Global Medical Imaging Equipment Market: Growing Demand for X-Ray Imaging Equipment to Drive Market
Recent developments in the 3D imaging technology have propelled the growth of the global medical imaging equipment market. The rapidly growing geriatric population across the U.S. and Japan, coupled with the growing prevalence of chronic diseases is expected to drive the market in the coming years. The global medical imaging equipment market was worth US$27,705.8 mn in 2014. The market is anticipated to expand at a CAGR of 5.6% during the period between 2015 and 2023 and reach a valuation of US$45,305.0 mn by 2023. A number of initiatives taken by the government and private organizations will augment the growth of the global medical imaging equipment market. However, the growing pressure on healthcare budgets in the U.S., along with the low adoption of digital technology-based systems, MRI scanners, and conventional CT among patients will restrain the overall market. Excise duty imposed on medical device manufacturers in countries such as the U.S. will further hampe...