Medical Imaging Market is projected to reach USD 59.3 billion by 2031 - GE Healthcare, Shimadzu Corporation, Toshiba Medical Systems Inc & Ziehm Imaging Inc.

The global medical imaging market was valued at USD 40.2 billion in 2022 and is projected to reach USD 59.3 billion by 2031. This growth represents a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2024 to 2031.

Medical imaging is a technique used to visualize the interior of the body for clinical analysis and medical intervention. It provides a visual representation of the function and structure of organs and tissues, helping in the diagnosis and monitoring of diseases, injuries, or the effectiveness of treatments. Different imaging technologies offer various types of information about the area being examined, allowing healthcare professionals to assess and address medical conditions effectively.

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Market Trends:

Increasing Product Launches of Medical Imaging Equipment is Expected to Boost Market Growth.

Medical imaging devices play a crucial role in diagnosing chronic conditions such as musculoskeletal disorders, cardiac diseases, cancers, and chronic lung diseases. Technological advancements by leading companies significantly drive market growth. Innovations and effective product launches are transforming research discoveries into new treatments, enhancing care for millions of individuals with chronic conditions.

For example, in July 2023, Konica Minolta Healthcare Americas, Inc. introduced the PocketPro H2, a wireless handheld ultrasound device designed for general imaging in point-of-care applications. This device is optimized for musculoskeletal (MSK), pain management, vascular access, and needle guidance, offering excellent image quality. Similarly, in May 2023, Philips launched the Zenition 10, a Mobile C-arm System designed to improve speed and efficiency in high patient throughput environments. This system accommodates the needs of trauma, orthopedics, and other surgical areas, further boosting the medical imaging market.

Market Segmentation:

By Product: X-ray, Computed Tomography, Positron Emission Tomography (PET), Ultrasound System, MRI Equipment, Nuclear Imaging, Tactile Imaging, Photoacoustic Imaging, Thermography, Elastography, Echocardiography.

By Applications: Cardiology, Orthopedics, Gastroenterology, Gynecology, Oncology, Neurology, Others.

By End User: Hospitals, Diagnostic Centers, Specialty Clinics.
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Major Key Players:

• Koninklijke Philips N.V
• GE Healthcare
• Shimadzu Corporation
• Toshiba Medical Systems Inc.
• Ziehm Imaging Inc.
• Varian Medical Systems
• Aribex Corporation
• Fujifilm Holdings Corporation
• Siemens Healthcare
• Hitachi Ltd.

Regional Analysis:

The global Medical Imaging Devices Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Medical Imaging Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Key Developments:

In May 2023, Claritas HealthTech announced a collaboration with PwC to deploy its medical imaging platforms. This partnership aims to facilitate the rollout, installation, and support of medical image enhancement and artificial intelligence (AI) diagnostic software products. By leveraging PwC's expertise, the collaboration enhances the capabilities and implementation of Claritas HealthTech's advanced imaging solutions, contributing to the advancement of diagnostic technologies in the healthcare sector.

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