imaging (MRI). And emerging systems will be the fastest growing segment of all, driven by the improved quality, performance and mobility of compact portable ultrasound systems.
Some specialized nuclear medicine systems will grow as well. Premium-priced hybrid single-photon emission CT (SPECT/CT) and positron emission tomography (PET/CT) systems will increasingly replace standalone SPECT systems.
“The selling price of a hybrid SPECT/CT system can range from half a million to a million dollars,” said MRG Analyst Felix Lam. “As they replace their older standalone SPECT systems, hospitals will prefer sophisticated SPECT/CT systems that offer diagnostic CT capabilities and high-slice CT components that can also perform calcium scoring. Those premium prices will allow this segment of the market to grow through 2017.”
The US diagnostic imaging market is dominated by large companies that compete in a variety of segments, including GE Healthcare, Siemens Healthcare and Philips Healthcare.
Millennium Research Group’s US Markets for Diagnostic Imaging Systems report includes unit, average selling price and revenue information, along with market drivers and limiters for ultrasound, MRI, X-ray, CT, and nuclear medicine systems sold in the United States.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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