The global Mobile Vascular Imaging Market size is expected to reach USD 12.85 Billion in 2028 and register a revenue CAGR of 6.9% over the forecast period, according to the latest report by Reports and Data. Rising prevalence of vascular disorders and increasing preference for minimally invasive diagnostic procedures are some key factors expected to drive market revenue growth over the forecast period. In addition, use of advanced imaging equipment in hybrid operating rooms is also expected to contribute significantly to revenue growth of the market going ahead.
A hybrid room combines the features of an interventional room and traditional vascular and cardiac surgery operating theatre. In recent years, hybrid operation rooms are increasingly preferred as these facilities enables to carry out increasingly complex, minimally invasive, faster and more precise diagnostic procedures associated with cardiovascular surgery such as the treatment of an aneurysm or aortic dissection. The hybrid room implements state-of-the-art equipment to facilitate treatment of these diseases in a percutaneous manner and also facilitates introduction of customized prostheses adapted to each patient’s anatomy. This is expected to drive revenue growth of the market.
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Now that the tide is turning, more worldwide growth in the pharmaceutical business is likely to come from emerging nations, particularly China, where health systems are rapidly developing. Despite the fact that only a few acquisitions were announced or completed, tremendous growth is projected in the future years.
Significantly, China’s adoption of health insurance and broader healthcare reforms last year effectively created a market of one billion people overnight. However, generic medications account for 76% of the Chinese market, making it difficult for European and American multinationals to capitalize on market prospects.
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In the past, developed countries were hesitant to trade in emerging markets, with only a few multinational pharmaceutical companies making acquisitions in Latin America, India, or China. However, with tremendous development potential in the East, major businesses in the pharmaceutical industry should explore acquisitions in China aggressively to gain a presence.
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Some Key Highlights From the Report:
- In August 2020, Koniklijke Philips NV announced the acquisition of Intact Vascular Inc. to expand the portfolio of minimally invasive therapy options for peripheral artery disease. Through this acquisition, Philips will integrate Intact Vascular’s specialized implantable device with Philips interventional imaging systems and its diagnostic and therapeutic devices for optimizing and providing a complete procedural solution for peripheral artery disease treatment.
- Peripheral angiography segment revenue is expected to expand at a rapid CAGR over the forecast period, attributable to rising prevalence of peripheral arterial diseases and increasing use of peripheral angiography procedure to identify and evaluate blockage or any abnormalities in leg, arm, or neck.
- Magnetic resonance angiography segment is expected to account for largest revenue share over the forecast period owing to increasing use of this technique for identifying vascular anomalies such as cerebral aneurysms, arterial lesions in sickle cell disease, arterial ischemic infarction, and other vascular anomalies.
- Therapeutics segment is expected to register a significantly steady revenue CAGR owing to rapid development of targeted therapies and approaches, rising focus on preventive measures, and rapid implementation of advanced diagnostic techniques to increase success rate of treatments during early stage of disease.
- Diagnostic imaging centers segment revenue is expected to expand at a robust CAGR over the forecast period owing to increasing private and public funding to develop state-of-the-art imaging facilities, enable improved accessibility, presence of skilled radiologists, and increasing preference for outpatient imaging services.
- North America is expected to account for largest revenue share over the forecast period, attributable to rising prevalence of chronic disorders, increasing demand for mobile vascular imaging devices, availability of favorable reimbursement policies, and increasing funding to adopt technologically advanced imaging modalities in hospitals and centers in countries in the region.
- Some major players in the global market include Siemens Healthineers AG, GE Healthcare Inc., Carestream Health Inc., Koninklijke Philips NV, Samsung Medison Co. Ltd., Toshiba Medical Systems Corporation, Mindray Medical International Ltd., Shimadzu Corporation, Evena Medical Inc., and Omega Medical Imaging LLC.
For the purpose of this report, Reports and Data has segmented the Mobile Vascular Imaging Market based on procedure, technology, application, end-use, and region:
Procedure Outlook (Revenue, USD Billion; 2018-2028)
- Coronary Angiography
- Peripheral Angiography
- Neurovascular Angiography
- Vascular Ultrasound Procedures
- Others
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Magnetic Resonance Imaging Angiography
- Computed Tomography Angiography
- Ultrasound
- X-Ray
- Nuclear Imaging
Application Outlook (Revenue, USD Billion; 2018-2028)
- Diagnostic
- Therapeutic
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Diagnostic Imaging Centers
- Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Growing advancements in medical therapies to drive market growth
The pharmaceutical and healthcare industry is driven by rapid advancements in customized therapies, medical devices, and surgical procedures. Integration of advanced technologies to accelerate research and development and manufacturing and production activities are some other factors driving market growth.
High prices of certain drugs might affect revenue growth
Launch of high-priced drugs to treat rare and chronic diseases and lesser affordability in middle- and low-income regions might limit their adoption and restrain market growth going ahead. In addition, less knowledge and awareness regarding advanced treatment approaches and lower adoption of advanced technologies might further hamper market growth over the forecast period.
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