Global Medical Imaging Market By Product (X-ray, Ultrasound, Computed Tomography, And Others), By End-Use (Hospitals, Ambulatory Imaging Centers, and Other End-Uses), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Medical Imaging Market Overview:

The global market for medical imaging was valued at USD 16,214 million in 2021. This market is expected to grow at a 5.78% CAGR, between 2023-2032.

Major drivers of the industry include the growing demand for early-stage diagnosis and treatment for chronic diseases. This will also increase the demand for diagnostic imaging worldwide.

Global Medical Imaging Market Analysis

Product Analysis

The segment ultrasound held the largest share at 33% in 2021. It is expected to continue its lead during the forecast period. New opportunities have been opened for ultrasound devices in cardiovascular and biomedical imaging thanks to recent advances in advanced ultrasound transducers.

The development of portable ultrasound devices, which is a focus of the high-end research team, will allow for expanded applications in ambulatory and emergency care.

The CT segment will experience the greatest growth over the forecast period. For COVID-19 patients, CT systems are a primary diagnostic tool. This segment has been driven principally by the high demand for CT devices at point-of-care as well as the integration of Artificial Intelligence. Canon received the U.S.

End-Use Analysis

In 2021, hospitals accounted for a significant revenue share of the market. This segment is being driven by the increasing demand for the integration of surgical suits and advanced imaging techniques into imaging technologies. There has been a sharp increase in demand for teaching hospitals in countries outside of developed regions. This is in contrast to the general and special hospitals. But, the number of hospitals has risen sharply in Asia Pacific countries. This is due to the emergence of multi-national healthcare service providers.

Private players dominate healthcare services in these countries. Most new hospitals have dedicated areas for imaging modalities. The segment is expected to grow due to increasing competition and growing demand for top-quality healthcare services in the future.

The segment of ambulatory imagery centers is expected to grow at the fastest pace in the next few years due to rising trends in ambulatory scanning. This segment is being driven by government initiatives to improve access to rural care. A lot of attention is paid to the adoption of ambulatory image centers in Southeast Asian countries such as Thailand and Malaysia.

Key Market Segments

By Product

• X-ray
• Ultrasound
• Computed Tomography
• Magnetic Resonance Imaging
• Nuclear Imaging

By End-use

• Hospitals
• Ambulatory Imaging Centers
• Diagnostic Imaging Centers
• Other End-Uses

Market Dynamics

Market growth is expected to be aided by technological advances, as well as supportive investments and funding from the government, particularly in emerging countries such as India and China.

Market growth is expected to be impacted by increasing demand for state-of-the-art imaging modalities at universities and teaching hospitals to train for advanced technology. This trend was previously restricted to developed countries. However, it is now shifting towards developing countries. Siemens Healthineers’ MAGNETOM Terra 7T MRI system has been approved only for use in the United States.

Regional Analysis

North America was the dominant market, with a 32% share in 2021. The region’s market growth has been aided by the presence of large industry players as well as the frequent launching of new products within the region. High adoption rates of high-priced and advanced medical imaging modalities in the region can be attributed to favorable reimbursement policies and patient awareness.

Additionally, service costs in developed countries are 1000 times more costlier than those in developing nations. This allows for a faster return on investment when high-priced diagnostic equipment and suits are purchased.

North America is the country with the highest healthcare expenditures per capita. The region’s medical imaging market will be driven by the above factors as well as the rising number of chronic diseases and an increasingly aging population.

Due to increasing incidences of chronic disease and the high demand for advanced imaging devices, the Asia Pacific diagnostic imaging market is expected to grow at a rapid pace during the forecast period. Japan is the Asia Pacific’s largest market for medical images.

Market growth in the region will be driven by South Korea and Japan-based market giants. The region will see an increase in local manufacturing units that provide affordable diagnostic units. This will allow for a more price-sensitive, but under-penetrated market.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

For preclinical research, players are now focusing their efforts on multimodal imaging devices. Multimodal/Hybrid imaging technology is being viewed as the future of diagnostic imaging. These technologies allow for significant savings in space and investment. The combination of multiple modalities allows for precise diagnostics.

Market growth will be influenced by the recent trends in collaborations between international and local businesses. These collaborations and technology exchanges help speed up the development of the market and boost competition. This allows for the creation of sophisticated, yet affordable imaging systems. Collaborations like these are not just for diagnostic imaging companies.

The integration of imaging modalities and advanced surgical suitmakers is expected to have a positive effect on both the growth of the diagnostic imaging market as well as robotic-assisted surgery system sales.

Маrkеt Кеу Рlауеrѕ:

• GE Healthcare
• Koninklijke Philips N.V.
• Mediso Ltd.
• MILabs B.V.
• Siemens Healthineers
• TriFoil Imaging
• PerkinElmer Inc.
• Cubresa Inc.
• Other Key Players

For the Medical Imaging Market research study, the following years have been considered to estimate the market size: