Medical Imaging Equipment Market, By Product Type (X-ray, Computed Tomography, Ultrasound System, MRI Equipment, Nuclear Imaging, Tactile Imaging, Photoacoustic Imaging, Thermography, Elastography, Echocardiography, and Functional Near-Infrared Spectroscopy), By Application (Cardiology, Orthopaedics, Gastroenterology, Gynaecology, Oncology, Neurology, and Others), By End Users (Diagnostic Imaging Centres, Hospitals, and Others), Industry Trends, Estimation & Forecast, 2014-2025

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The global Medical Imaging Equipment market is valued at XX million US$ in 2018 is expected to reach 51,338.46 million US$ by the end of 2025, growing at a CAGR of 6.87% during 2019-2025.
  • Market Overview

    The global Medical Imaging Equipment market is valued at XX million US$ in 2018 is expected to reach 51,338.46 million US$ by the end of 2025, growing at a CAGR of 6.87% during 2019-2025.

    Medical Imaging is a technique to visualize physical diagnosis techniques that fall under the medical imaging umbrella include Radiography (X-rays), Magnetic resonance imaging (MRI), Computed tomography (CT), Fluoroscopy, Ultrasound, Echocardiography, and Nuclear medicine, such as PET. Medical imaging is a technique used to create images of various parts of the human body for diagnostic and treatment purposes within digital health. The Medical Imaging technology information about the area of the body being studied or treated, related to possible disease, injury, or the effectiveness of medical treatment.

    Medical Imaging Equipment Market-value-2016-2025

     

    Market Driver

    The increasing prevalence of the chronic disease has created awareness regarding early diagnosis of these diseases, which is boosting the global medical imaging equipment market. For instance, Chronic disease is responsible for 60% of all deaths worldwide. In Americans, at least six in ten live with one of chronic disease, like heart disease, cancer, stroke, or diabetes. In 2017, 30.3 million adults had diabetes. Diabetes is the seventh leading cause of death in the United States. In 2017, an estimate of 86% of deaths and 77% of the disease burden in the European region due to non-communicable diseases. Around 630,000 Americans die from heart disease each year. Coronary heart disease is the most common type of heart disease, killing about 366,000 people in 2015. By 2020 chronic disease is expected to rise to 73% of all deaths and 60% of the global burden of disease. Moreover, 79% of the deaths attributed to chronic diseases occur in developing countries. Four of the most prominent chronic diseases are cardiovascular diseases (CVD), cancer, chronic obstructive pulmonary disease, and type 2 diabetes.

    Market Restraint

    Machines such as MRI system, X-ray, Ultrasound, Computed Tomography (CT) system, and Single Photon Emission Computed Tomography (SPECT) are highly expensive machines, which might hamper the global medical imaging equipment. Further, the room which hosts these machines cost even more and adds to the overall cost of the system. Due to the cost of the machine, medical diagnostic imaging is a costly business for patients. According to NerdWallet Health, the average cost of an MRI in the U.S. was $2,611. Diagnostic Imaging Cost has increased in recent years. The medical imaging costs increased an average of 7.8% per year; imaging costs increased by 8.3% per year. Although highly variable over the study period, as a percentage of total imaging costs, CT and MR imaging costs appeared to remain stable relative to costs of other imaging modalities. Stringent tax policies, which allow only philanthropic and public healthcare institutions to purchase medical devices without paying tax, heighten device prices, and further dissuade small clinics and private hospitals from procuring imaging diagnostic equipment.

    Segment Analysis

    Based on product type, the global Medical Imaging Equipment market is broadly segmented as X-Ray, Computed Tomography, Ultrasound System, MRI Equipment, Nuclear Imaging, Tactile Imaging, Photoacoustic Imaging, Thermography, Elastography, Echocardiography, and Functional Near-Infrared Spectroscopy. In 2018 X-Ray is the dominant segment, and it accounts for approximately 35% of the market.

