According to the latest research by the FMI, the global urology imaging systems market is expected to account for over $486.4 million (~€428.3 million), in terms of value, by the end of 2028.
While hospitals will continue to register the highest revenue share in terms of urology imaging systems adoption, the report highlights limited investment opportunities for manufacturers of urology imaging systems, within clinics. The report on the Global Urology Imaging Systems market further projects substantial growth potential with CAGR of 3.8% over 2018-2028.
Increasing EU reserve funding encouraging adoption of urology imaging systems
Increasing occurrences of urological disease and simultaneously increasing awareness about critical health issues is anticipated to grow demand for urology imaging systems and services across globe.
Accessibility of EU reserves for part states in the CEE, paralleled by administrative projects in Russia, will be a crucial source of financing for new imaging equipment purchases and will contribute fundamentally to the advancement of the urology imaging systems market in the Eastern Europe.
In Russia, the 2020 Healthcare Development Program and National Project ‘Health’ centre not just around conveying propelled advances to the nation and furnishing healthcare facilities with costly, top of the line urology imaging systems, yet additionally on obtaining mid-range and low-end urology imaging systems that are very required in local health facilities.
The compliance to the EU reserve funding has given access to countries like the Czech Republic, Hungary, Poland, Bulgaria and Romania. Such compliances are anticipated to eliminate barriers for the new entrant in urology imaging systems market.
Technologically-advanced imaging tools
The growing demand for urology imaging systems is centred at increasing inclination towards technologically-advanced imaging tools used in the diagnosis of prostate cancer and uterine fibroid to reduce the risk of uterine cancer.
Further increasing demand for urology imaging systems for accurate diagnosis and second opinion is anticipated to create demand for ultrasound- as well as fluoroscopy-based urology imaging systems, thereby driving the growth of the urology imaging systems market. However, ultrasound systems are likely to continue representing a larger market value share over fluoroscopic variants, according to FMI’s analysis.
Other players in the global urology imaging systems market
The report tracks strategic developments of some of the prominent players competing in the global urology imaging systems market, including GE Healthcare, Toshiba Medical, Philips Healthcare, Hitachi-Aloka Medical, Siemens Healthineers, Samsung Medison, Mindray, Fujifilm Sonosite, Esaote, and Analogic.
The report also provides key aspects and trends in the Urology Imaging Systems market, including reimbursement scenario, average selling price, and country-wise revenue analysis.