Global Perfusion Radiology Market: Information by Application (Cardiovascular Imaging, Ventilation Imaging, Brain Imaging, and others), End-User (Hospitals, Diagnostic Centers and others) and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Forecast till 2025
The Global Perfusion Radiology Instrument Market is expected to register a CAGR of 7.48% during the forecast period, with a market value of USD 9,858 Million till 2025. Perfusion is the passage of fluid through the lymphatic system to organs or tissues. Perfusion radiology is the process by which passage of perfusion can be observed, recorded, and quantified. This is widely used for the diagnosis of chronic disorders such as cancer, brain tumor, and lung-related disorders.
The growing prevalence of cardiovascular and neurological diseases, increasing geriatric population, and advancements in technology are expected to enhance market growth. However, the stringent regulatory policies and lack of awareness for the use of advanced technologies are projected to curb the growth of the market.
The market is expected to witness a profitable growth owing to the growing prevalence of cardiovascular and neurological diseases. According to the American Heart Association Statistics Committee and Stroke Statistics Subcommittee, in 2017, every year about 795,000 people in the US have a stroke, of which about 610,000 are new strokes, and 185,000 are recurrent strokes. Also, as per the European Cardiovascular Disease Statistics 2017, there are over 6 million new cases of CVD in Europe and more than 11 million cases in Europe as a whole, that are reported per year. The growing prevalence of cardiovascular and neurological diseases is driving the global perfusion radiology market, as it is a tool used for the diagnosis of these diseases.
Perfusion Radiology Market Key Players
MRFR recognizes the following companies as the Key Players in the Global Perfusion Radiology Market— GE Healthcare (US), Siemens Healthineers AG (Germany), Canon Medical Systems Corporation (Japan), Bracco Diagnostic, Inc. (Italy), Koninklijke Philips N.V. (Netherlands), Shimadzu Corporation (Japan), Lantheus Medical Imaging, Inc (US), Perimed (US), Neusoft Corporation (China), and Advantis Medical Imaging (Netherlands)
- Medical device manufacturers
- Research & development organizations
- Academic institutes
Perfusion Radiology Market Segment Analysis
The Global Perfusion Radiology Market, by application, has been segmented into cardiovascular imaging, ventilation imaging, brain imaging, and others. By end-user, the global perfusion radiology market has been classified as hospitals, diagnostic centers, and others.
Perfusion Radiology Market Regional Analysis
The Global Perfusion Radiology Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
North America accounted for the largest market share of in 2018, owing to the incidence of cardiovascular diseases, brain tumors, and tumor-related angiogenesis
Europe is anticipated to account for the second-largest market share during the forecast period. The market growth in Europe can be attributed to the considerable rise in neurological disorders. For instance, according to the European Brain Council, 2017 data, a total of 220.7 million people in Europe were suffering from at least one neurological disease, which promoted the use of perfusion radiology for the diagnosis of such diseases.
Asia-Pacific is likely to be the fastest-growing region in the global perfusion radiology market. The high growth rate is due to owing to the presence of rapidly developing economies of China, India, and South Korea. India held a share of 18.8% in the Asia-Pacific perfusion radiology market in 2018.
The Middle East & Africa market is projected to show gradual growth during the forecast period. In this region, the Middle East is anticipated to dominate owing to the presence of developed countries such as Egypt, Saudi Arabia, and others.
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Key Findings of the Study
The Global Perfusion Radiology Market was valued at USD 6,009.3 million in 2018 and is estimated to grow to USD 9,858 Million by 2025 at a CAGR of 7.48% during the assessment period
The Americas accounted for the largest share of the global market due to the increase in the incidence of cardiovascular diseases, brain tumors, and tumor-related angiogenesis.
Based on application, the cardiovascular imaging segment accounted for a market share of 12% in 2018
On the basis of the end-user, the hospital's segment dominated the market and accounted for a share of 65% in 2018