Medical imaging market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 10.4% in the forecast period of 2020 to 2027and expected to reach USD 265,334.23 million by 2027 from USD 120,237.71 million in 2019. Rising minimally invasive diagnostic and therapeutic interventional procedures and increasing prevalence of chronic diseases are the factors for the market growth.
The major players covered in the report are Spectrum Health, RamSoft, Inc., InHealth Group, Radiology Reports online, Siemens Healthineers AG, Sonic Healthcare, RadNet, Inc., GE Healthcare (A subsidiary of GENERAL ELECTRIC), Alliance HealthCare Services, Koninklijke Philips N.V., Hologic Inc., Shimadzu Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CANON MEDICAL SYSTEMS CORPORATION, Carl Zeiss Ag, FUJIFILM Corporation, Hitachi, Ltd., MEDNAX Services, Inc., Carestream Health (A subsidiary of Onex Corporation), Teleradiology Solutions, UNILABS, ONRAD, Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Medical imaging can be thought of as a technique to create various internal images of the body for diagnosis and treatment of the disease. This technique is mainly useful in improving the health of people around the world, as it can help in the early diagnosis of some internal diseases and providing the right treatment for a particular disease. May also examine what has already been diagnosed with treatment.
The technology of medical imaging is used at the numerous levels of patient management process, such as screening, diagnosis, therapy delivery, staging, and medical follow-up.. For instance, According to the National Health Council, in America, approximately 133 million people were affected by the chronic diseases in 2019 and it is estimated that in 2020, this number will grow up to 157 million with 81 million people having multiple conditions. Increasing technology advancements will also drive the market.
This medical imaging market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
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Global Medical Imaging Market Scope and Market Size
Global medical imaging market is segmented of the basis of type, modality, procedure, technology, patient age, application, end users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Medical Imaging Market Country Level Analysis
Global medical imaging market is analysed and market size information is provided by country, type, modality, procedure, technology, patient age, application, end users as referenced above.
The countries covered in the medical imaging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific in the Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, South Africa, Rest of Middle East and Africa as a part of Middle East and Africa, Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical imaging market as the U.S. is leader in medical imaging. Due to better advancement in products and services in North America, the region dominates medical imaging. North America spends high amount on health care; particularly U.S. Asia-Pacific is growing with the highest CAGR due to the increasing medical tourism and increasing population. The number of companies in emerging countries is increasing due to increasing demand for diagnostics in clinics, hospitals and other sectors. Additionally, the increasing number of healthcare expenditure and increasing number of hospitals and clinical diagnostic laboratories in China and India upsurge demand of medical imaging. The Asia-Pacific region is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of increasing infectious diseases. Germany dominates the European market due to the technological advanced health system in the country. In the Asia-Pacific region, Japan dominates due to the technological advancements healthcare industry and increasing purchasing power in this country.
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The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
How will the report help new companies to plan their investments in the Medical Imaging market?
The Medical Imaging market research report classifies the competitive spectrum of this industry in elaborate detail.
The report also mentions about the details such as the overall remuneration, product sales figures, pricing trends, gross margins, etc.
Information about the sales & distribution area alongside the details of the company, such as company overview, buyer portfolio, product specifications, etc., are provided in the study.
Increasing Cases of Chronic Diseases and New Technology Penetration
Global medical imaging market also provides you with detailed market analysis for every country growth in medical device industry with medical imaging sales, impact of technological development in contrast agents and changes in regulatory scenarios with their support for the medical imaging market.
Competitive Landscape and Medical Imaging Market Share Analysis
Global medical imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to global medical imaging market.
Many joint ventures and developments are also initiated by the companies worldwide which are also accelerating the growth of global medical imaging market.
- In December 2019, GE Healthcare (General Electric Company) and Affidea (a pan-European leader in advanced clinical imaging) has signed an agreement to develop digital technologies and imaging in the Affidea network. The agreement contains 40 CT scanners, 60 new MRIs, 30 X-ray machines and 50 ultrasound equipment over the next 3 years. This agreement helped the company to increase its credibility in the market.
- In May 2019, Carstream Health has launched new software, ImageView software. This software helps in the digital revolution in its mobile X-ray system with advanced features of Microsoft Window 10 which eases the collection of detector performance data. This new software helps the company to offer accurate information to the patient.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for medical imaging through technological advancements.
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