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Increasing focus on building advanced healthcare infrastructures and expanding access to modern medical technology are propelling the growth of the medical imaging market in emerging economies. The emergence of innovative technology such as 7T MRI equipment, high-slice CT scanners, 4D and 5D ultrasound imaging, and innovations in digital X-ray technologies is likely to boost the demand for medical imagining devices in the global market.
The leading vendors in the market are launching next-generation medical imaging devices that help in prevention, diagnosis and treatment planning, and disease management. The introduction of such devices will help the vendors in the global medical imaging market to occupy a large market share. The growing focus on the development of nuclear imaging devices will boost sales revenue in the medical imaging market during the forecast period.
The development of BRIC countries and APAC markets, especially Japan and China, is developing new investment opportunities for players in the medical imaging market. The introduction of innovative, technologically advanced devices and developing research partnerships with major academic institutes will help vendors launch new diagnostic imaging devices in the global market.
Medical Imaging Market – Dynamic
The growing demand for remote medical imaging technologies and POC testing devices will drive the growth of the medical imaging market over the next few years. These medical imaging devices have advanced software and cloud computing technology that enable remote diagnosis and management through smart devices. The introduction of remote diagnostic technologies helps physicians to perform quick scans virtually anywhere with commercially available devices. Some of POS diagnostic equipment available in the market have advanced image features that include 3D and 4D imaging with a wide spectrum of indications. Such technological advancement will fuel the growth of the global medical imaging market.
Medical Imaging Market – Segmentation
This market research report includes a detailed segmentation of the market by products, end-users, and geography.
Medical Imaging Market – Products
Growing demand for mobile X-ray devices to boost the sale in the medical imaging market during the forecast period.
The global medical imaging market by product is further segmented into X-ray equipment, ultrasound imaging equipment, MRI equipment, CT scanners, and nuclear imaging equipment. The X-ray equipment product segment held the largest market share in the global medical imaging market, occupying close to 34% of the market size in 2017. The X-ray equipment segment is divided into three major categories: analog X-ray, digital radiography, and computed radiography. The growing adoption of mobile x-ray systems and portable x-ray devices in the emergency department, operating rooms, ICUs, and NICUs will drive the growth of the market segment during the forecast period. Portable x-ray systems offer consistent system availability, improved ease-of-use, and versatility and help reduce risks in healthcare monitoring and management.
Medical Imaging Market – End-users
Diagnostic centers in India and Brazil to contribute to the market share in the medical imaging market during the forecast period.
The end-user segment in the medical imaging market is divided into hospitals, diagnostic centers, and others. The diagnostic centers end-user segment dominated the medical imaging market, accounting for around 54% of the total market share in 2017. Diagnostic centers are segregated into large, medium, or small-sized centers, based on the volume of analysis or imaging performed. The rise in digitalization and development of modern healthcare infrastructure in emerging countries such as India and Brazil will drive the growth of the market segment during the forecast period. The growing demand for independent diagnostic centers that offer multiple services will have a positive impact on the growth of this market segment over the next few years.
Medical Imaging Market – Geography
North America to be the largest geographical segment in the medical imaging market during the forecast period.
The global medical imaging market by geography is further segmented into North America, APAC, Europe, Latin America, and MEA. North America dominated medical imaging market by occupying close to 34% of the total market share in 2017. With the aid of well-established healthcare infrastructure, better access to healthcare services, and adequate reimbursement services, the US occupies more than 95% of the total market share in North America. The introduction of innovative systems such as portable CT, 3D/4D ultrasound devices, portable digital X-rays with wireless DR detectors, and fusion imaging enabled CT/PET devices will contribute to the development of the medical imaging market during the forecast period.
Key Vendor Analysis
The presence of key vendors occupying most of the market share makes the global medical imaging market a highly competitive and oligopolistic market. These prominent companies account for approximately 70-75% of the total market share in the global medical imaging market. The leading players are focusing on the development and distribution of all types of medical imaging equipment, including X-ray devices, ultrasound imaging equipment, CT Scanners, MRI devices, and nuclear imaging devices to gain a wide customer base. The widespread launch and use of handheld, portable, and point-of-care devices both for therapeutic and diagnostic imaging purposes will increase the competition in the market over the next few years.
