According to the new market research report “BRIC Diagnostic Imaging Equipment Market by Modality ((X-Ray Imaging (Digital, Analog), MRI (High & Low Field), CT (Conventional, CBCT), Nuclear Imaging (SPECT, Hybrid PET)), End User (Hospitals, Imaging Centers) – Global Forecast to 2024”, published by MarketsandMarkets™, the BRIC Diagnostic Imaging Equipment Market is projected to reach USD 8.3 billion by 2024 from USD 5.3 billion in 2019, at a CAGR of 9.2% from 2019 to 2024.
Rapidly growing geriatric population coupled with the subsequent increase in the prevalence of associated diseases and increasing demand for early disease diagnosis are some of the key factors fueling market growth. Moreover, technological advancements in diagnostic imaging modalities and increasing investments, funds, and grants by public-private organizations are anticipated to further drive the growth of the diagnostic imaging market in BRIC countries.
The MRI systems segment accounted for the largest share of the BRIC Diagnostic Imaging Equipment Market, by modality, in 2018
Based on modality, the BRIC Diagnostic Imaging Equipment Market is broadly segmented into six segments—X-ray imaging systems, CT scanners, ultrasound imaging systems, MRI systems, nuclear imaging systems, and mammography systems. The MRI systems segment held the largest share of the BRIC Diagnostic Imaging Equipment Market in 2018. This large share can be attributed to the growing demand for early and accurate diagnosis, high adoption of MRI systems by hospitals & diagnostic centers, and advances in technology.