Medical Digital Imaging Devices Market Scope
Medical digital imaging devices are the devices are used to create visual representation interior body for many propose such as medical treatment, clinical analysis, medical intervention, and research purpose. The emergence of new digital imaging technologies such as 3D and 4D is boosting the growth of the market. Increasing geriatric population across the globe and growing development of healthcare infrastructure due to increasing healthcare expenditure are the major key driver for the market. Additionally, the rising trend for 3D medical imaging equipment to generate visual presentation can create a new opportunity for the market. However, the high risk of weighing the radiation and lack of medical infrastructure in many geographical regions are the major limiting factors for the market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
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.An (Italy), Hologic, Inc. (United States) and FUJIFILM Holdings Corporation (Japan) |
CAGR | 5.69% |
"According to AMA, the Global Medical Digital Imaging Devices market is expected to see growth rate of 5.69% and may see market size of USD33.5 Billion by 2030."The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.The Players having a strong hold in the market are GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Agfa-Gevaert N.V., Canon Medical, Hitachi Ltd.. Research Analyst at AMA estimates that United States, European and Asian Players will contribute to the maximum growth of Global Medical Digital Imaging Devices market throughout the predicted period.
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.An (Italy), Hologic, Inc. (United States) and FUJIFILM Holdings Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Samsung Electronics (South Korea), Mindray Medical International (China), Planmed Oy (Finland), CurveBeam LLC (United States) and Shimadzu Corporation (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Medical Digital Imaging Devices market by Type , by Application (General Radiography Application, Dental Application, Fluoroscopy Application, Brain & Neurological MRI Application, Spine & Musculoskeletal MRI Application, Pelvic & Abdominal MRI Application, Breast MRI Application, Cardiac MRI Application and Obstetrics/Gynecology (OB/GYN) Application) and Region with country level break-up.
On the basis of geography, the market of Medical Digital Imaging Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2019 Fujifilm to Acquire Hitachi’s Diagnostic Imaging-related Business to Accelerate Growth of Its Healthcare Business. FUJIFILM Corporation announced that it has agreed with Hitachi, Ltd. to acquire Hitachi’s Diagnostic Imaging-related Business to further expand its Healthcare business. Before the acquisition, Hitachi will establish a company (the New Company) and implement an absorption-type company split whereby the New Company will absorb the Business. Fujifilm will acquire all the outstanding shares of the New Company from Hitachi. The completion of this acquisition is subject to customary closing conditions and regulatory approvals.
On May 14, 2019, a leading global health technology company "Royal Philips", has signed a 10-year strategic partnership agreement with Rutherford Diagnostics. This collaboration will utilize Philips innovative radiology technology and Rutherford Diagnostics’ healthcare expertise to deliver and operate advanced personalized diagnostic services through a network of community diagnostic centers, driving the best possible healthcare outcomes for patients. Rutherford Diagnostics is a subsidiary of Proton Partners International which operates diagnostic and cancer centers across the United Kingdom.
The Atomic Energy (Radiation Protection) Rules, 2004 [AE(RP)R-2004], promulgated under the Atomic Energy Act, 1962, provides the legal framework for the safe handling of radiation generating equipment (in this context - X-ray equipment). As per Rule 3 of AE(RP)R-2004 it is mandatory for all the manufacturers/Suppliers/Users of x-ray equipment, to obtain requisite ‘Licence’ from AERB for carrying out any of the above activities. To facilitate online submission of applications for various regulatory consents, AERB has launched e-governance application e-LORA (e-Licensing of Radiation Applications) System. All the Manufacturers/Suppliers/Service Agencies and X-ray institutions are required to obtain all the requisite consents from AERB through e-LORA. Detailed guidelines for all the stakeholders are available on homepage of eLORA.
Influencing Trend:
Rising Trend for 3D Medical Imaging Equipment to Generate Visual Presentation
Market Growth Drivers:
Increasing Geriatric Population across the globe and Growing Development of Healthcare Infrastructure due to Increasing Healthcare Expenditure and The Convenience of Compensation for Medical Imaging Treatment in Many Countries Such As Japan, United States, China and Others
Challenges:
Lack of Awareness about Medical Digital Imaging Advantages among People and Lack of Medical Infrastructure in Many Geographical Regions
Restraints:
High Risk of Weighing the Radiation
Opportunities:
Increasing Government and Private Medical Bodies Initiative for Developing Health Care Infrastructure and An Emergence of Cloud-based Medical Imaging will grow the Market
Key Target Audience
Medical Digital Imaging Device Manufacturers, Raw Material Suppliers, Suppliers and Distributors, Private Research Organization, Government Associations, Non-Governmental Organization, Technology Investors and Others