Global Medical Digital Imaging System Market

Medical Digital Imaging System Market Size, Share, Growth Analysis, By Type(MRI, X-ray, Ultrasound, CT), By Technology(2D (BnW, Color), 3D/4D), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2161 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 65 | Figures: 75

Medical Digital Imaging System Market Insights

Medical Digital Imaging System Market size was valued at USD 15.32 billion in 2019 and is poised to grow from USD 16.57 billion in 2023 to USD 31.45 billion by 2031, growing at a CAGR of 8.32% in the forecast period (2024-2031).

In driving the market, surging demand for effective early diagnostic methods, and widening the base of the aging population has been instrumental. Developing countries such as India and China, are poised to stoke the growth of the market over the coming years because of technological advancement and increasing investments and funds by the government.

In developing countries, the market growth is also boosted by the Increasing prevalence of lifestyle related diseases, rising demand for early detection tools, technological advancements to improve turnaround time, increased investment & reimbursement initiatives undertaken by the government and expansion of new facilities by market players.

The market is augmented by advancement in digital and communication technologies. In most diagnostic radiology procedures, the accurate anatomical detail is provided by New Imaging technique.

US Medical Digital Imaging System Market is poised to grow at a sustainable CAGR for the next forecast year.

Medical Digital Imaging System Market Report Snapshots

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The Medical Digital Imaging System Market competitive landscape provides details by competitor. The Medical Digital Imaging System Market is fragmented, with a few large and medium-sized players accounting for the majority of market revenue. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient technologies in the Medical Digital Imaging System Market. 'Siemens Healthineers', 'GE Healthcare', 'Philips Healthcare', 'Canon Medical Systems Corporation', 'Fujifilm Holdings Corporation', 'Koninklijke Philips N.V.', 'Hologic, Inc.', 'Shimadzu Corporation', 'Carestream Health', 'Hitachi Medical Corporation', 'Esaote SpA', 'Samsung Medison Co., Ltd.', 'Agfa-Gevaert Group', 'Mindray Medical International Limited', 'Toshiba Medical Systems Corporation', 'Analogic Corporation', 'Planmed Oy', 'Imaging Dynamics Company Ltd.', 'OrthoScan Inc.', 'Medtronic plc.'

In the medical digital imaging system market, the prime development is due to expanding the number of product introductions by major enterprises to increase their consumer base and footprint. Mostly the market focuses on giving the best imaging products to patients and physicians. Due to the several innovations made in MRI, ultrasound, mammography, 3D imaging and nuclear imaging, most of the prominent partners in the medical digital imaging market are shifting their focus towards value-based radiology and imaging. The factors which contribute to the development of chronic diseases are Unhealthy diet, sedentary lifestyles, the use of tobacco and alcohol, and biological factors such as dyslipidaemias, hypertension, obesity, and hyperinsulinemia. The market growth is boosted due to chronic diseases.

The market growth is impacted by factors such as Increasing demand for state-of-the-art imaging modalities by teaching hospitals and universities to provide training for advanced technology, the market is also expected to boost by, the adoption of AI to automate image quantification and identification process. For instance, to read all eye scans performed using an optical CT scanner, to ensure early detection of age-related macular degeneration, Google’s AI platform, named, Google’s Deepmind collaborated with Moorfields Eye Hospitals.

North America accounted for the largest market share and is expected to maintain its dominance over the forecast period, it accounts for the largest share of more than 33% in 2021, of the revenue. North America dominance is contributed by factors such as High adoption of advanced technology and improved healthcare infrastructure, high purchasing power, favourable reimbursement framework, high frequency of new product launches. In 2021, in terms of GDP, North America accounts for the highest spending on healthcare, with the U.S spending nearly 19.7% GDP. The regional market is also driven by these factors, coupled with the increasing aging population, a rise in the cases of chronic diseases, and the growing trend of preventive diagnostic practices.

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Medical Digital Imaging System Market Size, Share, Growth Analysis, By Type(MRI, X-ray, Ultrasound, CT), By Technology(2D (BnW, Color), 3D/4D), By Region - Industry Forecast 2024-2031

Medical Digital Imaging System Market Insights

Medical Digital Imaging System Market Report Snapshots

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