Global Medical Imaging Market Forecast to 2024

  • Product Code:
    RP-ID-10078132
  • Published Date:
    Mar 2019
  • Region:
    Global
  • Pages:
    140
  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:
    Infoholic Research
Global Medical Imaging Market – Drivers, Opportunities, Trends, and Forecasts: 2018–2024
Overview
Medical Imaging refers to visualizing of human body parts, organs or tissues, which are used for clinical diagnosis and monitor for treatment of various medical conditions. Every technology used as imaging gives a different type of information about the area being diagnosed or examined. Imaging techniques helps radiologist and physicians to offer accurate diagnosis and right treatment that encompass the fields of radiology, optical imaging, nuclear medicine, and interventions. Modern medical imaging is also used in nuclear medicine and using a variety of methods in visualizing the biological processes occurring in cells of organisms. In this, radioactive markers are used for molecular imaging called the radiopharmaceutical.
X-ray based are the primary or the basic methods of medical imaging. It includes three major types: conventional X-ray, computed tomography (CT) and mammography. Contrast agents are used to enhance the X-ray image that are used for angiography examinations.
Imaging systems today have extensive applications in many fields and in medical the use of X-ray medical diagnostic (computer tomography or digital radiography). The design and features of current imaging systems give an optimal use of information contained in X-ray quanta, which have passed through the patients.
Market Scenario
The market has witnessed substantial growth in the past few years due to increase in the acceptance of hybrid technology, multi-modality systems, increase adoption of lower doses of ionizing radiation, increase in demand for healthcare service, active or favorable support by the government, and rise in the prevalence of chronic diseases. Diagnostic imaging is one is one of the major industries in healthcare, which has adapted to constant changes and continuing to grow consistently. Imaging systems today have extensive applications in many fields and in medical the use of X-ray medical diagnostic (computer tomography or digital radiography). The design and features of current imaging systems give an optimal use of information contained in X-ray quanta, which have passed through the patients. There are numerous technologies being driven and it’s hard to provide accurate diagnostic images at lower cost. Therefore, the use of advanced medical imaging systems enables effective and efficient diagnosis.
Most of the leading medical imaging companies focus in developing high quality imaging data for delivering real-time images of that provide assessment of various tissue pathophysiology based on different spectral characteristic of tissue.
Factors such as aging, progressive health condition, hypertension, alcohol consumption, secondary medical conditions such as diabetes depression, cardiovascular, and another serious medical condition. The sales of medical imaging are expected to increase through advancement and technological adoption of multi-modality imaging systems in hospitals.
Key Players:
The market is dominated by Siemens Healthcare, GE Healthcare, Philips Healthcare, Toshiba Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp have the maximum revenue generation in the global medical imaging market.
Market Analysis: The Global Medical Imaging Market is estimated to witness a CAGR of 5.8% during the forecast period 2018–2024. The market is analyzed based on five segments, namely product types, portability, type, end-users, and regions.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are set to be the leading countries owing to the highest number of diagnostic cases in 2017. This region dominates the overall presence of medical imaging and has the most diversified X-ray systems available in the market. It has the highest percentage of elderly population with many individuals with chronic diseases such as CVD, diabetes, obesity, high blood pressure, and other urology related factors. This has attracted most of the customers to sustain and grow over the period and maintain their product presence in the market.
Europe is set to be the second leading region and held more than 25% of the market share in 2017. The market in Europe was largely driven by advances in medical imaging technologies. Factors such as increase in the prevalence of diseases, continuous adaption of advanced technologies, and increase in aging population is driving the market. The countries such as Germany, France, UK, and Italy are the major contributor to the market.
The APAC region is the fastest growing region in the global medical imaging market in 2017.
Competitive Analysis: The global medical imaging market has immense growth opportunities in both developed and developing regions. The market in the developed countries is witnessing an increased adoption of medical imaging systems for high quality imaging, screening and diagnosing due to improved access and encouragement from the government & other healthcare institutions, especially in the US, Canada, France, Germany, and the UK.
