The Global Medical Imaging Market is anticipated to touch USD 34,100 million at a 5.4% CAGR between 2019-2025, according to the Market Research Future report’s latest medical or diagnostic imaging statistics. Medical imaging technology, simply put, is a part of biological imaging that uses different technologies, including CT-scan, MRI, x-ray scan, among others for diagnosing diseases and thereby assisting doctors in deciding the course of treatment.
The Global Medical Imaging Market may find showing substantial interest in creating better investment opportunities with public-private organizations. Other influencers like rising number of cancer cases, demand for minimally invasive treatment, etc. can create significant scope for future market growth. But the cost for these machines can be considered a hurdle for medical imaging devices and in many countries, unfavorable healthcare reforms can pull back the market growth.
On the contrary, unfavorable health reforms, the high price of medical imaging devices, and the high cost of setup are factors that may hamper the medical or diagnostic imaging market growth during the forecast period.
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Medical Imaging Market Segmentation
The Market Research Future report offers a complete segmental analysis of the medical imaging market based on end user, modality, application, and product.
By product type, the market for medical imaging comprises magnetic resonance imaging (MRI), X-Ray imaging systems, ultrasound imaging systems, Computed Tomography (CT) scanners, and nuclear imaging systems. The segment for X-Ray imaging systems includes digital imaging and analog imaging. The digital imaging incorporates direct radiography and computed radiography.
The MRI segment covers low-to-mid-field MRI systems (<1.5T), high- and very-high field MRI systems (1.5T to 6T), and ultra-high-field MRI systems (7T and above).
The segment for Computed Tomography (CT) scanners includes mid-slice CT scanners, high-slice CT scanners, and low-slice CT scanners.
The segment concerning ultrasound imaging systems involves 3D & 4D imaging systems, 2D imaging systems, and Doppler imaging.
The segment based on nuclear imaging systems incorporates spect systems and hybrid pet systems. The spect systems segment encompasses hybrid spect systems and Standalone Spect Systems.
By application, the medical imaging market is segmented into spine & musculoskeletal, pelvic & abdominal, neurology, oncology, urology, vascular, cardiology, obstetrics/gynecology (OB/GYN), dental, and general imaging.
By modality, the medical imaging market is segmented into stationary and portable.
By end user, the medical imaging market is segmented into diagnostic imaging centers, hospitals and clinics, and others. Of these, hospitals & clinics will lead the market during the forecast period.
Medical Imaging Market Regional Analysis
By region, the medical imaging market report covers the latest trends and growth opportunities across the Asia Pacific, North America, Europe, and the Middle East & Africa. Of these, the Americas will spearhead the market during the forecast period. Various factors propelling the growth of the medical imaging market in the region include rising geriatric population prone to various chronic diseases, an increasing number of diagnostic centers, technological advancements in the imaging technology, increasing awareness regarding preventive care, and the presence of a well-established healthcare system. The US is the major contributor in this region.
Europe’s growth in the medical imaging market would be substantial with the hike in government grants and better inclusion of various methods in the global market. The regional market would find substantial thrust from the research and development sector.
The APAC market is all geared up to include various companies into the market as it is revamping the entire infrastructure to allow better market permeation in the coming years. The market may find a significant growth in the Gulf Countries as well, which would trigger the MEA medical imaging market.
Medical Imaging Market Key Players
Notable players profiled in the medical imaging market report include Hologic Inc., Fonar Corporation, Samsung Medison, Fujifilm Holdings Corporation, Esaote SpA, Carestream Health, Shimadzu Corporation, Hitachi Ltd, Toshiba Corporation, Siemens Healthcare GmbH, Koninklijke Philips NV, and GE Healthcare.
DiA Imaging Analysis, an AI medical imaging startup, has joined hands with IBM Watson Health to offer its AI-powdered cardiac ultrasound software that is FDA-approved to help clinicians in automatically analyzing cardiac ultrasound images.
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