Industry Background:
Over the past few years, the medical imaging instruments is applicable for MRI, CT-Scan, X-Ray Scan as it’s a part of various technologies and biological imaging. Due to prevalence of chronic diseases coupled with rising number of roads accidents, demand of better imaging techniques and geriatric population leads to boost the imaging instruments market. Medical Imaging Instrument market is expected to mark significant growth over forecasted period owing to increasing consumers spending for cure of medical imaging instruments. According to the World Health Organization (Switzerland), nearly 1.24 million people throughout the world die each year due to road traffic crashes that equates to ~3,400 deaths per day. So, the future for medical imaging instruments looks promising. Further, increasing demand for the 3D imaging expected to drive the market growth over the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | 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), FUJIFILM Holdings Corporation (Japan) and Samsung Electronics (South Korea) |
According to AMA, the market for Medical Imaging Instrument is expected to register a CAGR of 3.4% during the forecast period to 2027. This growth is primarily driven by Increase in the Prevalence of Associated Diseases Boost the Medical Imaging Instrument Market., Rapid Demand of Early Diagnosis and Widening Scope of Clinical Applications Fuelled up the Market. and Rise in Investments, Funds and Grants by Public-Private Organizations.
Globally, a noticeable market trend is evident Rising Demand for effective & efficient imaging technologies for diagnosis
The Health Care Technology sector in the North America 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), FUJIFILM Holdings Corporation (Japan) and Samsung Electronics (South Korea), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. In medical imaging instrument market, it has been observed that most of the companies are upgrading or introducing different artificial intelligence (AI) and in vitro diagnostics that provides exciting opportunities such as custom algorithm development, image capture, modalities, networked solutions, and machine vision.
Key Developments in the Market:
28 Feb 2019, Samsung Electronics, a leader in medical imaging technology has showcased the latest diagnostic imaging medical equipment and AI-based solutions at ECR 2019 – European Congress of Radiology in Vienna, Austria. At booth #406 (Expo. X4), Samsung is displaying a variety of diagnostic imaging equipment, especially, the X-ray zone, which was designed and inspired by pediatric wards, features a new low dose imaging processing engine for children.
On 26 Nov 2018, Samsung Electronics, a leader in medical imaging technology, has showcased its latest Ultrasound, Digital Radiography, Computed Tomography (CT), Magnetic Resonance Imaging (MRI) concept and their software innovations at the Radiological Society of North America (RSNA) 2018 Annual Meeting at McCormick Place in Chicago.
Regulatory Insights:
“According to Dubai Health Authority (DHA), its provide DHA Diagnostic Imaging Services Regulation which represents a milestone towards fulfilling the DHA strategic objectives in providing “A world class integrated health system that ensures excellence in health and healthcare for the Emirate of Dubai and promotes Dubai as a globally recognized destination for healthcare.”
Influencing Trend:
Rising Demand for effective & efficient imaging technologies for diagnosis and Medical Imaging Instruments Market Growth with Increase of Premium Consumer
Market Growth Drivers:
Increase in the Prevalence of Associated Diseases Boost the Medical Imaging Instrument Market., Rapid Demand of Early Diagnosis and Widening Scope of Clinical Applications Fuelled up the Market. and Rise in Investments, Funds and Grants by Public-Private Organizations
Challenges:
Limitation due to Hospital Budgets Cut are Anticipated to Challenge the Market. and Lack of Trained Professionals Hampers the Global Market.
Restraints:
High Cost associated with Medical Imaging Instruments., Technological Limitation Associated with Standalone Systems. and Storage of Helium Hampers the Medical Imaging Instruments Market.
Opportunities:
Proliferation of Artificial Intelligence and Analytics Leads to Grow the Market., Upsurge Adoption of Teleradiology. and Rise in Demand of Mobile Solutions and Contract Based Radiology
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 mostly 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 growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
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 in Medical Imaging Instrument Market
- Analysis about New Entrants in Medical Imaging Instrument Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Medical Imaging Instrument Study Sheds Light on
The Medical Imaging Instrument Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Imaging Instrument industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Imaging Instrument 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.