The North American diagnostic imaging equipment market is projected to grow at a significant CAGR during the forecast period (2020-2026). One of the major factors that propel market growth includes rising chronic diseases such as cancer, CVD, and others in the region. As per the Institute for Health Metrics and Evaluation, around 600,000 new cases of strokes were registered in the US in 2017.
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As per the American Heart Association, Strokes were the second largest cause of mortality due to any cardiovascular disease in the US in 2017 after Coronary Heart Disease. CVD and strokes accounted for 14% of the total healthcare expenditure. Around 1 in 19 mortalities in the US were due to stroke in the country in 2017 causing more than 146,000 mortalities.
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Moreover, the growing number of cancer prevalence in the region further encourages the demand for diagnostic imaging equipment in the region. As per the World Health Organization (WHO), in 2018, the number of new cancer incidences in the region reported was nearly 2.4 million, which accounted for 13.2% of the global cancer incidences.
North American population has significant awareness regarding cancer and favorable reimbursement and insurance policies are supporting to drive the demand for early diagnosis and treatment in the region. For instance, Medicare Part B covers several medically important cancer-associated services and treatments offered on an outpatient basis. Part B also covers certain preventive services for individuals who are at risk for cancer. This favorable healthcare coverage resulting in the demand for diagnostic tests in the region.
North American diagnostic imaging equipment Market – Segmentation
By Modality
- X-Ray
- Ultrasound
- Computed Tomography
- Magnetic Resonance Imaging (MRI)
- Mammography
- Others (Nuclear Imaging)
By Application
- Oncology
- Orthopedics
- Cardiovascular
- Neurology
- Urology
- Others
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