Medical Imaging Equipment Market by Product - Global Industry Analysis and Forecast to 2025

Medical Imaging Equipment Market Overview:

Over the past few decades, medical imaging has greatly revolutionized the healthcare industry. Medical imaging allows doctors to diagnose diseases at an early stage and drastically improve patient outcomes. Today, advanced medical imaging technologies deliver substantial benefits to the healthcare providers and the patients as well. Medical imaging assists physicians in better understanding the complications in the human body. The procedures are completely non-invasive, painless and majority of these procedures don’t require any special prior preparation. With the introduction of surgical C-arm machines for imaging, complicated surgeries have become highly feasible over the years. Such devices are used in orthopedic, cardiology, and traumatology for intra-operative imaging purposes.

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Medical imaging modalities can be classified into conventional X-ray examinations, computed tomography (CT), nuclear medicine imaging, ultrasound imaging and magnetic resonance imaging (MRI). The basic principle used in X-ray imaging is very much similar to ordinary photography. In normal photography, visible low energy light is used whereas in X-ray imaging high energy, invisible light is used. The extent of X-ray penetration in the human body depends upon the materials in the human body such as, bones, soft tissues, and air/gas. CT imaging is a rapid imaging process which combines the power of X-rays and advanced computers to generate cross sectional, 360 degree views. In nuclear imaging, unsealed radioactivity is used in order to create functional images. Ultrasound refers to sound waves with frequencies higher than 20,000 HZ which cannot be recognized by human ear. For most of the diagnostic purposes, the frequency range is maintained between 3.5 and 7 MHz. Different examination probes attached to the ultrasound equipment have different frequencies which can be used for imaging different organs and tissue structures. MRI imaging has crucial applications in examination of the central nervous system including the spinal cord as well as in examination of anatomical abnormalities such as congenital heart malformations.

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Some of the key factors driving the growth of medical imaging equipment market are the growing prevalence of target diseases (such as cardiac disorders and cancers) coupled with increased patient awareness about early diagnosis of diseases, rising incidence of accident related severe injuries, and technological advancements in medical imaging techniques. However, factors such as high costs of medical imaging equipment along with the risk of side effects associated with emitted radiations can hamper the growth of medical imaging equipment market.

The major players operating in the global medical imaging equipment market emphasize on product development facilitated by technological innovations along with strategic collaborations in order to gain competitive advantage in the market. For instance, in September 2016, GE Healthcare in collaboration with Trice Imaging, Inc. launched a cloud based solution, Tricefy. Tricefy allows clinicians to share medical imaging results with patients and remote colleagues.

Some of the key players operating in this market are, Hologic, Inc., Hitachi, Ltd., GE Healthcare, Samsung Medison Co., Ltd., Siemens Healthcare GmbH, Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Shimadzu Corporation, and Carestream Health, Inc.

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