The global medical imaging equipment market will hit $35.4 billion by the year 2019, according to a new report by Transparency Market Research.
The company estimates that compound annual growth will be 5.4% between 2013 and 2019, driven by technical advancements and an increase in private and government initiatives.
The market for CT and nuclear imaging devices will expand at the highest growth rates. In 2012, the market for CT scanners was $4.4 billion, and the nuclear medicine imaging equipment market was worth $1.5 billion. Transparency projects that these markets will grow at a 5% compound annual rate between 2013 and 2019.
In 2012, the global market was valued at $24.3 billion, with North America generating the most revenue. Going forward, the Asia-Pacific region will prove to be the most active market, Transparency said.