iCrowd Newswire – Aug 19, 2020
The healthcare facilities in hospitals are rapidly upgrading in their technology, and expected to grow impressively in the healthcare sector, worldwide.
Medical imaging equipment is one of the essential equipment facilities to diagnose various diseases such as orthopedics, oncology, gynecological issues, and many others. Medical imaging such as X-Ray, CT scanners, and MRI are critical and costly equipment, which plays a pivotal role in initiatives to improve public health for all age groups.
Hence, the global medical imaging equipment market has now become the key area of focus for technological advancements in the overall healthcare sector.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global medical equipment market. The historic years considered for the study are 2016-2018, the base year is 2019, the estimated year is 2020, and the forecast period is 2021-2025.
The global medical imaging equipment market was valued at USD 35.21 billion in 2020 to USD 49.13 billion by 2025 at a CAGR of 5.8% during the forecast period.
Global Medical Imaging Equipment Market: Market Dynamics
The global medical imaging equipment market is anticipated to witness impressive growth during the forecast period, which is driven by the major factors such as the growing geriatric population coupled with increasing awareness about early disease detection and the wide scope of clinical applications. Other factors such as an increase in demand for advanced technology to precise the life-threatening disease is also fueling the market growth.
Factors such as the high cost of medical imaging systems and the low reimbursement structure for outpatient imaging facilities are anticipated to restrain the growth of the market to a certain extent in the coming years. Also, the lack of skilled personnel is hampering the growth of the medical imaging equipment market.
Global Medical Imaging Equipment Market: Segmental Analysis
The global medical imaging equipment market is segmented into product type, application, end-user, and region.
Based on product type, the medical equipment market is classified into magnetic resonance imaging (MRI), computed tomography (CT), X-ray, ultrasound, and nuclear imaging. Among all the products, the X-ray segment accounted for the largest share in the market as the cost of X-rays is less as compared to other imaging modalities, also favorable returns on investments.
On the basis of end-user, the medical imaging equipment market is segmented into hospitals, diagnostic imaging centers, research, and academics. The hospital segment held the largest share of the market, attributed to the rising number of diagnostic imaging procedures performed in hospitals to improve the quality of patient care, and the adoption of advanced technologies to improve workflow efficiency.
Global Medical Imaging Equipment Market: Regional Analysis
Geographically, the medical imaging equipment market is classified into five regions namely North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
In 2020, North America holds the largest share in the global medical imaging equipment market, owing to the presence of leading manufacturers. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period due to the improving healthcare infrastructure.
Global Medical Imaging Equipment Market: Competition Scenario
Prominent players in the global medical imaging equipment market include Philips Healthcare, Samsung Medison, GE Healthcare, Hitachi Medical System, Siemens Healthcare, Fujifilm Holdings Corporation, Shimadzu Corporation, Canon Medical Systems Corporation, Fonar Corporation, and Hologic Inc.
Critical Questions Answered in the Report
- What are the key trends in the global medical imaging equipment market?
- How the market (and its various sub segments) has grown in the last four years and what would be the growth rate in the next five years?
- What are the key strategies adopted by the major vendors to lead in the global medical imaging equipment market?
- What is the market share of the top vendors?
1 Executive Summary
2 Market Introduction
2.3 Scope of the Study
2.4 Related Stakeholders
3 Research Methodology
3.2 Primary Research
3.2.1 Key Insights
3.2.2 Breakdown of Primary Interviews
3.3 Secondary Research
3.3.1 Important Sources
3.4 Market Size Estimation Approaches
3.4.1 Top-Down Approach
3.4.2 Bottom-Up Approach
3.4.3 Data Triangulation
3.5 List of Assumptions
4 Market Dynamics
4.2.1 Increase the growth rate of the Geriatric population.
4.2.2 Rise in demand for advanced technology to precise the life-threatening illness.
4.3.1 High cost of medical imaging equipment
4.3.2 Lack of skilled professionals
4.4.1 New opening of government and private bodies.
4.4.2 Adoption of cloud-based analytics and artificial intelligence(AI)
4.5 Porter’s Five Forces Model Analysis
4.6 Value Chain Analysis
4.7 Regulatory Landscape
5 Global Medical Equipment Market, By Product Type
5.1 X-ray devices
5.2 Magnetic resonance imaging (MRI)
5.3 Computed tomography (CT) scanner
5.4 Nuclear imaging equipment
5.5 Ultrasound system
6 Global Medical Equipment Market, By Application
7 Global Medical Equipment Market, By End-User
7.2 Diagnostic Imaging Centers
7.3 Research and Academic
8 Global Medical Equipment Market, By Region
8.2 North America
8.3.6 Rest of Europe
8.4.4 South Korea
8.4.5 Rest of Asia-Pacific
8.5 Middle East and Africa
8.6 South America
9 Competitive Landscape
9.2 Vendor Evaluation Criteria
9.3 Market Share Analysis, 2019 (%)
9.4 Recent Developments, 2016-2019
9.4.1 New Solution Type Launches
9.4.3 Mergers or Acquisitions
9.4.4 Business Expansions
10 Company Profiles
10.1 Philips Healthcare
10.2 Samsung Medison
10.3 GE Healthcare
10.4 Hitachi Medical System
10.5 Siemens Healthcare
10.6 Fujifilm Holdings Corporation
10.7 Shimadzu Corporation
10.8 Canon Medical Systems Corporation
10.9 Fonar Corporation
10.10 Hologic Inc.
11.1 Discussion Guide
11.2 Customization Options
11.3 Related Reports
Keywords: Medical Imaging Equipment,X-ray devices, Magnetic resonance imaging, Computed tomography scanner, Nuclear imaging equipment,Ultrasound system