NDT Equipment Market Share, Growth, Opportunity | By Kenneth Research

(MENAFN- America News Hour) The NDT EQUIPMENT market is thriving on account of the rising awareness amongst individuals for the benefits of maintaining a good health and the increasing need for high quality healthcare services amongst individuals. With the increasing prevalence of diseases worldwide, people are opting for products that help them to stay fit and are also investing more on healthcare services. Alternatively, pharmaceutical manufacturers, along with other healthcare companies that manufactures devices and equipment, are increasingly focusing on the research and development of advanced treatment, drugs and equipment for the diagnosis and treatment of the diseases and for developing healthcare products. Organizations are raising their R & D expenses year-on-year so as to deliver quality healthcare products in the years to come. The advancements in the healthcare sector are also supported by the governments of nations worldwide with numerous financial aids. According to a statistical report titled ' Global Spending on Health: A World in Transition ', released in theyear 2019 by the World Health Organization (WHO), the global spending on healthcare recorded USD 7.8 trillion in 2017, which was an increase by USD 0.2 trillion from the recorded value of USD 7.6 trillion in 2016.
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Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the NDT EQUIPMENT MARKET during the forecast period.
NDT equipment can be considered as the equipment which is used in the non destructive way of testing of the properties of an object, material or a system without damaging it. The rationale behind using the Non destructive method of testing is to check for discontinuities or differences in the characteristics of a material in accordance with some pre specified norms.

Market Dynamics:
This growth can be attributed to the increasing demand for identifying oil and gas reserves. Also the perception of assured return on investment in this sector is also expected to increase the demand for NDT equipment.

Market Segmentation:
The market for NDT equipment can be segmented based on the technology used, application and end-user. On the basis of technology, the NDT equipment market can be segmented into Phased array ultrasonic, X-ray computed tomography, computed radiography technology, Electromagnetic technology, Visual testing technology and others. On the basis of Applications, the power generation, petrochemical, oil & gas, aerospace and automotive and others. On the basis of end-user, the NDT equipment market can be segmented into aerospace, power generation and oil & gas.

Geography:
The market for NDT equipment based on geographies can be categorized into North America, Europe, Asia-Pacific, Middle East and Africa. The highest market for NDT equipment is considered to be the North America region. This can be attributed to the high amount of investments made in the oil and gas industry in the region and also the demand from the automotive industry in the united states is also expected to contribute to the increase in the NDT equipment market.

Key Players:
The Key players in the Printing Ink industry are GE Inspection technologies, Olympus Corporation, YXLON international, Mistras, Zetec, Dr. Foerster and Nikon metrology.

Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R & D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

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This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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