As world economies continue a roller coaster ride and various markets seem to go in various directions, the diagnostic imaging market continues to grow. At this moment, it’s very difficult to tell whether or not the predictions for the general worth of the market by the end of 2017 are going to hold at 26 billion dollars. With the current growth of the various markets, chances are that the sector will continue to grow and far exceed any and all expectations. One of the main drivers behind this growth is the MRI.
The MRI is not only growing in terms of the improvements that are being made to it, it’s also growing in terms of the markets that are getting in on the purchase end of it. The current value of the MRI systems market is 4.9 billion dollars and over the next five years, there is a projected growth of 5% yearly that will see the market’s value increase to over 2 billion dollars more and come in at a nearly seven billion dollar value. There are multiple factors attributed to the growth of the MRI market such as:
- Globally aging population.
- Continued global urbanization.
- Complex conditions becoming prevalent.
- Government regulations.
Another major factor is the emergence of new markets that were not really players before. When you think of strong markets you think of the BRIC countries and standard markets such as America, and Europe. Other markets have emerged such as the Philippines. These new and somewhat surprising markets have emerged because their governments have developed stronger healthcare drivers.
What’s interesting is what this particular development is likely to mean as a whole. Manufacturers both in Europe and the United States are looking at greater development in terms of the MRI. The service industry is likely to experience another boom and the refurbished equipment industry will get a great crack at a lot of these markets due in part to their spending limits.
Even though there is growth in the MRI market there’s also a share of alternatives that are likely to step in the way of the MRI. With the X-Ray, and CT scan still there as cost effective counter measures, the MRI growth has a bit of a cap. Another concern is the lack of access to qualified personnel and also ineffective workflow.
If these particular detractors become greater than what’s expected then chances are that the very markets that are emerging will likely make stronger drives for education as well. Any way that you look at it there is a great deal of opportunity. If the economy actually improves the forecasted numbers are likely to change because working with those markets will then become an option.
If you have any questions about diagnostic imaging equipment please feel free to give us a call. Our team of experts here at Amber Diagnostics looks forward to answering any and all questions that you may have.