Diagnostic Imaging Market Global Industry Analysis by Growth, Trends, and Demand Forecast to 2022

The diagnostic imaging market is projected to reach $39.0 billion by 2022, growing at a CAGR of 4.9% between 2016-2022.
The growing geriatric population, increasing prevalence of chronic diseases, technological advancement and widening application of diagnostic imaging devices, increasing need for diagnostic imaging procedures, and increasing healthcare expenditure are driving the growth of the market.

In terms of type, the diagnostic imaging market is segmented into x-ray imaging, ultrasound imaging, MRI, CT, nuclear imaging and others. The x-ray imaging devices accounted for the major share in the global market in 2015, and ultrasound imaging is the segment to witness the highest growth during 2016-2022.

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The Asia-Pacific market for diagnostic imaging is set to reach $10.2 billion by 2022. The market is expected to witness the fastest growth in Asia-Pacific due to improving healthcare infrastructure, increasing prevalence of chronic diseases and growing geriatric population. Among the countries of the Asia-Pacific region, the Chinese market is expected to grow at a CAGR of 6.7% during the forecast period. In Japan is the largest market for diagnostic imaging in Asia-Pacific. The growth of diagnostic imaging market in the country is driven by increasing healthcare expenditure, increasing prevalence of chronic diseases and aging population. The geriatric population in Japan is increasing every year.

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Companies in the diagnostic imaging market are entering into partnerships with other firms to improve their position in the market. For instance, in February 2016, Carestream Health signed a strategic partnership agreement with Alibaba Health to create a medical image management cloud platform that supports reading and sharing of clinical images, including radiology, cardiology, oncology, endoscopy, dermatology, pathology and more. Using Alibaba Health’s online healthcare services platform alihealth.com, Carestream will supply enterprise image management capabilities using its clinical collaboration platform.

Some of the key companies operating in the diagnostic imaging market include Siemens AG, Koninklijke Philips N.V., General Electric Company, Hitachi Ltd., Toshiba Corporation, Shimadzu Corporation, FUJIFILM Holdings Corporation, SAMSUNG, and Esaote SpA.

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Obesity Surgery Devices Market Witness Fastest Growth in Gastric Balloons

The market is growing mainly due to increasing prevalence of obesity leading to high demand for obesity surgeries, rising awareness about bariatric surgery in obese population, lifestyle changes leading to high risk of obesity, and technological advancements in the obesity surgery devices industry.

In terms of device type, the obesity surgery devices market is categorized into gastric bands, gastric balloons, stapling devices, gastric electrical stimulators, and others. Stapling devices held the largest share of the obesity surgery devices industry, owing to their high application in all types of bariatric surgeries to staple the stomach and intestine parts. The market will witness fastest growth in gastric balloons, during the forecast period, as these are less invasive and cheaper weight loss therapy.

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The players operating in the global obesity surgery devices market have been continuously making efforts to come up with technologically advanced devices for bariatric surgeries. In June 2015, Medtronic PLC launched GastriSail, a device for sleeve gastrectomy, that can be used as standalone device, whereas, the traditional method of performing sleeve gastrectomy involves the use of three devices. The device posed lesser risk of infection and discomfort as compared to the traditional method. Also, the European Medicines Agency (EMA) had recently approved Elipse device of Allurion Technologies Inc., a procedure less balloon intended to be swallowed and naturally excreted without endoscopy, surgery or anaesthesia. These devices have made the procedure of performing bariatric surgery less time consuming and more effective. The increased effectiveness, and reduced invasiveness and risk of infection, have resulted in more number obese people showing interest in undergoing an obesity surgery, driving the demand for obesity surgery devices.

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Europe is the second largest market for obesity surgery devices, accounting for 25.7% of the worldwide market in 2016. The European market for obesity surgery devices is set to reach $683.6 million by 2023, growing at a CAGR of between 9.3% 2017-2023. The market growth in Europe is mainly attributable to the increasing aging population and rising number of surgical procedures performed for the treatment of obesity in the region. Among all the European countries, France is expected to project the fastest growth in the European obesity surgery devices market, with the CAGR expected to increase from 9.0% during historical period to 10.3% during forecast period. The growth in the country is mainly due to the increasing prevalence of overweight and obesity, and high ratio of number of bariatric surgeries to the number of obese population in France as compared to other European countries.
Companies are undergoing mergers and acquisitions to gain a larger market share

Some of the key manufacturers operating in the obesity surgery devices market include Medtronic plc, Johnson & Johnson, Spatz FGIA Inc., W. L. Gore & Associates, Inc., ReShape Lifesciences, Inc. (formerly EnteroMedics Inc.), and Cousin Biotech.

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Intraocular Lens (IOLs) Market Outlook - Top Companies, Trends and Future Prospects Details

The global intraocular lens market is expected to grow in the forecast period due to growing number of vision correction procedures, advances and innovations in intraocular lens products and cataract procedures and increasing prevalence of cataract. On the basis of product, the market is expected to be led by monofocal lens as they have a fixed focus for one distance, are less expensive and are beneficial for patients with cataract in both eyes.

The IOL market is segmented on the basis of product, material and end user. PMMA, silicone and hydrophobic acrylic are the most commonly used materials for manufacturing lenses, other than these, hydrophilic acrylates and collamer are also used. The different type of lenses available in the market are monofocal and premium. Further, different types of premium lenses include accommodating, toric, phakic, blue light filtering and aspheric lenses.

