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Advancement in technology in medical imaging such as mobile imaging devices and 3-D ultrasonic holography, which does not use harmful radiation has led to improvement in the diagnosis and treatment methods in patients. Pediatric patients are comparatively more radiosensitive than adults. Therefore, manufacturers are focusing on designing safer and effective X-ray imagining devices that have relatively low levels of harmful radiations, built specially for pediatric patients as encouraged by the U.S. FDA. Moreover, companies are developing software in order to improve diagnosis and treatment methods and for this they are collaborating with IT companies, which are expected to provide quantitative analysis tools and advanced visualization. The apps linked with medical imaging devices are some of these technologies, which are expected to provide manufacturers a competitive edge in the medical imaging devices market. For instance, the University of Pittsburgh Medical Center (UPMC) is the development partner for GE Health Cloud. The new cloud system enables in managing files produced by magnetic resonance imaging (MRIs), computed tomography (CT) scanners, ultrasound machines, and other imaging devices.
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The competitive analysis for companies operating in the medical imaging devices market includes top 10 players based on their 2016 revenue - Siemens AG, GE Healthcare, Philips Healthcare, Fujifilm Holdings Corporation, Hitachi Ltd, Shimadzu Corporation, Toshiba Medical Systems Corporation, Hologic, Inc., Samsung Medison, and Carestream Health.
Philips Healthcare
Company Description - Philips Healthcare is engaged in manufacturing and selling a wide range of products, which includes healthcare IT solutions, diagnostic imaging systems, patient monitoring, and cardiac devices. Philips Healthcare operates as a subsidiary of Koninklijke Philips.
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Key highlights - Company is focusing on increasing its share and profitability in the global medical imaging devices market. For this, it is offering products in oncology and radiology segments, which comprises smart devices, software, and services. Company is also focused on developing ultrasound products in general imaging and gynecology/obstetrics. In 2014, the company received U.S. FDA approval for spectral imaging system (IQon Spectral CT). The IQon Spectral CT is a leading, new, high standard for medical imaging. According to the Radiological Society of North America study in 2013, conducted on the Philips IQon Spectral CT and traditional imaging methods, the Philips IQon Spectral CT system exhibited enhanced diagnosis in up to 70% cases compared to traditional imaging methods. In August 2019, Koninklijke Philips N.V., acquired of Healthcare Information Systems (HCIS) business of Carestream Health Inc., and integrated it into Philips’ Enterprise Diagnostic Informatics business
Table of Contents
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Top players in the market
The healthcare systems, which includes diagnostic imaging and clinical systems accounted for 70% of the GE Healthcare revenue in 2016. The U.S. and Europe accounted for 66% of the healthcare revenue. Company is focusing on building mobile- and cloud- based apps as a part of its product expansion strategy. For instance, in 2015, the GE Health Cloud and apps was launched in the U.S. The new cloud system is expected to aid in connecting over 500,000 GE imaging machines, which is expected to help clinicians to deliver better outcomes. In September 2015, GE Healthcare Canada and the Biomedical Translational Imaging Centre (BIOTIC) collaborated for development of Halifax-based technology commercialization program in order to advance software technology in medical imaging.
Research methodology adopted by Coherent Market Insights
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• Desk Research
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