Take Advantage Of Global Medical Imaging Market 2019-2023

Posted by Ruchi Walt on October 24th, 2019

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Medical imaging equipment is used to view a human body to diagnose and monitor medical conditions. It uses ionizing radiation, sound waves, radiofrequency waves, and magnetic fields to capture the images of the internal and external body. 

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Blockchain technology is an emerging technology in the medical imaging industry. A limited number of companies, such as Medical Diagnostic Web, MedNetwork, and DeepRadiology, use blockchain technology in the field of radiology. These companies are developing blockchain platforms to store and share medical information related to radiology. For instance, in November 2018, Medical Diagnostic Web unveiled the first radiology blockchain platform. The platform enables radiologists to securely transfer patient data and medical images, such as X-rays and CT scans, between imaging facilities.` 

To meet the rising diagnostic requirements and improve sales volume, vendors are focusing on developing technologically advanced medical digital imaging systems. These advanced products have features such as 5D ultrasound and digital X-rays with wireless DR detectors, which facilitate improved image quality and accurate diagnosis. The development of superconducting magnets and software integration into imaging modalities and the development of hybrid imaging modalities are other technological advancements in medical imaging. Such developments, coupled with the focus of vendors towards upgrading their imaging modalities with enhanced software solutions will positively influence the growth of the market over the forecast period.

With the advent of advanced technologies such as artificial intelligence and machine learning, vendors have been integrating AI into medical imaging devices. This is one of the key medical imaging market trends that will gain traction over the forecast period. AI-enabled medical imaging allows users to automate and standardize complex diagnostic procedures, improve patient experience outcomes, and reduce the costs. Vendors are also developing AI platforms for end-users such as hospitals to manage medical imaging data, which help clinicians in making quick diagnosis decisions. The factors will increase the adoption of AI-enabled medical imaging among hospitals and clinics, subsequently driving market growth at a CAGR of over 5% during 2019-2023.

Top Companies in Medical Imaging Market

The global market is fairly concentrated. To help clients improve their market positions, this medical imaging market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This medical imaging market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies in creating strategies to make the most of future growth opportunities.

The report offers a detailed analysis of several leading medical imaging companies, including:

  • Canon Inc.
  • Carestream Health Inc.
  • FUJIFILM Holdings Corp.
  • General Electric Co.
  • Hitachi Ltd.
  • Hologic Inc.
  • Koninklijke Philips NV
  • Samsung Electronics Co. Ltd.
  • Shimadzu Corp.
  • Siemens Healthineers AG.

Medical Imaging Equipment Market by Product

  • X-ray imaging
  • Ultrasound imaging
  • MRI
  • CT scanner imaging
  • SPECT/PET imaging

The X-ray imaging market segment held the largest share in 2018. Technological advances and the increased adoption of portable and mobile X-ray systems will boost the growth of the market segment during the forthcoming years. This report provides an accurate prediction of the contribution of all the segments to the growth of the medical imaging market size.

 Medical imaging generates a large volume of data, which must be stored and transferred between hospitals, imaging facilities, and patients. The large volume of data and the slow speed of transmission make data sharing unfeasible. Hence, important data sources are not used effectively. Thus, the storage and retrieval of imaging data are a challenge for hospitals and diagnostic facilities. Hence, the emergence of blockchain technology and growing demand for cloud computing in medical imaging is expected to propel the growth of the global medical imaging market at a CAGR of 5.05% during the forecast period.


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Ruchi Walt

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Ruchi Walt
Joined: August 29th, 2019
Articles Posted: 22

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