Medical Imaging Market: Increasing Prevalence of Chronic Diseases to Flourish Demand for Medical Imaging

Tue, 11 June 2019 6:19

Medical imaging devices are used for diagnosing severe and chronic conditions or disorders in the human body. A number of medical imaging techniques are available for specific clinical specialty. Cure of a disease or disorder starts with a precise and on-time diagnosis of the medical condition with the help of medical imaging techniques.

The rise in the prevalence of chronic and severe diseases across the globe and surge in the number of medical imaging procedures across hospitals and diagnostics centers are boosting the medical imaging market. According to the American Heart Association & American Stroke Association, over 801,000 people die in the U.S. from cardiovascular diseases. Moreover, 2,200 people die every day in the U.S. by cardiovascular disease. According to the International Osteoporosis Foundation, more than 1.6 million hip fractures occur each year globally, and by the number is expected to surpass the mark of 4.5 million by 2050.

Constantly growing geriatric population and rising awareness among people regarding early diagnosis of severe clinical disorders are expected to support the market growth during the forecast period 2019–2026. Since early and precise diagnosis of cancer is the only way to cure, medical imaging devices are expected to witness a surge in the demand.

However, high cost of the diagnosis by certain medical imaging devices and lack of skilled professionals in the developing region including Latin America and some part of Asia Pacific are likely to hamper the market growth

Segmental Analysis

Global medical imaging market is segmented into product, application, clinical specialty, and region.

Based on the product, the global medical imaging market is segmented into computed tomography (CT) scanners, x-ray imaging systems, and magnetic resonance imaging (MRI) systems. Computed tomography (CT) scanners are further segmented into high-end slice, mid end slice, and low-end slice. X-ray imaging systems is segregated into modality and technology. Magnetic resonance imaging (MRI) systems are further divided into MRI Architecture, MRI Field Strength, Ultrasound Imaging Systems, Doppler Imaging, Nuclear Imaging Systems, and Mammography Systems.

Based on application, the market is divided into diagnostic imaging, clinical review, and advanced imaging.

Based on clinical specialty, the medical imaging market is segregated into oncology, cardiology, general imaging/radiology, obstetrics & gynecology, orthopedics, mammography, urology, and other clinical specialties. Amongst clinical specialty, general imaging/radiology segment is expected to account for a significant share of the global medical imaging market.

Regional Analysis

By region, the global medical imaging market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

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North America is projected to dominate the global medical imaging market owing to ongoing technological advancements across the region and high demand for medical imaging devices. High prevalence of certain diseases in the U.S., including cardiac diseases and cancer is one of the other major factors responsible for flourishing demand for medical imaging devices.

Europe medical imaging market is expected to grow significantly owing to strong presence of major players in the region and rise in awareness among people regarding early diagnosis of severe and chronic diseases.

Asia Pacific is the fastest growing market for medical devices due to huge population base and constantly growing geriatric population across the region. Geriatric population is exposed to several complications and severe diseases due to loss or decline in the immunity.

Key Players

Some of the major players in the global medical imaging market are GE Healthcare, Philips Healthcare, Hitachi Medical Corporation, Varian Medical Systems, Hologic, Inc., Carestream, Siemens Healthcare, Samsung Medison, Shimadzu Corporation, Aribex Corporation, Canon Medical Systems Corporation, Toshiba Medical Systems Corporation, Fujifilm Corporation, and Carl Zeiss Meditec AG

Brief Segmentation of Medical Imaging Market

By Product

  • Computed Tomography (CT) Scanners
    • Low End Slice
    • Mid End Slice
    • High End Slice
  • X-Ray Imaging Systems
    • Modality
      • Portable Devices
      • Stationary Devices
    • Technology
      • Analog Imaging
      • Digital Imaging
    • Magnetic Resonance Imaging (MRI) Systems
      • MRI Field Strength
        • Field Systems
        • Low To Mid Field Systems
        • High Field Systems
        • Very High Field Systems
      • Ultrasound Imaging Systems
        • Doppler Imaging
        • 2D Imaging Systems
        • 3D & 4D Imaging Systems
        • Extracorporeal Shock Wave Lithotripsy (ESWL)
        • High-Intensity Focused Ultrasound (HIFU)
      • MRI Architecture
        • Open MRI Systems
        • Closed MRI Systems
      • Nuclear Imaging Systems
        • Single-Photon Emission Computed Tomography (SPECT)
        • Positron Emission Tomography (PET)
      • Mammography Systems

By Application

  • Diagnostic Imaging
  • Clinical Review
  • Advanced Imaging

By Clinical Specialty

  • Oncology
  • Cardiology
  • General Imaging/Radiology
  • Obstetrics & Gynecology
  • Orthopedics
  • Mammography
  • Urology
  • Other Clinical Specialties

By Region

  • North America (U.S and Canada)
  • Europe (Germany, France, Italy and Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
  • MEA (Saudi Arabia, UAE, South Africa, and Rest of MEA)
  • Latin America (Brazil, Argentina, and Rest of Latin America)

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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