The global medical power supply market was valued at USD 38.4 billion in 2021 and it is anticipated to grow up to USD 55.1 billion by 2031, at a CAGR of 3.7% during the forecast period.
Global Medical Imaging Market report from Global Insight Services is the single authoritative source of intelligence on Medical Imaging Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Medical imaging forms an important component of healthcare industry for better diagnosis and treatment planning. Medical imaging techniques such as an ultrasound, X-ray, MRI, and CT scans help to visualize body organs internally allowing better care for the patients. Medical imaging, also known as radiology, is the field of medicine in which medical professionals recreate various images of parts of the body for diagnostic or treatment purposes. Medical imaging procedures include non-invasive tests that allow doctors to diagnose injuries and diseases without being intrusive.
Market Trends and Drivers
Rising healthcare expenditure in developed as well as developing countries surge the demand for medical imaging. All these factors together will drive the medical imaging industry over the forecast period. Furthermore, increasing R&D activities coupled with rising healthcare infrastructure and adaptation of innovative medical imaging modalities are expected to drive market growth over the forthcoming years. Growing incidence of chronic diseases especially in geriatric population increases the demand for medical imaging in hospitals and diagnostic centers. Several technological advancements and innovations increase the reliability of medical imaging thereby increasing its demand in healthcare.
Market Restraints and Challenges
Technological limitations associated with standalone systems may impede the market growth. Technological limitations associated with standalone imaging modalities deter researchers from purchasing them, negatively affecting their market growth. For instance, MRI takes longer to scan large volumes or high-resolution images, whereas PET has a lower spatial resolution. Ultrasound systems are heavily operator-dependent, require direct contact with the body, and have limited tissue depth penetration. SPECT has low detection sensitivity, and CT has poor soft-tissue contrast, providing less information about functional characteristics, and carries the risk of radiation exposure for both physicians and patients.
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Global Medical Imaging Market Segmentation
By Product
- X-Ray Devices
- Digital
- Analog
- Magnetic Resonance Imaging (MRI)
- Ultrasound
- 2D Ultrasound
- 3D Ultrasound
- Others
Major Players in the Global Medical Imaging Market
The key players in the medical power supply market are Siemens Healthineers, Canon Medical System Corporation, Samsung Medison, Koninklijke Philips, Carestream Health, Fujifilm, Esaote, GE Healthcare, Hologic, and Konica Minolta, among others.
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