Next Imaging Technology Market Primed to Surpass US$ 83,294.80 Million By 2030

Next Imaging Technology Market is projected to register a CAGR of 18.8% during 2023-2030, due to the increasing demand for advanced imaging technologies to produce detailed and accurate images in healthcare, security & surveillance, and machine vision applications, and major participants includes are Barco, Flir Systems, Galaxy Core, Imaging Technology Solutions, Karl Storz, Olympus., Qualcomm Technologies, Sk Hynix, Sony


New York, July 17, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Next Imaging Technology Market” published by Consegic Business Intelligence, the market was worth USD 21,226.51 million in 2022 and is anticipated to reach over USD 83,294.80 million by the year 2030, growing at a CAGR of 18.8%.

Next imaging technologies refers to the integration of advanced technologies including artificial intelligence, machine learning, and computer vision with medical imaging systems for enhanced diagnostic accuracy, precision, and efficiency.

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The increasing adoption of advanced medical diagnostic equipment for the detection of abnormalities and diseases in human body is driving the growth of the market. Medical diagnostic tools feature next imaging technologies for capturing accurate and detailed images of different organs, cells, and tissues in the body. For instance, in January 2023, PENTAX Medical launched new premium video processor and endoscope series featuring plug-and-play solution for medical imaging and visualization.

The integration of advanced technologies including Artificial Intelligence (AI) in next imaging technologies is expected to create growth opportunities for the market during the forecast period. AI is expected to improve accuracy and sensitivity in the identification of abnormalities in the human body. However, the high cost of implementing next generation imaging technologies in hindering the growth of the market.

Report AttributesReport Details
Market Size By 2030 USD 83,294.80 million
Forecast Period2023-2030
CAGR (2023-2030)18.8%
Base Year2022
Study Timeline2017-2030
Key PlayersBarco, Flir Systems, Galaxy Core, Imaging Technology Solutions, Karl Storz, Olympus., Qualcomm Technologies, Sk Hynix, Sony, Toshiba Corporation, GE HealthCare
By TypeInduction Tomography, Electromagnetic Imaging, and CMOS Imaging
By TechniqueOptical, Radiography, Thermal Scanning, and Others
By ApplicationAutomotive, Healthcare, Security & Surveillance, Civil Engineering, and Others
Report CoverageCompany Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
By RegionNorth America, Europe, Asia-Pacific, Latin America, Middle East & Africa

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Next Imaging Technology Market Growth Drivers:

  • The increasing demand for imaging technologies in medical diagnostics and treatment planning is driving the growth of the market.
  • The increasing adoption of advanced imaging technologies for automated machine vision systems is propelling the growth of the market.
  • The application of security cameras for inspection and monitoring of critical infrastructure is accelerating the growth of the market.

Restraints

  • The high cost of implementing next-generation imaging technologies is hindering the growth of the market.

Opportunities

  • The integration of advanced technologies including Artificial Intelligence (AI) in next imaging technologies is expected to create growth opportunities for the market during the forecast period.

Global Next Imaging Technology Market Segmentation Details:

Based on Type, the electromagnetic imaging contributed the largest shares to the market growth in 2022. The increasing adoption of electromagnetic fields for mapping of geological structures including earth, soil, and water is propelling the market growth. Moreover, the application of electromagnetic imaging for non-destructive testing for the detection of defects and quality of materials is accelerating the growth of the market.

Based on Technique, the optical imaging segment accounted for the maximum revenue share in the year 2022. The increasing adoption of optical imaging technology for analyzing microscopic structures and biological samples is driving the growth of the market. Moreover, the application of optical imaging technology in consumer electronics devices including smartphones and digital cameras is accelerating the growth of the market.

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Based on Application, the healthcare segment accounted for the maximum revenue share in the year 2022. The application of next imaging technologies in endoscopy, laparoscopy, and catheter-based imaging during surgical procedures is propelling the growth of the market. Moreover, the increasing adoption of advanced imaging technologies for routine radiology testing is driving the growth of the market.

Based on Region, North America accounted for the largest revenue share in the year 2022. The increasing adoption of next imaging technologies in well-developed healthcare industry is propelling the growth of the market. Moreover, technological advancements in the region such as the integration of AI in imaging technologies is proliferating the growth of the market.

Recent Developments

  • In December 2022, the government of Ontario invested USD 20 million to add 27 new magnetic resonance imaging (MRI) machines in hospitals across Ontario.
  • In April 2022, GE HealthCare launched next-generation Revolution Aspire CT (Computed Tomography) scanner equipped with high imaging intelligence for diagnosing diseases and anomalies.

Key Market Highlights

  • The global next imaging technology market size is estimated to reach USD 83,294.80 million by 2030 and grow at a CAGR of 18.8% during the forecast period (2023-2030).
  • Globally, next imaging technology market is segregated based on the type into induction tomography, electromagnetic imaging, and CMOS imaging.
  • In the context of technique, the market is separated into optical, radiography, thermal scanning, and others.
  • Based on application, the market is separated into automotive, healthcare, security & surveillance, civil engineering, and others.
  • The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
  • Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in next imaging technology market.

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List of Major Global Next Imaging Technology Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

  • Barco
  • Flir Systems
  • Galaxy Core
  • Imaging Technology Solutions
  • Karl Storz
  • Olympus
  • Qualcomm Technologies
  • Sk Hynix
  • Sony
  • Toshiba Corporation
  • GE HealthCare

Global Next Imaging Technology Market Segmentation: 

  • By Type
  • Induction Tomography
  • Electromagnetic Imaging
  • CMOS Imaging
  • By Technology
  • Optical
  • Radiography
  • Thermal Scanning
  • Others
  • By Application
    • Automotive
    • Healthcare
    • Security & Surveillance
    • Civil Engineering
    • Others

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Key Questions Covered in the Next Imaging Technology Market Report

  • What are next imaging technologies?

- Next imaging technologies refers to the integration of advanced technologies such as artificial intelligence, machine learning, and computer vision with medical imaging systems for enhanced diagnostic accuracy, precision, and efficiency. 

  • What will be the potential market valuation for the next imaging technology industry by 2030?

- Next imaging technology market is expected to reach USD 83,294.80 million in 2030, registering a CAGR of 18.8% during the forecast period. 

  • Based on current market trends and future predictions, which geographical region will have the largest impact on the next imaging technology growth in the coming years?

- North America accounted for the largest revenue share in the year 2022. The increasing adoption of advanced imaging technologies in well-developed healthcare industry is driving the market growth. 

  • Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

- Asia Pacific is anticipated to register fastest CAGR growth during the forecast period. The rising adoption of advanced technologies in security & surveillance applications is driving the growth of the regional market.

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