The medical imaging market share was valued USD 39.19 in 2021 and is expected to reach USD 64.99 billion by 2030 at 7.10% CAGR during the forecast period 2022-2030; this and other vital market figures have been revealed in Market Research Future's detailed report on the subject. Advancements in technology have introduced medical imaging systems that can show diffuse and focal pathologies in a variety of organs.
Increasing prevalence of various chronic diseases, cardiac diseases, and neurological diseases have resulted in increased demand for medical imaging services. Healthcare as a sector is growing exponentially across the world, with increasing investments being made in state of the art systems. Emerging economies are expected to make huge development in catching up to developed economies with regards to providing patients with advanced systems which are widely available. Several market leaders are involved in comprehensive research and development activities to offer further advancements in the highly competitive market. Additionally, there is a high preference and demand for minimally invasive treatments and diagnostic procedures. This combined with rising numbers of diagnostic imaging centers are likely to lead to surging growth for the global medical imagining market.
Presently, health care reforms have not caught up to healthcare trends, particularly in emerging and underdeveloped economies which will pose a challenge to the growth of the market. Moreover, medical imaging devices are expensive. However, emerging economies represent high promise and opportunities for growth in the coming years, and RD activities will likely expand market value.
Regional Analysis
The Americas, with their inclusion of North America, account for the most significant share of the global medical imaging market. The presence of a developed healthcare sector, swift adoption of technological advancements and the regions role in advancing the market are significant factors responsible for it's leading market position. Europe is the second most significant region due to high government support for advanced healthcare being made available to the regions patient population.
Meanwhile, the APAC market has a rapidly developing healthcare sector with the government's full support. The region is advancing rapidly in its adoption and demand for advanced healthcare and is expected to be a significant market in the future.
Market Segmentation
The Global Medical Imaging Market outlook is segmented based on product type, application, end-user, and region. By product type, the market is segmented into magnetic resonance imaging (MRI), X-Ray imaging systems, ultrasound imaging systems, nuclear imaging systems, and computed tomography (CT) scanners. The MRI segment is sub-segmented into low to mid-field MRI systems, high and very high field MRI systems, and ultra-high field MRI systems. Other sub-segmentations of key segments are provided in the report.
By application, the market is segmented into product type, and then further segmented by applications for each product type. Key segments include MRI systems, CT scanners, nuclear imaging systems, X-ray imaging systems, and ultrasound imaging systems. ultrasound systems are further segmented into obstetrics, general imaging, cardiology, urology, vascular, and others. Further sub-segmentation can be found in the report.
By end-user, the market is segmented into hospitals clinics, research academic institutes, diagnostic imaging centers, and others.
Key Players
Profiled market players include Samsung Medison, Toshiba Corporation, Narang Medical Limited, Fonar Corporation, Hologic Inc., Shimadzu Corporation, Fujifilm Holdings Corporation, Siemens AG, General Electric Company, Hitachi Ltd., Carestream Health, Esaote S.P.A, and Koninklijke Philips N.V.
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