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. Consequently, the demand for effective and more accurate diagnostic technologies has also gone up. Factors as such have reflected favorably on the Global Market for Medical Imaging. A recent study conducted by Market Research Future (MRFR) claims that over the next four years the market will witness a healthy growth.
The Global Medical Imaging Market is expected to gain prominence over the forecast period (2018–2023). It is estimated that the global medical imaging market is expected to grow at a CAGR ~6.5 % during the forecast period of 2018–2023. Currently, there are multiple medical imaging systems available to show focal and diffuse pathologies in various organs.
The level of awareness about the advantages of early stage diagnosis has increased, which has resulted in a higher number of diagnostic procedures. This is considered as an important growth enabler for the global medical imaging market. In addition, factors such as rising geriatric population and arrival of cost-effective medical imaging systems are also making a positive impact on the market. In all of this, technology is playing an important role, as it is central to the particular healthcare vertical. Hence, market players are consistently making efforts to innovate and development more efficient medical imaging devices.
Latest Industry Trends and News
Leading technology Nvidia has reportedly expressed its intentions of introducing a new AI platform “Clara” in the recently held GPU Technology Conference. The AI will be mainly used for creating virtual medical imaging platform. With this move, the tech firm will set its foot in the healthcare sector.
TriHealth, a healthcare provider based in Cincinnati is reportedly set to invest $10 Mn to integrate a part of IBM Watson Health Enterprise Imaging solution. The move will allow TriHealth to bolster its picture archiving and communication system infrastructure as well as engage AI capabilities for medical imaging.
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
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Global Medical Imaging Market – Segmentation
The Medical Imaging Market has been segmented on the basis of modality which includes ultrasound, computed tomography, x-ray, radiography, MRI, nuclear imaging, tactile imaging, echocardiography, thermography and more. On the basis of end user, market is further segmented into hospital/clinics, diagnostic centers, laboratories, 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 market due to low development, lack of technical knowledge, and poor medical facilities.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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