Medical Imaging Market – Global Industry Analysis and Forecast (2022-2029)

Medical Imaging Market is expected to reach US$ 61.30 Bn. at a CAGR of 6.11% during the forecast period 2029.
Medical Imaging Market Overview:
Medical imaging, often known as radiography, is a branch of medicine in which doctors reconstruct images of various body components for diagnostic or therapeutic purposes. Non-invasive medical imaging technologies allow clinicians to diagnose injuries and diseases without becoming obtrusive. Medical imaging is a critical component of modern medicine's better outcomes. The following are examples of medical imaging procedures:

• X-rays
• Magnetic resonance imaging (MRI) is a type of imaging that (MRI)
• Ultrasounds
• Endoscopy
• Tactile perception
• Tomography with a computer (CT scan)

Nuclear medicine functional imaging techniques, such as positron emission tomography (PET) scans, are another valuable medical imaging approach. Scans to determine how well your body is reacting to a treatment for a fracture or disease are another application of medical imaging.

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The report has covered the market trends from 2017 to forecast the market through 2029. 2021 is considered a base year however 2021's numbers are on the real output of the companies in the market. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done good in lockdown also and specific strategic analysis of those companies is done in the report.
Medical Imaging Market Dynamics:
The increased demand for early-stage diagnosis of chronic disease and the aging demographics, which are predicted to boost demand for diagnostic imaging around the world, are two major reasons driving the business. Technological developments, together with government investments and money, are likely to contribute to market expansion, particularly in developing countries like India and China. Allengers, for example, launched India's first locally produced 32 slice CT scanner in January 2021. Canon Medical Systems collaborated in the system's development.

Similarly, the growing demand for advanced imaging modalities by teaching hospitals and universities to provide advanced technical training is projected to have a substantial impact on market growth in the future years. This trend, which was previously restricted to affluent countries, is increasingly spreading to poorer countries as well. For example, the only certified 7T MRI equipment, Siemens Healthineers' MAGNETOM Terra, has only been installed in the United States. Another high-resolution, integrated 7T MRI/PET system was recently built in the Wohl Institute for Translational Medicine at Hadassah-Hebrew University Medical Center in Jerusalem (Israel).

Thailand, India, and South Korea have all lately seen an increase in the number of 3.5T MRI systems installed. Favorable FDI rules increased ease of doing business, and increased knowledge of advanced imaging technologies are all likely to contribute to the overall market's growth. Teleradiology services have made it possible to connect experts from all around the world. This is intended to solve the challenges in these countries caused by a scarcity of experienced radiologists.
Medical Imaging Market Segment Analysis:
The Ultrasound segment is leading the Type segment of the Medical Imaging Market:

In 2021, the ultrasound sector had the greatest market share of 30.0 %, and this is likely to continue throughout the forecast period. The increasing number of ultrasound applications is responsible for the segment's rise. Advanced ultrasonic transducers have recently been developed, opening up new applications for ultrasound devices in biomedical and cardiovascular imaging. Furthermore, a strong focus on the development of portable ultrasound devices is projected to broaden the scope of this modality's applications in both ambulatory and emergency care.

During the projected period, the CT segment is expected to increase at the fastest rate. For COVID-19 patients, CT scanners are one of the most important diagnostic tools. The segment is being driven by increased demand for point-of-care CT devices and the development of a high-precision CT scanner through the integration of artificial intelligence and enhanced visualization systems. Canon's Advanced Intelligent Clear-IQ Engine (AiCE), an AI engine for integration with their Aquilion Precision scanner, obtained FDA approval in October 2019. The technology makes it possible to get precision diagnostics without increasing the dose.

The Hospital segment is dominating the Application segment of the Medical Imaging Market:

In 2021, hospitals had the highest share of 43.1%. The industry is being driven by rising demand for better imaging modalities and the integration of surgical suits with imaging technology. Teaching hospitals in certain wealthy countries have seen a considerable increase in demand for these modalities when compared to general or specialty hospitals. Developing countries in the Asia Pacific region, on the other hand, have seen a sharp increase in the number of new hospitals. The entry of global healthcare service companies is to blame for this. Private players dominate the healthcare sector in these countries.

