PUBLISHER: The Business Research Company | PRODUCT CODE: 1619741
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619741
A medical digital imaging system encompasses a range of technologies used to visualize the internal structures of the body for clinical analysis, diagnosis, and treatment. It replaces traditional film-based imaging with digital methods, offering quicker and more precise results, improved image storage, and enhanced image processing capabilities.
Key types of medical digital imaging systems include magnetic resonance imaging (MRI), x-ray, ultrasound, computed tomography (CT), nuclear imaging, and mammography. Magnetic resonance imaging (MRI) employs strong magnetic fields and radio waves to create detailed images of the body's organs and tissues. It utilizes various technologies such as 2D, 3D, and 4D imaging and is used by a range of end-users, including hospitals, diagnostic centers, specialty centers, and others.
The medical digital imaging systems market research report is one of a series of new reports from The Business Research Company that provides medical digital imaging systems market statistics, including medical digital imaging systems industry global market size, regional shares, competitors with a medical digital imaging systems market share, detailed medical digital imaging systems market segments, market trends and opportunities, and any further data you may need to thrive in the medical digital imaging systems industry. This medical digital imaging systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medical digital imaging systems market size has grown rapidly in recent years. It will grow from $18.39 billion in 2023 to $20.54 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth during the historic period can be attributed to increasing government initiatives, a growing geriatric population, a surge in demand for effective early diagnostic methods, rising healthcare expenditure, and a heightened demand for non-invasive procedures.
The medical digital imaging systems market size is expected to see rapid growth in the next few years. It will grow to $32.13 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth during the forecast period can be attributed to the rising demand for early detection tools, increasing government investments and funding, a growing need for non-invasive diagnostic devices, a rise in chronic diseases, and a higher incidence of lifestyle-related diseases. Key trends expected during this period include technological advancements, the integration of telemedicine, the incorporation of artificial intelligence (AI), the development of advanced visualization capabilities, and ongoing product innovations.
The growing prevalence of chronic conditions is expected to drive the expansion of the medical digital imaging systems market. Chronic conditions are persistent health issues that require ongoing management, such as diabetes, cardiovascular diseases, and respiratory disorders. The rise in chronic diseases is influenced by factors such as urbanization, genetic predisposition, and increasingly sedentary lifestyles. Medical digital imaging systems are crucial in detecting subtle changes in tissues and organs, enabling more precise diagnoses. These systems also allow physicians to compare historical and current scans to identify trends and patterns. For example, in June 2024, the Australian Institute of Health and Welfare reported that the age-standardized death rate due to chronic conditions increased from 459 per 100,000 population in 2021 to 490 per 100,000 in 2022. Consequently, the rise in chronic conditions is expected to drive demand for medical digital imaging systems.
Key players in the medical digital imaging systems market are focusing on developing AI-enhanced imaging technologies to boost diagnostic accuracy, accelerate image analysis, and aid in early disease detection. AI-enhanced imaging incorporates artificial intelligence into digital imaging systems to improve both accuracy and efficiency. For instance, in April 2024, GE Healthcare, a U.S.-based medical technology company, launched the AI-enhanced Voluson Signature 20 and 18 ultrasound systems, designed to advance women's health imaging. These systems use AI to enhance image quality, automatically detect fetal structures, and provide quicker, more accurate measurements, thereby reducing scan times and increasing diagnostic confidence. This innovation underscores the growing role of AI in specialized medical imaging, leading to more precise and efficient healthcare solutions for women.
In April 2024, Shimadzu Medical Systems USA, a U.S.-based medical diagnostic equipment provider, acquired California X-Ray Imaging Services Inc. for an undisclosed amount. This acquisition is intended to strengthen Shimadzu's service and support capabilities, expanding its medical imaging solutions to a wider customer base. By incorporating California X-Ray Imaging Services' expertise, Shimadzu aims to enhance its market presence and offer advanced imaging technologies to healthcare providers. California X-Ray Imaging Services Inc. is a U.S.-based provider of diagnostic medical imaging products and services.
Major companies operating in the medical digital imaging systems market are Samsung Electronics Co. Ltd., Hitachi Ltd., Siemens AG, Medtronic PLC, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Shimadzu Corporation, Agilent Technologies Inc., Hologic Inc., Mindray Medical International Limited, Bruker Corporation, Carestream Health Inc., Barco NV, Analogic Corporation, Esaote SpA, Canon Medical Systems Corporation, Ampronix LLC, Pie Medical Imaging B.V., Agfa-Gevaert Group, Alma Medical Imaging
North America was the largest region in the medical digital imaging systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical digital imaging systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the medical digital imaging systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The medical digital imaging system market consists of revenues earned by entities by providing services such as system installation and integration, preventive maintenance, software upgrades and customization and image analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The medical digital imaging system market also includes sales of fluoroscopy systems, picture archiving and communication systems, digital radiography detectors, mobile and portable imaging systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Medical Digital Imaging Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on medical digital imaging systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for medical digital imaging systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medical digital imaging systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.