Medical Imaging Market Size, Growth Analysis and Insights By Product Type (X-Ray, MRI, CT, Ultrasound, Nuclear Imaging), Application (Spine, Musculoskeletal MRI, Breast MRI, Cardiology, Neurology, Oncology, Dental), Region, Key Players and End User, Forecast To 2023
The Global Medical Imaging Market size is expected to represent a CAGR 6.5% during the forecast period (2018 to 2023). Diagnostic imaging market is projected to grow rapidly owing to increasing pathological centers can be termed as a possible growth initiator. The global market for medical imaging may show substantial interest in creating better investment opportunities with public-private organizations. medical imaging market is anticipated to grow swiftly owing to rising number of cancer cases, demand for minimally invasive treatment, etc. can create significant scope for future market growth. But the cost for these machines can be considered a hurdle for medical imaging devices and in many countries, unfavorable healthcare reforms can pull back the market growth.
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Medical Imaging Market Segmentation:
The medical imaging market is segmented into product type, application, and end-user for a holistic study of the market.
By product type, the medical imaging market comprises magnetic resonance imaging (MRI), X-Ray imaging systems, ultrasound imaging systems, Computed Tomography (CT) scanners, and nuclear imaging systems. The segment for X-Ray imaging systems includes digital imaging and analog imaging. The digital imaging incorporates direct radiography and computed radiography.
The MRI segment covers low-to-mid-field MRI systems (<1.5T), high- and very-high field MRI systems (1.5T to 6T), and ultra-high-field MRI systems (7T and above).
The segment for Computed Tomography (CT) scanners includes mid-slice CT scanners, high-slice CT scanners, and low-slice CT scanners.
The segment concerning ultrasound imaging systems involves 3D & 4D imaging systems, 2D imaging systems, and Doppler imaging.
The segment on the basis of nuclear imaging systems incorporates spect systems and hybrid pet systems. The spect systems segment encompasses hybrid spect systems and Standalone Spect Systems.
By application, the medical imaging market includes CT scanners, MRI Systems, X-Ray imaging systems, nuclear imaging systems, and ultrasound systems. The segment for MRI systems incorporates cardiac MRI, breast MRI, spine & musculoskeletal MRI, pelvic & abdominal MRI, brain & neurological MRI, and vascular MRI. The CT scanners segment finds prominence by understanding oncology, pelvic & abdominal MRI, cardiology, neurology, and others. The nuclear imaging systems covers neurology, cardiology, oncology, and others. The segment for general radiography, mammography, X-ray imaging systems dental, and others. The segment for Ultrasound systems girdles around radiology/general imaging, vascular, obstetrics/gynecology, urology, cardiology, and others.
By end user, the medical imaging market has been designed on the basis of diagnostic centers, hospitals & clinics, research & academic institutes, and others.
Medical Imaging Market Regional Analysis:
The Americas is spearheading the global medical imaging market share with significant contributions made by North America. This is probable due to the presence of several market players in the region that has helped in creating a superlative medical infrastructure and eased the process of technological integration. The high adoption rate of these latest technologies can initiate better growth plans for the market.
Europe’s medical imaging market growth would be substantial with the hike in government grants and better inclusion of various methods in the global market. The regional market would find substantial thrust from the research and development sector.
The APAC medical imaging market is all geared up to include various companies into the market as it is revamping the entire infrastructure to allow better market permeation in the coming years. The market may find a significant growth in the Gulf Countries as well, which would trigger the MEA medical imaging market.
Medical Imaging Market Competitive Landscape:
The global medical imaging market is gaining substantial thrust from participating companies who are always innovating and launching various devices to provide better assistance. These companies are known for their extensive strategic planning that can ensure better foothold for themselves and would also assist in an all-encompassing growth for the market. MRFR has recorded some companies for their better profiling and to achieve a better grip over the market. These companies are Fujifilm Holdings Corporation, Shimadzu Corporation, Fonar Corporation, Hitachi Medical Corporation, Esaote SpA, Philips Healthcare, Samsung Medison Co. Ltd, Carestream Health, Inc., Narang Medical Limited, Toshiba Corporation, Siemens Healthcare, GE Healthcare, and Hologic, Inc.
In August 2019, researchers associated with developing the latest medical imaging process came up with a new process in the Carnegie Mellon University in Pittsburgh. The state-of-the-art technology can end the need for endoscopy as it would use ultrasound to deliver images of the area needed in a non-invasive way.
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