A research study titled, “Medical Imaging Equipment Market by Product Type and Application - Global Industry Analysis and Forecast To 2025” published by Crystal Market Research, states that the medical imaging equipment market is projected to be around $52 billion by 2025.
In the past few years, medical imaging has prominently modernized the healthcare industry. Medical imaging allows doctors to diagnose diseases at a primary stage and radically better the patient outcomes. Now, innovative medical imaging technologies render considerable benefits to the healthcare providers and the patients as well. Medical imaging assists physicians to understand the complications in the human body better. The techniques are entirely painless, non-invasive and majority of these techniques don’t require any special prior preparation. With the introduction of surgical C-arm machines for imaging, complicated surgeries have become highly feasible over the years. Such devices are used in orthopedic, cardiology, and traumatology for intra-operative imaging purposes.
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Medical imaging modalities can be classified into conventional X-ray examinations, computed tomography (CT), nuclear medicine imaging, ultrasound imaging and magnetic resonance imaging (MRI). The basic principle used in X-ray imaging is very much similar to ordinary photography. In normal photography, visible low energy light is used whereas in X-ray imaging high energy, invisible light is used. The extent of X-ray penetration in the human body depends upon the materials in the human body such as, bones, soft tissues, and air/gas. CT imaging is a rapid imaging process which combines the power of X-rays and advanced computers to generate cross sectional, 360 degree views. In nuclear imaging, unsealed radioactivity is used in order to create functional images. Ultrasound refers to sound waves with frequencies higher than 20,000 HZ which cannot be recognized by human ear. For most of the diagnostic purposes, the frequency range is maintained between 3.5 and 7 MHz. Different examination probes attached to the ultrasound equipment have different frequencies which can be used for imaging different organs and tissue structures. MRI imaging has crucial applications in examination of the central nervous system including the spinal cord as well as in examination of anatomical abnormalities such as congenital heart malformations.
Some of the key factors driving the growth of medical imaging equipment market are the growing prevalence of target diseases (such as cardiac disorders and cancers) coupled with increased patient awareness about early diagnosis of diseases, rising incidence of accident related severe injuries, and technological advancements in medical imaging techniques. However, factors such as high cost of medical imaging equipment along with the risk of side effects associated with emitted radiations will restrain the market growth in near future.
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The X-ray imaging systems segment occupied major share of the global medical imaging equipment market in 2016 while, mammography systems market is projected to be the fastest-growing segment during the forecast period. On the basis of application, the cardiovascular and thoracic segment dominated the overall market in 2016 owing to the development of ultrasound systems for the evaluation of cardiac diseases at point-of-care.
Asia-Pacific dominated the global medical imaging equipment market in 2016, due to rising demand for advanced health care services along with increasing disposable income of the people. Japan and China were the major contributors to the growth of the Asia-Pacific medical imaging equipment market.
Some of the key players operating in this market are FUJIFILM Holdings Corporation, General Electric Company, Siemens AG, Koninklijke Philips N.V., Shimadzu Corporation, Toshiba Medical Systems Corporation (acquired by Canon Inc.), Carestream Health, Inc., , Samsung Medison Co., Ltd., Hitachi, Ltd., Hologic, Inc., EsaoteSpA, Samsung Electronics Co., Ltd., and Mindray Medical International Limited.
Key Findings of the Research Study:
· X-ray imaging systems segment occupiedone-fourth share of the global medical imaging equipment market in 2016 and will continue to dominate the market during the forecast period.
· Mammography systems segment is projected to grow at a high single digit CAGR during the forecast period primarily due to digitalization of these systems.
· Cardiovascular and thoracic segment occupied major share of the overall market in 2016.
· Asia-Pacific occupied one-third share of the global medical imaging equipment market in 2016.
· Japan and China jointly occupied for almost half of the Asia-Pacific medical imaging equipment market in 2016.
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Medical Imaging Equipment Market Segmentation:
By Product Type:
- Magnetic Resonance Imaging (MRI) Systems
o By MRI Field Strength
§ Low to Mid Field Strength
§ High Field Strength
§ Very High Field Strength
o By MRI Architecture
§ Open MRI Systems
§ Closed MRI Systems
- X-ray Imaging Systems
o By Portability
§ Portable Devices
§ Stationary Devices
o By Technology
§ Analog Imaging
§ Digital Imaging
- Computed Tomography (CT) Scanners
o Low End Slice
o Mid End Slice
o High End Slice
- Ultrasound Imaging Systems
o 2D Imaging Systems
o Doppler Imaging
o 3D & 4D Imaging Systems
o Extracorporeal Shock Wave Lithotripsy (ESWL)
o High-Intensity Focused Ultrasound (HIFU)
- Mammography Systems
- Nuclear Imaging Systems
- Obstetrics/Gynecology (OB/GYN) Health
- Orthopedics and Musculoskeletal
- Neuro and Spine
- Cardiovascular and Thoracic
- General Imaging
- Breast Health
- North America
o Rest of Europe
o South Korea
o Rest of Asia Pacific
- Rest of the World
o South Africa
o Saudi Arabia
o United Arab Emirates
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About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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