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Global Market Leaders and Drivers Diagnostic Imaging

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Global Market Leaders and Drivers Diagnostic Imaging Global Market Leaders and Drivers Diagnostic Imaging United States, China, Europe, Russia, Brazil and India Globally, markets for MRI, CT, general radiography and ultrasound systems will all grow strongly in the next five years. The MRI and CT markets will generally be driven by a growing preference for higher-end systems, and X-ray digitization will spur growth in general radiography systems. The United States and Western Europe are large and saturated markets where growth will come from replacement purchases of systems with higher technology, while Brazil, India, Russia and China will see strong procedural growth and purchases of new systems for facilities that previously had no diagnostic imaging system. Turkey’s market, strongly influenced by government bulk tenders, will see more irregular growth. United States 2012 Market Size: $4 billion 2016 Market Size: $4.4 billion 2012-2017 Growth: 2.7% Market Leaders by Product Type and Revenue, 2012 Ultrasound Nuclear Medicine Rank MRI Systems CT Systems X-Ray Systems Total Market Systems Systems Siemens Carestream 1 Siemens Healthcare GE Healthcare Siemens Healthcare GE Healthcare Healthcare Health Siemens 2 GE Healthcare GE Healthcare Canon Philips Healthcare GE Healthcare Healthcare Toshiba Medical 3 Philips Healthcare FUJIFILM SonoSite Philips Healthcare Philips Healthcare Systems Market situation Growth will be limited by uncertainty about health care reform, concerns about reimbursement cuts and a continued decline in overall procedure volumes. The ultrasound system market will be the fastest growing segment through 2016. The comparatively low prices of ultrasound systems means they will be less affected by cost-cutting measures than other modalities. The CT and nuclear medicine systems are two relatively stable segments that are experiencing shifts in product mix. In the CT system segment, there is a shift in favor of higher-slice systems, while there is a trend toward SPECT/CT and PET imaging in the nuclear medicine system segment. China 2012 Market Size: $2.3 billion 2016 Market Size: $2.5 billion 2011-2016 Annual Growth: 2.8% Market Leaders by Product Type and Revenue, 2011 Ultrasound Nuclear Medicine Rank MRI Systems CT Systems X-Ray Systems Total Market Systems Systems Siemens Siemens 1 GE Healthcare GE Healthcare GE Healthcare GE Healthcare Healthcare Healthcare Siemens 2 GE Healthcare GE Healthcare Philips Healthcare Philips Healthcare Siemens Healthcare Healthcare Philips Philips Beijing Wandong Medical Hitachi Aloka 3 Philips Healthcare Philips Healthcare Healthcare Healthcare Equipment Medical Market situation The largest growth driver will be the increase in government health funding, particularly that aimed at reducing the healthcare quality gap between rural and urban hospitals. The result will be large numbers of initial system purchases by rural hospitals as well as system upgrades by more affluent urban hospitals. Driven by new additions to ultrasound system functionalities in addition to replacement sales and system upgrades, the ultrasound system segment will produce the largest revenues through 2016. The still-slow medical device registration process will inhibit adoption of cutting-edge technology. Strong competition from local vendors will lead to significant price erosion, particularly in lower-end systems. Millennium Research Group Contact: [email protected] www.mrg.net Europe (France, Germany, Italy, Spain, United Kingdom) 2012 Market Size: $1.9 billion 2016 Market Size: $2.9 billion 2012-2017 Annual Growth: 2.4% Market Leaders by Product Type and Revenue, 2012 Nuclear Medicine Rank MRI Systems CT Systems X-Ray Systems Ultrasound Systems Total Market Systems Siemens Siemens 1 FUJIFILM GE Healthcare Siemens Healthcare GE Healthcare Healthcare Healthcare Carestream Siemens 2 GE Healthcare GE Healthcare Philips Healthcare Philips Healthcare Health Healthcare Philips Toshiba Medical 3 Philips Healthcare Philips Healthcare GE Healthcare Philips Healthcare Healthcare Systems Market situation Growth will come mostly from increased procedure volumes resulting from an aging population and rising obesity rates. The MRI and CT system segments will expand at the fastest pace. While the MRI system market will see growth in all system types, the CT system segment will see growth primarily in the