Global Medical Imaging Market Forecast to 2024
- October, 2018
- Domain: Healthcare - Medical Devices
- Get Free 10% Customization in this Report
This market research report includes a detailed segmentation of the global Medical Imaging market by product type (X-ray, MRI, CT, Ultrasound and Nuclear Imaging), by portability (Portable and Fixed), end-users (Hospitals, ASC, Diagnostics Centers, and others), and by region (North America, Europe, APAC, and RoW). The market research report identifies Siemens Healthcare, GE Healthcare, Philips Healthcare, Toshiba Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp. as the major vendors operating in the global Medical Imaging market.
Overview of the Medical Imaging Market
Infoholic’s market research report predicts that the global Medical Imaging market is expected to grow at a CAGR of 5.8% during the forecast period 2018–2024.
According to the Medical Imaging market report analysis, the US and Canada were the leading countries owing to the highest number of diagnostic cases in 2017. North America dominates the overall presence of medical imaging and has the most diversified X-ray systems available in the market. It has the highest percentage of elderly population with many individuals with chronic diseases such as CVD, diabetes, obesity, high blood pressure, and other urology related factors. This has attracted most of the vendors to sustain and grow over the period and maintain their product presence in the market.
Europe is the second leading region and held more than 25% of the market share in 2017. The market in Europe was largely driven by advances in medical imaging technologies. Factors such as increase in the prevalence of diseases, continuous adoption of advanced technologies, and increasing aging population are driving the market. The leading countries are Germany, France, UK, and Italy in the market. The APAC region was the fastest growing region in the global Medical Imaging market in 2017.
Medical Imaging Market Competitive Analysis and Key Vendors
The global Medical Imaging market has immense growth opportunities in both developed and developing regions. The market in the developed countries is witnessing an increased adoption of medical imaging systems for high quality imaging, screening and diagnosing due to improved access and encouragement from the government & other healthcare institutions, especially in the US, Canada, France, Germany, and the UK.
The advances in technology and product upgradation is expected to increase the competition among the vendors. The market is highly dynamic with the presence of few big players who account for more than 65% share of the overall market. Siemens Healthcare, GE Healthcare, Philips Healthcare, Canon Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp. dominated the market in 2017. Other companies like Carestream Health, Shimadzu Medical, Hologic, and Esaote SpA have negligible share and is expected compete strongly with the leading vendors in the market. The benefits such as safety, high quality images, easy monitoring and analysis of 3D images, obtaining high resolution images to show small breast cancers, and combination with multi-imaging systems have increased the demand of medical imaging devices in the market.
Medical Imaging Market Key competitive facts
- The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
- The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.
Some of the key vendors in the Medical Imaging market are:
- Siemens Healthcare
- GE Healthcare
- Philips Healthcare
- Toshiba Medical Systems
- Hitachi Medical
- Fujifilm Holdings Corp.
Medical Imaging Market by Product
- Nuclear Imaging
In 2017, X-ray segment occupied a significant market share and is expected to maintain the highest market share during the forecast period.
Medical Imaging Market by Portability
In 2017, the Fixed Medical Imaging Device segment occupied a significant market share and is expected to maintain the highest market share during the forecast period.
Medical Imaging Market by End-users
- Diagnostics Centers
In 2017, the hospitals occupied the highest market share in the global medical imaging market.
Medical Imaging Market Benefits
The report provides detailed information about the usage and adoption of Medical Imaging market in therapeutic verticals and regions. With that, key stakeholders can find out the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the adoption of medical devices segment in the upcoming years in the market. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the Medical Imaging market.
