Global Medical Imaging Market Insights and Analysis By Product Type (MRI, X-Ray, CT, Ultrasound, Nuclear Imaging), Application (Spine, Musculoskeletal MRI, Breast MRI, Cardiology, Neurology, Oncology, Dental), End-User, Size, Share, Key Players and Future Trends, Forecast To 2023
A new report published by Market Research Future (MRFR) on global Medical Imaging Market size estimated to grow at a CAGR of 6.5% by 2023. Medical Imaging is defined as a technique and process that can create visual representations of the interior of a body that can be used for clinical analysis and medical intervention. Via medical imaging, the visual representation of the function of some organs or tissues (physiology) can also be created.
Global medical imaging market is expected to witness significant growth due to increasing prevalence of cardiac disorders, neurological disorders and rising demand for imaging services globally. Medical imaging market is expected to propel growth based on rising investments from public-private organizations, expanding funds for medical research & development (R&D), increasing role of technology in medical sector, rising prevalence of cancer, introduction of new medical devices as well as gadgets, increasing preference for minimally invasive treatments, and rising number of diagnostic imaging centers. However, high-cost medical imaging devices and backward healthcare systems in some countries can hinder the market growth.
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Medical Imaging Market Segmentation
The global medical imaging market segmentation encompasses application, end-user, and product type. MRFR’s take on the market marks various facets of the market in-depth.
The application-based segmentation of this market covers computed tomography (CT) scanners, Magnetic resonance imaging (MRI) systems, nuclear imaging systems, X-Ray imaging systems, and ultrasound systems. The CT scanners segment has been sub-segmented into cardiology, neurology, oncology, pelvic & abdominal MRI, and others. The MRI systems segment has been sub-segmented into breast MRI, musculoskeletal MRI, brain and neurological MRI, pelvic and abdominal MRI, cardiac MRI, and vascular MRI. The nuclear imaging systems segment has been segmented to cardiology, neurology, oncology, and others. The X-ray imaging systems segment has been sub-segmented into dental, general radiography, mammography, and others. The ultrasound systems segment has been sub-segmented into cardiology, obstetrics/gynecology, radiology/general imaging, urology, vascular, and others.
By considering end-user, the medical imaging market has been segmented into diagnostic centers, hospitals & clinics, research & academic institutes, and others.
By product type, the medical imaging market includes CT scanners, MRI, X-Ray imaging systems, nuclear imaging systems, and ultrasound imaging systems. The CT scanners segment has been sub-segmented into high-slice CT scanners, mid-slice CT scanners, and low-slice CT scanners. The MRI segment has been sub-segmented into low-to-mid-field MRI systems (below 1.5T), high- And very-high field MRI systems (1.5T to 6T), and ultra-high-field MRI systems (7T and above). The X-ray imaging systems segment has been sub-segmented into analog imaging and digital imaging. The digital imaging segment has been further segmented into computed radiography and direct radiography. The nuclear imaging systems sub-segmented hybrid pet systems and spect systems. The spect systems segment has been further segmented into hybrid spect systems and standalone spect systems. The ultrasound imaging systems segment has been sub-segmented as 2D imaging systems, 3D & 4D imaging systems, and doppler imaging.
Medical Imaging Market Regional Insights
A geographical outlining of the global medical imaging market covers the Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA).
The Americas is the biggest regional market as North America alone has the potential of becoming a powerful regional market. Due to the advanced medical facilities being available in the USA and the presence of key market players, North America is a larger regional market segment compared to South America. In North America, the market is strong due to the presence of high geriatric population, existing well-established healthcare system, the high adoption rate of new technologies, and technological advancements.
Europe is the second-largest regional market due to the government support towards R&D expenditure. Some of the key market players are based in Europe too. Due to the reasons the same as in The Americas, Western Europe is a bigger market compared to Eastern Europe. The major market share in this region is held by France, Germany, Italy, Spain, and the UK.
The Asia Pacific region is an important regional market due to the rising prevalence of Cardiovascular Disease (CVD). Governments in the Asian countries are endeavoring towards the modernization of healthcare, favoring the market growth. The important country-specific markets of note in this region are Australia, China, India, Japan, and South Korea.
In the MEA region, the market is lowest due to lack of technical knowledge, low development, and poor medical facilities. However, escalating healthcare expenditure in the Gulf countries may augment the market growth during the forecast period.
Medical Imaging Market Key Players:
Top Leading Companies in the global medical imaging market are Carestream Health (USA), Esaote S.P.A (Italy), Fonar Corporation (USA), Fujifilm Holdings Corporation (Japan), General Electric Company (USA), Hitachi Ltd. (Japan), Hologic Inc. (USA), Koninklijke Philips N.V. (Netherlands), Narang Medical Limited (India), Samsung Medison (South Korea), Shimadzu Corporation (Japan), Siemens AG (Germany), and Toshiba Corporation (Japan).
Table of Content:
- Report Prologue
- Executive Summary
- Market Introduction
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Medical Imaging Market by Technology
- Global Medical Imaging Market by Material
- Global Medical Imaging Market by Application
- Global Medical Imaging Market by End User
- Global Medical Imaging Market by Region
- Competitive Landscape
- Company Profiles
- List of Tables
- List of Figures
Latest Industry News
His Excellency Humaid Al Qutami, Director-General of Dubai Health Authority (DHA) has inaugurated the state-of-the-art artificial intelligence (AI) backed medical imaging systems at Al Zahra Hospital Dubai.
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