According to a new market report published by BlueWeave Consulting, the global vascular imaging systems market was valued at US$ 18,217 Mn in 2016 and is expected to expand at a CAGR of 5.31% from 2018 to 2024, reaching US$ 27,295 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to global vascular imaging systems market in 2016.
Growing prevalence of cardiovascular diseases and cancer are driving the Global Vascular Imaging Systems.
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Vascular imaging systems are used to provide imaging tests related to blood flow and health of blood vessels for diagnosing various diseases. CT (computed tomography), MRI (magnetic resonance imaging), ultrasound, X-ray, and nuclear imaging are the major techniques used for vascular imaging. Vascular imaging has advanced rapidly both technologically and by application in recent years. These technological advancements have acted as a breakthrough for improved diagnosis and treatment of vascular diseases.
The factors that enhance the global vascular imaging systems market are increasing prevalence of cardiovascular diseases and cancer, extensive increase in the availability of vascular imaging systems, increase in the growth of aging population, increase in vascular imaging awareness campaigns, technological advancements, and increase in healthcare outlay
The key driver for the global vascular imaging Systems is increasing prevalence of cardiovascular diseases. Major critical diseases, like heart valve problems, arrhythmia, heart attack, stroke is increasing due to improper care and unhealthy lifestyle. In 2015, as per AHA (American Heart Association), around 85.6 million Americans were affected from cardiovascular diseases. In addition, reported by AHA, in 2015, in U.S., around 720,000 people suffer from heart attacks every year, out of which 515,000 people already had their first heart attack and 205,000 people suffered from 2nd heart attack. Again, further reported by AHA, in U.S., in 2011, around 326,200 people have experienced out-of-hospital cardiac arrests. In U.S., 90% of women moreover have one or more risk factors for having heart disease.
Global Vascular Imaging Systems: Scope of the Report
The global market for vascular imaging systems is segmented by product, application, end user and geography. The product type is further segmented into CT, MRI, X-ray, Ultrasound and Nuclear imaging. Furthermore, the application market can be segmented into cardiology, oncology, neurology, and others. Based on end user the market can be divided into hospitals, specialty clinics, and diagnostic centers.
Geographically, the Global Vascular Imaging Systems market is bifurcated into North America, Asia Pacific, Europe, South America, and Middle East & Africa. The North American vascular imaging systems market was the most prominent market due to the growing number of medical imaging tests, increase in awareness campaigns and growing geriatric population. In Canada, vascular imaging tests are a major part for diagnosis. Growing number of medical imaging tests is anticipated to drive the growth of the market.
Global Vascular Imaging Systems: Competitive Dynamics
Major industry players in global vascular imaging systems are adopting different strategic initiatives such as mergers and acquisitions, partnerships, and collaborations for advanced technologies and new product development. For instance, in December 2016, Esaote, manufacturer of diagnostic ultrasound systems and probes launched the MyLab Eight Platform at Arab Health 2017. This launch is expected to increase its product portfolio in ultrasound machines. In September 2016, Carestream has received the FDA clearance for its OnSight 3D Extremity System. The product utilizes cone beam CT (CBCT) technology to capture weight-bearing and other types of extremity exams.
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Market Segmentation: Global Vascular Imaging Systems
- Nuclear imaging
By End User
- Specialty Clinics
- Diagnostic Centers
- North America
- Latin America
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