Market value growth of diagnostic imaging devices expected during Covid-19 outbreak

26 March 2020 (Last Updated March 26th, 2020 10:26)

Market value growth of diagnostic imaging devices expected during Covid-19 outbreak

CT systems remain the gold standard for diagnosing and monitoring respiratory diseases. With the increasing prevalence of Covid-19, the global market value of diagnostic imaging devices will grow as physicians continue to rely on standard diagnostic techniques and researchers discover new diagnostic capabilities within the market.

Hospitals are stretched thin to meet the demands of the global Covid-19 pandemic. Hospitals need to invest in their radiology suites to effectively diagnose and treat patients. While CT systems are in high demand due to their capability for clear imaging of the lungs, they also come with high price tags and maintenance fees.

Hard-pressed doctors in Italy have been making use of point-of-care (POC) ultrasound devices to monitor the progress of ill patients, even going so far as to call these devices ‘the new stethoscope’.

The dire situation in Italy has already been a warning to countries around the world and their medical ingenuity is likely to act as a guide for hospitals in countries like the US, which are looking to effectively prepare for their own wave of Covid-19 patients.

Researchers have been focusing on fast-acting technology. One such group is developing algorithms that would allow basic X-ray scans to identify Covid-19 symptoms.

GlobalData believes that diagnostic imaging will experience strong growth throughout the CT system, X-ray system and ultrasound system sectors. However, low cost and mobile technology will be in especially high demand as doctors rush to meet the needs of high volumes of patients. Hand-held ultrasound systems will become ubiquitous throughout North American hospitals and the market will see a huge boost in POC radiology.