New York, NY, May 20, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Medical Imaging Market by Product (Nuclear Imaging Equipment, Computed Tomography Scanners, X-Ray Devices, Ultrasound Systems, Digital Imaging, and Magnetic Resonance Imaging) and by Application (Diagnostics Center, Community Health Services, Hospitals, Research Institutes, Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global medical imaging market was approximately USD 34 billion in 2018 and is expected to generate around USD 48.6 billion by 2025, at a CAGR of around 5.2% between 2019 and 2025.
The medical imaging technology is a part of biological imaging and uses various technologies, such as x-ray scan, MRI, CT-scan, etc., to diagnose diseases and help doctors/physicians decide the course of treatment. Medical imaging is perceived to view and analyze the internal aspects of the body with various sets of techniques that non-invasively produce images. This technology is also used for follow-up sessions after the disease is diagnosed or treated. The growing investments made by governments of emerging countries and technological advancements witnessed in medical imaging are expected to fuel the growth of the medical imaging market globally. Additionally, the increase in the awareness of early-stage detection of diseases and the rise in the aging population are also anticipated to fuel the global medical imaging market. However, the high costs of setup and machine may hinder the medical imaging market development.
Browse through 37 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Medical Imaging Market Size & Trends 2018 Report: Industry Share, Growth, CAGR, Segments, Analysis and Forecast to 2025”.
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On the basis of product, the medical imaging market includes magnetic resonance imaging, nuclear computed tomography scanners, imaging equipment, ultrasound systems, x-ray devices, and digital imaging. In 2018, x-ray devices contributed almost 27.5% of the total revenue generated by the medical imaging market globally. The x-ray devices segment is expected to lead the global market in the future, due to their ubiquitous usage and assistance in the diagnosis of various diseases. Increase in the prevalence of orthopedic injuries and accidents, less exposure to radiation, and higher quality of images have also fueled the growth of x-ray devices. The nuclear imaging equipment segment is expected to show fast growth in the years ahead, due to the on-going developments witnessed in new radiotracers and the rising prevalence of cancer and cardiovascular diseases. The application segment includes diagnostics center, community health services, hospitals, research institutes, clinics, and others.
Hospitals have a large patient pool that is suffering from various chronic diseases. For the diagnosis and treatment of these diseases, hospitals have a greater number of medical imaging technologies as compared to their counterparts. Thus, the hospitals are expected to dominate the global market in the upcoming years.
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North America is anticipated to dominate the global medical imaging market over the forecast time period, owing to the growing awareness about preventive care, technological advancement in imaging technology, and the rising number of diagnostic centers. The increase in the geriatric population, which is generally prone to chronic diseases, is also driving the North American medical imaging market. The U.S. is the largest medical imaging market globally due to the higher disposable income of the people. The launch of new innovative equipment by major companies and the rapid increase in the adoption of medical imaging technology by the medical industry are also expected to drive this region’s medical imaging market.
Europe is expected to grow at a significant rate in the future, owing to the growing prevalence of chronic diseases, increasing adoption of medical imaging devices, and rising awareness about medical imaging devices. The key players are engaged in technological advancements in the medical imaging devices in this region. For instance, in CT, image resolution is already high that leaves little to no room for technological advancements, but the manufacturers are focusing on the reduction of radiation and contrast both and obtain high-quality images with these changes.
Browse the full “Medical Imaging Market by Product (Nuclear Imaging Equipment, Computed Tomography Scanners, X-Ray Devices, Ultrasound Systems, Digital Imaging, and Magnetic Resonance Imaging) and by Application (Diagnostics Center, Community Health Services, Hospitals, Research Institutes, Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/medical-imaging-market
Asia Pacific is expected to show the highest CAGR over the forecast time period in the global medical imaging market. The presence of a huge patient pool and rise in the number of hospitals and diagnostic centers in China, Japan, and India are anticipated to fuel the medical imaging market in the Asia Pacific. There is an increase in the chances of treatment of chronic disorders when they are detected early. Therefore, the healthcare sector and government organizations in developing countries of this region are focusing on the early detection of chronic disorders instead of spending on treatments. Additionally, government organizations are also conducting programs to create awareness for early diagnosis of chronic diseases, which is expected to further fuel this region’s medical imaging market.
The Middle East and Africa and Latin America are expected to witness low growth over the forecast timeline. Increase in the number of patients, rise in the awareness about healthcare, and growth in R&D investments are anticipated to drive the medical imaging market in these regions.
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Some major players operating in the global medical imaging market are Shimadzu Corporation, Fujifilm Holdings Corporation, Philips Healthcare, GE Healthcare, Fonar Corporation, Samsung Medison, HOYA Group Pentax, Hitachi Medical Corporation, Toshiba Corporation, Hologic, Medtronic, Carestream Health, and Siemens Healthcare.
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This report segments the global medical imaging market as follows:
Global Medical Imaging Market: Product Analysis
- Nuclear Imaging Equipment
- Computed Tomography Scanners
- X-Ray Devices
- Ultrasound Systems
- Digital Imaging
- Magnetic Resonance Imaging
Global Medical Imaging Market: Application Analysis
- Diagnostics Center
- Community Health Services
- Hospitals
- Research Institutes
- Clinics
- Others
Global Medical Imaging Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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