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

Scranton Gillette Communications Names Imaging Technology News Group Publisher and Integrated Media Consultant

Diane Vojcanin (left) was named vice president, group publisher, healthcare group, overseeing Imaging Technology News (ITN) and Diagnostic and Interventional Cardiology (DAIC). Andreja Slapsys (right) was named a healthcare group integrated media consultant.

News | Radiology Business | September 06, 2019
Business-to-business communications leader Scranton Gillette Communications has named Diane Vojcanin as vice president...
Sudhen Desai, M.D.

Sudhen Desai, M.D.

Feature | Pediatric Imaging | September 04, 2019 | By Jeff Zagoudis
Burnout has become a popular buzzword in today’s business world, meant to describe prolonged periods of stress in the
Medical Imaging Rates Continue to Rise Despite Push to Reduce Their Use
News | Radiology Imaging | September 03, 2019
Despite a broad campaign among physician groups to reduce the amount of medical imaging, use rates of various scans...
The Siemens Ysio Max digital radiography system.
Webinar | Digital Radiography (DR) | September 03, 2019
The Webinar "Benefits of Advanced Automation in X-ray" will be presented Wednesday, Sept. 25 at 1 p.m.
A SPECT nuclear scan of the heart to show perfusion defects in the myocardium due to coronary artery blockages or heart attack. The imaging uses the Mo-99 based medical imaging isotope Tc-99m. The U.S. government has created policy to move away from use of highly enriched uranium (HEU) to low-enriched uranium (LEU) for Mo-99 isotope production, but there is one hold out who has not yet converted before a 2020 deadline. Photo courtesy of Philips Healthcare.

A SPECT nuclear scan of the heart to show perfusion defects in the myocardium due to coronary artery blockages or heart attack. The imaging uses the Mo-99 based medical imaging isotope Tc-99m. The U.S. government has created policy to move away from use of highly enriched uranium (HEU) to low-enriched uranium (LEU) for Mo-99 isotope production, but there is one holdout who has not yet converted before a 2020 deadline. Photo courtesy of Philips Healthcare.

Feature | Nuclear Imaging | August 30, 2019 | Dave Fornell, Editor
In a surprising move, the National Institute for Radioelements (IRE) has applied for a new license to export highly e
Beginning with the 2019 meeting, the American Society for Radiation Oncology (ASTRO) will begin transforming its annual meeting in several key ways

Expect changes at ASTRO 2019 and at ASTRO annual meetings to come over the next two years. Photo courtesy of ASTRO

Feature | ASTRO | August 30, 2019 | By Greg Freiherr
Beginning with the...
RSNA Announces New Global Learning Centers Program
News | Radiology Business | August 26, 2019
The Radiological Society of North America (RSNA) is launching a new RSNA Global Learning Centers (GLC) program...
Videos | Computed Tomography (CT) | August 21, 2019
This is a quick walk around of a mobile 32-slice...
The top piece of content in July was a video interview explaining how Princess Margaret Cancer Center is using machine learning to create automated treatment plans. This was a hot topic at the American Association of Physicists in Medicine (AAPM) 2019 meeting in July.

The top piece of content in July was a video interview explaining how Princess Margaret Cancer Center is using machine learning to create automated treatment plans. This was a hot topic at the American Association of Physicists in Medicine (AAPM) 2019 meeting in July. 

Feature | August 05, 2019 | Dave Fornell, Editor
August 5, 2019 — Here is the list of the most popular content on the Imaging Technology New (ITN) magazine website fr
Videos | Radiology Business | August 02, 2019
Association for Medical Imaging Management (AHRA) President ...