Vascular Imaging Systems Market to Witness 5.7% CA
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NEW YORK, July 07, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Vascular Imaging Systems Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Product (CT, MRI, X-Ray, Ultrasound and Nuclear Imaging), by Application (Cardiology, Oncology, Neurology and Others), by End User (Hospitals, Specialty Clinics and Diagnostic Centers)” published by P&S Market Research, the global vascular imaging systems market is expected to grow at a CAGR of 5.7%, during 2017 - 2023.
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According to the study, the global vascular imaging systems market is likely to grow significantly, during the forecast period, due to increasing healthcare expenditure, increasing prevalence of cancer and cardiovascular diseases and rising awareness about imaging techniques due to various conferences and seminars. In addition, growing geriatric population and launch of technologically advanced products contribute to the growth of the market. High cost, stringent regulatory requirements, shortage of helium for magnetic resonance imaging and increasing risk of cancer due to exposure to radiations are the key factors restraining the global market growth.
Geographically, North America has been the largest market for vascular imaging systems, where the U.S. has been the largest contributor to the regional market. Increasing awareness about imaging techniques has been driving the growth of the North American market. In Europe, Germany has been the largest contributor to the market, followed by the U.K. and France. Asia-Pacific market is expected to grow at the highest CAGR, during 2017 - 2023, owing to increasing prevalence of cancer and cardiovascular diseases.
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According to the Conference of Radiation Control Program Directors, Inc. (CRCPD), around 62 million CT procedures are performed every year in the U.S. including 4 million CT procedures performed for children. Moreover, according to the European Association of Nuclear Medicine (EANM) annual congress, the number of patients in Western Europe undergoing PET procedures increased by 21% between 2005 and 2010, accounting for 900,000 procedures in 2011. The rapidly increasing demand for vascular imaging procedures drives the growth of the market.
Some of the key players in the global market include Siemens AG, General Electric Company, Hitachi Ltd., and Koninklijke Philips N.V., Carestream Health, Inc., Hologic, Inc., Esaote S.P.A, Shimazdu Corporation, Canon Inc., Orthoscan, Inc., and Fujifilm Corporation.
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