The medical imaging market is projected to witness noteworthy revenue growth on account of constant innovations in medical sector and revolutionizing healthcare infrastructure. Increasing initiatives to improve and advance existing healthcare infrastructures could stimulate the demand for medical imaging systems. Rapidly expanding geriatric population base coupled with surging disease burden could broaden the industry horizon across developing as well as developed economies.
The ongoing COVID-19 pandemic has severely impacted businesses across the world. However, with the rising need for intensive care of these COVID-19 infected patients, the global market is likely to witness a major upsurge in the coming years, as medical imaging modalities can offer effective data on disease progression.
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The segmental growth can be attributed to the product efficiency as it consumes less time in scanning compared to other products. CT scan can take around 30 seconds to 5 minutes, while an MRI scan takes 15 minutes to 2 hours, depending on the body parts. Several other advantages include effective imagining of bones and soft tissues, short installation time for portable CT scanners, as well as minimal logistic issues.
With regards to the end-use spectrum, the hospital segment recorded a CAGR of over 5% through 2026, as a result of increasing adoption of accurate and efficient medical imaging devices in hospitals.
Asia Pacific medical imaging market size was estimated to be worth more than US$8.5 billion in 2019. The regional growth can be associated with a rising occurrence of chronic diseases. Asia Pacific countries have made substantial investments in the healthcare infrastructure and for adoption of advanced diagnostic imaging technologies.
The competitive landscape of the medical imaging market comprises of companies such as Siemens Healthineers, GE Healthcare, Fujifilm, Philips, Carestream Health, and Canon Medical Systems, among others. These firms are focusing on enhancing their market position by means of strategies including product launches and M&A.
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Partial Chapter of the Table of Content
Charts & Figures
FIG. 1 Medical Imaging Market estimation and forecast methodology
FIG. 2 Company share analysis, 2019
FIG. 3 Industry segmentation
FIG. 4 Global medical imaging market size, 2015 - 2026 (USD Million)
FIG. 5 Growth potential analysis, by product
FIG. 6 Growth potential analysis, by end-use
FIG. 7 Porter’s analysis
FIG. 8 PESTEL analysis
FIG. 9 Key segment trends, by product
FIG. 10 Key segment trends, by end-use
FIG. 11 Medical Imaging Market Key segment trends, by region
FIG. 12 Strategy dashboard
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