Vascular Imaging Systems Market: Overview
The vascular imaging systems market is expected to witness a robust growth over the forecast period. Development of new innovative products and increasing demand from the emerging economies along with growing public expenditure on healthcare facilities is expected to create high growth opportunities for the vascular imaging system manufacturers.
Vascular imaging tests are used for assess how the blood flows through the veins and vesicles for diagnosis of the disease. Using vascular imaging tests surgeons can gather information required for performing surgical procedures.
Vascular imaging procedures are performed by using techniques like ultrasound, CT (computed tomography), magnetic resonance imaging (MRI) and others which provide detailed images of how the blood flows through the body and enables surgeons to examine blockages in the veins, weakening of the arterial walls, detect blood clots, evaluate the graft surgeries, analyzing the severity of varicose veins, plaque buildup that causes narrowing in the arteries. Vascular imaging techniques are widely used for performing procedures like angiography with ease.
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Vascular Imaging Systems Market: Dynamics
The demand for vascular imaging systems is expected to witness high growth over the forecast period owing to growing number of patients suffering from cardiovascular diseases (CVD). According to the World Health Organization (WHO) cardiovascular diseases are the number one cause of death globally and are estimated to account for nearly 17.3 million deaths annually. Increasing number of cardiovascular diseases is expected to propel demand for vascular imaging systems required for diagnosis of the CVDs. Introduction of new vascular imaging systems and growing adoption of minimally invasive surgeries is expected to boost demand for vascular imaging systems over the forecast period.
Moreover technological advancements in imaging systems like introduction of 3D imaging over 2D imaging is expected to boost adoption rate of vascular imaging systems. Angiography is widely performed in old people, increasing global geriatric population is also expected to increase demand for vascular imaging systems.
However the high price of the systems and lack of expertise to handle imaging equipment and pricing pressure on the manufacturers owing to fierce competition among market participants may hamper the revenue growth of the vascular imaging systems market. Moreover owing to large number of hospital network operating under one organization, these networks can leverage the price of the medical devices with the manufacturers of vascular imaging systems and in turn reducing their profitability margins.
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Vascular Imaging Systems Market: Regional Outlook
Geographically the global vascular imaging systems market is segmented into seven regions: North America, Latin America, Western Europe, Eastern Europe, Asia – Pacific excluding Japan, Japan, Middle East and Africa. North America is expected to be the leading market in global vascular imaging systems market.
High capital investment among end users like multi – specialty hospitals in the U.S. is expected to boost demand for vascular imaging systems in the North America region. Western Europe is expected to be the second most lucrative market in the global vascular imaging systems market owing to high investment in healthcare industry.
Increase in the number of interventional surgeries and growing number of cardio – vascular diseases in the North America and Western Europe is expected to create high opportunity for vascular imaging systems market.
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Vascular Imaging Systems Market: Key Players
Some participants in the global vascular imaging systems market are Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., OrthoScan, Inc., Toshiba Medical Systems Corporation, Shimadzu Corporation, Hitachi Aloka Medical America, Inc., Carestream Health and others. The companies are focusing on development of easy to use vascular imaging systems with high image quality in order to compete in the market.
Vascular Imaging Systems Market Segmentation:
By Product Type
- Computed Tomography (CT) Systems
- Magnetic Resonance (MR) Systems
- X-ray Systems
- Ultrasound Systems
By End User
- Hospitals
- Specialty Clinics
- Diagnostic Centers
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