The advances in technology and product upgradation will increase the competition among vendors. The market is highly dynamic with the presence of few big players accounting for more than 65% share in the overall market. Siemens Healthcare, GE Healthcare, Philips Healthcare, Toshiba Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp dominated the global Siemens Healthcare, GE Healthcare, Philips Healthcare, Toshiba Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp market in 2017. Other companies like Canon Medical Systems Corporation, Carestream Health, Shimadzu Medical, Hologic, and Esoate SpA have negligible share and compete stronglyl with the leading vendors in the market. The benefits such as safety, high quality images, easy monitoring and analysis of 3D images, obtain high resolution images to show small breast cancers, and combination with multi-imaging systems have increased the demand of medical imaging in the market.
Key competitive facts:
• The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
• The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players

Benefits: The report provides complete details about the usage and adoption rate of medical imaging market. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the urology segment in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
Key Stakeholders:

Table of Contents
1 Industry Outlook 11
1.1 Medical Devices Industry 11
1.1.1 Overview 11
1.1.2 Geography 11
1.1.3 Medical technologies 11
1.1.4 Industry Trends 13
1.2 Healthcare Spending in the US 14
1.3 Regulatory Bodies & Standards 14
1.4 Reimbursement Scenario 15
1.5 Emerging Global Markets 16
1.6 Patient Demographics 17
1.7 Medical Imaging 19
1.7.1 Overview 19
1.7.2 Definition: Medical Imaging 20
1.7.3 Why Medical Imaging? 20
1.7.4 Evolution of X-ray Technology 21
1.7.5 PESTLE Analysis 26
2 Report Outline 27
2.1 Report Scope 27
2.2 Report Summary 27
2.3 Research Methodology 29
2.4 Report Assumptions 29
3 Market Snapshot 30
3.1 Total Addressable Market (TAM) 30
3.2 Segmented Addressable Market (SAM) 33
3.3 Opportunity Analysis 35
3.4 Strategic Initiatives 36
3.5 Related Markets 37
3.5.1 Ultrasound Devices 37
3.5.2 Medical X-ray Equipment 37
3.5.3 MRI Equipment 37
3.5.4 Mammography Devices 37
3.5.5 Healthcare X-ray Detectors 37
3.6 Porter 5 (Five) Forces 38
4 Market Characteristics 39
4.1 Market Segmentation 39
4.1.1 General X-ray 41
4.1.2 MRI 43
4.1.3 Ultrasound 44
4.1.4 CT Scan 46
4.1.5 Nuclear imaging 47
4.2 Medical Imaging Market, By Portability 49
4.2.1 Portable Medical Imaging 49
4.2.2 Fixed Medical Imaging Market 50
4.3 Medical Imaging Market, By Imaging Type 51
4.3.1 2D Imaging 51
4.3.2 3D Imaging 52
4.3.3 4D imaging 52
4.3.4 5D imaging 52
4.4 Market Dynamics 53
4.4.1 Drivers 53
4.4.1.1 Increase in adoption of advanced imaging systems 53
4.4.1.2 Rise in number of diagnostic centers 54
4.4.1.3 Government focuses towards cost-effective treatment to public 54
4.4.1.4 Rise in demand of multi-modal imaging 54
4.4.1.5 Widespread applications of medical imaging 54
4.4.2 Restraints 56
4.4.2.1 High cost of imaging devices 56
4.4.2.2 Unfavorable reimbursement plans 56
4.4.2.1 Intense competition among vendors 56
4.4.2.2 Lack of skilled radiologists 57
4.4.3 Opportunities 57
4.4.3.1 Medical imaging to integrate with IT 57
