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

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Medical Digital Imaging Systems Market


The global Medical Digital Imaging Systems market size is projected to reach US$ 28.37 billion by 2026, from US$ 18.18 billion in 2020, at a CAGR of 7.7% during 2021-2026. Surging demand for effective early diagnostic methods and widening base of aging population have been instrumental in driving the market. Technological advancements and increasing investments and funds by governments, especially in developing countries such as India and China, are also poised to stoke the growth of the market over the coming years.

Advancements in digital and communication technologies are have been augmenting the market. New imaging techniques provide accurate anatomical detail in most diagnostic radiology procedures. This has helped in expansion of application of medical digital imaging in exploratory surgery.

Positron emission tomography (PET)/computed tomography (CT) enable determination of metabolic information of PET and anatomic detail of CT simultaneously. High-resolution CT offers images with higher spatial resolution. Magnetic resonance imaging (MRI) is replacing older techniques such as CT, myelography, angiography, and arthrography.

In addition, advancements in digital imaging offer various clinical and economic benefits, such as instant access to radiology studies, lesser risk of data damage, and theft. Automation in procedures help in decreasing waiting time, thus, maximizing efficiency and returns on investment. These benefits help offset costs of equipment and infrastructure.

Market Segmentation, Outlook & Viewpoint: Global Medical Digital Imaging Systems Market

Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
X-ray
  
MRI
  
Ultrasound
  
CT
  
Nuclear Imaging

Technology Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
2D
  
BnW
  
Color
  
3D/4D

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

Based on products, the market has been segmented into X-ray, ultrasound systems, CT, MRI, and nuclear imaging. CT accounted for the largest share in the market in 2017. Nuclear imaging is anticipated to be the fastest growing segment during the forecast period. Development of new radiotracers, increasing prevalence of cancers and cardiovascular diseases, and introduction of new products through advancements are working in favor of the overall market.

According to the American Cancer Society, 1,762,450 new cancer cases are estimated to be reported in the U.S. in 2019. Development of radiotracers, such as Single Photon Emission Computed Tomography (SPECT) with technetium 99m radiotracers, which optimizes image quality with reduced radiation exposure, is estimated to contribute to the growth of the CT segment during the forecast period.

Insights

Based on technology, the global medical digital imaging systems market has been bifurcated into 2D and 3D/4D. 2D has been further divided into black and white (BnW) and color. 2D technology captured the largest share in 2017. The 3D technology is expected to witness the highest adoption rate in developed as well as developing regions.

Technological advancements in 3D/4D imaging technology help in accurate and efficient real-time visualization of human body, thereby minimizing distortion for patients. 4D imaging is 3D with real time movement. The global market for 3D and 4D devices is likely to experience lucrative growth in the forecast period owing to increasing adoption of these technologies such as fetal monitoring.

Regional Insights

Geographically, the market has been categorized into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominated the market in 2017 owing to high adoption of advanced technology and improved healthcare infrastructure, high purchasing power, and favorable reimbursement framework.

Asia Pacific is poised to exhibit the highest CAGR during the forecast period, mainly due to increasing government incentives and lower cost of clinical trials. Healthcare in the region is dominated by private healthcare services providers. Presence of international service provider companies such as Wockhardt Hospitals, Columbia Asia, and Fortis Healthcare is projected to boost level of competition in the private sector. Rapid growth in the medical tourism is anticipated to fuel the demand for advanced diagnostic methods in this highly competitive market.

Medical Digital Imaging Systems Market Share Insights

Some of the key players are Siemens Healthcare, Hitachi, GE Healthcare, Koninklijke Philips, Canon Medical Systems Corporation, Hologic, Medtronic, and Shimadzu Corporation. Regional and service portfolio expansions and mergers and acquisitions are among the key strategies adopted by these players to gain a higher share.
In March 2017, Hitachi Ltd. introduced its product ECHELON Smart, a mid-field strength MRI system. This system is incorporated with Hitachis silent scanning technology, which will enable safety and higher compliance for patients. It was exhibited at the European Congress of Radiology, following which it is was expected to be available commercially.

Key Insights Covered: Global Medical Digital Imaging Systems Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Medical Digital Imaging Systems industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Medical Digital Imaging Systems 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 Digital Imaging Systems industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Medical Digital Imaging Systems industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Medical Digital Imaging Systems industry.

Research Methodology: Global Medical Digital Imaging Systems 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