Advancements in Medical Imaging Technology Enhance Diagnostic Precision for Improved Patient Care and Treatment

The global medical imaging market encompasses a vast industry focused on creating and utilizing advanced technologies for visualizing the interior of the human body. This includes various modalities such as X-ray, MRI, CT scans, and ultrasound. The market revolves around the development, manufacturing, and distribution of these imaging devices and associated software. It plays a crucial role in diagnostic medicine, aiding healthcare professionals in detecting and monitoring diseases.

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Data Bridge Market Research analyses that the Global Medical Imaging Market, valued at USD 21.24 billion in 2022, will reach USD 33.08 billion by 2030, growing at a CAGR of 5.69% during the forecast period of 2023 to 2030.  The surge in minimally invasive surgeries, facilitated by medical imaging techniques, propels the demand for advanced imaging technologies such as fluoroscopy, ultrasound, and endoscopy. These tools enable precise visualization, contributing to the success and widespread adoption of less invasive medical procedures across diverse healthcare disciplines.

Key Findings of the Study

Increasing demand for advanced diagnostic imaging is expected to drive the market's growth rate

The demand for advanced diagnostic imaging is on the rise as imaging techniques play a crucial role in detecting structural abnormalities and pathological changes, especially in cases of frequent traumatic injuries. These techniques unveil subtle changes imperceptible to the human eye. An advanced diagnostic system facilitates precise diagnoses, aiding in optimal treatment decisions. The expanding market is notably driven by the increasing number of cancer patients who necessitate sophisticated imaging reagents and techniques, such as photoacoustic imaging, for enhanced precision in diagnosis.

Report Scope and Market Segmentation

Segment Analysis:

The global medical imaging market is segmented on the basis of procedures, technology, modality, patient age, application, and end users.

• On the basis of procedures, the global medical imaging market is segmented into x-ray imaging, computed tomography (CT) scan, magnetic resonance imaging (MRI), ultrasound, nuclear imaging (SPECT/PET), mammography, molecular imaging, and others
• On the basis of technology, the global medical imaging market is segmented into direct digital radiology, and computed radiology
• On the basis of modality, the global medical imaging market is segmented into stationary, and portable
• On the basis of patient age, the global medical imaging market is segmented into adults, and pediatric
• On the basis of application, the global medical imaging market is segmented into general imaging, thoracic, cardiology, obstetrics, orthopaedics and musculoskeletal, neuro and spine, pelvic and abdominal, oncology, radiography, fluoroscopy, gynaecology, urology, musculoskeletal, dental, and others
• On the basis of end users, the global medical imaging market is segmented into hospitals, diagnostic centers, imaging centers, specialty clinics, ambulatory surgical centers, academic and research institutes, and others

Major Players

Data Bridge Market Research recognizes the following companies as the major global medical imaging market players in global medical imaging market are CANON MEDICAL SYSTEMS CORPORATION (Japan), ZEISS (Germany), FUJIFILM Corporation (Japan), Hitachi, Ltd. (Japan), Carestream Health (U.S.), UNILABS (Switzerland), ONRAD, Inc. (U.S.), Narang Medical Limited (India), Johnson & Johnson Services, Inc (U.S.), BD (U.S.)

Market Developments

• In 2022, Canon Medical Systems announced the acquisition of Nordisk Rontgen Teknik, a renowned manufacturer of diagnostic X-Ray systems. This strategic move enhances Nordisk Rontgen Teknik's global presence in the X-ray industry, leveraging Canon Medical Systems' expertise and resources
• In 2022, Siemens Healthineers unveiled its cutting-edge medical imaging technology with the MANGETOM free star in MRI and NAETOM alpha in CT pipelines at the 74th National Conference IRIA 2022 in Bengaluru. These innovative products showcased at the event contributed to the expansion of Siemens Healthineers' customer base by offering state-of-the-art solutions in the field of magnetic resonance imaging (MRI) and computed tomography (CT)
• In 2021, GE Healthcare introduced the Vscan AirTM pocket ultrasound, a wireless and advanced imaging solution. This state-of-the-art device provided doctors with exceptional image quality, comprehensive whole-body scanning capabilities, and user-friendly software. The wireless nature of Vscan AirTM added flexibility to medical professionals, empowering them with a portable and efficient ultrasound system for enhanced patient care and diagnostics
• In 2021, Esaote North America expanded the availability of its MyLab X8 Ultrasound System to Canada. This premium imaging system incorporated the latest technological advancements, delivering high-quality images without compromising productivity. Having received FDA approval in the United States, the MyLab X8 offered a comprehensive set of features, making it a valuable tool for medical professionals in Canada seeking advanced ultrasound capabilities for diagnostic purposes

Regional Analysis

Geographically, the countries covered in the global medical imaging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in the global medical imaging market during the forecast period 2023-2030

North America dominates the global medical imaging market and is poised to sustain this dominance throughout the forecast period. This is primarily attributed to evolving consumer preferences and expanding spending patterns. Anticipated improvements and growth in production industries further contribute to the region's dominance, specifically fostering advancements in the rubber compound industry within the medical imaging sector. This trend underscores North America's pivotal role in shaping and driving the ongoing flourishing trajectory of the global medical imaging market.

Asia-Pacific is estimated to be the fastest-growing region in the global medical imaging market during the forecast period 2023-2030

Asia-Pacific is expected to dominate the global medical imaging market with the highest growth rate, attributed to the burgeoning number of businesses in emerging nations. The rising demand for diagnostics in clinics, hospitals, and various industries fuels this growth. Notably, China and India witnessed a surge in hospitals and clinical diagnostic labs, coupled with increased healthcare spending, leading to a heightened demand for medical imaging technologies in the region during the forecast period.

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