Medical Imaging Market Size Worth $28.83 Billion by 2027 | CAGR 4.0% : Grand View Research, Inc.

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18 Mar, 2020, 09:05 GMT

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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