3D Medical Imaging Devices Market Set to Witness an Uptick during 2019 to 2026

Posted by Mrudula Karmarkar on December 24th, 2021

The global 3d medical imaging devices market size is expected to reach USD 20.8 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 5.9% during the forecast period. High prevalence of cancer, cardiovascular diseases, and Alzheimer’s among other chronic diseases is projected to drive the growth. Rise in healthcare expenditure across developed economies and rapid technological advancements are other prime factors responsible for the market growth.

Few noteworthy technological advancements include development of imaging systems with low radiation levels and increasing approvals of contrast and media/agents. For instance, in April 2016, Bracco Diagnostics, a U.S. based subsidiary of Bracco Imaging S.p.A., an Italian giant in the 3D imaging; received approval from the U.S. Food and Drug Administration (FDA) for its new ultrasound contrast agent Lumason, for pediatric and adult patients. In another instance, Germany based healthcare company, Bayer Healthcare received FDA approval in May 2016 for Gadovist injection used in the angiography procedures in U.S. Such factors are expected to bode well for the global market growth over the forecast period.

However, the 3D medical imaging devices market is restrained due to the high cost of devices and the shortage of helium used in the cooling of MRI scanners.

According to a the United Nations (UN) report published in 2017, people aged 65 and above accounted for approximately 13.0% of the total global population. This number is growing at the rate of 3.0% annually. The geriatric population is more prone to musculoskeletal diseases and joint problems. Osteoarthritis is the most common problem for old age people of more than 65 years and is accompanied by increased mortality, and decreased quality of life. The global rise in incidence of chronic and life-threatening diseases are the major drivers for the market.

The emergence of automated 3D imaging scanners and on-going R&D development in contrast agents used for 3D imaging is also expected to propel the market growth. For instance, in July 2018, GE Healthcare introduced ready to drink the oral solution, Omnipaque (Iohexol) in the U.S. The solution acts as a contrast media and aids in visualization in the gastrointestinal tract.

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Moreover, according to the U.S. Centers for Disease and Control (CDC), the participation for organized sports has witnessed a rise in the U.S. Approximately 2 million injuries, 0.5 million doctor visits, and 30,000 hospitalizations are recorded among the 30 million adults from the U.S. participating in sports each year. This has opened new opportunities for 3D medical imaging devices due to the increasing demand for point-of-care imaging coupled with a high addressable population.

3D Medical Imaging Devices Market Report Highlights

• By type, computed tomography emerged as the largest segment in 2017 owing to the rise in road traffic accidents
• Orthopedic led the application segment owing to the global rise in old age population with musculoskeletal problems
• Rise in healthcare expenditure in emerging markets, such as India and China coupled with awareness regarding early diagnosis are key factors propelling growth of the 3D medical imaging devices market
• North America held the largest market share in 2017. Growing adoption of minimally invasive surgeries and demand for novel technologies are expected to support this dominance during the forecast period
• Asia Pacific is projected to witness swift growth during the forecast period owing to the rapidly improving healthcare infrastructure and the presence of large patient population
• Few of the key market players include Siemens Healthineers; Philips Koninklijke; GE Healthcare Ltd.; Hitachi Medical Systems; Del Medical Systems Inc.; and DigiRad Corporation.

The key market players include Siemens Healthineers; Esaote SpA; Koninklijke Philips N.V.; GE Healthcare Ltd.; Canon Medical Systems; Hitachi Medical Systems; Shimadzu Corporation; DigiRad Corporation; and Del Medical Systems Inc. These players focus on launching new products. For instance, in October 2018, Siemens unveiled its MAGNETOM RT Pro edition for MAGNETOM Sola, a new version of its 1.5 Tesla MRI scanner at its 60th annual meeting in American Society for Radiation Oncology (ASTRO). The scanner includes in-built software and hardware and is designed to assist in radiation therapy treatments.

Grand View Research has segmented the global 3D medical imaging devices market based on device type, application, solution:

3D Medical Imaging Device Type Outlook (Revenue, USD Million, 2013 - 2026)

• X-ray Devices
• CT
• Ultrasound Systems
• MRI

3D Medical Imaging Devices Application Outlook (Revenue, USD Million, 2013 - 2026)

• Oncology
• Cardiology
• Orthopedic

3D Medical Imaging Devices Solution Outlook (Revenue, USD Million, 2013 - 2026)

• 3D Scanning
• 3D Rendering
• 3D Modeling

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.