New Report Forecasts Strong Growth for Diagnostic Imaging Equipment in BRIC Countries

A new report released by MarketsandMarkets (Dallas, TX, USA) forecasts that the diagnostic imaging equipment market in Brazil, Russia, China, and India (BRIC) is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.5% in the seven years between 2011 and 2018. The report covers the following diagnostic imaging equipment: Ultrasound Systems, X-ray Imaging Systems, Computed Tomography (CT) Scanners, MRI Systems, Nuclear Imaging Systems, and Mammography Systems.

Growth is being driven in part by increasing public and private funding for healthcare institutions, more research into new advanced low-cost diagnostic imaging equipment, and increasing rates of cancer, and cardiac conditions. Additional drivers for growth are screening programs for early diagnosis, and new academic institutions and training centers.

Large healthcare providers such as Royal Philips (Amsterdam, the Netherlands), GE Healthcare (Chalfont St Giles, Buckinghamshire, UK), Siemens Healthcare (Erlangen, Germany) are also building up their local Research and Development (R&D) capabilities. By 2013 GE Healthcare consolidated its lead as the main player in growth markets with new products, and partnerships. Other major companies focusing efforts on the BRIC markets are Toshiba Medical Systems Corporation (Otawara-shi, Tochigi-ken, Japan), and FUJIFILM Holdings Corporation (Minato-ku, Tokyo, Japan). Several factors are hampering the growth trend including radiation side-effects from imaging equipment, a lack of helium gas, and large implementation costs.

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