Vantage Market Research
Sep 05, 2022
In terms of revenue, the Global Medical Imaging Market is expected to reach USD 35.8 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.30% from 2022 to 2028.
Medical Imaging market grew exponentially in 2021 and is predicted to continue to do so throughout the forecast period in the purview of the rising prevalence of chronic diseases, the existence of important players in the growth of Medical Imaging outsourcing, and the region's well-established healthcare infrastructure, Additionally, an increase in the number of hospitals, a rise in the demand for early diagnosis, an increase in the prevalence of cancer and cardiac disease, and an increase in the number of senior are the main drivers of regional growth.
Key Highlights from Report:
· The Ultrasound segment is anticipated to drive the growth of the Medical Imaging Market during the forecast period. The increasing number of Ultrasonic applications is responsible for the category growth. New applications for Ultrasound devices in biomedical and cardiovascular imaging have been made possible by recent advancements in sophisticated Ultrasound transducers. Additionally, a strong emphasis on the development of portable Ultrasound devices is anticipated to increase the applicability of this modality in both ambulatory and emergency treatment.
· Hospitals gained market share and dominated the whole market. Some elements promoting the segment's growth include increased demand for high-tech imaging modalities and incorporating surgical suits with imaging equipment. Teaching hospitals in several affluent nations have seen a dramatic demand for various treatment modalities compared to general or specialty Hospitals.
· North America commanded the largest share of the medical/diagnostic imaging market in 2021 and is predicted to continue to do so throughout the forecast period for the Global Medical Imaging Market due to the rising prevalence of chronic diseases, the existence of important players in the growth of Medical Imaging outsourcing, and the region's well-established healthcare infrastructure, Additionally, an increase in the number of hospitals, a rise in the demand for early diagnosis, an increase in the prevalence of cancer and cardiac disease, and an increase in the number of senior are the main drivers of regional growth.
Medical Imaging, referred to as radiography, is the branch of medicine where doctors make different images of bodily components for diagnostic or therapeutic purposes. Non-invasive tests used in Medical Imaging techniques enable clinicians to make non-intrusive diagnoses of illnesses and injuries. Healthcare disciplines frequently employ Medical Imaging tools to diagnose illness problems and support therapy recommendations. Medical Imaging is increasingly in demand as healthcare costs rise in developed and developing nations. Over the projected period, the Medical Imaging industry will be driven by all these drivers taken together. In the upcoming years, the market expansion is anticipated to be fuelled by rising Research and Development (R&D) activities, expanding healthcare infrastructure, and adoption of cutting-edge Medical Imaging modalities.
Most of the market for Medical Imaging software is in North America. These nations are prepared for the technological shift because they have built their health infrastructure. Top industry participants, including Carestream Health Inc., GE Healthcare, and Hologic Inc., are present in the United States, which is why regional growth has been strong. These major competitors in the market make promotional and marketing efforts to raise public knowledge of Medical Imaging, which helps the North American market statistics. Additionally, increasing healthcare.
The Global Medical Imaging Market is Segmented as follows:
- Computed Tomography
- Magnetic Resonance Imaging (MRI)
- Nuclear Imaging
- End Users
- Diagnostic Imaging Centers
- Other End Users
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Medical Imaging Market is:
GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corporation, Mindray Medical International, Esaote, Hologic, Inc., Samsung Medison Co. Ltd., Koning Corporation, Perkin Elmer Inc., FUJIFILM Visual Sonics Inc., Cubresa Inc.
The Global Medical Imaging Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|