The Medical Imaging Instrument Market is segmented by Modality (MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Others), Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), End-Use (Hospital, Diagnostic Centers, Others) and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
The Medical Imaging Instrument Market is segmented by Modality ...
The Medical Imaging Instrument Market is estimated to grow from USD 15.8 billion in 2020 to USD 21.4 billion by 2026 at a healthy CAGR of 5.3% during the forecast period.
Medical imaging instrument refers to the use of different imaging modalities to get visual representations of the interior of a body for therapeutic and diagnostic purposes. Medical imaging includes different types of modalities that are used to image the human body for diagnosis and treatment of a variety of diseases, and thus plays a key role in improving health.
Key Players
Key players operating in the medical imaging instrument market are-
The rising prevalence of various diseases, demographics shift, and increasing awareness for disease detection & diagnosis are some of the key factors augmenting the market growth. As per WHO, between 2015 and 2050, the percentage of the world’s population over 60 years is likely to double from around 12% to 22%. The speed of the aging population is anticipated much faster in the future decades. All countries will be witnessing major challenges to ensure their health thereby creating a lucrative opportunity for the industry players.
COVID-19 Impact
The COVID-19 outbreak positively influenced the growth of the medical imaging instrument market. Portable CT and X-ray systems witnessed high demand during 2020 for faster assessment of COVID-19. Ultrasound devices were extensively used to differentiate COVID-19 and other respiratory diseases. The rising need for frequent chest imaging to monitor the long-term effects of COVID is likely to spur the demand for imaging modalities, especially in primary health centers.
The market has been classified into MRI, computed tomography, ultrasound, X-ray, nuclear imaging, and others. The ultrasound segment accounted for a substantial market share in 2020. This is mainly attributed to the increasing number of ultrasound applications. Recent innovations of advanced ultrasound transducers have opened new opportunities for ultrasound devices into biomedical & cardiovascular imaging. In addition, a strong focus on the development of portable ultrasound devices is anticipated to expand the applications of this modality in ambulatory as well as emergency care.
Regional Analysis
The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the large presence of advanced healthcare infrastructure as well as the presence of major market participants. In addition, the rising adoption of advanced, high-priced medical imaging modalities because of the factors, such as high patient awareness and favorable reimbursement scenarios, further proliferates regional growth.
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Target Audience
Here is the list of the group of customers that the medical imaging instrument market hopes to have the greatest opportunity to convert-
Distributors
Suppliers
Manufacturers
Logistics organizations
Government bodies
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Medical Imaging Instrument Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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GE Healthcare (US), Shimadzu Corporation (Japan), Philips Healthcare (Netherlands), Genesis Medical Imaging inc. (US), Hologic Inc. (US), Siemens Healthcare (Germany), Samsung Medison Co. Ltd (South Korea), Carestream Health Inc. (US), Hitachi Medical Corporation (Japan), and Fu-jifilm Holdings Corporation (Japan) are among the key players in the medical imaging instrument market.