    X-rays are a type of radiation called electromagnetic waves. X-ray imaging creates pictures of the inside body. Calcium in bones absorbs x-rays the most, so bones look white. Fat and other soft tissues absorb less and look grey. Air absorbs x-rays the least, so lungs look black.

    The increasing regulatory approval for X-ray is boosting the global Medical Imaging Equipment market. For instance, on June 15, 2019, MedicaTech, have received FDA approval of their modular and fully customizable, MasteRad, Digital X-Ray system. The software behind MasteRad is Voyance. Voyance is fully loaded with time-saving features, including advanced tools, one-page design, and fast database search. Moreover, on May 13, 2019, Zebra Medical Vision, the deep learning imaging analytics company, has received FDA 510(k) clearance for HealthPNX, an AI alert for pneumothorax (PNX), based on chest X-rays. Chest X-rays are one of the world’s most used imaging modalities.

    Medical Imaging Equipment Market-by-application-2018

    Ultrasound System is showing significant growth in 2018, and it is expected to increase in the upcoming years, due to the increasing regulatory approvals. For instance, on October 13, 2017, SONOSCANNER, a French company specializing in ultrasound systems, have received the Food and Drug Administration’s approval (FDA) to market its new multi-purpose device, the U-lite EXP, in the United States. U-lite EXP is the second generation of the ultraportable ultrasound scanner, the U-lite EXP, offers improved diagnostic performance through a better image definition.

    Regional Analysis

    The global Medical Imaging Equipment market is segmented into North America, Europe, Asia Pacific, South America, ROW.

    North America is dominating the global Medical Imaging Equipment market, due to the growing incidence of chronic diseases in the U.S. For instance, According to National Cancer Institute, in 2018, around 1,735,350 new cases of cancer have been diagnosed in the United States and 609,640 people have died from the disease. In 2016, there were 15.5 million cancer cases in the United States. The number of cancer cases is expected to increase to 20.3 million by 2026. According to the American Diabetes Association, in 2015, 30.3 million Americans, or 9.4% of the population, had diabetes. Approximately 1.25 million American have type 1 diabetes. In 2015, Diabetes was the 7th leading cause of death in the United States, with 79,535 death.

    The regulatory approval for an MRI scanner is boosting the North America Medical Imaging Equipment market. For instance, on May 23, 2018, Siemens Healthineers, has received the Food and Drug Administration (FDA) approval for the MAGNETOM Sola, a 1.5 Tesla magnetic resonance imaging (MRI) scanner. The MAGNETOM Sola helps healthcare providers perform a full range of routine and complex MRI exams while accelerating workflow and delivering consistent results across all patient types.

    The North America Medical Imaging Equipment market size was XX million USD in 2018, and it will be 12912.07 million USD in 2025, with a CAGR 6.43% from 2019 to 2025.

    Europe is the second-largest market for Medical Imaging Equipment in 2018, due to the growing incidence of chronic diseases in the European region. For instance, according to the Diabetes UK, the number of people living with all types of diabetes has reached 4.7 million in 2018. The number of people affected by diabetes is expected to reach 5.5 million by 2030. According to the British Heart Foundation, around 7.4 million people are living with heart and circulatory disease in the UK, which include 3.9 million men and 3.5 million women in 2018.

    The regulatory approval for ultrasound systems is boosting the Europe Medical Imaging Equipment market. For instance, on March 16, 2018, Exact Imaging, has received CE Mark Approval for its FusionVu Micro-Ultrasound/MRI Fusion application. Operating on the ExactVu micro-ultrasound system, FusionVu allows urologists to perform either cognitive fusion via Cognitive Assist or micro-ultrasound/MR fusion on the high-resolution platform.

    Competitive Analysis

    The major players include GE Healthcare, Siemens Healthcare, Carestream Health Inc., Hitachi Medical Corporation, Canon Toshiba Medical Systems Corporation, Hologic Corporation, Philips Healthcare, Allengers Medical Systems Ltd, Fujifilm Holdings Corporation, and Shimadzu Corporation

    The increasing investment for the development of medical imaging is boosting the global Medical Imaging Equipment market. For instance, January 31, 2019, more than 120 Companies developing machine-learning solutions for medical imaging have received more than $1.2 billion in capital investments since 2014. Investments in medical imaging AI companies had grown significantly since 2017 when total investments reached $270 million. In 2018, total investments reached $580 million.

