Asia-Pacific Medical Imaging Market, By Type (Services, Product), Modality (Stationary, Portable), Procedure (Computed Tomography (CT) Scan, X-Ray Imaging, Magnetic Resonance Imaging (MRI), Ultrasound, Nuclear Imaging (SPECT/PET), Others), Technology (Direct Digital Radiology, Computed Radiology), Patient Age (Adults, Pediatric), Application (Cardiology, Pelvic And Abdominal, Oncology, Mammography, Gynecology, Neurology, Urology, Musculoskeletal, Dental, Others), End Users (Hospitals, Diagnostic Centers, Imaging Centers, Specialty Clinics, Ambulatory Surgical Centers, Academic and Research Institutes, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Medical imaging refers to the techniques and processes used to make images of the human body (or parts of it) for a variety of clinical applications, including medical operations and diagnosis, as well as medical science, which includes the study of normal anatomy and function. It is a subset of biological imaging that includes radiography, endoscopy, thermography, medical photography, and microscopy in a broader sense. Measurement and recording techniques such as electroencephalography (EEG) and magnetoencephalography (MEG) are examples of medical imaging since they create data that can be represented as maps rather than images.
Data Bridge Market Research analyses that the medical imaging market which was USD 20.1 billion in 2021, would rocket up to USD 30.85 billion by 2029, and is expected to undergo a CAGR of 5.50% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Services, Product), Modality (Stationary, Portable), Procedure (Computed Tomography (CT) Scan, X-Ray Imaging, Magnetic Resonance Imaging (MRI), Ultrasound, Nuclear Imaging (SPECT/PET), Others), Technology (Direct Digital Radiology, Computed Radiology), Patient Age (Adults, Pediatric), Application (Cardiology, Pelvic And Abdominal, Oncology, Mammography, Gynecology, Neurology, Urology, Musculoskeletal, Dental, Others), End Users (Hospitals, Diagnostic Centers, Imaging Centers, Specialty Clinics, Ambulatory Surgical Centers, Academic and Research Institutes, Others)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Koninklijke Philips N.V. (Netherlands), RamSoft, Inc.(Canada), InHealth Group (U.K), Radiology Reports online (U.S), Siemens (Germany), Sonic Healthcare Limited ( Australia), RadNet, Inc. (U.S), General Electric (U.S), Akumin Inc. (U.S), Hologic Inc. (U.S), Shimadzu Corporation (Japan), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), CANON MEDICAL SYSTEMS CORPORATION (Japan), Carl Zeiss Ag (Germany), FUJIFILM Corporation (Japan), Hitachi, Ltd. (Japan), MEDNAX Services, Inc. (U.S), Carestream Health (U.S), Teleradiology Solutions (U.S), UNILABS (Switzerland), ONRAD, Inc. (U.S)
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Market Opportunities
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Market Definition
Medical imaging is a technique for generating diverse inside images of the body for disease diagnosis and therapy. This technique is mostly important in improving people's health around the world since it can aid in the early detection of certain inside ailments and the proper treatment of those disorders. It's also possible to look into what has already been diagnosed and treated.
Medical Imaging Market Dynamics
Drivers
- Increasing demand for innovative imaging modalities
The industry is being driven by the integration of surgical suits with imaging technology. However, the number of new hospitals in Asia Pacific developing countries has increased dramatically. The entry of global healthcare service providers is to blame for this. Private players dominate the healthcare sector in these countries. Imaging modalities are usually given specific space in new hospitals. In the future years, rising competition and increased demand for world-class healthcare services are likely to drive segment expansion.
- Increase in cases of chronic diseases
The Asia-Pacific medical imaging reagents market is driven by factors such as cancer and cardiovascular illnesses, technical developments, medical imaging reagent development, and high unmet medical and diagnostic imaging procedure demands. Cardiovascular disorders, for example, are one of the main causes of death worldwide. Furthermore, because elderly people are more likely to develop chronic diseases, the increasing growth of the geriatric population is predicted to raise demand for medical imaging reagents.
- Development in demand for medical imaging reagents
The rising number of cancer patients who require advanced diagnostic imaging techniques such as photoacoustic imaging and imaging reagents for better diagnosis also adds to market expansion. Furthermore, the growing elderly population, rising healthcare spending, and rising demand for effective procedures and safe drugs are likely to drive the medical imaging reagents market forward.
