|Market Size in 2023||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 5.77 Billion||USD 9.86 Billion||4.95%||2022|
BRIC Diagnostic Imaging Equipment Market
The global BRIC diagnostic imaging equipment market size was evaluated at $5.77 billion in 2022 and is slated to hit $9.86 billion by the end of 2030 with a CAGR of nearly 4.95% between 2023 and 2030.
BRIC, also referred to as benign recurrent intrahepatic cholestasis, is an exceptional autosomal recessive disorder caused due to recurrent self-limited incidents of cholestasis occurring as a result of steatorrhea, pruritus, fatigue, anorexia, and jaundice. Moreover, the incidents can be spontaneous or caused due to infections as well as pregnancy and can last for weeks & months. In addition to this, the diagnosis of the BRICS depends on compatible clinical presentations, laboratory parameters, and histology with the omission of other cholestasis causes and genetic testing confirmation. Moreover, treatment of the disorder can offer relief to patients, reduce cases of disorders, and prevent complications occurring due to the disease. Hence, the BRIC diagnostic imaging device is gaining acceptance in the healthcare sector.
Rise in the disease burden will culminate in huge growth of the market globally by 2023
Rise in the target disease burden along with a surge in the allocation of funds for diagnosing BRIC disorders will steer the global BRIC diagnostic imaging equipment market trends. A prominent increase in the aging populace prone to the disease will further proliferate the expansion of the global market in the years ahead. Technological innovations in imaging modalities and a rise in the allocation of funds from public and private institutions will steer the global market surge in the years ahead. New product launches have favorably influenced the market and will continue to do so even in the foreseeable future. For instance, in the first half of 2019, GE Healthcare introduced Vector CT Scan in China. Such moves will boost the global market trends.
High preliminary capital investment costs can hinder global industry growth
Huge costs of raw materials and massive costs of initial installation of the device can hinder the expansion of the global BRIC diagnostic imaging equipment industry.
Lucrative features of the product can open new growth opportunities for the global market
End-user-friendly characteristics of the product and spectrum of the product applications in the healthcare sector will create new avenues of growth for the global BRIC diagnostic imaging equipment market in the years ahead.
Stringent government legislation regulating product use can prove to be detrimental to the global industry expansion
Strict government policies related to the use of BRIC diagnostic imaging equipment in the healthcare sector will prove to be a huge challenge in the growth of the global BRIC diagnostic imaging equipment industry. Apart from this, strict medical device approval guidelines enforced by healthcare authorities such as the U.S. FDA and European Medicines Agency can further deter the global industry elevation over the assessment period.
The global BRIC diagnostic imaging equipment market is sectored into modality, end-user, and region.
In modality terms, the global BRIC diagnostic imaging equipment market is segregated into X-ray systems, nuclear imaging systems, MRI systems, mammography systems, ultrasound imaging systems, and CT scanners segments. Furthermore, the MRI systems segment, which gathered nearly 50% of the global market revenue share in 2022, is projected to register the highest CAGR in the forecasting years. The growth of the segment in the estimated timeline can be due to technological innovations in medical devices which add new features to the devices.
Based on the end-user, the BRIC diagnostic imaging equipment industry is sectored into hospitals and diagnostic imaging centers segments. Moreover, the hospitals segment, which garnered a huge chunk of the global industry proceeds in 2022, is projected to lead the global industry over the analysis period. The segmental expansion over the assessment timeline can be due to a rise in the diagnostic imaging processes performed in hospitals & clinics. Apart from this, large-scale adoption of minimally invasive procedures in hospitals for enhancing patient care will drive the segmental surge over the upcoming years.
|Report Attributes||Report Details|
|Report Name||BRIC Diagnostic Imaging Equipment Market|
|Market Size in 2022||USD 5.77 Billion|
|Market Forecast in 2030||USD 9.86 Billion|
|Growth Rate||CAGR of 4.95%|
|Number of Pages||224|
|Key Companies Covered||United Imaging Healthcare Company Limited, Siemens Healthineers, GE Healthcare, Neusoft Corporation, Basler AG, Carestream Healthcare Inc., Arterys, Hologic Inc., AiCure, CURA Healthcare, iCAD Inc., and others.|
|Segments Covered||By Modality, By End-User, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America is anticipated to maintain global market domination over the anticipated timespan
North America, which contributed about two-thirds of the global BRIC diagnostic imaging equipment market revenue in 2022, is likely to maintain its market dominance over the projected time interval. Furthermore, the regional market growth can be due to rising awareness about the advantages provided by diagnostic imaging equipment in the healthcare sector. Apart from this, the huge presence of giant medical device manufacturers in countries such as Canada and the U.S. will further pave the way for the growth of the regional market in the upcoming years.
Asia-Pacific BRIC diagnostic imaging equipment industry is set to register the fastest CAGR in the forthcoming years owing to the presence of strong healthcare infrastructure facilities & a mammoth number of healthcare units, favorable compensation policies, and low medical device costs due to less cost of production & lower maintenance charges. Furthermore, countries such as China and India are likely to be the major regional revenue pockets in the foreseeable future.
The global BRIC diagnostic imaging equipment market profiles key players such as:
BRIC which is also referred to as benign recurrent intrahepatic cholestasis is an exceptional autosomal recessive disorder caused due to recurrent self-limited incidents of cholestasis occurring as a result of steatorrhea, pruritus, fatigue, anorexia, and jaundice.
The global diagnostic imaging equipment market growth can be owing to a prominent increase in the aging populace prone to the disease.
According to a study, the global diagnostic imaging equipment industry size was $5.77 billion in 2022 and is projected to reach $9.86 billion by the end of 2030.
The global diagnostic imaging equipment market is anticipated to record a CAGR of nearly 4.95% from 2023 to 2030.
The Asia-Pacific BRIC diagnostic imaging equipment industry is set to register the highest CAGR over the forecasting timeline owing to the presence of strong healthcare infrastructure facility & a mammoth number of healthcare units, favorable compensation policies, and low medical device costs due to less cost of production & lower maintenance charges.
The global BRIC diagnostic imaging equipment market is led by players such as United Imaging Healthcare Company Limited, Siemens Healthineers, GE Healthcare, Neusoft Corporation, Basler AG, Carestream Healthcare, Inc., Arterys, Hologic Inc., AiCure, CURA Healthcare, and iCAD Inc.
The BRIC diagnostic imaging equipment market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.