Medical Imaging Market-Overview
During the global pandemic, an increasing number of clinicians have discovered that artificial intelligence (A.I.) and edge computing are the next stages of development in the medical imaging business. As per MRFR, the Medical Imaging Market is estimated to gain a CAGR of 7.10% to reach a revenue potential of USD 64,994.14 Million by 2030.
Advancements in point-of-care ultrasound systems will push the medical imaging market size in the projected period. Medical professionals’ and patients’ preferences for medical diagnostic imaging are anticipated to motivate the market share.
The medical imaging market has been segmented into modality, application, and end-users. The market is divided into three segments based on application: cardiology, cancer, and neurology. Furthermore, the market is divided into diagnostic centers, hospitals and clinics, academic institutes, and research establishments based on end-users. The global medical imaging market is further subdivided into magnetic resonance imaging (MRI), nuclear imaging, computed tomography (C.T.), ultrasound systems, and X-ray systems based on modality.
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Detailed Regional Analysis
A shortage of funding may hamper the medical imaging market’s expansion. According to the market research analysis, firms in the medical imaging market may benefit from technology improvements and changing professional medical preferences throughout the forecast period. In North America, which includes medical imaging markets in the United States, Canada, Mexico, and several other regional markets, the market for X-ray systems, cardiology, clinics, and hospitals is expected to develop dramatically. Europe is the following market in medical imaging due to an increase in cancer incidence across European nations, which is increasing the demand for medical imaging equipment throughout the projected period, therefore driving market reinforcement in the European area. The expanding patient pool and accelerating technological improvements associated with the use of advanced medical imaging systems are expected to benefit the Asia-Pacific medical imaging market growth.
The efficacy of core sectors on a global scale is expected to boost global market expansion in the next years. Furthermore, improving economic linkages across several nations are likely to give additional prospects for growth in the coming years. Market participants’ overall development prospects are expected to improve gradually as the impact of the COVID-19 outbreak fades. The excitement surrounding COVID-19-related medicinal procedures, such as vaccines, being pushed out in diverse regions is expected to boost market sentiment. The entry of multinational corporations into major developing regional markets is expected to impact other industrial categories positively. During the projection period, the engagement of governmental organizations in encouraging market development is expected to be crucial through the provision of particular incentives to draw global giants to certain locations and contribute to market development.
The prominent companies in the medical imaging market are Esaote SpA, Dentsply Sirona, Shimadzu Corporation, Flow Dental, Fujifilm Holdings Corporation, Fonar Corporation, Hologic, Inc., Hitachi Medical Corporation, Midmark Corp, LED Medical Diagnostics Inc., Carestream Health, Inc., 3M, Narang Medical Limited, G.E. Healthcare, Danaher Corporation, Samsung Medison Co. Ltd, Philips Healthcare, Toshiba Corporation, and Siemens Healthcare.
Dec 2021 Medo, a technology startup and global leader in using artificial intelligence (A.I.) and Medical Imaging Consultants (MIC), a radiology partnership, has announced a collaboration to revolutionize diagnostic imaging. The first partnership involves the development of an app that greatly simplifies thyroid tests. The use of artificial intelligence in MIC thyroid tests is only the beginning. The use of Medo’s technologies will greatly simplify and improve the objectivity and accuracy of many more examinations. This collaboration between two experts in ultrasound diagnostic imaging is an exciting first step in bridging the gap between technological and product innovation and its application in the real world.
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