Pune, India, Dec. 20, 2022 (GLOBE NEWSWIRE) -- The global medical imaging market size is projected to reach USD 56.53 billion by the end of 2028. Recent technological advancements have played a massive role in the growth of the market in recent years. According to a report published by Fortune Business Insights, titled “Medical Imaging Market Size, Share & COVID-19 Impact Analysis, Type (Magnetic Resonance Imaging, Computed Tomography, X-ray, Ultrasound and Molecular Imaging), By Application (Cardiology, Neurology, Orthopedics, Gynecology, Oncology and Others), By End User (Hospitals, Specialty Clinics, Diagnostic Imaging Centers, and Others), and Regional Forecast, 2021-2028,” the market was worth USD 36.19 billion in 2020 and will exhibit a CAGR of 5.8% during the forecast period, 2021-2028.
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Key Industry Development:
May 2021: Several institutes collaborated and reported an imaging technique to capture motions of the brain in real-time in 3D. The institutes involved are Stevens Institute of Technology, Mātai Medical Research Institute, Stanford University, and others. The technique has been named 3D amplified MRI.
Medical imaging is widely used for several applications in the healthcare industry. The increasing applications of medical imaging, driven by the massive investments in product R&D will have a huge impact on the growth of the overall market in the coming years. The presence of several large scale companies in the global market will provide impetus to the growth of the market in the coming years. This type of imaging is used to diagnose physical injuries as well as locate and identify tumors in the human body. Technological integration has played a huge part in the development of efficient medical imaging tools in recent years. Increasing regulatory approvals for advanced products, coupled with the focus on product innovations will have a massive impact on the growth of the overall medical imaging market in the forthcoming years.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 5.8% |
| 2028 Value Projection | USD 56.53 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 36.19 billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 180 |
Increasing Number of Product Launches will have a Huge Impact on Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches has made the highest impact on market growth. Accounting to the massive potential held by medical imaging across the world, companies are looking to invest heavily in the development of efficient products, with a view to acquiring a wider consumer base. In April 2019, Canon Medical Systems announced the launch of a new ultrasound system that is said to deliver higher performance than its alternate counterparts. The company introduced ‘Aplio-A’ series that is used for multiple clinical purposes and are available at an affordable price. The availability of such low cost products with high efficiency will bode well for the growth of the overall market in the coming years.
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https://www.fortunebusinessinsights.com/industry-reports/medical-imaging-equipment-market-100382
Medical Imaging Market Segments:
| Market Segmentation | By Type
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By Application
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By End User
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By Geography
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Regional Insights:
North America to Emerge Dominant; Presence of Several Diagnostic Centres to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The presence of several diagnostic centres, especially in the United States, will have a huge impact on the growth of the regional market. The rising demand for advanced healthcare devices in the medical imaging sector will create several growth opportunities for the companies operating in the market. The market in Europe is likely to rise at a considerable CAGR in the coming years driven by the presence of several large scale companies in countries such as Germany, France, and the UK. As of 2019, the market in North America was worth USD 8.67 billion and this value is projected to increase further in the coming years.
List of Key Players Mentioned in the Report:
- General Electric Company (Massachusetts, United States)
- Hitachi, Ltd. (Tokyo, Japan)
- Shimadzu Corporation (Kyoto, Japan)
- Siemens Healthcare GmbH (Erlangen, Germany)
- KoninklIke Philips N.V. (Amsterdam, Netherlands)
- Hologic, Inc. (Massachusetts, United States)
- Samsung (Seoul, South Korea)
- Fujifilm Holdings Corporation (Tokyo, Japan)
- Other Prominent Players
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Technology Advances, Medical Imaging Market
4.2. Prevalence of Key Disease Conditions, Key Countries, 2019
4.3. Statistics: Key Imaging Procedures, By Key Countries, 2018
4.4. Key Developments: Mergers, Acquisitions, Partnerships, etc.
4.5. Impact of Covid-19 on the Medical Imaging Market
5. Global Medical Imaging Market Analysis, Insights and Forecast, 2016-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1.Magnetic Resonance Imaging
5.2.2.Computed Tomography
5.2.3.Ultrasound
5.2.4.X-ray
5.2.5.Molecular Imaging
5.3. Market Analysis, Insights and Forecast – By Application
5.3.1.Cardiology
5.3.2.Oncology
5.3.3.Orthopedics
5.3.4.Gynecology
5.3.5.Neurology
5.3.6.Others
5.4. Market Analysis, Insights and Forecast – By End User
5.4.1.Hospitals
5.4.2.Specialty Clinics
5.4.3.Diagnostic Imaging Centers
5.4.4.Others
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1.North America
5.5.2.Europe
5.5.3.Asia Pacific
5.5.4.Latin America
5.5.5.Middle East & Africa
6. North America Medical Imaging Market Analysis, Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1.Magnetic Resonance Imaging
6.2.2.Computed Tomography
6.2.3.Ultrasound
6.2.4.X-ray
6.2.5.Molecular Imaging
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1.Cardiology
6.3.2.Oncology
6.3.3.Orthopedics
6.3.4.Gynecology
6.3.5.Neurology
6.3.6.Others
6.4. Market Analysis, Insights and Forecast – By End User
6.4.1.Hospitals
6.4.2.Specialty Clinics
6.4.3.Diagnostic Imaging Centers
6.4.4.Others
6.5. Market Analysis, Insights and Forecast – By Country
6.5.1.U.S.
6.5.2.Canada
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