Industry Background:
Medical imaging refers to some different technologies that are used for observation of human body in order to diagnose, monitor, or treat medical conditions. All imaging modalities that the medical condition becomes visible by some method of contrast, meaning that the feature of interest such as a tumor can be recognized in the image and observed by a qualified radiologist. The diagnostic imaging technology market continues to witness a number of trends, which are a move towards patient-centric radiology and value-based imaging.
According to AMA Research, the market for Medical Imaging Technology is expected to register a CAGR of 4.7% during the forecast period to 2030. This growth is primarily driven by Increasing Healthcare Expenditure
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as GE Healthcare (United States), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Agfa-Gevaert N.V. (Belgium), Canon Medical Systems Corporation (Japan), Hitachi Ltd. (Japan), Carestream Health, Inc. (United States), Esaote S.p.A (Italy), Hologic, Inc. (United States) and FUJIFILM Holdings Corporation (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On July 18, 2019 - Hologic, Inc. has announced a partnership with MagView, a leading mammography information solutions provider, to develop Unifi EQUIP. The Unifi EQUIP solution will be available to customers as part of Hologic’s integrated Unifi product portfolio.
On January 28, 2019 - Canon Medical Systems Corporation introduces Global Illumination rendering technology within the Vitrea platform. This technology allows physicians to interact in real-time with photorealistic images and visualize patient anatomy in all dimensions. and On July 3, 2019 - Royal Philips, a global leader in health technology, has introduced Azurion with FlexArm, to set a new standard for patient imaging and positioning flexibility for image-guided procedures in India.The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies.
Regulatory Insights:
Devices used in medical imaging are considered medical devices under the Federal Food, Drug, and Cosmetic Act (FD&C Act) as amended by the Medical Device Amendments of 1976 and subsequent related amendments. Most existing medical imaging technologies are considered non-510(k)-exempt Class I and Class II medical devices by FDA, making them eligible for clearance under the 510(k) pathway. Under the 510(k) pathway, a next-generation imaging technology may be found substantially equivalent.
Influencing Trend:
Growing Potential and Need for Medical Imaging, Development of Tissue Imaging Technology and The Convenience of Compensation for Medical Imaging Treatment
Market Growth Drivers:
Increasing Healthcare Expenditure and Increasing Demand for 3D Medical Imaging Equipment to Generate Visual Presentation
Challenges:
Lack of Awareness about Medical Digital Imaging Advantages among People
Restraints:
Medical Imaging Equipment are Expensive
Opportunities:
Growing Development of Healthcare Infrastructure and Emergence of Cloud-based Medical Imaging
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medical Imaging Technology Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medical Imaging Technology Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medical Imaging Technology players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Imaging Technology Study Sheds Light on
The Medical Imaging Technology Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Imaging Technology industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Imaging Technology industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.