Medical/Diagnostic Imaging Market Share, Size, Global Insights and Future Outlook

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World Medical/Diagnostic Imaging Market - Opportunities
and Forecasts, 2015 – 2022
Summary
World Medical/Diagnostic Imaging Market is Expected to Reach $45.0 Billion by 2022 - Allied Market
Research
A new report published by Allied Market Research titled, "Medical/Diagnostic Imaging Market"projects
that the world medical imaging market would reach $45.0 billion by 2022, registering a CAGR of 5.1%
from 2015 to 2022. X-ray imaging systems is expected to continue to be the highest revenue-generating
segment throughout the forecast period. North America accounted for around one-third of the market
share in 2015, and is expected to dominate the overall market during the study period.
The major factors boosting the market growth include technological advancements, rising incidence of
chronic diseases, and increasing geriatric population worldwide. In addition, increase in number of
medical imaging procedures, and rising awareness for early diagnosis of clinical disorders are anticipated
to further drive the demand for healthcare services in the world medical imaging market. However,
scarcity of helium, high cost of imaging technologies, and unfavorable reimbursement scenario in the
emerging economies are some of the factors restricting the market growth.
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The cardiovascular and thoracic disease application segment is projected to maintain its lead throughout
the analysis period owing to increase in the number of medical imaging services and technological
advancements. In addition, technological innovations in the imaging industry have facilitated the
development of cost-effective and smaller point-of-care ultrasound systems for cardiac evaluation.
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Mammography systems has emerged as the fastest growing segment, registering a CAGR of 8.3%, in
terms of revenue, during the forecast period. Innovation and digitalization of mammography devices are
the major factors contributing to this segments growth.
Geographically, the Asia-Pacific region accounted for the majority of the share in the medical/diagnostic
imaging market in 2015, and is expected to maintain this lead throughout the forecast period. This is
mainly attributed to the improving healthcare infrastructure and healthcare expenditures in the
emerging markets (such as India and China) to overcome the unmet medical needs in these countries.
However, LAMEA is projected to be the fastest growing region throughout the analysis period.
Increasing incidence of chronic disorders (such as heart disease, cancer, and diabetes) and rapidly
growing geriatric population drive the LAMEA medical/diagnostic imaging market.
Key findings of the study:
In 2015, X-ray imaging systems was the highest revenue-generating segment, accounting more than
one-fourth of the overall market revenue, and is projected to grow at a CAGR of 3.7% during the
forecast period.
The mammography systems segment is expected to grow at a remarkable CAGR of 8.3%, owing to the
innovation and digitalization of mammography devices.
Asia-Pacific accounted for about one-third share of the world medical imaging market in 2015.
The cardiovascular and thoracic application segment is projected to maintain its lead in the market until
2022.
China and Japan are the major shareholders in the Asia-Pacific region, jointly accounting for more than
50% share of the Asia-Pacific medical imaging market.
The key players profiled in this report include GE Healthcare, Philips Healthcare, Hitachi Medical
Corporation, Hologic, Inc., Siemens Healthcare, Samsung Medison, Shimadzu Corporation, Toshiba
Medical Systems Corporation, Esaote S.P.A, and Fujifilm Corporation.
Medical/Diagnostic Imaging refers to the use of different imaging modalities to get visual
representations of the interior of a body for diagnostic and therapeutic purposes. The medical imaging
includes different types of modalities that are used to image the human body for diagnosis and
treatment of a variety of diseases, and hence plays a vital role in improving health. The medical imaging
industry has been revolutionized from bed-side monitoring towards high-end digital scanning.
The world medical/diagnostic imaging market is expected to reach $45 billion by 2022, growing at a
CAGR of 5.1% during the forecast period. Technological advancements in diagnostic imaging devices,
rising incidences of chronic diseases coupled with the rapidly aging population, increase in number of
medical imaging procedures, and rising awareness for early diagnosis of clinical disorders are the key
factors that are expected to boost the market growth. Furthermore, untapped medical imaging market
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in Asia-Pacific and LAMEA region is also expected to accelerate the overall market growth during the
forecast period. Shortage of helium, high cost of imaging modalities and unfavourable reimbursement
scenario in emerging countries may limit market growth, but the increasing healthcare spending in
emerging markets will continue to boost demand for diagnostic imaging devices.
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The market is expected to gain traction in the developing regions of Asia-Pacific and other LAMEA
nations. The reasons for the unparalleled market growth are large undiagnosed patient population,
rapid urbanization, increase in disposable income, improved government funding towards chronic
disorders, and growing awareness about early diagnosis of diseases. However, adoption of these highcost medical imaging systems in countries namely, India and China would continue to remain a key
challenge for the leading innovators.
This report segments the medical imaging market on the basis of product type, application, and
geography to provide a detailed assessment of the market. Based on product type, the market is
segmented into computed tomography (CT) scanners, X-ray imaging systems, magnetic resonance
imaging (MRI) systems, ultrasound imaging systems, nuclear imaging systems, and mammography
systems. The X-ray imaging systems segment spearheads the product types market governing over one
fourth of the world medical/diadnostic imaging market in 2015 and would continue to maintain its
market position during the forecast period (2016-2022). The nuclear imaging systems market is
projected as the fastest growing segment throughout the forecast period. Based on applications, the
market is segmented into obstetrics/gynecology (OB/GYN) health, orthopedics and musculoskeletal,
neuro and spine, cardiovascular and thoracic, general imaging, breast health, and others. The report
covers a geographic breakdown and a detailed analysis of medical imaging market across North
America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific and LAMEA markets are expected to register
the highest CAGR during the forecast period.
The strategic developments by these key players in recent years are set to further strengthen the
market. A comprehensive competitive analysis and profiles of major market players such as GE
Healthcare, Philips Healthcare, Hitachi Medical Corporation, Hologic, Inc., Siemens Healthcare, Samsung
Medison, Shimadzu Corporation, Toshiba Medical Systems Corporation, Esaote S.P.A, and Fujifilm
Corporation have been provided in the report.
KEY BENEFITS:
This report provides an extensive analysis of the current and emerging market trends and dynamics in
the world medical imaging market.
The medical imaging market scenario is comprehensively analyzed in accordance to the key regions.
The market estimations are made in the report by conducting high-end analysis of the key market
segments from 2015 to 2022.
Extensive research is done for the market by product type which instils a clear understanding regarding
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the currently used medical imaging modalities and evolving role of imaging technologies.
A detailed SWOT analysis enables to study the internal environment of the leading companies for
strategy formulation.
Competitive intelligence highlights the business practices followed by leading market players across
geographies.
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Connect for more details:
Sam Collins
Market Reports Center
1-646-883-3044 (US)
[email protected]

Asia-Pacific is likely to be the fastest growing market, growing at a CAGR of 16.5% from 2015 to 2022. In 2015, North America and Europe collectively accounted for around three-fourths of the world medical robotics and computer-assisted surgery market revenue.