Westford, USA, Aug. 13, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Medical Imaging Market will attain a value of USD 60.0 billion by 2031, with a CAGR of 5.2% during the forecast period (2024-2031). With the increasing prevalence of chronic cardiovascular diseases and the restructuring of health care systems, there has been an increased emphasis on early detection. The Centers for Disease Control and Prevention (CDC) estimates that coronary artery disease (CAD) affects 18.2 million adults each year in the United States. Diagnostic imaging uses various imaging techniques to obtain visual images of the body for diagnosis and treatment. This includes various forms of capturing images of the human body for diagnosis and treatment, and thus play an important role in improving overall health. 350 million tests are done for pediatric patients. This, coupled with the increasing emphasis by government agencies on early detection to control healthcare costs, is influencing the number of patients undergoing x-ray, magnetic resonance and computed tomography scans worldwide.
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Browse in-depth TOC on " Medical Imaging Market "
- Pages – 157
- Tables - 96
- Figures – 77
Medical Imaging Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 40 billion |
| Estimated Value by 2031 | USD 60.0 billion |
| Growth Rate | Poised to grow at a CAGR of 5.2% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing Emphasis of Government Organizations on Early Disease Diagnosis |
| Key Market Drivers | Rising Prevalence of Chronic Diseases |
MRI Segment to Dominate Due to Increased Field Power
MRI provides detailed and versatile soft tissue imaging, making muscle, musculoskeletal, and gastrointestinal imaging important. As a non-ionizing imaging modality, MRI has a better safety profile, especially for repeat imaging and imaging in vulnerable populations. Continuous advances in MRI technology, including increased field power and functional imaging capabilities, contribute to its continued dominance.
Ultrasound Equipment Segment to Drive Market Due to Increased Demand for Advanced Equipment
The ultrasound equipment segment which has contributed to the global demand for ray equipment is expected to grow at a substantial CAGR during the forecast period. Due to unmet needs and increased demand for advanced equipment for healthcare systems worldwide, new ergonomic devices with clinical control such as portable ultrasounds are being introduced to the market.
North America is Dominating Due to Increasing Number of Patients
North America is expected to be the dominating region. Increasing number of patients receiving diagnostic imaging in the country is driving the growth of the medical imaging market in this region. Rapid adoption of new imaging techniques in the United States and Canada and continued R&D activities contribute to the company’s market leadership.
Asia Pacific is expected to grow significantly during the forecast period due to diagnostic devices a due to increasing growth and demand. Furthermore, the highly installed and aging camera market in Asia-Pacific is presenting an attractive opportunity for market players.
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Drivers
- Rising Prevalence of Chronic Diseases
- Growing Number of Diagnostic Imaging Procedures
Restraints
- Less Adoption of Advanced Imaging Equipment Limits the Growth
- Hospital's Selective Behavior
Prominent Players in Medical Imaging Market
The following are the Top Medical Imaging Companies
- Fujifilm Holdings Corporation
- Shimadzu Corporation
- Carestream Health
- Hitachi Medical Systems
- Samsung Medison
- Esaote S.p.A.
- Agfa-Gevaert Group
- Mindray Medical International Limited
- Koninklijke Philips N.V.
- Toshiba Medical Systems Corporation
- Ziehm Imaging GmbH
- Varian Medical Systems
- Curium Pharma
- Bracco Imaging S.p.A.
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Key Questions Answered in Medical Imaging Market Report
- How big is the Global Medical Imaging Market?
- What are the key drivers of Global Medical Imaging Market size?
- Who are the key players in the Global Medical Imaging Market?
- Which is the fastest growing region in the Global Medical Imaging Market?
This report provides the following insights:
- Analysis of key drivers (rising prevalence of chronic diseases, growing number of diagnostic imaging procedures), restraints (less adoption of advanced imaging equipment limits the growth), opportunities (introduction of technologically advanced imaging equipment), influencing the growth of Medical Imaging Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Medical Imaging Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Medical Imaging Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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