Vascular Imaging Systems Market
Vascular Imaging Systems Market by Product Type, End User & Region – Forecast 2022–2032
Market Insights on Vascular Imaging Systems covering sales outlook, demand forecast and up-to-date key trends
Vascular Imaging Systems Market Overview
The vascular imaging systems market is expected to be valued at US$ 34.20 billion by 2032. The market is expected to grow at a CAGR of 4.8% during the period 2022-2032, and as of 2022, the market is valued at US$ 21.4 billion.
Vascular Imaging Systems Market Value (2022)
US$ 21.4 billion
Vascular Imaging Systems Market Forecast Value (2032)
US$ 34.20 billion
Vascular Imaging Systems Market Expected CAGR (2022 to 2032)
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An increase in the prevalence of hypertension and diabetes is expected to surge the demand for vascular imaging systems during the forecast period. Hypertension and diabetes increase the risk of vascular disorders like carotid blockage, atherosclerosis, etc., and these are the areas where vascular imaging devices find their application.
Increasing adoption of diagnostic equipment to prevent mortality, coupled with a surging application of preventive healthcare techniques is expected to surge the market growth. Additionally, the market is also witnessing continuous technological advancements to provide safer diagnosis with optimum efficiency. This is expected to have a strong effect on the vascular imaging systems market outlook.
Furthermore, an increase in the adoption of non-invasive diagnostic imaging along with establishment of efficient clinical guidelines is expected to surge the market share. further, an increase in the geriatric population worldwide is also expected to surge the market growth of vascular imaging systems. Moreover, the utilization of ultrasound in order to calculate certain parameters makes this process extremely safe.
An increase in the number of diagnostic centers is expected to bring a lot of prospects. This coupled with increased investment in the R&D to develop better quality systems is expected to present new opportunities in front of the market. Apart from that, the acceptance of refurbished vascular imaging systems is also expected to present lucrative opportunities.
However, high price of the system is expected to restrain the market growth during the forecast period. Moreover, the market is also experiencing scarcity of skilled workers. Furthermore, an increasing number of players would mean price war within the sector, which would ultimately impact the profitability of the business. This as well is expected to challenge the market growth of vascular imaging systems during the forecast period.
By end user
Based on the end user, the hospital segment is expected to hold the highest market share during the forecast period. The growth of this segment can mainly be attributed to large number of patients in the hospitals and high competition among healthcare service providers. However, the diagnostic imaging centers are expected to exhibit the highest CAGR owing to the low cost charged by them.
Based on the regional insights, the North American region is expected to hold the highest market share. Prevalence of cardiovascular diseases, coupled with increasing incidences of stroke is expected to surge the market growth in North America during the forecast period.
Europe is expected to be the second largest market owing to a large number of obesity cases. This is mainly due to rising behavioral risk factors like smoking, alcohol consumption, sedentary lifestyle, etc. Apart from that, the region is also witnessing replacement of conventional devices with technologically advanced versions.
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.
Vascular Imaging Systems Market: Drivers and Restraints
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.
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.
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Vascular Imaging Systems Market: Region – wise 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.
Asia – Pacific excluding Japan market is expected to witness high revenue growth over the forecast period owing to growing geriatric population and increasing awareness about the new technologies in the vascular imaging systems. Growing number of hospitals in countries like China and India are expected to provide high growth opportunities for the manufacturers.
Western Europe, Latin America and MEA regions are also expected to witness significant growth in the vascular imaging systems market due to growing public and private healthcare expenditure in these countries.
Vascular Imaging Systems Market: Participants
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
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and technology.
The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- APEJ (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Vascular Imaging Systems Market: Segmentation
By Product Type
- Computed Tomography (CT) Systems
- Magnetic Resonance (MR) Systems
- X-ray Systems
- Ultrasound Systems
By End User
- Specialty Clinics
- Diagnostic Centers
Frequently Asked Questions
What is the Growth Outlook for Vascular Imaging Systems Market?
The market is likely to register a CAGR of 4.8% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 21.4 Bn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 34.20 Bn by 2032.
Which is the Leading Region in the Market?
North America is likely to be a leading market during the forecast period.