Introduction:

Medical imaging includes different imaging modalities and processes to image the human body for diagnostic and treatment purposes. It plays an important role in initiatives to improve public health for all population groups. Technological advancements in nearly all types of modalities are leading to increased adoption across the world. Increasing patient population with chronic diseases resulting in larger population undergoing diagnostic procedures. Moreover, increased focus by leading market players and government support to improve healthcare infrastructure is also leading in increased use of medical imaging.

The global Medical Imaging market size was estimated to be at USD XXX million in 2019, and is expected to grow at a CAGR of XX% during forecast period to reach USD XXX million in 2027.

Market Dynamics:

Increasing demand for early diagnosis, growing geriatric population, increasing patient pool, technological advancements, etc. are anticipated to drive the growth of the market during forecast period. However, high initial cost of equipment and frequent product recalls due to technical errors is expected to limit the growth of the market. Although, introducing technologically advanced and cost effective solutions can create an opportunity for market players.

COVID-19 Impact:

The impact of COVID-19 pandemic has resulted in the disruption of production as well as distribution network due to logistic issues. Moreover, the impact on patient visits and delay in elective surgical procedures have resulted in negative impact on the global medical imaging market. The slight negative impact of COVID-19 pandemic has been observed on global medical imaging market.

Global Medical Imaging Market

Source: Precise Market Intelligence, 2020

Segmentation:

The market has been segmented based on form, indication, end user and region.

  • By Product Type
    • Computed Tomography (CT) Equipment
    • X-ray Equipment
    • Magnetic Resonance Imaging (MRI) Equipment
    • Ultrasound Equipment
    • Molecular Imaging Equipment
       
  • By Application
    • Orthopedics
    • Neurology
    • Cardiology
    • Oncology
    • Gynecology
    • Others
       
  • By End Users
    • Hospitals
    • Diagnostic Imaging Centers
    • Others
       
  • By Region
    • North America (U.S., Canada)
    • Europe (U.K., France, Germany, Italy, Spain, and rest of Europe)
    • Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
    • South America (Brazil, Mexico, and Rest of South America)
    • Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)

Based on Product type, the ultrasound equipment segment accounted for the largest market share due to increased application areas. Based on application, orthopedic segment accounted to highest market share. While, the diagnostic imaging centers segment dominated the end users, North America has the largest market share among regions.

Medical Imaging Market, By Region, 2019

Source: Precise Market Intelligence, 2020

Competition Landscape:

The prominent companies in the market are; Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Hitachi, Ltd., Canon Medical Systems Corporation, Schimadzu Corporation, Samsung, MR Solutions, PerkinElmer, Inc., TriFoil Imaging, FUJIFILM VisualSonics Inc., and others.

For better understanding of revenue contribution of each technology to the Medical Imaging Market, ask an expert analyst