Medical Imaging Market To Surge Beyond $55.7 Billion By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting

According to a report, “Diagnostic/Medical Imaging Market Analysis By Product (X-ray, Computed Tomography, Ultrasound, MRI, Nuclear Imaging), By Product Type (Stationary, Portable), And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., The global medical imaging market is expected to reach USD 55.7 billion by 2025. Funds and initiatives by government and private players is expected to benefit the market. For instance, based on the information provided by the Hindustan Times in 2016, the Indian Government has setup an agency for encouraging domestic manufacturers and regulated prices of the medical devices.

Funds and initiatives by government and private players is expected to benefit the market. For instance, based on the information provided by the Hindustan Times in 2016, the Indian Government has setup an agency for encouraging domestic manufacturers and regulated prices of the medical devices.

Key Takeaways from the report: 

• Based on product type, there are five segments, X-ray, computed tomography, ultrasound, MRI equipment, and nuclear imaging. The x-ray segment was identified as the largest and is expected to grow at a CAGR of over 3.0% during the forecast period.

• North America is one of the most lucrative region for medical imaging market owing to better infrastructure facilities as compared to emerging regions and high end purchasing power along coupled with reimbursement framework in the region. U.S is the dominating region owing to its large population base having insurance coverage, advancement in technology, aging population coupled with prevalence of chronic disease.

• Key performing companies include Philips Healthcare, GE Healthcare, Siemen Healthineers, and Toshiba Medical Systems. Other players include, Shimadzu Corporation, Varian Medical Systems, Aribex Corporation, and Ziehm Imaging, Inc.

U.S. medical imaging market, by product, 2014 – 2025  (USD Billion)

Along with rise in investments and funds in developing region, there is also a significant rise in fundings in the European countries such as the UK where USD 21.0 million was provided by the government in August 2015 for better development of new therapy, diagnostics and medical technologies. Such efforts across various countries worldwide, together, are anticipated to positively drive the market over the forecast period.

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Global medical imaging market, by application, 2016 (%)

The Diagnostic imaging market is highly consolidated and is anticipated to witness various new product launches over the forecast period, which will vitally impact the revenue generation for the industry. For instance, the adoption of high slice technology in CT scanners is expected to drive revenue for the industry globally. As of 2016, high slice system includes 80, 128, 256, 320 and 640 slice system which are offered only by top vendors such as Toshiba, Siemens Healthineers, Philips and GE healthcare.

Grand View Research has segmented the global medical/ diagnostic imaging market on the basis of product, and region:

Medical Imaging Product Outlook (Revenue, USD Million, 2014 – 2025)

• X-ray

• By product type

• Stationary

• Portable (Handheld, Mobile)

• By technology

• Analog

• Computed radiology

• Digital radiology

• Computed Tomography (CT)

• By product type

• Stationary

• Portable

• By technology

• Low slice scanners

• Medium slice scanners

• High slice scanners

• Ultrasound equipment

• By product type

• Trolley/Cart Based

• Compact/Portable

• By technology

• 2D

• 3D/4D

• Doppler

• HIFU

• Lithotripsy

• MRI equipment

• By product type

• Closed

• Open

• By technology

• High field

• Medium field

• Low field

• Nuclear imaging

• By technology

• SPECT

• PET

Medical Imaging Regional Outlook (Revenue, USD Million, 2014 – 2025)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

• Asia Pacific

  • China

  • Japan

• Latin America

  • Brazil

  • Mexico

• Middle East Asia

• South Africa

• Saudi Arabia

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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com

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