Pune, Aug. 28, 2024 (GLOBE NEWSWIRE) -- “According to SNS Insider, The Medical Imaging Devices Market is projected to grow from USD 39.7 billion in 2023 to USD 61.58 billion by 2032, at a CAGR of 5% over the forecast period 2024-2032.”
The medical imaging devices industry is growing due to a prevailing demand for the enhancement and innovation of imaging systems. With the healthcare systems globally shifting towards early diagnosis and precision medicine the demand for innovative imaging solutions has also been growing. There is especially high demand for diagnostic imaging for the management of chronic diseases such as cancer, cardiovascular diseases, and neurological disorders because accurate imaging is vital in decision-making regarding the course of treatment to be taken.
On the supply side technological innovation has provided better and more efficient high-resolution imaging systems that will benefit patients. Advanced technologies, which include AI-enhanced imaging, portable systems, and hybrid systems are providing better and easier means of reaching out to more and even the outskirts of societies in terms of offering medical imaging Devices. For example, the development of deep learning algorithms has enabled more accurate and efficient image analysis.
Furthermore, the increased convergence of medical imaging solutions, digital health solutions, and EHR systems have become the global norms of digital health practice and they also help to make workflow more efficient, diagnosis much more precise, and able to provide better care to the patients.
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Major Players Analysis Listed in this Report are:
- Samsung Medison Co. Ltd.
- Siemens Healthineers
- GE Healthcare
- Canon Medical Systems Corporation
- Koninklijke Philips N.V.
- FUJIFILM VisualSonics Inc.
- Mindray Medical International
- Konica Minolta
- Carestream Health
- Hitachi
- Koning Corporation
- Varex Imaging
- Hologic Inc.
- Esaote
- PerkinElmer Inc
Medical Imaging Devices Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 39.7 Billion |
| Market Size by 2032 | US$ 61.58 Billion |
| CAGR | CAGR of 5% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Medical Imaging Devices Market Key Segmentation:
By Type
- Magnetic Resonance Imaging
- Computed Tomography
- X-ray
- Ultrasound
- Nuclear Imaging
By Application
- Cardiology
- Neurology
- Orthopedics
- Gynecology
- Oncology
- Others
By End User
- Hospitals
- Specialty Clinics
- Diagnostic Imaging Centers
- Others
Computed Tomography Remains Dominant, While MRI Emerges as The Fastest-Growing Segment In Medical Imaging
Computed tomography (CT) held the leading medical imaging device, accounting for 29.04% of the market in 2023. CT's ability to provide detailed images of various body parts has made it an invaluable tool for diagnosing a wide range of diseases.
However, magnetic resonance imaging (MRI) is experiencing rapid growth, driven by its non-invasive nature and exceptional soft-tissue visualization capabilities. This trend indicates a shift towards more advanced imaging techniques that offer greater diagnostic accuracy and improved patient comfort. As healthcare providers seek to enhance patient care and outcomes, MRI is poised to play an increasingly important role in the medical imaging landscape.
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North America: Dominating Region with Advanced Healthcare Infrastructure
In 2023, North America held the largest share of the Medical Imaging Devices market. The region's dominance is attributed to its advanced healthcare infrastructure, high adoption of cutting-edge imaging technologies, and significant investments in healthcare R&D. The presence of major Medical Imaging Devices companies and a strong focus on early diagnosis and preventive healthcare further bolster the market in this region. Companies like General Electric Healthcare and Siemens Healthineers have been at the forefront, launching innovative imaging solutions tailored to the needs of the North American market.
Asia-Pacific: Fastest-Growing Region with Rising Healthcare Investments
The Asia-Pacific region is projected to be the fastest-growing market for Medical Imaging Devices during the forecast period. This growth is driven by increasing healthcare expenditure, rising awareness of early disease detection, and improving healthcare infrastructure in emerging economies like China and India.
Recent Developments in Medical Imaging Devices
- March 2024: GE Healthcare introduced the Revolution Apex CT scanner, featuring AI-powered image reconstruction technology, which enhances image clarity and reduces radiation dose.
- December 2023: Hologic Inc. introduced the 3Dimensions Mammography System, featuring AI-powered image analytics for faster and more accurate breast cancer detection.
- November 2023: Samsung Medison released the Accuvix A30 ultrasound system with innovative Crystal-Clear Cycle technology, offering enhanced image resolution for detailed fetal and gynecological imaging.
Key Takeaways
- The Medical Imaging Devices Market is expected to grow significantly, driven by advancements in technology and increasing demand across various healthcare applications.
- MRI remains the dominant imaging modality, while Ultrasound is poised for the fastest growth.
- Oncology leads in application, with Cardiology as the fastest-growing segment.
- North America dominates the market, with the Asia-Pacific region showing the fastest growth due to rising healthcare investments.
- Recent product launches and innovations continue to drive the market forward, with a focus on AI integration and improving imaging accuracy and accessibility.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Medical Imaging Devices Market Segmentation, by Type
8. Medical Imaging Devices Market Segmentation, by Application
9. Medical Imaging Devices Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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