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Supported by the rising R&D investments and high-tech innovation, the recent years witnessed the evolution of the diagnostic imaging market. Manufacturers are utilizing innovative techniques to reduce healthcare costs and provide high-quality imaging to facilitate better diagnosis and treatment. Technavio’s market study identifies the technological advances in diagnostic imaging modalities to be one of the primary growth factors for the medical imaging market in APAC. 4D medical imaging, cloud technology, 3D mammography, and 5D imaging equipment are few of the advanced technologies that efficiently and accurately detect clinical conditions. Also, few key vendors have launched some advanced technological innovations such as Carestream Health's DRX-Revolution Mobile X-ray system, MRI and CT technology, and Digital Photon Counting PET. Our market analysts estimate that the market will grow steadily at a CAGR of close to 10% by 2021.
The major and prominent vendors in the diagnostic imaging market are steadily entering M&A activities to expand their geographical presence and market their products. To remain competitive in the intensely competitive market, vendors are entering in strategic collaborations and M&As. Large vendors acquiring smaller vendors to improve their geographical presence and enhance their core competence. Medical imaging manufacturers are adopting inorganic growth strategies such as M&A to fulfill the growing demand for medical imaging equipment. Also, the cost-intensive nature of the market drives the competitors to enter strategic alliances. The rising number of strategic acquisitions and collaborations is one of the key factors driving the growth of the medical imaging market in APAC.
The medical imaging market in APAC is fragmented owing to the presence of several international, regional, and local vendors. Due to the technological advances and product upgradation, the competition among the key players will intensify. Regional players have strong market presence as compared to international players. Manufacturers in the diagnostic imaging market compete intensely based on pricing, product sensitivity, product differentiation, high investments, and technology upgradation.
The leading vendors in the market are
The other prominent vendors in the market are Accuray, Accutome, Alpinion Medical Systems, Analogic, ASAHI Roentgen, Atlantis Worldwide, BenQ Medical Technology, Bestman, BMV Technology, Boston Scientific, Bruker, Capintec, Carestream, Cephasonics, CMR Naviscan, CurveBeam, DDD-Diagnostic, Delphinus Medical Technologies, EOS imaging, Esaote, Fuel 3D Technologies, Gendex, Guangzhou Yueshen Medical Equipment, Hitachi, Hologic, Imaging Sciences International, Insightec, J. Morita Corporation, Jiangsu TongRen Medical Electronic Technology, Konica Minolta, Lupica Medical Systems, MedGyn, Mediso Medical Imaging Systems, Mindray Medical International, NeuSoft, PLANMECA, Samsung Medison, Shimadzu Corporation, Sonostar, SOREDEX, TomTec Imaging Systems, Wuhan Tianyi Electronic, Wuhan Zoncare Bio-medical Electronics, Xoran Technologies, and Zhuhai Ecare Electronics Science & Technology.
Medical imaging is primarily used in orthopedic applications in the medical imaging market in APAC as they aid the physicians in demonstrating complex injuries. 3D imaging of spine, hip, and knee in patients with trauma can be performed before and after surgery. The 3D images supplement the physician’s evaluation of trauma, infection, tumor, and postoperative evaluation.
The general X-ray equipment segment accounts for the major share of this he diagnostic imaging market due to the rapid technological advancements and continuous R&D efforts. The extensive adoption of advanced digital portable devices with high operational functionality and improvement in technologies will drive the growth of the medical imaging market in APAC. The growing need for non-surgical procedures that is influencing the demand for various X-ray equipment, in turn, driving the growth prospects of the medical imaging market in APAC.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SIZING
PART 07: MARKET SEGMENTATION BY APPLICATION
PART 08: MARKET SEGMENTATION BY PRODUCT
PART 09: MARKET SEGMENTATION BY END-USER
PART 10: REGIONAL LANDSCAPE
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
PART 13: MARKET TRENDS
PART 14: VENDOR LANDSCAPE
PART 15: VENDOR ANALYSIS
PART 16: APPENDIX
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