Melinda Taschetta-Millane, Editorial Director
Melinda Taschetta-Millane, Editorial Director
Blog | Melinda Taschetta-Millane, Editorial Director | Radiology Imaging | July 03, 2018

What is the Future of Medical Imaging Equipment?

What is the Future of  Medical Imaging Equipment?

According to ResearchAndMarkets.com’s new industry report, the “Medical Imaging Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024,” the global medical imaging market is predicted to grow with a compound annual growth rate (CAGR) of 6.56 percent over the forecast period of 2018-2024. The study on the medical imaging market covers the analysis of the leading geographies including North America, Europe and Asia-Pacific for the period of 2016 to 2024.

The global market size of the medical imaging market is worth $29.48 billion and it is projected to reach to $46.18 billion by 2024, according to the research firm. It cites major components driving growth in the medical imaging market to include rising age demographics, growth in the incidence of various diseases, and increasing awareness for early stage chronic disease detection and diagnosis. The report goes on to say that “factors such as increasing investments and grants by government bodies for modernization of imaging facilities and technological advancements in diagnostics imaging modalities are too responsible to augment growth of the medical imaging market. However, factors such as high cost of diagnostic imaging systems and technological limitations associated with stationary/standalone imaging systems will hinder the growth of the medical imaging markets.”

How will the newly released Office of the U.S. Trade Representative’s (USTR) much-anticipated list of Chinese-manufactured goods that will be subjected to 25 percent tariffs affect this, seeing as medical imaging equipment systems and parts are featured prominently on the list?

Several modalities will be impacted by the tariffs, which will be collected beginning July 6, including X-ray, computed tomography (CT), magnetic resonance imaging (MRI) and ultrasound. The full list includes the “apparatus,” parts and accessories for each modality, as well as radiation generator units and radiation beam delivery units. The USTR list also includes apparatus based on the use of alpha, beta or gamma radiations for medical, surgical, dental or veterinary use, and the parts and accessories thereof.

The inclusion of medical imaging equipment on the tariff list was anticipated by medical imaging technology societies in the U.S., which have been working with Congress to have these key pieces of equipment from their market excluded from the final penalties. The Medical Imaging and Technology Alliance (MITA) released a statement in late May praising the Congressional authors of a bipartisan letter urging the U.S. Trade Representative, Robert Lighthizer, to exempt almost $3 billion worth of medical products from the tariffs. The National Electrical Manufacturers Association (NEMA), the parent organization of MITA, has also voiced opposition to the tariffs on radiological equipment.

You can read the full Congressional letter here: https://bit.ly/2yygR7M

And read the full USTR release here: https://bit.ly/2MtOfQ2

The complete list of goods can be found here: https://bit.ly/2JQPMku

 

Augmented Content

Hopefully you have been taking advantage of our Blippar content. It’s an innovative way for you to view expanded content in several of our features in each issue. This issue, our augmented print campaign begins on page 3. You can watch the VIDEO “Radiation Planning Assistant - A Streamlined, Fully Automated Radiotherapy Treatment Planning System” for additional treatment planning information. On page 14, you can learn more about proton therapy by viewing the VIDEO “Clinical Considerations for Proton Therapy.” To learn more about how some hospitals are launching mobile stroke unit programs, watch the VIDEO “Creating and Operating a Mobile Stroke Unit” on page 32. You can use Blippar in three easy steps — download the app, hover over this page with the viewfinder and view the enhanced content.

Related Content

Imaging volumes in hospitals and practices previously slowed by the coronavirus pandemic continue to hold steady, according to new QuickPoLL survey results that gauge how radiologists feel about current business and the impact of COVID-19.
Feature | Coronavirus (COVID-19) | August 03, 2020 | By Melinda Taschetta-Millane
Imaging volumes in hospitals and practices previously slowed by the coronavirus pandemic continue to hold steady, acc
According to the new market research report "Radiation Dose Management Market by Products & Services (Standalone Solutions, Integrated Solutions, Services), Modality (Computed Tomography, Nuclear Medicine), Application (Oncology, Cardiology, Orthopedic), End User (Hospitals) - Global Forecast to 2025", published by MarketsandMarkets, the radiation dose management market is projected to reach USD 422.65 million by 2025 from USD 220.22 million in 2020, at a CAGR of 13.9%.

Courtesy of MarketsandMarkets Research

News | Radiation Dose Management | August 03, 2020
August 3, 2020 — According to the new market research report "...
Siemens AG is continuing to rigorously execute its Vision 2020+ strategy and therefore expressly welcomes Siemens Healthineers AG’s acquisition of a 100 percent stake in Varian Medical Systems, Inc., a U.S. company active in the area of cancer research and therapy.

Getty Images

News | Radiology Business | August 03, 2020
August 3, 2020 — Siemens AG is continuing to rigorously execute its Vision 2020+ strategy and therefore expressly wel
Franco Fontana, CEO of the Esaote Group, and Xie Yufeng, Chairman of WDM.

Franco Fontana, CEO of the Esaote Group, and Xie Yufeng, Chairman of WDM.

News | Digital Radiography (DR) | July 31, 2020
July 31, 2020 — In the thick of the COVID-19 eme
Older Americans may be receiving cancer screenings not recommended by the U.S. Preventive Services Task Force, according to Penn State College of Medicine researchers.

Getty Images

News | Radiology Imaging | July 31, 2020
July 31, 2020 — Older Americans may be receiving cancer screenings not recommended by the...
A World Health Organization (WHO) rapid advice guide on the use of chest imaging in the diagnosis and management of COVID-19 was published in the journal Radiology.

Getty Images

News | Coronavirus (COVID-19) | July 30, 2020
July 30, 2020 — A World Health Organization (WHO) rapid advice gui
It covers every major modality, including breast imaging/mammography, fixed and portable C-arms (cath, IR/angio, hybrid, OR), CT, MRI, nuclear medicine, radiographic fluoroscopy, ultrasound and X-ray
News | Radiology Imaging | July 29, 2020
July 29, 2020 — IMV Medical Information, part of Scien...
Left, a 3-D rendering of a heart from a cardiac CT exam. Right, a lung-CT exam showing the heart and ground glass lesions in the lungs of a COVID-19 patient. CT has become a front-line imaging modality in the COVID era because it offers both cardiac and lung information to help determine a patients disposition with chest pain, COVID-19 and COVID-caused myocarditis and pulmonary embolism. #COVID19 #CCTfirst #YesCCT

Left, a 3-D rendering of a heart from a cardiac CT exam. Right, a lung-CT exam showing the heart and ground glass lesions in the lungs of a COVID-19 patient. CT has become a front-line imaging modality in the COVID era because it offers both cardiac and lung information to help determine a patients disposition with chest pain, COVID-19 and COVID-caused myocarditis and pulmonary embolism.

Feature | Computed Tomography (CT) | July 28, 2020
July 28, 2020 — The use of cardiova...
 The Radiological Society of North America (RSNA) has been awarded a $750,000 grant by the Department of Energy’s National Nuclear Security Administration (NNSA) to develop a Global Learning Center (GLC) in Sub-Saharan Africa. The grant will help address the growing need in Sub-Saharan Africa for training in radiology.
News | Radiology Education | July 28, 2020
July 28, 2020 — The Radiological Society of North America (RSNA)