Medical Imaging Systems Market Report

Market Insights

The Global Medical Imaging Systems Market is estimated to grow from USD 20.1 billion in 2020 to USD 27.2 billion by 2026 at a healthy CAGR of 5.2% during the forecast period.

Figure: Global Medical Imaging Systems Market Size, 2020-2026 (USD Billion)

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What is Medical imaging system?

Medical imaging is defined as a technique that is used to create images of parts of the human body for various treatment and diagnostic purposes. Some of the commonly used medical imaging devices include X-ray devices, computed tomography scanners (CT), magnetic resonance imaging equipment (MRI), ultrasound imaging systems, and nuclear imaging systems among others.

Key Players

The key players operating in the global Medical Imaging Systems market are-

• Analogic Corporation (The U.S),
• Carestream Health (The U.S),
• Siemens AG (Germany),
• Canon Medical Systems Corporation (Japan),
• Esaote S.p.A (Italy),
• General Electric Company (The U.S),
• Hitachi Ltd (Japan),
• FUJIFILM Holdings Corporation (Japan),
• Medtronic PLC (Ireland), Hologic, Inc. (The U.S),
• Samsung (South Korea),
• Koninklijke Philips N.V. (Netherlands), and
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China).

Market Dynamics

The global market growth is primarily driven by increased demand for techniques or processes that help to diagnose chronic diseases at an early stage.

• Expanding geriatric populace coupled with increased spending on healthcare is projected to propel the market growth at a significant rate.
• Growing emphasis on the inclusion of artificial intelligence and augmented reality in medical imaging devices is the prominent trend noticed in the global market.
• High product cost is likely to hamper the market growth during the review period.

Segment Analysis

End User Trends

Based on end-user, the market has been divided into hospitals, diagnostic imaging centres, and others.

• The hospitals' segment accounted for the largest share of more than 40% in 2020 on account of the high demand for advanced imaging modalities across geographies.
• Additionally, increasing spending on healthcare infrastructure development is likely to fuel the product demand at a significant rate during the review period.

Regional Trends

The market in North America accounted for largest share of approximately 30% in 2020 due to presence of key market players such as Analogic Corporation (The U.S) & Carestream Health (The U.S) and high demand for advanced medical imaging systems.

The market in Asia-Pacific region is projected to register healthy growth rate on account of increasing government support to use technologically advanced medical imaging devices for early diagnosis and treatment of diseases.

COVID-19 Impact on Global Medical Imaging Systems Market

Amid the covid-19 outbreak, the number of portable x-rays conducted increased due to a surge in covid-19 cases across geographies. Additionally, the demand for imaging devices increased to image patients inside and outside is healthcare facilities. In April, the U.S. Food and Drug Administration (FDA) imposed guidance to provide a policy to expand the capability and availability of various medical imaging systems such as ultrasound, medical X-ray, and magnetic resonance imaging (MRI) systems used to diagnose and monitor medical conditions.

Critical Questions Answered in the report -

• What are the key trends in the global medical imaging systems market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on global medical imaging systems market?
• What are the key strategies adopted by the major vendors to lead in the global medical imaging systems market?
• What is the market share of the top vendors?

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Target Audience

The following is a list of the customers that the Global Medical Imaging Systems market aims to convert the most:

• Medical imaging systems distributors
• Medical imaging systems suppliers
• Medical imaging systems manufacturers
• Logistics organizations
• Government Bodies

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