Medical Imaging: A Detailed Case Study

The size of the global medical imaging market is expected to reach around USD 78.1 billion by 2030 at a compound annual growth rate of over 7.08 percent, from an estimated USD 45.12 billion in 2022, according to Canada-based Precedence Research.

The increased prevalence of chronic disease among the people has given rise to the need of imaging techniques in order to and decide the prognosis of the disease and thus decided a suitable line of treatment for the patient. The imaging techniques are mainly used in the orthopedic field where a clear picture of the structural changes is required by the doctor in order to decide a line of treatment for the patient.

The gynecological field also shows a great demand for the imaging techniques in order to make a proper judgment regarding the pathological and structural changes inside the abdomen and pelvic region of the person. More advanced imaging techniques are used when the basic imaging procedures fail to detect a problem with the patient.

Recent developments

• In April 2021, Ziehm Imaging has collaborated with Carestream to supply a C-Arm machine See on machine, Ziehm Vision RFD which is expected to support its market growth.

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Medical Imaging Market Key Takeaways:

• In 2021, the ultrasound product segment has registered highest market share of 29%.
• North America medical imaging market was valued at USD 12.32 billion in 2021.
• Based on product, U.K. medical imaging market was estimated at USD 2.1 bn in 2021.
• The CT product segment is anticipated to grow at a remarkable CAGR from 2022 to 2030.
• In 2021, the hospital segment accounted 48% revenue share.
• In 2021, North America region has garnered 34% market share.

Medical Imaging Market Scope

Medical Imaging Market Highlights

• On the basis of product, the X ray imaging technique has dominated the segment as a result of its easy availability in almost every part of the world. It is a primary imaging procedure which is followed immediately after a major trauma.
• On the basis of end user, the hospital sector has dominated the segment as a result of, it being a primary health care service in case of an emergency. The multiple facilities along with skilled labor force which is provided by a hospital set up proves to be an attractive offer for the people which helps the market to show a considerable growth.
• On the basis of geography, the North American market has dominated the segment as a result of its rapid technological advancements.

Regional Snapshots

The North American market has dominated the segment as a result of the huge geriatric population residing in this region Who are prone to multiple chronic diseases and bone disorders. The increased prevalence of road accidents and chronic diseases among the people has increased the need for advanced technology in the field of medical imaging in order to provide better services to the people.

The Asia Pacific region has proved to be a huge market for the medical imaging as a result of the rapid technological advancements seen in this sector. The European market has also proved to be very beneficial for the growth of the market due to the advanced facilities which are provided by the government. The Middle Eastern countries have also shown a significant growth as a result of the excellent facilities provided with the use of advanced technologies.

Medical Imaging Market Dynamics

Drivers

The rapid advancements which are seen in the imaging technology has helped the market to record a considerable growth during the forecast period. The incremental innovations done by the key market players in order to attract the potential consumers has proved to be a driving force for the market. The increasing disposable income of the people as a result of the high-income capacity has helped the market to record a considerable growth.

The rapid increase in the number of chronic diseases which are seen in the market has helped to boost the market size tremendously. Increasing awareness regarding the health care sector among the people has also boosted the market size considerably as a result of technological advancements. The rapidly increasing geriatric population in the world has propelled the demand for advanced imaging technology in order to provide the best possible services to the people. These multiple reasons prove to be the driving factors for the growth of the medical imaging market during the forecast period.

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Restraints

The high cost which is associated with the use of advanced technology has proved to be a restraining factor for the growth of the medical imaging market. Lack of disposable income possessed by the people residing in the developing and underdeveloped countries has proved to be a barrier for the growth of the market during the forecast period. The lack of awareness regarding the health care facilities provided by the private and the governmental organizations has hindered the growth of the market.

There is also a lack of awareness regarding the reimbursement facilities which are provided by the insurance companies and hence people avoid the visits to the health care centers. The difficulties which are faced by the common people in order to obtain reimbursement from the insurance companies has also hindered the growth of the market to a great extent these multiple reasons prove to be the restraining factors for the growth of the market during the forecast period.

Opportunities

With the rapid advancements in technology regarding the imaging methods, people have shown acceptance towards the changing methods which has helped the market to grow. The new government policies which have been laid down in order to provide better health care facilities to the people has supported the growth of the market to a great extent.

A number of government initiatives have come up in order to encourage the people to take advantage of the various health care facilities which include the imaging procedures as well. The introduction of artificial intelligence into the imaging procedures has helped the market to find new opportunities in the healthcare sector. The chances of human error are eliminated with the use of artificial intelligence. These multiple reasons prove to be the opportunities for the growth of the market during the forecast period.

Challenges

The lack of skilled labor force in order to operate the advanced technology and machines has proved to be a great challenge for the medical imaging market. Risk cannot be taken regarding the skilled medical staff as it is directly related to the functioning of these costly machines.

