SAN FRANCISCO, March 18, 2020 /PRNewswire/ -- The global medical imaging market size is expected to reach USD 28.83 billion by 2027, according to a new report published by Grand View Research, Inc. It is projected to register a CAGR of 4.0% during the forecast period. Increasing demand for advanced diagnostic systems in developing countries and rising collaborations among market players are the factors driving the growth.

Key suggestions from the report:

• Ultrasound captured the largest market share in 2019 and is expected to dominate throughout the forecast period
• Computed tomography is expected to expand at the fastest CAGR during the forecast period
• Rapid technological advancements, such as the development of hybrid imaging modalities and integration of Artificial Intelligence (AI) is anticipated to fuel growth of the CT segment
• Hospital segment is currently dominating the medical imaging market for diagnostic imaging due to blooming healthcare service industry in developing countries
• Ambulatory care centers segment is anticipated to report the fastest growth during the forecast period
• North America captured the largest medical/diagnostic imaging market share in 2019

Read 200 page research report with ToC on "Medical Imaging Market Size, Share & Trends Analysis Report By Product (X-ray, Computed Tomography, Ultrasound, MRI, Nuclear Imaging), By End User (Hospitals, Diagnostic Centers, Ambulatory), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/medical-imaging-systems-market

Developing countries have shown a surge in the volume of imaging procedures in the past few years. The low density of installed imaging systems in these regions is expected to provide significant growth potential during the forecast period. Favorable government policies and booming medical tourism in these countries are expected to attract global market players toward untapped markets.

Integration of multiple imaging modalities is expected to play an important role in market growth. These systems have accurate diagnostic capabilities and are available at affordable prices. The integration of imaging modalities with surgical suites is anticipated to open a new avenue for the medical/diagnostic imaging market at a global level in the forthcoming years.

Development of portable diagnostic tools is important to expand the applications of imaging devices in ambulatory care, clinics, and emergency care departments. Handheld ultrasound devices provide quick and safer images that are critical in emergency care. Ongoing trials and studies to explore the potential of MRI technology for early detection of neurological conditions are showing positive results. The development of new radiofrequency coils is anticipated to expand these applications during the forecast period.

Grand View Research has segmented the global medical imaging market on the basis of product, end user, and region:

• Diagnostic/Medical Imaging Product Outlook (Revenue, USD Million, 2016 - 2027)
• X-ray
• By Modality
• Radiography
• Fluoroscopy
• Computed Radiography
• By Mobility
• Stationary
• Mobile
• By Type
• Digital
• Analog
• By Application
• General Radiology
• Dental
• Breasts
• Cardiology
• Others
• Ultrasound
• By Product
• 2D
• 3D/4D
• Doppler Ultrasound Devices
• By Portability
• Handheld
• Cart/Trolley Based
• By Application
• Ob/Gyn
• Cardiovascular
• Musculoskeletal
• Others
• Computed Tomography
• By Technology
• High end Slice
• Mid end Slice
• Low end Slice
• Cone Beam
• By Application
• Oncology
• Neurology
• Cardiology
• Vascular
• Musculoskeletal
• Others
• Magnetic Resonance Imaging
• By Architecture
• Closed System
• Open System
• By Field Strength
• Low Field Strength
• Mid Field Strength
• High Field Strength
• By Application
• Brain and Neurological
• Spine and Musculoskeletal
• Vascular
• Abdomen
• Cardiac
• Breast
• Other
• Nuclear Imaging
• By Product
• SPECT
• Hybrid SPECT
• Standalone SPECT
• Hybrid PET
• Planar Scintigraphy
• By Application
• Oncology
• Cardiology
• Neurology
• General Imaging
• Diagnostic/Medical Imaging End-user Outlook (Revenue, USD Million, 2016 - 2027)
• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Care Centers
• Diagnostic/Medical Imaging Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• The Netherlands
• Switzerland
• Turkey
• Poland
• Asia Pacific
• China
• Japan
• India
• Thailand
• South Korea
• Malaysia
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Iran

Find more research reports on Medical Imaging Industry, by Grand View Research:

• Interventional Radiology Market – Rise in awareness about early and preventive diagnosis and demand for non-surgical treatment alternatives on the global scale is also affecting the market growth.
• Optical Coherence Tomography (OCT) Market – The Optical Coherence Tomography (OCT) market was valued at USD 719.0 million in 2015 and is expected to witness a CAGR of 11.2% over the forecast period.
• Surgical Microscopes Market – The rising prevalence of chronic conditions, such as cancer, where surgical intervention is one of the primary treatment lines is another factor that drives the growth.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.