Medical Imaging Market May See a Big Move with an Opportunity of US$ 33,002.52 Million by 2028

According to our latest research study on "Medical Imaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product and End User," the market was valued at US$ 23,901.88 million in 2020 and it is projected to reach US$ 33,002.52 million by 2028; it is expected to grow at a CAGR of 4.3% during 2021-2028. The report highlights trends prevailing in the market and the factors driving and restraining the market growth.

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The growth of the global medical imaging market is attributed to key driving factors such as increasing demand for early disease diagnosis and widening scope of clinical applications, rapidly growing geriatric population and the subsequent increase in the prevalence of associated diseases, technological advancements in diagnostic imaging industry, and increasing investments, funds, and grants by public-private organizations.

Medical Imaging Market: Competitive Landscape and Key Developments: General Electric Company; Siemens AG; Koninklijke Philips N.V.; SHIMADZU CORPORATION; Hitachi, Ltd.; Canon Inc.; Hologic, Inc.; Carestream Health Inc.; ESAOTE SP; and Samsung Group are among the major companies operating in the global medical imaging market.

Based on product, the global medical imaging market is segmented into CT systems, X-ray systems, PET systems, MRI systems, ultrasound systems, and others. The X-ray segment held the largest share of the market in 2020 and is also anticipated to register the highest CAGR in the market during the forecast period.

Impact of COVID-19 Pandemic on Medical Imaging Market
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of December 2020, the US, India, Brazil, Russia, France, the UK, Italy, Spain, Germany, Colombia, Argentina, and Mexico are among the most affected countries in terms of COVID-19 confirmed cases and reported deaths. According to the latest WHO figures, there are ~81,159,096 confirmed cases and 1,791,246 total deaths across the world. The pandemic is adversely affecting various industries across the world due to lockdowns, travel bans, and business shutdowns.

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