The high cost which is associated with the use of these advanced technologies has proved to be a great challenge for the growth of the market as it cannot be afforded by the developing countries who have a weaker economic background. The lack of awareness regarding the health care facilities provided by the government has also proved to be a great challenge for the growth of the market.

Key Market Players

• Siemens Healthineers
• Canon Medical Systems Corp.
• GE Healthcare
• Koninklijke Philips N.V.
• Mindray Medical International
•  Esaote
•  Hologic
• Samsung Medison Co.
• FUJIFILM VisualSonics Inc.
• Cubresa Inc.
• Koning Corporation
• PerkinElmer Inc.

Segments Covered

By Product

• X-Ray Devices
  • Digital
    • Direct Radiography Systems
    • Computed Radiography Systems
  • Analog
• Magnetic Resonance Imaging (MRI)
• Ultrasound
  • 2D Ultrasound
  • 3D Ultrasound
  • Others
• Computed Tomography
• Nuclear Imaging
• Mammography

By Application

• Obstetrics and Gynecology Health
• Orthopedics and Musculoskeletal
• Neuro and Spine
• Cardiovascular and Thoracic
• General Imaging
• Oncology
• Urology
• Breast Health
• Others

By End User

• Diagnostic imaging centers
• Hospitals
• Others

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Philippines
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of the Middle East & Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Medical Imaging Market 

5.1. COVID-19 Landscape: Medical Imaging Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Medical Imaging Market, By Product

8.1. Medical Imaging Market, by Product, 2022-2030

8.1.1 X-Ray Devices

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Magnetic Resonance Imaging (MRI)

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Ultrasound

8.1.3.1. Market Revenue and Forecast (2017-2030)

8.1.4. Computed Tomography

8.1.4.1. Market Revenue and Forecast (2017-2030)

8.1.5. Nuclear Imaging

8.1.5.1. Market Revenue and Forecast (2017-2030)

8.1.6. Mammography

8.1.6.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Medical Imaging Market, By Application

9.1. Medical Imaging Market, by Application, 2022-2030

9.1.1. Obstetrics and Gynecology Health

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Orthopedics and Musculoskeletal

9.1.2.1. Market Revenue and Forecast (2017-2030)

9.1.3. Neuro and Spine

9.1.3.1. Market Revenue and Forecast (2017-2030)

9.1.4. Cardiovascular and Thoracic

9.1.4.1. Market Revenue and Forecast (2017-2030)

9.1.5. General Imaging

9.1.5.1. Market Revenue and Forecast (2017-2030)

9.1.6. Oncology

9.1.6.1. Market Revenue and Forecast (2017-2030)

9.1.7. Urology

9.1.7.1. Market Revenue and Forecast (2017-2030)

9.1.7. Breast Health

9.1.8.1. Market Revenue and Forecast (2017-2030)

9.1.9. Others

9.1.9.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Medical Imaging Market, By End User 

10.1. Medical Imaging Market, by End User, 2022-2030

10.1.1. Diagnostic imaging centers

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Hospitals

10.1.2.1. Market Revenue and Forecast (2017-2030)

10.1.3. Others

10.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Medical Imaging Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Product (2017-2030)

11.1.2. Market Revenue and Forecast, by Application (2017-2030)

11.1.3. Market Revenue and Forecast, by End User (2017-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.1.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.1.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.1.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.1.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.6.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.6.3. Market Revenue and Forecast, by End User (2017-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Product (2017-2030)

11.2.7.2. Market Revenue and Forecast, by Application (2017-2030)

11.2.7.3. Market Revenue and Forecast, by End User (2017-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.6.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.6.3. Market Revenue and Forecast, by End User (2017-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Product (2017-2030)

11.3.7.2. Market Revenue and Forecast, by Application (2017-2030)

11.3.7.3. Market Revenue and Forecast, by End User (2017-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.6.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.6.3. Market Revenue and Forecast, by End User (2017-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Product (2017-2030)

11.4.7.2. Market Revenue and Forecast, by Application (2017-2030)

11.4.7.3. Market Revenue and Forecast, by End User (2017-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.5.3. Market Revenue and Forecast, by End User (2017-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Product (2017-2030)

11.5.4.2. Market Revenue and Forecast, by Application (2017-2030)

11.5.4.3. Market Revenue and Forecast, by End User (2017-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Product (2017-2030)

11.5.5.2. Market Revenue and Forecast, by Application (2017-2030)

11.5.5.3. Market Revenue and Forecast, by End User (2017-2030)

Chapter 12. Company Profiles

12.1. Siemens Healthineers

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Canon Medical Systems Corp.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. GE Healthcare

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Koninklijke Philips N.V.

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Mindray Medical International

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Esaote

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Hologic

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Samsung Medison Co.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. FUJIFILM VisualSonics Inc.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global medical imaging market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for medical imaging are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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