Global Medical Imaging Market: Rapid Technological Advancements in Medical Imaging Equipment is Expected to Fuel the Industry Growth

The global medical imaging market is expected to grow at growth rate of 5.1% to reach USD 54.9 billion by 2025. This comprehensive study reveals the market estimate numbers for different market segments. Along with that, the study covers qualitative insights, strategic benchmarking and thorough competitive landscaping in the report spreading over 121 pages.

Medical imaging refers to technologies that are used to monitor, diagnose, and treat part of human body in different medical conditions. This system helps physician to get proper and accurate information about the specific area of the body being diagnosed with the possible disease, injury and other medical treatment. Advancement in medical technology plays a strategic role in fostering the change of medical imaging system towards better health outcomes. For example, recent advancements and rising demand for early diagnosis have led to the introduction of advanced X-ray systems that includes Charge – Coupled Device (CCD) and Complementary Metal–Oxide– Semiconductor CMOS based digital system, direct and indirect flat panel detection system, and various others. Such advancements would, in turn, boost the uptake of medical imaging systems, driving the market growth.

Additionally, the global rise in the number of people affected by chronic disease conditions such as cancer, respiratory diseases, and cardiac disorders is likely to drive the market growth to great extent. However, unfavourable reimbursements and the high cost of these devices hamper the growth of this industry to some extent. For example, countries such as the U.S. have declined around 50.0% in reimbursement rates for medical imaging services between 2000 and 2015 and a similar trend can be observed in European and Asian countries.

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Key Takeaways:
- Product segment comprises of X-Ray, Nuclear imaging, Computed Tomography, Ultrasound, and MRI. Of which, X-Ray accounted for the largest share, around 8.16 billion in 2017.
- Nuclear imaging segment is projected to grow with the faster growth rate. Development of new radiotracers coupled with growing investment by key companies to develop novel products in this segment will augment the growth of this sector.
- North America captured highest revenue share owing to the rising chronic disease incidences, along with the rising purchasing power of people in the U.S. and Canada. For instance, according to the American Cancer Society, Surveillance Research, there were around 1,665,540 cancer cases in 2014, and 1,685,210 cancer cases in 2016.
- Companies such as Phillips, GE Healthcare, Shimadzu Corporation, Aribex, and Siemens Healthineers are profiled in research
- Strategic collaborations with small & large scale players to expand companies’ presence in this market is considered to be an important strategy adopted by kay participants
- For example, in May 2017, Siemens Healthineers collaborated with the U.S.-based Imricor Medical System. This was a strategic partnership to improve procedures with MRI scan and aimed to develop an integrated solution for treating arrhythmia and improving treatment outcomes.

Browse full report with in-depth ToC on “Medical Imaging Market, By Product (X-Ray, Nuclear imaging, Computed Tomography, Ultrasound, and MRI), by Type (Stationary, and Portable) and Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025” at
www.analystviewmarketinsights.com/report-highlight-medical-imaging-market-168/

The scope of this report covers the market by its major segments, as follows:

Market, by product: X-Ray, Nuclear imaging, Computed Tomography, Ultrasound, and MRI;
Market, by type; Stationary, and Portable;
Market, by Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa and Rest of the World; Market, by Country: U.S., Canada, Germany, France, India, and China;

Key players profiled in this report with special attention on competitive landscape includes, (can be further customized to include additional 10 profiles of companies):
Phillips
GE Healthcare
Shimadzu Corporation
Aribex
Siemens Healthineers

Key benefits of the report:
• The report presents macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
• Thorough analysis of relevant statistical data to estimate the market paradigms
• Exceptional understanding of region and country specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
• Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

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This release was published on openPR.