1 Industry Outlook
1.1 Medical Devices Industry
1.1.3 Medical technologies
1.1.4 Industry Trends
1.2 Healthcare Spending in the US
1.3 Regulatory Bodies & Standards
1.4 Reimbursement Scenario
1.5 Emerging Global Markets
1.6 Patient Demographics
1.7 Medical Imaging
1.7.2 Definition: Medical Imaging
1.7.3 Why Medical Imaging?
1.7.4 Evolution of X-ray Technology
1.7.5 PESTLE Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Opportunity Analysis
3.4 Strategic Initiatives
3.5 Related Markets
3.5.1 Ultrasound Devices
3.5.2 Medical X-ray Equipment
3.5.3 MRI Equipment
3.5.4 Mammography Devices
3.5.5 Healthcare X-ray Detectors
3.6 Porter 5 (Five) Forces
4 Market Characteristics
4.1 Market Segmentation
4.1.1 General X-ray
4.1.4 CT Scan
4.1.5 Nuclear imaging
4.2 Medical Imaging Market, By Portability
4.2.1 Portable Medical Imaging
4.2.2 Fixed Medical Imaging Market
4.3 Medical Imaging Market, By Imaging Type
4.3.1 2D Imaging
4.3.2 3D Imaging
4.3.3 4D imaging
4.3.4 5D imaging
4.4 Market Dynamics
188.8.131.52 Increase in adoption of advanced imaging systems
184.108.40.206 Rise in number of diagnostic centers
220.127.116.11 Government focuses towards cost-effective treatment to public
18.104.22.168 Rise in demand of multi-modal imaging
22.214.171.124 Widespread applications of medical imaging
126.96.36.199 High cost of imaging devices
188.8.131.52 Unfavorable reimbursement plans
184.108.40.206 Intense competition among vendors
220.127.116.11 Lack of skilled radiologists
18.104.22.168 Medical imaging to integrate with IT
22.214.171.124 Development in medical imaging
126.96.36.199 Introduction of artificial intelligence to aid radiology
188.8.131.52 Early prevention and diagnosis
184.108.40.206 Big data and analytical tools to enhance healthcare interoperability
4.4.4 DRO – Impact Analysis
4.5 Key Stakeholders
5 Industry Trends
5.1 Market Trends & Impact
6 Buying Criteria
7.3 Ambulatory Care
7.3.1 ASCs in the Americas
7.3.2 ASCs in EMEA
7.3.3 ASCs in APAC
7.4 Diagnostic Centers
7.5 Others (Research Centers, Non-Profit Organizations, and Nursing Home)
8.2 North America
220.127.116.11 Key factors driving the market
18.104.22.168 Snapshot of North America
22.214.171.124 Key factors driving the market
126.96.36.199 Snapshot of Europe
188.8.131.52 Snapshot of APAC
8.5 Rest of the World
184.108.40.206 Snapshot of ROW
9 Market Attractiveness
9.2 Market Attractiveness by End-users
10 Competitive Landscape
10.1 Competitor Comparison Analysis
10.1.1 Key Competitive Facts
11 Vendors Profile
11.1 GE Healthcare
11.1.2 Business Units
11.1.3 Geographic Revenue
11.1.4 Business Focus
11.1.5 SWOT Analysis
11.1.6 Business Strategies
11.2 Philips Healthcare
11.2.2 Business Units
11.2.3 Geographic Revenue
11.2.4 Business Focus
11.2.5 SWOT Analysis
11.2.6 Business Strategies
11.3 Siemens Healthineers Inc.
11.3.2 Business Units
11.3.3 Geographic Revenue
11.3.4 Business Focus
11.3.5 SWOT Analysis
11.3.6 Business Strategies
11.4 Fujifilm Holdings Corp.
11.4.2 Business Units
11.4.3 Geographic Revenue
11.4.4 Business Focus
11.4.5 SWOT Analysis
11.4.6 Business Strategies
11.5 Canon Medical Systems Corp.
11.5.2 Business Segments
11.5.3 Geographic Revenue
11.5.4 Business Focus
11.5.5 SWOT Analysis
11.5.6 Business Strategies
11.6 Hitachi Medical Corp.
11.6.2 Business Units
11.6.3 Geographic Revenue
11.6.4 Business Focus
11.6.5 SWOT Analysis
11.6.6 Business Strategies
12 Companies to Watch for
12.1 Shimadzu Corp.
12.1.2 Key Highlights
12.1.3 Key News
12.2 Thales Group
12.2.2 Key Highlights
12.2.3 Key News
12.3 Agfa-Gevaert N.V.
12.3.2 Key Highlights
12.3.3 Key News
12.4 Carestream Health Inc.
12.4.2 Key Highlights
12.4.3 Key News
12.5 Hologic Corp.
12.5.2 Key Highlights
12.5.3 Key News
13 Other Prominent Vendors
TABLE 1 MEDICAL DEVICES BY CATEGORY 30
TABLE 2 TOP LISTED MEDICAL DEVICES COMPANY 2018 31
TABLE 3 GENERAL X-RAY SYSTEMS MARKET OUTLOOK 42
TABLE 4 MRI MARKET OUTLOOK 44
TABLE 5 ULTRASOUND MARKET OUTLOOK 45
TABLE 6 CT SCAN MARKET OUTLOOK 47
TABLE 7 NUCLEAR IMAGING SYSTEMS MARKET OUTLOOK 48
TABLE 8 GLOBAL MEDICAL IMAGING MARKET BY END-USERS 67
TABLE 9 GLOBAL MEDICAL IMAGING REVENUE BY REGIONS FORECAST, 2018–2024 ($MILLION) 70
TABLE 10 COMPETITIVE STRUCTURE ANALYSIS OF GLOBAL MEDICAL IMAGING MARKET (2017) 88
TABLE 11 GE HEALTHCARE: PRODUCT OFFERINGS 89
TABLE 12 GE HEALTHCARE: RECENT DEVELOPMENTS 90
TABLE 13 PHILIPS HEALTHCARE: PRODUCT OFFERINGS 97
TABLE 14 PHILIPS HEALTHCARE: RECENT DEVELOPMENTS 98
TABLE 15 SIEMENS HEALTHINEERS INC.: RECENT DEVELOPMENTS 106
TABLE 16 SIEMENS HEALTHINEERS INC.: RECENT DEVELOPMENTS 109
TABLE 17 FUJIFILM HOLDINGS CORP.: OFFERINGS 115
TABLE 18 FUJIFILM HOLDINGS CORP.: RECENT DEVELOPMENTS 116
TABLE 19 CANON MEDICAL SYSTEMS CORP.: OFFERINGS 122
TABLE 20 CANON MEDICAL SYSTEMS CORP.: RECENT DEVELOPMENTS 123
TABLE 21 HITACHI MEDICAL CORP.: OFFERINGS 127
TABLE 22 HITACHI MEDICAL CORP.: RECENT DEVELOPMENTS 128
TABLE 23 SHIMADZU CORP.: SNAPSHOT 132
TABLE 24 THALES GROUP: SNAPSHOT 133
TABLE 25 AGFA-GEVAERT N.V.: SNAPSHOT 134
TABLE 26 CARESTREAM HEALTH INC.: SNAPSHOT 135
TABLE 27 HOLOGIC CORP.: SNAPSHOT 137
TABLE 28 OTHER PROMINENT VENDORS IN THE MEDICAL IMAGING MARKET 138
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.