Medical Imaging Market Poised to Grow at a CAGR of 6.56% by 2024
Infinium Global Research has added a new report on Medical Imaging Market. The report presents analysis of global as well as regional markets of medical imaging market over the period of 2016 to 2024.
Medical imaging is one of the key tool in the early diagnostics and prevention of diseases. Medical imaging can also be referred to as disease management techniques as it helps in identification of potential problems and thus helps to prevent their occurrences. Recent medical imaging systems has revolutionalised healthcare. Sharing of patient’s information as digital files through cloud based platforms & networks and the onset of surgical C-arm machines in the medical imaging sector for performing complex surgeries are some of the recent technological advancement in the medical imaging market. The global market size of medical imaging market was worth USD 29.48 billion and it is projected to reach to USD 46.18 billion in 2024. Major components driving growth in the medical imaging market includes rising age demographics, growth in the incidence of various diseases and increasing awareness for early stage chronic disease detection and diagnosis. Also factors such as increasing investments and grants by government bodies for modernization of imaging facilities and technological advancements in diagnostics imaging modalities are too responsible to augment growth of medical imaging market. However factors such as high cost of diagnostic imaging system and technological limitations associated with stationary/ standalone imaging systems to hinder the growth of the medical imaging markets. File Sharing ecosystem and growing adoption of mobile and portable medical imaging devices are the major factors that can further create huge growth opportunities for the medical imaging market.
On the basis of Product, Radiography segment has held the largest market share in 2017.whereas nuclear medicine scans segment is anticipated to grow with the highest CAGR among other products. On the basis of product type, the stationary medical imaging devices held the largest market share and the portable product type is expected to grow with the highest CAGR for the forecast period. Among end-users, the specialty clinics held the largest market share in 2017 and is expected to dominate its leading position during the forecast period.
Among the regions, North America has the dominant market share among other regions. The U.S accounted for the highest market share owing to presence of major leading medical imaging diagnostic companies and introduction of new products in these region. Furthermore, rising number of diseases coupled with high expenditure on healthcare by U.S citizens are also some of the influential factors responsible to drive growth of medical imaging market in this region. Asia Pacific is expected to grow at the fastest rate over the forecast period owing to development of healthcare facilities, increase government initiatives and growing medical tourism in APAC countries. Japan has the highest market share in the medical imaging market owing to presence of companies catering into medical imaging devices and technological advancement made by these companies.
Among the regions, North America has the dominant market share among other regions. The U.S accounted for the highest market share owing to presence of major leading medical imaging diagnostic companies and introduction of new products. Furthermore, rising number of diseases coupled with high expenditure of U.S citizens on healthcare are also some of the influential factors responsible to drive growth of medical imaging market in this region. Asia Pacific is expected to grow at the fastest rate over the forecast period owing to development of healthcare facilities, increase government initiatives and growing medical tourism in APAC countries. Japan has the highest market share in the medical imaging market owing to presence of companies catering into medical imaging devices and technological advancement made by these companies.
Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global medical imaging market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that North America dominated the global medical imaging market over the last couple of years, while emerging markets of Asia-Pacific is anticipated to contribute significantly to the growth in the medical imaging market worldwide.
The report segments the global medical imaging market on the basis of Product, Product Type and End-User.
Global Medical Imaging Market by Product
· Radiography( X-Ray)
· Computed Tomography Scans
· Magnetic Resonance Imaging Scans
· Nuclear Medicine Scans
Global Medical Imaging Market by Product Type
Global Medical Imaging Market by End-User
· Imaging Centers
Companies Profiled in the Report
· GE Healthcare
· Siemens Healthcare
· Shimadzu Corporation
· Koninklijke Philips N.V
· Toshiba Medical System Inc.
· Ziehm Imaging Inc.
· Aribex Corporation
· Varian Medical Systems
About Infinium Global Research
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