US Diagnostic Imaging Market Continues to Expand
As one of the largest markets for the manufacture of diagnostic imaging equipment in the world, the United States accounted for more than 35 percent of the global marketplace in 2009. Thanks to a population that is growing older and greater availability of healthcare, the value of this market is expected to reach $7.7 billion within the next five years. Despite expected cuts in Medicare’s physician’s fees and lower reimbursements overall, imaging equipment manufacturers see incredible growth opportunities in key areas such as ultrasound technology.
As more people around the globe are expected to have access to healthcare in 2011, and personal incomes continue to increase, many facilities in Brazil, China and India are installing more advanced equipment, including diagnostic imaging machines. With an increase in sales of higher-end systems, global revenues from these systems are likely to rise from $2.1 billion in 2009 to over $5 billion in 2016.
While all types of diagnostic imaging machines are included in these projections, the fastest growing diagnostic tool is ultrasound. The major players in this space include Philips Healthcare, Siemens Healthcare and GE Healthcare, each of which manufactures several different products to serve the global diagnostic imaging market. While all three of these companies have strong ties within the US and Europe, they are all heavily targeting the BRIC nations (Brazil, India, China), as well as other emerging economies, for potential acquisitions.
Increasingly, major manufacturers of diagnostic ultrasound machines and nuclear imaging systems are seeking updated information on the market dynamics that will influence their penetration into new markets. Other medical equipment manufacturers are also exploring their potential as “global suppliers”. The six key market categories for these companies are computed tomography (CT) systems, , MRI systems, nuclear imaging equipment, x-ray systems, mammography equipment and ultrasound machines.
As technological advances are made on an almost-daily basis, Siemens, GE and Philips are poised for double-digit growth in the years to come.






