Industry Trends and Insights
The Medical Imaging Market size to Exhibit a CAGR of 6.5% during the forecast period of 2018-2023. Medical Imaging is nothing but the body’s interior visual representations for clinical analysis and medical intervention. Medical imaging market is expected to witness significant growth owing to rising number of diagnostic imaging centers, increasing occurrence of cancer and burgeoning demand for minimally invasive over the forecast period. Furthermore, unfavorable healthcare reforms governing the healthcare sector in some countries and a high cost of medical imaging are projected to pose as hindrances in the growth of the global medical imaging market.
Different factors attributing to the ascension of the global medical imaging market include the increasing prevalence of cardiac and neurological diseases and rising investments in the field from private as well as public organizations. The Health Policy Commission released a cost trends report in 2015, which suggested that there were around 71.8% MRI services performed in 2012, which exceeded 75% in 2015. It was also noted that imaging services held around 16% share of payment for services, as reported by Healthcare Spending and Medicare program in 2016.
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Medical Imaging Market Key Players
Some of the leading companies in the Global Medical Imaging Market are
- Carestream Health, Inc.
- Fonar Corporation
- Narang Medical Limited
- Samsung Medison Co. Ltd
- Siemens Healthcare
- Shimadzu Corporation
- Toshiba Corporation
- Esaote SpA
- Fujifilm Holdings Corporation
- Hitachi Medical Corporation
- GE Healthcare
- Hologic, Inc.
- Philips Healthcare
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
- Computed tomography (CT) scanners
The MRI segment is sub-segmented into
- low to mid-field MRI systems
- high and very high field MRI systems
- ultra-high field MRI systems
By application, the market is segmented into
- MRI systems
- CT scanners
- nuclear imaging systems
- X-ray imaging systems
- Ultrasound imaging systems
Ultrasound systems are further segmented into
- General imaging
By end-user, the market is segmented into hospitals & clinics, research & academic institutes, diagnostic imaging centers, and others.
Medical Imaging Market Regional Analysis
The Global Medical Imaging Market is studied for the regions of the
- Asia Pacific
- Middle East & Africa
Among these, the Americas are anticipated to spearhead the global medical imaging market credible to the presence of well-engrained healthcare infrastructure in the Americas. Europe is estimated to trail behind the Americas and hold the second-largest share of the global medical imaging market over the forecast period owing to the government support towards the research and development in the field.
Asia Pacific is expected to witness momentous growth owing to the rising prevalence of cardiovascular diseases in the region. The Middle East & Africa is estimated to showcase the lowest CAGR owing to the lack of development and technical knowledge in the region.
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