The major vendors in the global market are:
- Toshiba Medical
- GE Healthcare
- Siemens Healthineers
- Koninklijke Philips
Key Topics Covered:
1 Research Methodology
2 Research objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Product Type
4.3.2 Market Segmentation by End-Users
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Currency Conversion rate
5.2 Market Derivation
6 Market at a Glance
7.2 Major Medical imaging modalities
7.3 Clinical Need FOR Medical Imaging
8 Regulatory Scenario
8.1.1 Device Classification
8.1.2 Medical Device Approval Process in US
8.2.1 Classification of Medical Devices in Europe
8.2.2 Medical Device Approval Process in Europe
8.2.3 New EU Regulations for Medical Devices
9 Reimbursement Scenario Worldwide
9.2 Reimbursement Scenario in North America
9.2.1 Reimbursement Scenario in US
9.2.2 Overview of Reimbursement for Medical Imaging
9.3 Reimbursement Scenario in Europe
9.3.1 Reimbursement Scenario in UK
9.3.2 Reimbursement Scenario in France
9.3.3 Reimbursement Scenario in Italy
9.3.4 Reimbursement Scenario in Spain
9.3.5 Reimbursement Scenario in Germany
9.3.6 Review of European Diagnostic Medical Imaging Reimbursement Structure
9.4 Reimbursement Scenario in APAC
9.4.1 Reimbursement Scenario in Japan
10 Market Dynamics
10.1 Market Growth Enablers
10.1.1 Growth in Aging Population and Prevalence of Chronic Diseases
10.1.2 Technological Advancements in Imaging Modalities
10.1.3 High Focus on Preventive Healthcare and Early Diagnosis
10.1.4 Increase in Minimally-invasive Image-Guided Surgeries
10.1.5 YOY Impact of Market Enablers
10.2 Market growth restraints
10.2.1 Premium Costs Associated with Medical Imaging Equipment
10.2.2 Increase in Dominance for Refurbished Equipment
10.2.3 Harmful Effects of Ionizing Radiations
10.2.4 YOY Impact of Market Restraints
10.3 Market Opportunities & Trends
10.3.1 Increased Demand for Portable Imaging Equipment
10.3.2 Increase in Strategic Consolidations
10.3.3 Upsurge in Remote Medical Imaging Technologies and POC Testing
10.3.4 YOY Impact of Trends and Opportunities
11 Global Medical Imaging Market
11.1 Market Overview
11.2 Market Size & Forecast
12 Medical Imaging Market by Product Type
12.1 Segment Overview
13 X-ray Imaging Market
13.1 Market Overview
13.1.1 Segment-specific Market Dynamics
13.2 Market Size & Forecast
13.3 X-ray Equipment by Technology
13.3.2 Market Size & Forecast
13.3.3 Analog X-ray: Market Size & Forecast
13.3.4 Digital Radiography Equipment: Market Size & Forecast
13.3.5 Computed Radiography (CR) Equipment: Market Size & Forecast
13.4 X-ray Equipment Market by Application
14 Ultrasound Imaging Market
14.1 Market Overview
14.1.1 Segment-specific Market Dynamics
14.2 Market Size & Forecast
14.3 Ultrasound Imaging Equipment Market by Technology
14.3.2 Market Size & Forecast
14.3.3 Diagnostic Ultrasound Equipment: Market Size & Forecast
14.3.4 Therapeutic Ultrasound Equipment: Market Size & Forecast
14.4 Ultrasound Imaging Equipment Market by Application
15 MRI Imaging Market
15.1.1 Segment-specific Market Dynamics
15.2 Market Size & Forecast
15.3 MRI Equipment Market by Architecture
15.3.2 Market Size & Forecast
15.3.3 Closed MRI Equipment: Market Size & Forecast
15.3.4 Open MRI Equipment: Market Size & Forecast
15.4 MRI Equipment Market by Application
16 CT Imaging Market
16.1 Market Overview
16.1.1 Segment-specific Market Dynamics
16.2 Market Size & Forecast
16.3 CT Scanners Market by Technology
16.4 CT SCANNERS Market Sub-segmentation by Application
17 Nuclear Imaging Market
17.1 Market Overview
17.1.1 Segment-Specific Market Dynamics
17.2 Market Size & Forecast
17.3 Nuclear Imaging Equipment Market by Product Type
17.3.2 Market Size & Forecast
17.3.3 SPECT Equipment: Market Size & Forecast
17.3.4 PET Equipment: Market Size & Forecast
17.4 Nuclear Imaging Equipment Market by Application
18 Medical Imaging Market By End-Users
18.1 Market Overview
18.2 Diagnostic Centers: Market Size & Forecast
18.3 Hospitals: Market Size & Forecast
19 Medical Imaging Market By Geography
Key Company Profiles
- Toshiba Medical Systems Inc.
- GE Healthcare
- Siemens Healthineers
- Koninklijke Philips N.V.
- Fujifilm Corp.
Other Prominent Companies
- Ziehm Imaging Inc.
- Boston Scientific Corp.
- Shimadzu Corp.
- Varex Medical Systems iNC.
- Carestream Health
- Esaote Spa
- Analogic Corp.
- ABIREX INC.
- Mindray Medical International Ltd.
- Samsung Healthcare
- Konica Minolta Healthcare Americas Inc.
- NeuSoft Medical
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