Market Overview

By 2030, it is expected that the medical imaging market companies would grow at a robust CAGR of around 7.10 % and reach USD 64,994.14 million.

The field of medicine known as medical imaging, or radiology, involves reconstructing multiple images of bodily components for diagnostic or therapeutic purposes. Non-invasive tests are part of the medical imaging process, which enables doctors to make non-intrusive diagnoses of illnesses and injuries. In recent years, there has been a significant increase in the global market for medical imaging.

Additionally, the market's growth is anticipated to be boosted by variables including the rise in market participants' agreements to combine their efficiencies and ongoing technology improvements in the healthcare industry. On the other side, it is projected that the market's expansion will be constrained by the shortage of funds needed to purchase premium imaging systems. However, the increasing number of product launches will probably present gamers from all over the world with attractive prospects.

The monitoring frequency rate of chronic illnesses, particularly COVID-19, is principally responsible for the market's expansion. Additionally, it is projected that the growth of suppliers and manufacturers of medical imaging systems will increase demand.

Market Segment

By Product

The medical imaging market is divided into six product categories based on technology: X-ray machines, MRI, ultrasound, computed tomography, nuclear imaging, and mammography. The two types of X-ray machines are digital and analogue. In 2021, the market share for X-ray devices was approximately 32.2%. This is a result of hospitals and diagnostic facilities using X-rays more frequently. X-rays are perfect for quick diagnosis and treatment planning since they are non-invasive, painless, and time-efficient.

By Technique

Healthcare disciplines frequently employ medical imaging tools to diagnose illness problems and support therapy recommendations.

By Application

During the projected period, it is anticipated that the cardiology segment would considerably contribute to the growth of the worldwide medical imaging market.

By End User

In the near future, it is predicted that clinics and hospitals would significantly boost demand for medical imaging devices worldwide.

Regional Analysis

The regional medical imaging market in the Americas can be attributed to increasing developments in sophisticated diagnostic tools and increased patient awareness. During the forecast period, it is anticipated that the clearly defined funding for research and development projects, along with targeted oncology research initiatives and grants from government healthcare agencies in the U.S. medical imaging diagnostic equipment market and Canada, will support the dominance of the Americas medical imaging market.

Due to the sharp increase in cancer cases in European countries, which is spurring demand for medical imaging equipment throughout the course of the projected period, Europe is the next market for medical imaging. This is strengthening the market in the European area.

The use of advanced medical imaging systems is predicted to accelerate technological advancements, expand the patient pool, and support the growth of the Asia Pacific medical imaging market.

The prominent players in the Medical Imaging Market are

Siemens AG (Germany),,Analogic Corporation (U.S.),,Canon Medical Systems Corporation (Japan),,Carestream Health (U.S.),,CMR Naviscan (U.S.),,General Electric Company (U.S.),,Esaote S.p.A (Italy),,FUJIFILM Holdings Corporation (Japan),,Hitachi Ltd (Japan),,Hologic, Inc. (U.S.),,Medtronic PLC (Ireland),,Samsung (South Korea).

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