Global Medical Imaging Market 2019 To 2023 - Agfa Healthcare, Boston Scientific, Bruker Corp, Canon Inc and GE Healthcare

Albany, NY, 12th June : Recent research and the current scenario as well as future market potential of "Medical Imaging: A BCC Research Outlook" globally.

The global market for medical imaging should grow from $34.1 billion in 2018 to reach $43.6 billion by 2023 at a compound annual growth rate (CAGR) of 5.1% for the period of 2018-2023.

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Medical Imaging Market
Medical imaging market players offer various products which further clinical research by examining anatomical structures with various different techniques. These usually include tests such as x-ray examination, MRI, and ultrasonography,etc. The medical imaging market players also offer a gateway for medical professionals to examine critical illnesses and respond with an appropriate solutions. Hence, medical imaging market is witnessing a solid growth globally as newer techniques probe deeper into human anatomy and aim to offer a 360 degree view unlike ever before.
The growing frontier for the medical imaging market is the emergence of 3d technology. The advanced 3d technology promises to give physicians a holistic view of the human anatomy along with opening up lucrative opportunities in the medical imaging market. Increasing trend of virtualization also promises to show better interconnections between different sick body parts and their continuous state of the ailment. In order for the medical imaging market, health industry would need to adapt to trends in digitization, cloud, 3d technology which is expected to change the face of healthcare in the near future.
Medical imaging market is also becoming a backbone of drug development. Advanced Imaging techniques like magnetic resonance imaging (MRI) and positron emission tomography (PET) are regularly used in neuroscience and oncology drug development. Moreover, the medical imaging market players can benefit by focussing on imaging in the metabolic and cardiovascular disease area. Although clinical trials in this area are still in their early stages of development, reliable studies point towards a promise in this area.

Summary

Due to the prevalence of chronic diseases coupled with the increasing geriatric population and number of road accidents, stronger demand for better imaging has emerged. Chronic diseases such as cancer, strokes, neurodegenerative diseases, COPD (chronic obstructive pulmonary disease), cardiovascular diseases and others require imaging of body parts for proper diagnosis of the disease. According to the World Health Organization (WHO), the major diseases that lead most NCD (noncommunicable diseases) deaths are cardiovascular diseases, cancers, respiratory diseases and diabetes, accounting for more than 80% of all premature NCD deaths. NCDs claim 40 million deaths each year and account for approximately 70% of global deaths. Such high instances of chronic diseases require improved and advanced imaging technologies such as MRI, ultrasound and others. Also, the number of road accidents calls for the imaging technologies in cases of major and minor fractures. According to the World Health Organization (Switzerland), nearly 1.24 million people throughout the world die each year due to road traffic crashes that equates to ~3,400 deaths per day. Imaging instruments find huge application in cases of fractures. Factors such as prevalence of chronic diseases and an increasing geriatric population, coupled with increasing demand of 3D medical imaging equipment, are also providing traction to the global medical imaging instruments market.

Companies are focusing on the continuous development of products that support novel imaging technologies such as colored and 3D imaging due to their rising demand. Surging investments on technological advancements for increasing resolution and pixel capabilities, wider disease detection capabilities and more advanced software can be observed in the market. For instance, in 2017, Royal Philips (Netherlands) announced a new MRI system, MR Prodiva 1.5T, with enhanced clinical performance, workflow, and capability of 2D and 3D scans. Similarly, launched in November 2017 by NPL (National Physical Laboratory), 3D OrbiSIMSis a molecular imaging instrument used to explore potentials under cell biology and drug discovery. The imaging technologies are used across various end users including hospitals, diagnostic centers and research centers. In hospitals, the imaging instruments are used for imaging body parts in cases of chronic diseases or accidents. In diagnostic centers, the imaging instruments are widely adopted for diagnosing a particular body part or the whole body. The imaging instruments are used for molecular imaging in the research centers for drug discovery purposes.

The global medical imaging market is projected to rise at a CAGR of REDACTED during the forecast period of 2018-2023. By 2023, total revenue is expected to reach nearly REDACTED, with an increase of REDACTED from REDACTED in 2017.

The report provides an analysis based on each product type segment, which includes X-ray systems, magnetic resource imaging equipment/instruments, CT scanners, ultrasound systems and nuclear imaging equipment/instruments.

Report Scope:

The scope of this report is broad and covers various types of products available in the medical imaging instruments market and potential application sectors across various industries. The medical imaging instruments market is broken down into product types such as X-ray systems, ultrasound devices, MRI, CT and nuclear imaging. Revenue forecasts from 2018 to 2023 are given for each product type, technologies, application and end users with estimated valued derived from the revenue of manufacturers total revenues.

The report also includes a discussion of the major players across each regional medical imaging instrument market. It explains the major drivers and regional dynamics of the global medical imaging instruments market and current trends within the industry. An analysis of the regulatory scenario that governs the medical imaging industry is also included in the scope of this report.

The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the global medical imaging instruments market.

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Report Includes:

- 101 data tables and 108 additional tables
- Country specific data and analysis for United States, Canada, Mexico, U.K., Germany, France, Italy, Spain, Japan, China, India, South Korea, Australia, Middle East, Africa and Latin America
- Detailed description of innovative imaging modalities such as mammography and 3D ultrasonic holography
- Identification of research areas for biomedical imaging and applications of biophotonics and biomedical imaging in research
- Comparative study of focused ultrasound with an ideal surgical tool and study challenges that need to be addressed in global medical imaging instruments market to achieve fiscal succes
- Identification of various strategies adopted by market players to enhance their market position, including expansion, product launch, acquisition and merger, innovation, partnership and joint venture
- Company profiles of major players in the market, including Agfa Healthcare, Boston Scientific, Bruker Corp., Canon, Inc. and GE Healthcare

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