Medical/Diagnostic Imaging Market to Worth $68.8 Billion, Globally, by 2030 at 5.8% CAGR from 2021 to 2030.

Key Takeaways:

The X-ray imaging systems segment is expected to witness the highest CAGR of 6.5% from 2021 to 2030.

The breast health segment is estimated to manifest the fastest CAGR of 6.8% from 2021 to 2030.

North America held the highest share in 2020, accounting for around one-third of the total market share, and is expected to continue its dominance in terms of revenue by 2030.

Asia-Pacific is estimated to portray the largest CAGR of 6.5% during the forecast period.

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According to the report published by Allied Market Research, the global medical/diagnostic imaging market garnered $38.5 billion in 2020, and is expected to reach $68.8 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030.

Rise in need for the point-of-care imaging system, increased demand for enhanced optical images for improved diagnosis of diseases and disorders, and rise in incidence of chronic diseases drive the growth of the global medical/diagnostic imaging market. However, high cost of diagnostic/medical imaging devices and unfavorable reimbursement scenarios restrain the market growth. On the other hand, rise in number of key players that aim to develop innovative technology and increase in R&D activities in imaging technologies present new opportunities in the coming years.

Alarming rise in prevalence of chronic diseases, surge in number of hospitals, and advancement in imaging technology are expected to notably contribute toward the growth of the global medical/diagnostic imaging market during the forecast period.

Factors that drive the growth of the medical/diagnostic imaging market analysis include rise in number of hospitals and increase in prevalence of pneumonia. According to World Health Organization (WHO), in 2019, it was reported that pneumonia killed 740, 180 children under the age of 5, accounting for 14% of all deaths of children under five years old. Furthermore, increase in R&D activity in 3D medical imaging technology contribute in the medical imaging market growth. In addition, the increase in need for medical imaging surge the growth of medical imaging market.

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Medical/Diagnostic Imaging Market Segments:

By Product Type:

CT Scanners
X ray Imaging Systems
MRI Systems
Ultrasound Imaging Systems
Nuclear Imaging Systems
Mammography Systems

By Application:

Obstetrics and Gynecology Health
Orthopedics and Musculoskeletal
Neuro and Spine
Cardiovascular and Thoracic
General Imaging
Breast Health
Others

By Region:

North America (U.S., Canada, Mexico)
Europe (Germany, France, United Kingdom, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

By Key Market Players:

CANON INC.
Carestream Health, Inc
Esaote SpA
General Electric Company
Hitachi Ltd
Hologic, Inc.
Koninklijke Philips N.V.
Materialise NV
planmeca oy
Siemens AG

Regional Analysis:

North America held the highest share in 2020, accounting for around one-third of the total market share, and is expected to continue its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 6.5% during the forecast period.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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