Opportunities
Technological advancements, when combined with government investments and money, are anticipated to contribute to market expansion, particularly in developing countries like India and China. In January 2020, Allengers, for example, unveiled India's first locally built 32 slice CT scanner. Canon Medical Systems assisted in the creation of the system.
Teaching, hospitals and universities are predicted to increase their need for state-of-the-art imaging modalities in order to provide advanced technology training, which will have a substantial impact on market growth in the future years. This trend, which was previously limited to rich countries, is increasingly spreading to developing countries. For example, the sole certified 7T Magnetic Resonance Imaging (MRI) equipment, Siemens Healthineers' MAGNETOM Terra, has only been installed in the United States.
Restraints/Challenges
However, the market's expansion is likely to be hampered by a shortage of experienced medical personnel, expensive equipment costs, a lack of imaging reagent providers, and rigorous government regulations.
This medical imaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical imaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Medical Imaging Market
Researchers from the University of California at Los Angeles (UCLA) and the University of Southern California (USC) are developing Magnetic Resonance Imaging (MRI) suits that can greatly reduce any transmission risks to radiologists, operators, and patients, according to a letter published in the Journal of the American College of Radiology. The need for imaging modalities is likely to rise as the necessity for periodic chest imaging to monitor the long-term effects of COVID grows, particularly in primary health facilities. As a result, the limited availability of medical care for illnesses other than COVID-19 has had a negative influence on the amount of medical imaging procedures performed globally. Another key aspect that has a negative impact on the medical imaging reagents market is the limited availability of healthcare personnel around the world. Furthermore, medical imaging for disease problems that are not urgent and may be postponed, such as cancer, has had a detrimental impact on the industry.
Recent Development
- In March 2021, Vscan AirTM is a cutting-edge, wireless pocket-sized ultrasound from GE Healthcare that provides doctors with crystal clear image quality, whole-body scanning capabilities, and intuitive software.
- In Jan 2021, In Canada, Esaote North America has released the MyLab X8 Ultrasound System. MyLab X8 is a fully featured premium imaging system that integrates the newest technologies and delivers greater image quality without compromising workflow or efficiency. It was previously authorised by the FDA in the United States.
Asia-Pacific Medical Imaging Market Scope
The medical imaging market is segmented on the basis of type, modality, procedure, technology, patient age, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Services
- Product
Modality
- Stationary
- Portable
Procedure
- Computed Tomography (CT) Scan
- X-Ray Imaging
- Magnetic Resonance Imaging (MRI)
- Ultrasound, Nuclear Imaging (SPECT/PET)
- Others
Technology
- Direct Digital Radiology
- Computed Radiology
Patient Age
- Adults
- Pediatric
Application
- Cardiology
- Pelvic And Abdominal
- Oncology
- Mammography
- Gynecology
- Neurology
- Urology
- Musculoskeletal
- Dental
- Others
End Users
- Hospitals
- Diagnostic Centers
- Imaging Centers
- Specialty Clinics
- Ambulatory Surgical Centers
- Academic and Research Institutes
- Others
Medical Imaging Market Regional Analysis/Insights
The medical imaging market is analysed and market size insights and trends are provided by country, type, modality, procedure, technology, patient age, application and end-user as referenced above.
The countries covered in the medical imaging market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Asia-Pacific is growing with the highest growth rate, due to the increasing number of geriatrics and increased health care spending. Because of the country's advanced healthcare infrastructure, the Japan medical imaging industry is dominating. Medical imaging services are in high demand in Japan due to the country's ageing population and chronic diseases.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The medical imaging market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical imaging market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical imaging market. The data is available for historic period 2010-2020.
Competitive Landscape and Medical Imaging Market Share Analysis
The medical imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical imaging market.
Some of the major players operating in the medical imaging market are:
- Koninklijke Philips N.V. (Netherlands)
- RamSoft, Inc.(Canada)
- InHealth Group (U.K)
- Radiology Reports online (U.S)
- Siemens (Germany)
- Sonic Healthcare Limited (Australia)
- RadNet, Inc. (U.S)
- General Electric (U.S)
- Akumin Inc. (U.S)
- Hologic Inc. (U.S)
- Shimadzu Corporation (Japan)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Carl Zeiss Ag (Germany)
- FUJIFILM Corporation (Japan)
- Hitachi, Ltd. (Japan)
- MEDNAX Services, Inc. (U.S),
- Carestream Health (U.S)
- Teleradiology Solutions (U.S)
- UNILABS (Switzerland)
- ONRAD, Inc. (U.S)
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