Market Overview:
Market Research Future (MRFR) has launched report on the global medical imaging services market size which is a compilation of all the pertinent trends and patterns that can impact the growth of the market over the forecast period of 2018-2023. MRFR's analysis has concluded that the medical imaging market is poised to capture a CAGR of 6.5% over the forecast period.
A combination of various factors are triggering the growth of the medical imaging market. Burgeoning rise in the prevalence of chronic diseases across the globe has created the relentless need for imaging services. Investments from both the public as well as private sector, growing demand for minimally-invasive techniques, and steep rise in the number of diagnostic imaging centers across the globe are supporting the growth of the market. On the other hand, high costs associated with medical imaging devices and unfavorable healthcare policies might be disruptive to the growth of the market.
Segmentation:
The medical imaging market has been segmented based on product type, application, and end-user.
By product type, the medical imaging market has been segmented into X-Ray imaging systems, magnetic resonance imaging (MRI), Computed Tomography (CT) scanners, ultrasound imaging systems, and nuclear imaging systems. The X-Ray imaging systems segment has been further segmented into digital imaging and analog imaging. The digital imaging sub-segment has been further segmented into direct radiography, and computed radiography.
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The MRI segment has been further segmented into high- and very-high field MRI systems (1.5T to 6T), low-to-mid-field MRI systems (<1.5T), and ultra-high-field MRI systems (7T and above).
The Computed Tomography (CT) scanners segment has been further segmented into high-slice CT scanners, mid-slice CT scanners, and low-slice CT scanners.
The ultrasound imaging systems segment has been further segmented into 2D imaging systems, 3D and 4D imaging systems, and Doppler imaging.
The nuclear imaging systems segment has been further segmented into spect systems and hybrid pet systems. The spect systems sub-segment has been further segmented into hybrid spect systems and Standalone Spect Systems.
By application, the medical imaging market has been segmented into MRI Systems, CT scanners, nuclear imaging systems, X-Ray imaging systems, and ultrasound systems. The MRI systems segment has been further segmented into spine and musculoskeletal MRI, breast MRI, brain and neurological MRI, pelvic and abdominal MRI, cardiac MRI, and vascular MRI. The CT scanners segment has been further segmented into cardiology, neurology, oncology, pelvic and abdominal MRI, and others. The nuclear imaging systems has been further segmented into oncology, cardiology, neurology, and others. The X-ray imaging systems segment has been further segmented into dental, general radiography, mammography, and others. Ultrasound systems segment has been further segmented into obstetrics/gynecology, radiology/general imaging, cardiology, urology, vascular, and others.
By end-user, the medical imaging market has been segmented into hospitals and clinics, diagnostic centers, research and academic institutes, and others.
Regional Analysis:
Region-wise, the medical imaging market has been segmented into the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The Americas has captured the top position in the global medical imaging market. The presence of a robust healthcare infrastructure, technological advancements, and high adoption rate of new technologies are factors supporting the growth of the market. The region is concentrated with leading market players who introduce an array of innovative products in the region and boost the growth of the market.
Europe is the second most significant medical imaging market and is driven by increasing government support in the form of R&D grants.
The APAC market is likely to exhibit remarkable growth in the coming years. The governments in the region are endeavoring towards the modernization of the healthcare, especially the emerging economies, which is favoring the growth of the market.
Escalating healthcare expenditure in the Gulf countries is expected to augment the growth of the MEA medical imaging market.
Competitive Landscape:
Shimadzu Corporation, Fujifilm Holdings Corporation, Hitachi Medical Corporation, Fonar Corporation, Philips Healthcare, Esaote SpA, Carestream Health, Inc., Samsung Medison Co. Ltd, Toshiba Corporation, Narang Medical Limited, GE Healthcare, Siemens Healthcare, and Hologic, Inc. are the eminent players in the medical imaging market.
Industry Updates
- August 2019 - Researchers at Carnegie Mellon University in Pittsburgh, Pennsylvania, have discovered a new imaging technique, which might replace endoscopy. The breakthrough medical imaging technique uses ultrasound to provide in-depth images in a non-invasive way.
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