Medical Imaging Market is anticipated to grow up to USD 55.1 billion, at a CAGR of 3.7% during the forecast period 2022-2031

The global medical power supply market was valued at USD 38.4 billion in 2021 and it is anticipated to grow up to USD 55.1 billion by 2031, at a CAGR of 3.7% during the forecast period.

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Medical imaging forms an important component of healthcare industry for better diagnosis and treatment planning. Medical imaging techniques such as an ultrasound, X-ray, MRI, and CT scans help to visualize body organs internally allowing better care for the patients. Medical imaging, also known as radiology, is the field of medicine in which medical professionals recreate various images of parts of the body for diagnostic or treatment purposes. Medical imaging procedures include non-invasive tests that allow doctors to diagnose injuries and diseases without being intrusive.

Market Trends and Drivers

Rising healthcare expenditure in developed as well as developing countries surge the demand for medical imaging. All these factors together will drive the medical imaging industry over the forecast period. Furthermore, increasing R&D activities coupled with rising healthcare infrastructure and adaptation of innovative medical imaging modalities are expected to drive market growth over the forthcoming years.

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Growing incidence of chronic diseases especially in geriatric population increases the demand for medical imaging in hospitals and diagnostic centers. Several technological advancements and innovations increase the reliability of medical imaging thereby increasing its demand in healthcare.

COVID-19 Impact:

The COVID-19 pandemic had a substantial impact on the medical imaging market. The medical imaging industry witness significant growth during the COVID-19 pandemic owing to the usefulness of medical imaging in the diagnosis and treatment guidance of severe COVID-19 infections. Medical imaging procedures are also used in the management of patients post COVID-19. Chest X-rays, ultrasound and CT are commonly used to gauge the severity of COVID-19 infections and detect spread of disease in the lungs. These factors help to surge the global market demand.

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Global Medical Imaging Market Segmentation

By Product
• X-Ray Devices
o Digital
o Analog
• Magnetic Resonance Imaging (MRI)
• Ultrasound
o 2D Ultrasound
o 3D Ultrasound
o Others
• Computed Tomography
• Nuclear Imaging
• Mammography

By End-use
• Hospitals
• Diagnostic Centers
• Others

Major Players in the Global Medical Imaging Market:

The key players in the medical power supply market are Siemens Healthineers, Canon Medical System Corporation, Samsung Medison, Koninklijke Philips, Carestream Health, Fujifilm, Esaote, GE Healthcare, Hologic, and Konica Minolta, among others.

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This release was published on openPR.