BRIC diagnostic imaging markets to reach $7.6B by 2018

Kathy Mahdoubi | | Health Imaging | Molecular Imaging

The diagnostic imaging markets in Brazil, Russia, India and China—known as the BRIC markets, are expected to grow at a compound annual growth rate of 10.5 percent, reaching $7.6 billion within the next four years.

The report focuses on a comprehensive range of diagnostic imaging technology, including X-ray, CT, PET and SPECT, MR and ultrasound systems, and was published in November by MarketsandMarkets.

The strong growth in BRIC nations is thought to be due to the availability of lower-cost imaging options, aging demographics, prevalence of illness such as cardiovascular disease and cancer, and funding from the private sector to bolster infrastructure within BRIC markets. Remaining challenges include concerns about helium shortages, radiation dose and the high overall cost of imaging.

China is expected to carry the lion’s share of the market, largely due to government investment, with approximately 45 percent of the total BRIC market. The nation is expected to grow its diagnostic imaging market at a compound annual growth rate of 12 percent in the next five years, according to the report. Following China, Russia appears to be edging up with the next-largest market share of the group. 

Ultrasound technology appears to be growing at the highest rate, with a compound annual growth rate of 11.4 percent, thought to be due to high rates of liver and breast cancers and new product debuts in these markets. Philips, GE and Siemens remain the leading manufacturers in the BRIC nations.

Kathy Mahdoubi

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