Medical Imaging Informatics Market Expected to Reach $4.8 Billion by 2030

Medical imaging informatics market size was valued at $2.6 billion in 2020, and is estimated to reach $4.8 billion by 2030, growing at a CAGR of 6.2% from 2021 to 2030. The medical imaging informatics market forecast from 2020 to 2030. The major factors that boost the growth of the global medical imaging informatics industry include increase in number of diagnostic imaging procedures, high prevalence of chronic diseases, decline in cost of storage platforms, and improvements in healthcare ecosystem. In addition, the developing countries such as China and India are expected to provide huge growth opportunities for the medical imaging informatics market. However, lack of expertise to operate medical imaging informatics solutions and their high installation cost of hamper the market growth.

List of Key Players
General Electric Company, Dell Technologies Inc., Siemens AG, Medtronic, Inc., lexmark international, inc., toshiba corporation, Agfa Gevaert N.V., Koninklijke Philips N.V., McKesson Corporation, Esaote SpA

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The global medical imaging informatics market size is segmented into component, application, deployment, end user, and region. On the basis of component, the market is fragmented into software, hardware and services. In 2020, the software segment accounted for the largest share of 61.3% of the overall medical imaging informatics market.

Depending on application, the medical imaging informatics market analysis is categorized into digital radiography, ultrasound, MRI, CT, nuclear imaging, combined modality, and mammography. The ultrasound segment held the largest medical imaging informatics market share of 31.0% of the medical imaging informatics market in 2020, owing to frequent use of ultrasound in healthcare facilities for medical imaging procedures.

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By deployment mode, the medical imaging informatics market is bifurcated in standalone and integrated. The standalone segment garnered the largest market share of 63.0% in 2020.

As per end user, the market is differentiated into hospital, specialty clinics, and others. The hospitals segment dominated the market in 2020.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America exhibited the highest growth in 2020, owing to improvement in healthcare infrastructures and rise in expenditure in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for market growth.

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