BRIC Diagnostic Imaging Equipment Market Size Report, Industry Share, Analysis, Growth, 2030

BRIC Diagnostic Imaging Equipment Industry Prospective:

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.

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BRIC Diagnostic Imaging Equipment Market: Overview

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.

Key Insights

• As per the analysis shared by our research analyst, the global BRIC diagnostic imaging equipment market is projected to expand annually at the annual growth rate of around 4.95% over the forecast timespan (2023-2030)
• In terms of revenue, the global BRIC diagnostic imaging equipment market size was evaluated at nearly $5.77 billion in 2022 and is expected to reach $9.86 billion by 2030.
• The global BRIC diagnostic imaging equipment market is anticipated to grow rapidly over the forecast timeline owing to a rise in the target disease burden along with a surge in the allocation of funds for diagnosing BRIC disorders.
• In terms of modality, the MRI systems segment is slated to register the highest CAGR over the analysis period.
• Based on end-user, the hospitals segment is expected to dominate the segmental growth over the assessment timeline.
• Region-wise, the Asia-Pacific BRIC diagnostic imaging equipment industry is projected to register the fastest CAGR during the assessment timeline.

BRIC Diagnostic Imaging Equipment Market: Growth Factors

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.

BRIC Diagnostic Imaging Equipment Market: Restraints

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.

BRIC Diagnostic Imaging Equipment Market: Opportunities

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.

BRIC Diagnostic Imaging Equipment Market: Challenges

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.

BRIC Diagnostic Imaging Equipment Market: Segmentation

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.

BRIC Diagnostic Imaging Equipment Market: Report Scope

BRIC Diagnostic Imaging Equipment Market: Regional Insights

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.

BRIC Diagnostic Imaging Equipment Market: Competitive Space

The global BRIC diagnostic imaging equipment market profiles key 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
• iCAD Inc.

The global BRIC diagnostic imaging equipment market is segmented as follows:

By Modality

• X-Ray Systems
• Nuclear Imaging Systems
• MRI Systems
• Mammography Systems
• Ultrasound Imaging Systems
•  CT Scanners

By End-User

• Hospitals
• Diagnostic Imaging Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa