Westford, USA, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Medical imaging market is an ever-growing that has helped millions of people worldwide. Thanks to advancements in technology and the work of numerous medical professionals, patients can now see and understand their health problems in ways never before possible. From diagnostic imaging to surgical planning, medical imaging has truly revolutionized healthcare. In addition, medical imaging technology is constantly advancing, which means that more and more patients are benefitting from its capabilities. With so much demand for medical imaging, it's no wonder the field is growing rapidly.
There are now a wide variety of options available in the global medical imaging market, including MRI scanners, X-ray machines, computed tomography (CT) scanners, and ultrasound machines. One of the main reasons for this sustained growth is the increasing popularity of radiology services. In 2021, radiology accounted for around 60% of all medical imaging revenues. However, this isn't the only area that's seeing significant growth. Other areas include computed tomography (CT), MRI, and ultrasound.
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With the rapidly advancing imaging technology, medical images market are becoming increasingly detailed and accurate, allowing physician to make informed decisions and accurate diagnosis. In short, with the advancement in technology, providers able to diagnose and treat patients with greater precision. In the last few years, medical imaging has become more affordable, making it more accessible to more people.
The market will be driven by the growth in traditional medical imaging application, such as radiology and cardiology – and emerging applications such as lung cancer and brain tumor detection.
Looking ahead, we expect the demand for digital radiology services to surge as more hospitals upgrade their systems to accommodate higher-quality images with less noise, leading to reduced radiation exposure for patients. In addition, new physics-based imaging techniques in the global medical imaging market will be adopted across multiple medical specialties, including cardiology, neurology and general surgery, expanding the range of diseases that can be diagnosed using medical imaging technology.
Refurbished Medical Imaging to Hit Sales of $ 18.3 Billion by 2028
Refurbished medical imaging market is expected to hit sales of $ 18.3 billion by 2028, according to a report by SkyQuest. The market is growing at a faster rate than the rest of the healthcare industry, as it offers better value for money for patients and hospitals. There are several reasons why the refurbished medical imaging market is growing faster than other aspects of the healthcare industry. One reason is that health care providers are realizing the importance of providing better quality images to their patients.
Refurbished medical imaging equipment is seeing an increase in demand as clinic operators scramble to keep up with the ever-growing needs of their patients. Operating budgets are being squeezed, so refurbished medical imaging equipment offers a more affordable and viable solution. In particular, clinics that specialize in cancer treatments are benefitting from this trend the most.
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Clinics in the medical imaging market that offer treatment for cancer patients commonly rely on medical imaging to diagnose and monitor the progress of the disease. The demand for medical imaging equipment has seen a rapid increase over the past several years, meaning that clinics have had to scramble to keep up. This is especially true for clinics that offer treatments that rely on radiology. Because of this, refurbished medical imaging equipment is becoming increasingly popular.
There are a number of reasons why refurbished medical imaging market is becoming increasingly popular. First, refurbished medical imaging equipment is often cheaper than new equipment. Second, it often comes with a longer warranty than new medical imaging equipment does. Finally, refurbished medical imaging equipment is usually in better condition compared to the cost. As a result, it poses less of a risk for injuries or other accidents.
The report includes a comprehensive analysis of the refurbished medical imaging market, as well as key growth drivers and challenges faced by manufacturers in this market. It provides insights into the factors that will determine the success or failure of companies in this market.
Cancer Patients are the Largest Consumers in Medical Imaging Market
Globally, 16.8 million people are diagnosed with various types of cancer and over 10 million cancer patient face death per annum. As a result, cancer patients are some of the most active users of medical imaging and therapeutic technology. Our stdy study suggest that people are likely to spend over $12.27 billion on cancer imaging by 2028 and the revenue is projected to expand at a CAGR of over 12% in the years to come.
A study by SkyQuest on global medical imaging market shows that medical imaging played an important role in cancer detection and treatment. This study looked at data from 2014 to 2021 and found that 62% of cancers were detected using medical imaging. Of these, 37% were detected using MRI scans, 28% were detected using CT scans, and 9% were detected using X-rays. Medical imaging is also useful for monitoring the effectiveness of therapy and assessing tumor response. As treatments evolve, more medical imaging is being used to monitor tumor response. The ASCO study showed that 74% of tumors were monitored with medical imaging after treatment began.
Imaging technologies can help detect signs and symptoms of cancer rapidly, allowing for early treatment and significantly reducing the chances of cancer recurrence. Additionally, medical imaging has become an essential tool for diagnosis and prognosis in cancer patients. There are many technologies in the medical imaging market that are used in cancer care, including X-rays, CT scans, MRI scans, PET scans, and ultrasound.
As per SkyQuest analysis, the demand for medical imaging market in cancer patients varies as per the type of cancer, spending power, physician recommendation, and need of an hour. For instance, X-rays are the cheapest form of imaging and can provide a general overview of a patient's health but may not be specific enough for certain diagnoses. CT scans are more expensive but can provide detailed images of organs and tissue. MRI scans are the most expensive but can provide detailed images of the brain, spine, and other parts of the body. PET scans are similar to CT scans but use radioactive materials to create images. Ultrasound is a non-invasive form of imaging that uses sound waves to image soft tissue areas inside the body.
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Major Players in Global Medical Imaging Market
- Siemens AG (Germany)
- Analogic Corporation (US)
- Canon Medical Systems Corporation (Japan)
- Carestream Health (US)
- CMR Naviscan (US)
- General Electric Company (US)
- Esaote S.p.A (Italy)
- FUJIFILM Holdings Corporation (Japan)
- Hitachi Ltd (Japan)
- Hologic, Inc. (US)
- Medtronic PLC (Ireland)
- Samsung (South Korea)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
- Shimadzu Corporation (Japan)
- Koninklijke Philips N.V. (Netherlands)
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