Medical Imaging: The Growth of An Industry

Medical imaging equipment, such as CTs, MRIs, PET scans, and ultrasounds, are key tools in helping medical professionals observe the inner workings of the human body, without actually going inside. While some use magnetic resonance, others use x-ray technology — and all are essential to diagnostics and therapeutics.

As the medical industry changes and develops, aided by new technology and advanced medical techniques, another industry that is experiencing growth is medical imaging. Whether a patient enters the hospital for trauma care, or is simply checking on an ailment, the diagnostic use of medical imaging significantly decreases the need for exploratory surgery. It also helps with shorter wait times and fewer hospital admissions. As a result, the medical imaging industry is seeing steady growth.

A report by the Transparency Market Research (TMR) recently announced a study based on the global medical imaging equipment market, where it is anticipated to develop at a CAGR of 5.4% between 2013-2019, and will reach over $35 billion by the end of 2019. Furthermore, the study attributed this growth to the global geriatric population increase, which is associated with far more cases of cardiovascular disease, as well as disorders associated with brain, lungs, and the buccal area.

Although a large portion of the global market revenue for the medical imaging market is currently in North America, China, and the Middle East, it is expected that developing economies will play a large role in the growth of the industry.

Some of the factors encouraging the growth of this industry include the increased pressure to reduce healthcare costs, causing the healthcare sector to change its strategy and priorities. According to Frost & Sullivan, more focus is being placed on developing IT solutions in order to optimize processes:

“They expect that in the future manufacturers of medical technology and imaging systems will primarily develop and produce inexpensive, energy-saving, and ergonomic medical equipment that requires little maintenance and involves less potential risk.”

– Frost & Sullivan (Siemens.com)

Legacy Chiller Systems has heard the needs of the market, and is responding to them. Our new line of high-efficiency process chillers will address these specific areas for growth, with energy savings of up to 60%. Self-diagnostics mean that hospitals will save on repairs, and labor for technicians. We are joining the team, and want to be part of the growth of this industry as it evolves and changes for the better.

For more information, to get a quote, or receive a copy of the Process Chiller Buyer’s Guide, visit LegacyChillers.com

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