Medical imaging is defined as a technique and process that can create visual representations of the interior of a body that can be used for clinical analysis and medical intervention. Via medical imaging, the visual representation of the function of some organs or tissues (physiology) can also be created. A new report on the global medical imaging market, published by Market Research Future (MRFR), estimates that this market can mark success at 6.5% CAGR between 2018 and 2023.
The most important market driver for the global medical imaging market growth is increasing the prevalence of cardiac disorders and neurological disorders. Hence, the demand for imaging services is rising. Other factors driving the market growth include increasing investments from public-private organizations, expanding funds for medical research & development (R&D), increasing role of technology in medical sector, rising prevalence of cancer, introduction of new medical devices as well as gadgets, increasing preference for minimally invasive treatments, and rising number of diagnostic imaging centers. However, high-cost medical imaging devices and backward healthcare systems in some countries can hinder the market growth.
Market Segmentation
The Global Medical Imaging Market is segmented based on product type, application, end-user, and region. By product type, the market is segmented into magnetic resonance imaging (MRI), X-Ray imaging systems, ultrasound imaging systems, nuclear imaging systems, and computed tomography (CT) scanners. The MRI segment is sub-segmented into low to mid-field MRI systems, high and very high field MRI systems, and ultra-high field MRI systems. Other sub-segmentations of key segments are provided in the report.
By application, the market is segmented into product type, and then further segmented by applications for each product type. Key segments include MRI systems, CT scanners, nuclear imaging systems, X-ray imaging systems, and ultrasound imaging systems. ultrasound systems are further segmented into obstetrics, general imaging, cardiology, urology, vascular, and others. Further sub-segmentation can be found in the report.
By end-user, the market is segmented into hospitals & clinics, research & academic institutes, diagnostic imaging centers, and others.
Regional Outlook
On the basis of region, the global market for medical imaging has been segmented into four key regions, which include Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). North America currently accounts for a significant share of the market and is likely to remain highly attractive over 2022. Meanwhile, Europe and APAC are other two important market for medical imaging. The latter is expected to exhibit a noteworthy growth in the forthcoming years.
Key Players
Big players in the global medical imaging market are Carestream Health (USA), Esaote S.P.A (Italy), Fonar Corporation (USA), Fujifilm Holdings Corporation (Japan), General Electric Company (USA), Hitachi Ltd. (Japan), Hologic Inc. (USA), Koninklijke Philips N.V. (Netherlands), Narang Medical Limited (India), Samsung Medison (South Korea), Shimadzu Corporation (Japan), Siemens AG (Germany), and Toshiba Corporation (Japan).
Latest Industry News
His Excellency Humaid Al Qutami, Director-General of Dubai Health Authority (DHA) has inaugurated the state-of-the-art artificial intelligence (AI) backed medical imaging systems at Al Zahra Hospital Dubai. 16 SEP 2019
1 EXECUTIVE SUMMARY
1.1 MARKET SYNOPSIS 20
1.2 MARKET ATTRACTIVENESS ANALYSIS 21
1.3 GLOBAL MEDICAL IMAGING MARKET, BY MODALITY 22
1.4 GLOBAL MEDICAL IMAGING MARKET, BY APPLICATION 23
1.5 GLOBAL MEDICAL IMAGING MARKET, BY END USER 24
2 MARKET INTRODUCTION
2.1 DEFINITION 25
2.2 SCOPE OF THE STUDY 25
2.3 RESEARCH OBJECTIVE 25
2.4 MARKET STRUCTURE 25
2.5 ASSUMPTIONS & LIMITATIONS 26
3 RESEARCH METHODOLOGY
3.1 DATA MINING 27
3.2 SECONDARY RESEARCH 28
3.3 PRIMARY RESEARCH 29
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 30
3.5 FORECASTING TECHNIQUES 31
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 32
3.6.1 BOTTOM-UP APPROACH 33
3.6.2 TOP-DOWN APPROACH 33
3.7 DATA TRIANGULATION 34
3.8 VALIDATION 34
4 MARKET DYNAMICS
4.1 OVERVIEW 35
4.2 DRIVERS 36
4.2.1 INCREASING STRATEGIC AGREEMENTS 36
4.2.2 RISE IN RESEARCH AND DEVELOPMENT CENTERS FOCUSED ON MEDICAL IMAGING 36
4.2.3 INCREASING AWARENESS RELATED TO THE DIAGNOSIS OF DISEASES 36
4.3 RESTRAINTS 37
4.3.1 SHORTAGE OF TRAINED PROFESSIONALS 37
4.3.2 INABILITY OF HEALTHCARE ORGANIZATIONS TO PURCHASE EXPENSIVE IMAGING SYSTEMS 38
4.3.3 HIGH COST OF IMAGING DEVICES 38
4.4 OPPORTUNITIES 39
4.4.1 INCREASING PRODUCT LAUNCHES 39
4.5 PRODUCT TRENDS 39
4.5.1 ADVANCES IN X-RAY IMAGING SYSTEMS 39
4.5.2 EVOLUTION IN MRI SYSTEMS 39
4.5.3 BREAKTHROUGH IN ULTRASOUND TECHNOLOGY 40
4.5.4 RESEARCH IN NUCLEAR IMAGING 40
4.5.5 WEARABLE MEDICAL DEVICES 40
4.5.6 CONTRAST AGENTS IN DIAGNOSTIC IMAGING 40
5 MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES MODEL 41
5.1.1 BARGAINING POWER OF SUPPLIERS 42
5.1.2 BARGAINING POWER OF BUYERS 42
5.1.3 THREAT OF NEW ENTRANTS 42
5.1.4 THREAT OF SUBSTITUTES 42
5.1.5 INTENSITY OF RIVALRY 42
5.2 VALUE CHAIN ANALYSIS 43
5.2.1 R&D AND DESIGNING 44
5.2.2 MANUFACTURING 44
5.2.3 DISTRIBUTION 44
5.2.4 MARKETING AND SALES 44
5.2.5 POST-SALES MONITORING 44
5.3 INVESTMENT SCENARIO 44
5.3.1 INVESTMENT RISKS 45
5.3.1.1 INCREASING USE OF REFURBISHED DEVICES AFFECTING NEW SALES 45
5.3.2 MARKET OUTLOOK 45
5.3.3 COMPETITORS 45
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