Urology imaging systems market to reach US$ 486.4M by 2028

According to the latest research by the FMI, the global urology imaging systems market is expected to account for over US$ 486.4 Mn, in terms of value, by 2028 end. The report on the Urology Imaging Systems market further projects substantial growth potential with CAGR of 3.7% over 2022-2028.

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.

Increasing EU reserve funding encouraging adoption of urology imaging systems
The increase in cases of urological diseases and the simultaneous awareness of critical health issues are expected to increase the demand for urological imaging systems and services worldwide. Access to EU reserves for private countries in the CEE together with administrative projects in Russia will be an attractive source of financing for the purchase of new imaging equipment and will primarily contribute to the advancement of the urological imaging system market in Eastern Europe.

In Russia, the 2020 Health Development Program and the National Health Project are not only focused on driving the progress of the nation and equipping health facilities with expensive advanced urological imaging systems, but also maintaining the middle and lower classes. urological imaging system, which is urgently needed in local health facilities. Compliance with the EU reserve fund has allowed countries such as the Czech Republic, Hungary, Poland, Bulgaria and Romania to access. These requirements are expected to remove barriers to new providers of urological imaging systems.

The growing demand for urology imaging systems is centered 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.

Favorable reimbursement scenario, supported by increasing number of diagnostic establishments driving market growth
In recent years, the number of independent diagnostic and imaging centers in various industrial and growing areas has increased significantly, overcoming a series of pressures on volume and cost recovery to maintain profitability and achieve better margins. According to the report, it is expected to boost the growth of the Urology Imaging Systems market.

Many insurance companies have adopted effective marketing strategies to shift the patient volume to low-cost independent diagnostic centers and reduce the price point associated with urology imaging systems. Independent diagnostic imaging centers offer better service and often of superior quality, generally at the expense of local hospitals and weak operators. The development of low cost portable urology imaging systems is providing leverage to current imagining centers and subsequently driving the growth of 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. Future Market Insights