Medical Imaging Workstations Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Medical Imaging Workstations Market


The global Medical Imaging Workstations market size is projected to reach US$ 7.15 billion by 2026, from US$ 4.71 billion in 2020, at a CAGR of 7.2% during 2021-2026. Increasing usage of medical imaging workstations for maintaining the healthcare records, information flow, and accurate diagnosis is majorly driving the growth. Introduction of technologically advanced and affordable systems is expected to further fuel the growth.
Paradigm shift towards automated systems for the diagnosis of diseases is contributing to the development and adoption of medical imaging workstations. Introduction of advanced imaging modules such as 3D and 4D is helping healthcare professionals to accurately diagnose the disease and take informed decisions. Integration of diagnostic systems with predictive analysis is expected to play a pivotal role during the forecast period.

Rising number of outpatient as well as ambulatory imaging centers is expected to drive the demand for medical imaging workstations during the forecast period. Rising demand for affordable diagnostic options in remote rural areas is expected to fuel the market growth lucratively during the forecast period.
The age of onset of chronic conditions such as stroke, cancer, diabetes, and heart diseases is decreasing drastically. Along with the age-related diseases, rising number of lifestyle associated chronic diseases are expected to boost the demand for preventive diagnostic tools. According to the National Center for Chronic Disease Prevention and Health Promotion, around 60% Americans are currently living with at least one chronic disease. Growing awareness about preventive healthcare, introduction of favorable reimbursement policies for preventive diagnosis, and introduction of advanced devices are the factors attributed to the swift market growth.

Market Segmentation, Outlook & Viewpoint: Global Medical Imaging Workstations Market

Usage mode Market Segmentation & Outlook (Revenue, USD Million, 2014- 2026)

  
Thick Client Workstations
  
Thin Client Workstations

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Conventional Imaging
  
Advanced Imaging

Component Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Visualization Software
  
Hardware

Modality Market Segmentation & Outlook (Revenue in USD Million and Volume in ˜000 Units, 2014- 2026)

  
Computed Tomography (CT)
  
Magnetic Resonance Imaging (MRI)
  
Ultrasound
  
Mammography

Key Players, Recent Developments & Regional Insights: Global Medical Imaging Workstations Market

Advanced imaging segment held the dominant share in the Medical Imaging Workstations Market in 2018 and is expected to continue its dominance during the forecast period. Advanced imaging covers workstations with state of the art displays screen and integration with advanced software. The software include predictive analytics and artificial intelligence in medical imaging. Along with these advancements introduction of novel radiation safety techniques are expected to increase the application of imaging radiology, and thus fuel the demand.
Advanced imaging systems are integrated with cloud-based technology, which increases the accessibility of the images captured by the device. Increasing accessibility towards the image will help reduce the chances of image duplication and patients exposure to radiation.

Conventional imaging provides diagnosis at affordable cost. Also, these conventional imaging systems require less interpretation time in comparison to advanced imaging systems. Moreover, these conventional imaging systems do not require skilled professionals.

Component Insights

Visualization software is expected to expand at a significant rate during the forecast period. These software helps precise and accurate understanding of complex set of data. This includes gathering large amount of data and presentation of the information in an understandable fashion Therefore, this helps medical professional to arrive at accurate diagnosis.

Hardware are cost-effective components to diagnose and present the data related to the disease. These include data processing and display units. Availability of affordable integrated circuits, smaller storage units, introduction of advanced  are expected to drive the segment throughout the forecast period.

Modality Insights

Computed Tomography (CT) holds the dominant market share. CT helps in showing detailed internal anatomy and hence helps in determining the treatment course. Usage of CT helps in reducing the hospital stay and improving patient convenience. Therefore, growing preference for CT over other diagnostic tools is expected to contribute to the segment growth during the forecast period.

Magnetic Resonance Imaging (MRI) is expected to witness significant growth during the forecast period, attributed to its major benefits such as noninvasiveness and ability to provide 3D images with the help of magnetic field and radio waves. Usage of MRI for diagnosis decreases the exposure to radiation and associated side-effects. Mammography and ultrasound are other segment under modality which are also expected to account significant growth in the forecasted period.

Regional Insights

North America held the largest market share in 2018. Presence of global players, favorable reimbursement scenario, and growing adoption of digital platforms for diagnosis are some of the factors expected to play an important role in regional market dynamics. The region is expected to continue its dominance till 2026.
Asia Pacific is anticipated to register the fastest CAGR during the forecast years. Increasing demand for advanced imaging and presence of local market players in countries such as China, India, and South Korea are some of the factors driving the regional growth.

Countries such as Thailand, India, and Malaysia are experiencing steep rise in medical facilities such as development of imaging centers and clinics. This is due to the increasing healthcare expenditure in these countries. In addition, rising funds in the form of investments made by public and private entities, is expected to drive the market during forecast period.

Medical Imaging Workstations Market Share Insights

Key players are Accuray Incorporated, CANON MEDICAL SYSTEMS CORPORATION, Carestream Health, Carl Zeiss Meditec AG, FUJIFILM Holdings Corporation, GE Healthcare, Koninklijke Philips N.V., NGI Group, and Siemens.
Frequent product launches and strengthening the product portfolio are some of the strategic initiatives taken by the key players. Presence of local market players in developing countries is increasing the reach of medical imaging workstation at lower prices. This will increase its adoption and in turn propel the overall market growth.

Key Insights Covered: Global Medical Imaging Workstations Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Medical Imaging Workstations industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Medical Imaging Workstations industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Medical Imaging Workstations industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Medical Imaging Workstations industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Medical Imaging Workstations industry.

Research Methodology: Global Medical Imaging Workstations Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other