The global medical digital imaging systems market size is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increase in demand for early diagnosis as well as rising geriatric population.
Medical digital imaging is a method used to picture the internal configuration of patient for the detection of a disease or diagnosis the problem in the early stage. There has been tremendous rise in the number of patient with chronic diseases because of changing lifestyle and unhealthy diets. Chronic diseases such as dyslipidemia, obesity, hypertension, and hyperinsulinemia are very common among a large number of the global population. The increasing cases of these diseases have raised the demand for quality and precision of diagnosis. Some of the major technology used in the digital imaging for healthcare are positron emission tomography (PET)/computed tomography (CT) and magnetic resonance imaging (MRI), which are highly effective as compared to other technology such as angiography, arthrography, and myelography. The digital imaging offers several benefits such as fast diagnosis, reduced risk of data damage, and easy access to radiology studies.
The COVID-19 pandemic, in the first half of 2020, has adversely impacted the market as the world witnessed lockdowns, travel restrictions, and heavy burden on the healthcare sectors. However, with the high demand for the CT scan for the diagnosis of COVID-19 infection in the lungs of the patient, the market had come back to the right track. The increasing research activities for the use of digital imaging in regards to the detection and treatment of COVID-19 patients have boosted the market. The digital imaging offers several advantages to the diagnosis of various infectious diseases.
Market Trends, Drivers, Restraints, and Opportunities
- Extensive research and development activities for the improvement of the technology for better and fast results of digital imaging devices is expected to propel the market growth in the coming years.
- Heavy investments by the key players as well as government agencies for the development of the innovative diagnostic technology is a key factor for market growth.
- Increased awareness among the population for the importance of early diagnosis of the diseases as well as rising medical tourism is a major driver of the market.
- Strict regulatory policies and increasing cost associated with digital imaging diagnostic procedures are major factor restricting the market expansion.
Scope of the Report
The report on the global medical digital imaging systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Medical Digital Imaging Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (MRI, X-ray, Ultrasound, CT, and Nuclear Imaging) and Technology (2D [Black & White and Color] and 3D/4D)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Siemens Healthcare; Hitachi; GE Healthcare; Koninklijke Philips; Canon Medical Systems Corporation; Hologic; Medtronic; and Shimadzu Corporation
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Market Segment Insights
Nuclear imaging segment is expected to grow at a rapid pace
Based on types, the global medical digital imaging systems market is divided into MRI, X-ray, ultrasound, CT, and nuclear imaging. The nuclear imaging segment is expected to grow at a rapid pace owing to the development new radiotracers, new product launches, and high cancer incidences around the world. As per the report by the American Cancer Society in 2019, around 1,762,400 number of cancer patients were reported in the U.S. Additionally, the improvement of radiotracers as Single Photon Emission Computed Tomography (SPECT) that offer certain advantages such as less radiation exposure and fast results are anticipated to contribute significantly for the segment growth.
Meanwhile, the MRI and CT segment are also expected to grow at significant growth rates during the forecast period due to the constant improvement is the technology and extensive research activities. The presence of new technology for these devices is a major contributing factor for the segment growth.
3D/4D segment is projected to expand at a considerable CAGR
On the basis of technology, the market is bifurcated into 2D and 3D/4D. The 2D segment is further bifurcated into black & white (BnW) and color. The 3D/4D segment is projected to expand at a considerable CAGR during the forecast period owing to the advancement in the technology, efficient and accurate real-time imaging of the body, and heavy preference in developing as well as developed countries. These devices are also gaining popularity in the fetal monitoring and 4D imaging is actually 3D image with real time movement. Meanwhile, the black & white segment is anticipated to account for a major market share in the coming years due to wide use of the techniques in underdeveloped countries but its use is limited due to availability of other better options.
North America is anticipated to constitute a key market share
In terms of regions, the global digital imaging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share owing to the presence of highly skilled healthcare professionals, positive policies implemented by the government, and high purchasing power of the region. Furthermore, the high awareness among the population as well as advanced healthcare facilities are contributing for development of the market in the region.
The Asia Pacific market, however, is expected to register lucrative growth rate in the coming years due to the high disease populations, governments’ interest in the digital imaging segment, and low cost clinical trials. The constant growth in the medical tourism sector is boosting the market in the region.
Segments
The global medical digital imaging systems market has been segmented on the basis of
Types
- MRI
- X-ray
- Ultrasound
- CT
- Nuclear Imaging
Technology
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Siemens Healthcare
- Hitachi
- GE Healthcare
- Koninklijke Philips
- Canon Medical Systems Corporation
- Hologic
- Medtronic
- Shimadzu Corporation
Competitive Landscape
The key players in the global medical digital imaging systems market are Siemens Healthcare; Hitachi; GE Healthcare; Koninklijke Philips; Canon Medical Systems Corporation; Hologic; Medtronic; and Shimadzu Corporation. These key players have adopted a series of market strategies including new product launching, entering into partnership, collaboration, and production expansion to enhance their market position and expand their consumer base.
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