shift from lower- to higher-slice systems. Reimbursement cuts and increasing cost-consciousness will slow growth, particularly in 2014 and 2015. Russia 2012 Market Size: $1.2 billion 2016 Market Size: $1.4 billion 2012-2022 Annual Growth: 3.3% Market Leaders by Product Type and Revenue, 2013 Rank MRI Systems CT Systems General Radiography Systems Ultrasound Systems Total Market 1 Siemens Healthcare Toshiba Medical Systems Elektron Technology GE Healthcare GE Healthcare 2 GE Healthcare Siemens Healthcare Amico Hitachi Siemens Healthcare 3 Philips Healthcare GE Healthcare Helpic Philips Healthcare Toshiba Medical Systems Market situation This market saw significant recent growth due to government healthcare modernization investment. Though the bulk of investment has already been made, some continued funding will contribute to growth through 2016. Healthcare system improvements have led to a shift in preference toward higher-end systems with improved image quality and capabilities. Corrupt pricing practices have led to vastly inflated equipment prices. Recent government initiatives may limit these practices, leading to a downward pressure on selling prices in the next two or three years. Millennium Research Group Contact: [email protected] www.mrg.net Brazil 2012 Market Size: $652 million 2016 Market Size: $1 billion 2011-2021 Annual Growth: 5.1% Market Leaders by Product Type and Revenue, 2012 Ultrasound Nuclear Medicine Rank MRI Systems CT Systems X-Ray Systems Total Market Systems Systems Siemens 1 Philips Healthcare Agfa HealthCare GE Healthcare GE Healthcare GE Healthcare Healthcare Philips 2 GE Healthcare GE Healthcare Philips Healthcare Siemens Healthcare Philips Healthcare Healthcare Siemens Siemens 3 Philips Healthcare FUJIFILM Samsung Philips Healthcare Healthcare Healthcare Market situation Growth will come from an expanding patient base resulting from increased government healthcare funding, as well as from a growing middle class and an aging and increasingly unhealthy population. Facilities with improved funding will be increasing their system adoption. Many multinationals will continue to establish local manufacturing facilities to avoid heavy import fees, resulting in reduced end-user prices and accelerated system adoption. India 2012 Market Size: $603 million 2016 Market Size: $827 million 2011-2016 Annual Growth: 8.9% Market Leaders by Product Type and Revenue, 2011 General Radiography Rank MRI Systems CT Systems Ultrasound Systems Total Market Systems Siemens Toshiba Medical Siemens 1 US X-Ray Hitachi Healthcare Systems Healthcare Mindray Medical 2 Philips Healthcare GE Healthcare Carestream Health GE Healthcare International 3 GE Healthcare Siemens Healthcare FUJIFILM Siemens Healthcare Philips Healthcare Market situation Growth will come from increasing demand from rural regions and small health care facilities in India, where penetration of diagnostic imaging systems is very low. While promising, this market has significant limitations. The general preference for low-cost over premium systems is a strong brake on prices. Only government facilities and large corporate hospitals will be purchasing premium systems through 2017. Imaging procedures performed in private facilities are still not reimbursed. Despite growing affluence, few patients can afford these scans, severely limiting procedure volumes. Millennium Research Group Contact: [email protected] www.mrg.net Turkey 2012 Market Size: $171 million 2016 Market Size: $157 million 2012-2022 Annual Growth: 0.9% Market Leaders by Product Type and Revenue, 2013 Rank MRI Systems CT Systems General Radiography Systems Ultrasound Systems Total Market Siemens 1 Siemens Healthcare Toshiba Medical Systems US X-Ray Hitachi Healthcare 2 Philips Healthcare GE Healthcare Carestream Health Mindray Medical International GE Healthcare 3 GE Healthcare Siemens Healthcare FUJIFILM Siemens Healthcare Philips Healthcare Market situation This market will see significant fluctuations from year to year due to irregular high-volume purchases by the Ministry of Health. These bulk tenders have exerted a downward pressure on prices, particularly in the ultrasound segment, and resulted in a highly price-sensitive market, making it difficult for many vendors to compete. Largest growth will be in the MRI system segment, as the government establishes a large number of healthcare complexes that require new systems. Millennium Research Group Contact: [email protected] www.mrg.net.
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