Medical Imaging Market Opportunities, Challenges and Growth to Ascend at 6.5% CAGR Between 2019-2023

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Medical Imaging aids in the revelation of internal structures hidden by the skin and bones to diagnose and treat diseases. The Medical Imaging Market, as studied by Market Research Future (MRFR), is expected to expand at 6.5% CAGR during the forecast period of 2018-2023.

Medical Imaging is referred to as the process of generating visual representations of a body’s interior for clinical analysis and medical intervention.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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Rising prevalence of cancer, a burgeoning demand for minimally invasive treatments, and a rising number of diagnostic imaging centers are also anticipated to boost the upscaling of the global medical imaging market over the forecast period. However, 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.

Medical Imaging Market - Key Players

Some of the distinguished players in the Global Medical Imaging Market, as profiled in the MRFR report include

Carestream Health, Inc.
Fonar Corporation
Esaote SpA
Fujifilm Holdings Corporation
Hitachi Medical Corporation
GE Healthcare
Hologic, Inc.
Philips Healthcare
Narang Medical Limited
Samsung Medison Co. Ltd
Siemens Healthcare
Shimadzu Corporation
Toshiba Corporation

Industry Update

July 2019

Researchers at Microsoft have developed an algorithm that works on a quantum computer (still in development) to enhance the speed and quality of medical imaging. This is likely to augment the treatment of breast cancer and other diseases.

Medical Imaging Market - Segmentation

The Global Medical Imaging Market report by MRFR has been studied for different types of medical imaging products, various applications of medical imaging, end-users of medical imaging, and specific regions. Different product types analyzed in the report include magnetic resonance imaging (MRI), computed tomography (CT) scanners, X-Ray imaging systems, ultrasound imaging systems, and nuclear imaging systems. The report further mentions different types of X-ray imaging systems, including analog imaging and digital imaging. Digital imaging products include computed radiography and direct radiography. Different MRI systems studied in the report include high field MRI systems (1.5T to 6T), ultra-high-field MRI systems (7T and above), and low-mid field MRI systems (less than 1.5T). Different CT scanners include high-slice CT scanners, mid-slice CT scanners, and low-slice CT scanners. Various ultrasound imaging systems types include doppler imaging systems, 2D imaging systems, 3D imaging systems, and 4D imaging systems. Nuclear imaging systems have been studied for spect systems, and hybrid pet systems. Different types of spect systems include standalone spect systems and hybrid spect systems.

Different types of Medical Imaging Device applications include CT scanners, MRI systems, X-ray imaging systems, nuclear imaging systems, and ultrasound systems. Different MRI applications include breast MRI, spine and musculoskeletal MRI, brain & neurological MRI, cardiac MRI, and pelvic and abdominal MRI. The CT scanners are used in cardiology, oncology, and neurology. X-ray imaging systems are used in dental, mammography, and radiography. Ultrasound systems have major applications in gynecology/obstetrics, cardiology, urology, vascular, and radiology/general imaging.

Different end-users of Medical Imaging Devices include diagnostic centers, hospitals & clinics, and research & academic institutes.

Medical Imaging Market - Detailed Regional Analysis

The Global Medical Imaging Market is studied for the regions of the Americas, Europe, Asia Pacific, and the 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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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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