The U.S. medical imaging products market is expected to increase by 6% annually to $21.4 billion by 2010, according to a recently published study by market research firm the Freedonia Group of Cleveland.
The company said technological advances, along with aging demographic patterns and changing healthcare approaches, will promote this growth.
Freedonia is particularly upbeat about the medical imaging equipment market, projecting that it will post demand of more than $16 billion in 2010, up 6.8% annually from 2005. It said that CT scanners will lead growth as hospitals and outpatient facilities replace earlier generation machines with new multislice models.
The firm is equally optimistic about the growth of MRI and PET/CT, stating that high field strength MR scanners, due to shorter scanning times and enhanced image resolution, will account for the largest share of new MRI installations through 2010 and beyond; and that PET/CT installations will grow at a strong pace based on the modality's dual anatomical and metabolic scanning capabilities.
The group holds that nuclear medicine and ultrasound equipment will fare better than x-ray and fluoroscopy systems in the healthcare sector, although the continuing replacement of conventional analog machines with CR and DR devices will provide modest growth in this area in spite of maturing markets.
The medical imaging consumables market is projected to expand 3.6% annually to $5.3 billion in 2010, according to Freedonia. Radiopharmaceuticals will provide the best growth opportunities based on rising numbers of nuclear medicine and PET procedures, as well as increasing professional preferences for biotechnology-derived substances that enhance image resolution and detail, the company said.
By AuntMinnie.com staff writers
January 5, 2007
Related Reading
Study: U.S. MR market hits $1.4 billion, December 1, 2006
CT exams show 8% annualized growth rate, November 7, 2006
MRI market to top $4 billion by 2010, September 5, 2006
IMV report finds strong PET procedure growth, August 24, 2006
IMV reports nuclear medicine growth, July 24, 2006
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