    The strategic agreement between companies to increase their revenue and market share for medical imaging equipment is boosting the For instance, in March 2, 2018, Royal Philips, and Hologic, Inc., have signed a partnership agreement to offer care professionals integrated solutions comprising diagnostic imaging modalities, advanced informatics, and services for screening, diagnosis, and treatment of women across the world. The collaboration combines Hologic’s innovative mammography technologies and Philips’ leading portfolio of ultrasound, MRI, CT, and X-ray systems, advanced informatics and a broad range of services, including maintenance, upgrade training and operational performance management services.

    Global Medical Imaging Equipment Market

    • Consumption by Regions
      • North America
      • Europe
      • China
      • Japan
      • Rest of the World
    • Segment by Product Type
      • X-Ray
      • Computed Tomography
      • Ultrasound System
      • MRI Equipment
      • Nuclear Imaging
      • Tactile Imaging
      • Photoacoustic Imaging
      • Thermography
      • Elastography
      • Echocardiography
      • Functional Near-Infrared Spectroscopy
    • Segment by Application
      • Cardiology
      • Orthopedics
      • Gastroenterology
      • Gynecology
      • Oncology
      • Neurology
      • Others
    • Segment by End Users
      • Diagnostic Imaging Centres
      • Hospitals
      • Others
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  • Table of Content

    1. Market Introduction
    1.1. Executive Summary
    1.2. Market Definition
    1.3. Market Scope

    2. Research Methodology
    2.1. Primary Research
    2.2. Research Methodology
    2.3. Assumptions & Exclusions
    2.4. Secondary data sources

    3. Medical Imaging Equipment Market Overview
    3.1. Report Segmentation & Scope
    3.2. Key Market Trend
    3.3. Drivers
    3.3.1. Increasing Prevalence of Chronic Diseases
    3.3.2. Increasing Investments, Funds, and Grants By Government Bodies and companies for Modernization of Imaging Facilities
    3.4. Restraints
    3.4.1. The high cost of Diagnostic Imaging System
    3.5. Opportunity
    3.5.1. Increasing Adoption of New Technologies
    3.6. Porter’s Five Forces Analysis
    3.6.1. Porter’s Five Forces Analysis
    3.7. Market Share Analysis

    4. Product Type Overview
    4.1. Introduction
    4.1.1. Market Size & Forecast
    4.2. X-Ray
    4.2.1. Market Size & Forecast
    4.3. Computed Tomography
    4.3.1. Market Size & Forecast
    4.4. Ultrasound System
    4.4.1. Market Size & Forecast
    4.5. MRI Equipment
    4.5.1. Market Size & Forecast
    4.6. Nuclear Imaging
    4.6.1. Market Size & Forecast
    4.7. Tactile Imaging
    4.7.1. Market Size & Forecast
    4.8. Photoacoustic Imaging
    4.8.1. Market Size & Forecast
    4.9. Thermography
    4.9.1. Market Size & Forecast
    4.10. Elastography
    4.10.1. Market Size & Forecast
    4.11. Others
    4.11.1. Market Size & Forecast

    5. Application Overview
    5.1. Introduction
    5.1.1. Market Size & Forecast
    5.2. Cardiology
    5.2.1. Market Size & Forecast
    5.3. Orthopaedics
    5.3.1. Market Size & Forecast
    5.4. Gastroenterology
    5.4.1. Market Size & Forecast
    5.5. Gynaecology
    5.5.1. Market Size & Forecast
    5.6. Oncology
    5.6.1. Market Size & Forecast
    5.7. Neurology
    5.7.1. Market Size & Forecast
    5.8. Others
    5.8.1. Market Size & Forecast