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Increasing incidence of ophthalmic and ocular conditions, rising geriatric population, growing number of vision correction procedures, advances and innovations in intraocular products and procedures, spur in the adoption of premium intraocular lens, and increasing prevalence of cataract and growth in number of diabetic population are among the various factors boosting the growth of IOL market. According to WHO Prevention of Blindness and Deafness Programme, around 285 million people are visually impaired worldwide, 39 million are blind and 246 million have low vision (severe or moderate visual impairment), with cataracts, glaucoma and AMD being the top causes of the blindness.

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Untapped emerging market and advancements in phacoemulsification and intraocular lens technology have ushered in a new era of cataract surgery in the market. In November 2017, the United States Food and Drug Administration (USFDA) approved an IOL system namely, RxSight Inc. Light Adjustable Lens and Light Delivery Device. This lens is applicable for the patients with pre-existing astigmatism of ≥0.75 diopters undergoing, cataract surgery and offers adjustment post-operatively to improve uncorrected visual acuity.

Some of the key players operating in the IOL industry include Johnson & Johnson, Carl Zeiss Meditec AG, Valeant Pharmaceuticals International, Inc., Novartis AG, Oculentis GmbH, Eyekon Medical, Inc., STAAR Surgical Company, and HumanOptics AG.

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Intraoperative Neuromonitoring Market Share, Industry key Players, and Growth Opportunities

Global intraoperative neuromonitoring market is forecasted to reach around $5.5 billion by 2023. The growth in the market will be led by the ageing population, increasing prevalence of chronic disorders, applications of IONM in different surgeries, and risk management through IONM during complex surgeries.


On the basis of source type, the intraoperative neuromonitoring industry has been categorized insourced monitoring and outsourced monitoring. The insourced monitoring constituted more than 60% share of the intraoperative neuromonitoring market, globally. However, this share is expected to decrease during the forecast period due to the low maintenance cost associated with outsourced monitoring. Furthermore, the hospital has to provide training and other facilities to its IONM staff on a regular basis, which leads to additional expenses and is a tough task for the hospital.

The global intraoperative neuromonitoring market for brainstem auditory evoked potentials (BAEPs) is expected to witness the fastest growth in demand, registering a CAGR in of around 8% during the forecast period. The other IONM modalities include somatosensory evoked potentials (SSEPs), motor evoked potentials (MEPs), electromyography (EMG), electroencephalography (EEG), and visual evoked potentials (VEPs).

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The IONM applications involve spinal surgery, neurosurgery, vascular surgery, ENT surgery, orthopedic surgery, and other surgeries. Among the available applications of IONM, orthopedic surgery is estimated to witness the fastest growth in demand at a CAGR of 7.9% during the forecast period. By end user, the intraoperative neuromonitoring market is led by hospitals contributing more than $2 billion in 2016. The large number of hospitals is the major factor to its large share in the market.

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Asia-Pacific is the potential intraoperative neuromonitoring market for the growth of due to the high population base, presence of unmet medical needs, and increasing disposable incomes of people in the region. Moreover, the medical tourism and technological advancements make Asia-Pacific a lucrative market for IONM. It is estimated that the APAC will witness the fastest growth in demand at a CAGR of 8.6% during the forecast period.

Some of the other key players operating in the global intraoperative neuromonitoring market are Accurate Monitoring LLC, Computational Diagnostics, Inc., IntraNerve, LLC, Inomed Medizintechnik GmbH, Medtronic plc, and SpecialtyCare.


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MRI Compatible Patient Monitoring System Market Trends, Drivers, and Growth Opportunities

The global MRI compatible patient monitoring systems market is growing, due to increasing installation of MRI devices. The increase in geriatric population worldwide is resulting in the growth of the global MRI compatible patient monitoring systems market, as the geriatric population is more susceptible to diseases, sickness and syndromes, due to less regenerative abilities.

According to a United Nations Department of Economic and Social Affairs (UN-DESA) report on the global aging population, the population of individuals aged 60 years or above is growing at a very high rate. In addition, with the increase in chronic disease cases, accurate diagnosis is needed for the prevention and treatment of such diseases; thus leading to increased usage of MRI scans for the diagnosis of chronic diseases. Moreover, the increase in prevalence of chronic diseases is likely to increase the demand for monitoring during scan, which is leading to increased demand for MRI compatible patient monitoring systems.

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MRI scanners use strong magnetic fields and radio waves, in order to produce images of body structure for the diagnosis of various medical conditions. Any loose metal device in an MRI environment may get pulled towards the magnet, and could cause serious injury or damage. Hence, different countries have their respective regulatory agencies for the approval of MRI compatible devices.
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Europe is witnessing growth in MRI compatible patient monitoring systems market, which is attributed to increasing geriatric population, high incidences of chronic diseases and growing awareness among healthcare providers for the usage of MRI compatible patient monitoring systems. According to the European Society of Cardiology, a non-profit health association, each year four million people die in Europe due to cardiovascular diseases, which is responsible for 47% death toll in the region.

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Similarly, the Asia-Pacific MRI compatible patient monitoring systems market is expected to grow at the fastest rate during the period 2015 – 2020. According to the OECD, in 2002, the number of MRI units per million inhabitants in Japan was 35.32, which increased to 46.87 in 2011.
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