Ambulatory imaging facilities are predicted to grow at the fastest rate in the next years, according to rising ambulatory imaging trends. One of the primary drivers propelling the market is government initiatives to broaden the reach of advanced care to rural areas. Ambulatory imaging centers are widely used in Southeast Asian countries like Thailand and Malaysia.
Medical Imaging Market Regional Insights:
North America is estimated to dominate the growth of the Medical Imaging Market.
As of 2021, North America dominated the market by 30.5 %. The existence of a large number of industry participants in the region, as well as the high frequency of new product releases, are both factors contributing to regional market growth. Because of factors such as advantageous reimbursement scenarios and strong patient awareness, the region has a high uptake of modern, high-priced medical imaging modalities. Furthermore, in rich countries, service charges are more than 1000 times greater than in underdeveloped countries. This ensures a quicker return on high-priced diagnostic systems and suites.

North America has the largest healthcare spending in terms of GDP, with the United States spending approximately 17.8% of GDP on healthcare in 2015, with that amount predicted to rise to 20.0 percent in the future years. The medical imaging sector in the region is predicted to be driven by the aforementioned causes, as well as the region's aging population, growth in chronic diseases, and growing trend of preventative diagnostic techniques.

Due to the general rising prevalence of chronic diseases and the high demand for improved imaging technologies, the diagnostic imaging market in the Asia Pacific is expected to grow at the highest rate throughout the forecast period. In the Asia Pacific, Japan is the largest market for medical imaging. The presence of industry heavyweights situated in Japan and South Korea is expected to play a significant influence in regional market growth. A growing number of local manufacturing units are expected to produce reasonably priced diagnostic devices, assisting in the region's price-sensitive, underserved market segment.The objective of the report is to present a comprehensive analysis of the Medical Imaging Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Medical Imaging Market dynamics, structure by analyzing the market segments and projecting the Medical Imaging Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Medical Imaging Market make the report investor’s guide.
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Global Medical Imaging Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 38.14 Bn.


Forecast Period 2022 to 2029 CAGR:
6.11%
Market Size in 2029:
US $ 61.30 Bn.


 Segments Covered:
by Type
• X-ray
• Ultrasound
• Computed Tomography
• Magnetic Resonance Imaging
• Nuclear Imaging


by Application
• Cardiology
• Neurology
• Orthopedics
• Gynecology
• Oncology
• Others


by End-user
• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Imaging Centers
• Others



Medical Imaging Market, by Region
• North America
o US
o Canada
o Mexico
• Europe
o U.K
o France
o Germany
o Italy
o Spain
o Sweden
o CIS Countries
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o ASEAN
o Rest of Asia Pacific
• The Middle East and Africa
o South Africa
o GCC Countries
o Egypt
o Nigeria
o Rest of ME&A
• South America
o Brazil
o Argentina
o Rest of South America
Medical Imaging Market Key Player
• GE Healthcare
• Koninklijke Philips N.V.
• Siemens Healthineers
• Canon Medical Systems Corporation
• Bruker
• Mediso Ltd.
• MILabs B.V.
• MR Solutions
• TriFoil Imaging
• PerkinElmer Inc.
• FUJIFILM VisualSonics Inc.
• Cubresa Inc
• Siemens Healthcare
• Philips Healthcare
• Shimadzu Corporation
• Toshiba Medical Systems Corporation
• Hologic
Frequently Asked Questions:
1. Which region has the largest share in Global Food Colours Market?
Ans: North America region held the highest share in 2021.

2. What is the growth rate of Global Food Colours Market?
Ans: The Global Food Colours Market is expected to grow at a CAGR of 6.11% during forecast period 2022-2029.

3. What is scope of the Global Food Colours market report?
Ans: Global Food Colours Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Food Colours market?
Ans: The important key players in the Global Food Colours Market are – , GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corporation, Bruker, Mediso Ltd., MILabs B.V., MR Solutions, TriFoil Imaging, PerkinElmer Inc., FUJIFILM VisualSonics Inc., Cubresa Inc, Siemens Healthcare, Philips Healthcare, Shimadzu Corporation, Toshiba Medical Systems Corporation, and Hologic

5. What is the study period of this market?
Ans: The Global Food Colours Market is studied from 2021 to 2029.