Medical/Diagnostic Imaging Market Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2027
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The major factors boosting the market growth include technological advancements, rising incidence of chronic diseases, and increasing geriatric population worldwide. In addition, increase in number of medical imaging procedures, and rising awareness for early diagnosis of clinical disorders are anticipated to further drive the demand for healthcare services in the world medical imaging market. However, scarcity of helium, high cost of imaging technologies, and unfavorable reimbursement scenario in the emerging economies are some of the factors restricting the market growth.
The cardiovascular and thoracic disease application segment is projected to maintain its lead throughout the analysis period owing to increase in the number of medical imaging services and technological advancements. In addition, technological innovations in the imaging industry have facilitated the development of cost-effective and smaller point-of-care ultrasound systems for cardiac evaluation. Mammography systems has emerged as the fastest growing segment, registering a CAGR of 8.3%, in terms of revenue, during the forecast period. Innovation and digitalization of mammography devices are the major factors contributing to this segments growth.
Geographically, the Asia-Pacific region accounted for the majority of the share in the medical/diagnostic imaging market in 2015, and is expected to maintain this lead throughout the forecast period. This is mainly attributed to the improving healthcare infrastructure and healthcare expenditures in the emerging markets (such as India and China) to overcome the unmet medical needs in these countries. However, LAMEA is projected to be the fastest growing region throughout the analysis period. Increasing incidence of chronic disorders (such as heart disease, cancer, and diabetes) and rapidly growing geriatric population drive the LAMEA medical/diagnostic imaging market.
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Key findings of the study:
In 2015, X-ray imaging systems was the highest revenue-generating segment, accounting more than one-fourth of the overall market revenue, and is projected to grow at a CAGR of 3.7% during the forecast period.
The mammography systems segment is expected to grow at a remarkable CAGR of 8.3%, owing to the innovation and digitalization of mammography devices.
Asia-Pacific accounted for about one-third share of the world medical imaging market in 2015.
The cardiovascular and thoracic application segment is projected to maintain its lead in the market until 2022.
China and Japan are the major shareholders in the Asia-Pacific region, jointly accounting for more than 50% share of the Asia-Pacific medical imaging market.
The key players profiled in this report include GE Healthcare, Philips Healthcare, Hitachi Medical Corporation, Hologic, Inc., Siemens Healthcare, Samsung Medison, Shimadzu Corporation,
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