    6. End-User Overview
    6.1. Introduction
    6.1.1. Market Size & Forecast
    6.2. Diagnostic Imaging Centers
    6.2.1. Market Size & Forecast
    6.3. Hospitals
    6.3.1. Market Size & Forecast
    6.4. Others
    6.4.1. Market Size & Forecast

    7. Medical Imaging Equipment Market Regional Overview
    7.1. Introduction
    7.1.1. Market Size & Forecast
    7.2. North America Medical Imaging Equipment Market
    7.2.1. North America Market Size & Forecast, By Country
    7.2.2. North America Market Size & Forecast, By Product Type
    7.2.3. North America Market Size & Forecast, By Application
    7.2.4. North America Market Size & Forecast, By End User
    7.2.5. The U.S.
    7.2.5.1. Market Size and Forecast
    7.2.6. Canada
    7.2.6.1. Market Size and Forecast
    7.2.7. Mexico
    7.2.7.1. Market Size and Forecast
    7.3. Europe Medical Imaging Equipment Market
    7.3.1. Europe Market Size & Forecast, By Country
    7.3.2. Europe Market Size & Forecast, By Product Type
    7.3.3. Europe Market Size & Forecast, By Application
    7.3.4. Europe Market Size & Forecast, By End User
    7.3.5. Germany
    7.3.5.1. Market Size and Forecast
    7.3.6. France
    7.3.6.1. Market Size and Forecast
    7.3.7. UK
    7.3.7.1. Market Size and Forecast
    7.3.8. Italy
    7.3.8.1. Market Size and Forecast
    7.3.9. Spain
    7.3.9.1. Market Size and Forecast
    7.3.10. Rest of Europe
    7.3.10.1. Market Size and Forecast
    7.4. Asia-Pacific Medical Imaging Equipment Market
    7.4.1. Asia-Pacific Market Size & Forecast, By Country
    7.4.2. Asia-Pacific Market Size & Forecast, By Product Type
    7.4.3. Asia-Pacific Market Size & Forecast, By Application
    7.4.4. Asia-Pacific Market Size & Forecast, By End User
    7.4.5. Japan
    7.4.5.1. Market Size and Forecast
    7.4.6. China
    7.4.6.1. Market Size and Forecast
    7.4.7. Australia
    7.4.7.1. Market Size and Forecast
    7.4.8. India
    7.4.8.1. Market Size and Forecast
    7.4.9. South Korea
    7.4.9.1. Market Size and Forecast
    7.4.10. Rest of Asia-Pacific
    7.4.10.1. Market Size and Forecast
    7.5. Rest of the World Medical Imaging Equipment Market
    7.5.1. Rest of the World Market Size & Forecast, By Country
    7.5.2. Rest of the World Market Size & Forecast, By Product Type
    7.5.3. Rest of the World Market Size & Forecast, By Application
    7.5.4. Rest of the World Market Size & Forecast, By End User
    7.5.5. South America
    7.5.5.1. Market Size and Forecast
    7.5.6. Middle East
    7.5.6.1. Market Size and Forecast
    7.5.7. Africa
    7.5.7.1. Market Size and Forecast

    8. Company Profile
    8.1. GE Healthcare
    8.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
    8.1.2. GE Healthcare Product Category, Application, and Specification
    8.1.3. GE Healthcare Financial Performance (2016-2018)
    8.1.4. Main Business/Business Overview
    8.2. Siemens Healthcare
    8.3. Carestream Health Inc.
    8.4. Hitachi Medical Corporation
    8.5. Canon Toshiba Medical Systems Corporation
    8.6. Hologic Corporation
    8.7. Philips Healthcare
    8.8. Allengers Medical Systems Ltd
    8.9. Fujifilm Holdings Corporation
    8.10. Shimadzu Corporation

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    • The following manufacturers are covered:
      • GE Healthcare
      • Siemens Healthcare
      • Carestream Health Inc.
      • Hitachi Medical Corporation
      • Canon Toshiba Medical Systems Corporation
      • Hologic Corporation
      • Philips Healthcare
      • Allengers Medical Systems Ltd
      • Fujifilm Holdings Corporation
      • Shimadzu Corporation
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