Medical Imaging has become the core of modern medical diagnostics. The advanced imaging technologies that are available today have certainly improved the efficiency of diagnostic systems to a significant level. In recent years, the number of people undergoing diagnostic procedures has increased substantially with the rise in prevalence of acute and chronic diseases.
Introduction of improved reimbursement policies and increase healthcare spending in some of the factors having an influence on the global medical imaging market. In addition, growing number of public-private healthcare entities, increased incidence of cancer, development of novel minimally invasive treatment, and mushrooming of diagnostic imaging centers are other factors supporting the market growth.
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Increasing prevalence of various chronic diseases, cardiac diseases, and neurological diseases have resulted in increased demand for medical imaging services. Healthcare as a sector is growing exponentially across the world, with increasing investments being made in state-of-the-art systems. Emerging economies are expected to make huge development in catching up to developed economies with regards to providing patients with advanced systems which are widely available. Several market leaders are involved in comprehensive research and development activities to offer further advancements in the highly competitive market. Additionally, there is a high preference and demand for minimally invasive treatments and diagnostic procedures. This combined with rising numbers of diagnostic imaging centers are likely to lead to surging growth for the global medical imagining market.
Global Medical Imaging Market –Key Players
Major participants of this market are
- Carestream Health, Inc.
- Esaote SpA
- Fonar Corporation
- Fujifilm Holdings Corporation
- GE Healthcare
- Hitachi Medical Corporation
- Hologic, Inc.
- Narang Medical Limited
- Philips Healthcare
- Samsung Medison Co. Ltd
- Shimadzu Corporation
- Siemens Healthcare
- Toshiba Corporation
Global Medical Imaging Market –Segmentation
The Global Medical Imaging Market is segmented based on product type, application, end-user, and region. By product type, the market is segmented into magnetic resonance imaging (MRI), X-Ray imaging systems, ultrasound imaging systems, nuclear imaging systems, and computed tomography (CT) scanners. The MRI segment is sub-segmented into low to mid-field MRI systems, high and very high field MRI systems, and ultra-high field MRI systems. Other sub-segmentations of key segments are provided in the report.
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By application, the market is segmented into product type, and then further segmented by applications for each product type. Key segments include MRI systems, CT scanners, nuclear imaging systems, X-ray imaging systems, and ultrasound imaging systems. ultrasound systems are further segmented into obstetrics, general imaging, cardiology, urology, vascular, and others. Further sub-segmentation can be found in the report.
By end-user, the market is segmented into hospitals & clinics, research & academic institutes, diagnostic imaging centers, and others.
Global Medical Imaging Market –Regional Analysis
The American region holds the major share of the global medical imaging market, owing to the existing well-established healthcare system, technological advancements, and the geriatric population. Due to the increasing acceptance of advanced imaging equipment multitude of products have been introduced by leading players. For instance, Vantage Galan 3.0T XGO Edition MRI by Canon Medical Systems USA, Inc. received approval from Food and Drug Administration (FDA). The Galan 3T XGO Edition offers the ability to conduct high-quality neuroimaging exams, and higher-resolution images.
Europe holds the second position in the global medical imaging market. It is expected that the government support towards research & development expenditure.
The Asia-Pacific medical imaging market consists of countries namely China, Japan, Republic of Korea, India, Australia and the Rest of Asia-Pacific. The rising prevalence of Cardiovascular Disease (CVD) is propelling the growth of the market. According to a study published in the Circulation Journal in 2017, 80% of CVD deaths take place in low- and middle-income countries.
The Middle East and Africa holds the lowest share of the Global Medical Imaging Market due to low development, lack of technical knowledge, and poor medical facilities.
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