4.4.3.2 Development in medical imaging 57
4.4.3.3 Introduction of artificial intelligence to aid radiology 58
4.4.3.4 Early prevention and diagnosis 58
4.4.3.5 Big data and analytical tools to enhance healthcare interoperability 58
4.4.4 DRO – Impact Analysis 59
4.5 Key Stakeholders 60
5 Industry Trends 61
5.1 Market Trends & Impact 61
6 Buying Criteria 62
7 End-users 63
7.1 Overview 63
7.2 Hospitals 64
7.3 Ambulatory Care 64
7.3.1 ASCs in the Americas 65
7.3.1.1 US 65
7.3.1.2 Canada 65
7.3.1.3 Mexico 65
7.3.1.4 Cuba 65
7.3.2 ASCs in EMEA 65
7.3.2.1 UK 65
7.3.2.2 Germany 65
7.3.2.3 France 66
7.3.2.4 Israel 66
7.3.2.5 Africa 66
7.3.3 ASCs in APAC 66
7.3.3.1 Australia 66
7.3.3.2 Japan 66
7.3.3.3 India 66
7.3.3.4 China 66
7.4 Diagnostic Centers 67
7.5 Others (Research Centers, Non-Profit Organizations, and Nursing Home) 67
8 Regions 69
8.1 Overview 69
8.2 North America 70
8.2.1 Overview 70
8.2.1.1 Key factors driving the market 71
8.2.1.2 Snapshot of North America 72
8.3 Europe 73
8.3.1 Overview 73
8.3.1.1 Key factors driving the market 74
8.3.1.2 Snapshot of Europe 75
8.4 APAC 76
8.4.1 Overview 76
8.4.1.1 Snapshot of APAC 78
8.5 Rest of the World 79
8.5.1 Overview 79
8.5.1.1 Snapshot of ROW 81
9 Market Attractiveness 84
9.1 Overview 84
9.2 Market Attractiveness by End-users 85
10 Competitive Landscape 86
10.1 Competitor Comparison Analysis 86
10.1.1 Key Competitive Facts 87
11 Vendors Profile 89
11.1 GE Healthcare 89
11.1.1 Overview 89
11.1.2 Business Units 94
11.1.3 Geographic Revenue 95
11.1.4 Business Focus 95
11.1.5 SWOT Analysis 96
11.1.6 Business Strategies 96
11.2 Philips Healthcare 97
11.2.1 Overview 97
11.2.2 Business Units 103
11.2.3 Geographic Revenue 104
11.2.4 Business Focus 104
11.2.5 SWOT Analysis 105
11.2.6 Business Strategies 105
11.3 Siemens Healthineers Inc. 106
11.3.1 Overview 106
11.3.2 Business Units 112
11.3.3 Geographic Revenue 113
11.3.4 Business Focus 113
11.3.5 SWOT Analysis 114
11.3.6 Business Strategies 114
11.4 Fujifilm Holdings Corp. 115
11.4.1 Overview 115
11.4.2 Business Units 119
11.4.3 Geographic Revenue 120
11.4.4 Business Focus 120
11.4.5 SWOT Analysis 121
11.4.6 Business Strategies 121
11.5 Canon Medical Systems Corp. 122
11.5.1 Overview 122
11.5.2 Business Segments 125
11.5.3 Geographic Revenue 125
11.5.4 Business Focus 126
11.5.5 SWOT Analysis 126
11.5.6 Business Strategies 127
11.6 Hitachi Medical Corp. 127
11.6.1 Overview 127
11.6.2 Business Units 130
11.6.3 Geographic Revenue 130
11.6.4 Business Focus 131
11.6.5 SWOT Analysis 131
11.6.6 Business Strategies 131
12 Companies to Watch for 132
12.1 Shimadzu Corp. 132
12.1.1 Overview 132
12.1.2 Key Highlights 133
12.1.3 Key News 133
12.2 Thales Group 133
12.2.1 Overview 133
12.2.2 Key Highlights 133
12.2.3 Key News 134
12.3 Agfa-Gevaert N.V. 134
12.3.1 Overview 134
12.3.2 Key Highlights 134
12.3.3 Key News 134
12.4 Carestream Health Inc. 135
12.4.1 Overview 135
12.4.2 Key Highlights 135
12.4.3 Key News 136
12.5 Hologic Corp. 136
12.5.1 Overview 136
12.5.2 Key Highlights 137
12.5.3 Key News 137
13 Other Prominent Vendors 138
14 Annexure 140

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Siemens Healthcare, GE Healthcare, Philips Healthcare, Toshiba Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp
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