The global Medical Imaging Market size is expected to reach USD 47.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.9% from 2022 to 2030. Increasing demand for advanced diagnostic systems in developing countries and growing trends of market player collaborations are some of the key factors driving the market.
Developing countries have shown a surge in the volume
of imaging procedures in the past few years. The low density of installed
imaging systems in these regions is expected to provide significant growth
potential during the forecast period. Favorable government policies and booming
medical tourism in these countries are expected to attract global market
players in the untapped market. The integration of multiple imaging modalities
is expected to play an important role in market growth. These systems have
accurate diagnostic capabilities and are available at affordable prices. The
integration of imaging modalities with surgical suites is anticipated to open a
new avenue for the market at the global level.
The development of portable diagnostic tools is
important to expand the applications of imaging devices in ambulatory care,
clinics, and emergency care departments. Handheld ultrasound devices provide
quick and safer images that are critical in emergency care. Ongoing trials and
studies to explore the potential of MRI technology for the early
detection of neurological conditions are showing positive results. The
development of new radiofrequency coils is anticipated to expand these
applications during the forecast period.
Related Press Release@ Medical Imaging Market Report
Medical Imaging Market Report
Highlights
- The ultrasound product segment captured the largest market share in
2021. The segment is expected to dominate the market throughout the
forecast period
- The Computed Tomography (CT) segment is expected to grow
at the fastest CAGR during the forecast period
- This is due to the rapid technological advancements, such as the
development of hybrid imaging modalities and the integration of AI
- Based on end-uses, the hospital segment dominated the market in
2021 due to the blooming healthcare service industry in developing
countries
- North America led the global market and accounted for the largest
revenue share in 2021
- The region’s growth is credited to the presence of a large number
of industry players and the high frequency of new product launches
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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