Medical Imaging Market Projected to Reach USD 67.6 Billion by 2032

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Medical Imaging Market Projected to Reach USD
67.6 Billion by 2032
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• Industry Insights

• The medical imaging market is poised to showcase
  massive progress by 2030 owing to an increasing
  prevalence of chronic diseases. In addition,
  government emphasis on product awareness, along
  with rigorous RD in the field, are likely to
  augment market growth over the analysed timespan.
• Recently, the role of medical imaging emerged as
  an important solution to diagnose the severity of
  COVID-19. The omicron outbreak severely impacted
  infected patients by forming lymph nodes in the
  lungs which hampered their respiratory
  functionality. As a result, mammography and CT
  scans became crucial COVID-19 detection solutions
  in diagnostic centers and hospitals. Furthermore,
  usage of artificial intelligence in medical
  imaging has substantially boosted COVID-19
  detection.
• Moreover, the key participants in the medical
  imaging market have been focusing on rigorous
  innovations, strategic partnerships, and
  collaborations to impel their market position,
  thereby positively influencing the overall market
  growth.
• In November 2021, for instance, Samsung
  Electronics, a South Korean electronics
  corporation, showcased its advancements toward
  medical imaging solutions integrated with
  artificial intelligence at RSNA 2021, and
  introduced its ultrasound, digital radiography,
  and computed tomography solutions.

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• To cite yet another notable instance, in March
  2022, Canon Medical Systems, a leading medical
  equipment firm, acquired Nordisk Rontgen Teknik
  A/S, a Danish medical equipment firm. The
  acquisition is set to provide a considerable
  opportunity to the company and expand its
  business in its X-ray business in the European
  region with innovations in collaboration with
  Nordisk.
• In another instance, in July 2022, Siemens
  Healthineers, a German medical company, in
  collaboration with Subtle Medical, an AI solution
  provider for medical imaging equipment,
  introduced SubtleMR on the new Open Recon
  interface by Siemens. The innovation offers
  sharpness in MRI sequences, optimizes workflow,
  delivers improved quality, and supports better
  patient experience.
• The medical imaging market has been bifurcated in
  terms of end-use, product, and region.
• With regards to product, the industry has been
  divided into mammography, MRI, nuclear imaging,
  X-ray devices, computed tomography, and
  ultrasound.
• The computed tomography segment held around 15.8
  market share in 2021 and is further slated to
  grow significantly over analysis timeline. The
  growth is attributed to the widespread
  penetration of CT scans to detect tumours and
  diagnose other chronic diseases like
  cardiovascular diseases, orthopaedic disorders,
  and neurology diseases.

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• Regional Analysis

From a regional frame of reference, the Latin
America medical imaging industry is estimated to
progress at around 4.8 CAGR between 2022 and
2030 owing to the favourable government
initiatives to enhance healthcare facilities
across the LATAM region.

• Competitive Analysis

• Koninklijke Philips N.V
• Canon Medical Systems Corporation
• Fujifilm Holdings Corporation
• GE Healthcare
• Konica Minolta, Inc
• Hologic Inc
• Samsung Medison Co. Ltd
• Siemens Healthineers
• Carestream Health Inc
• Esaote SpA

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