Overview:

The global medical imaging equipment market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Medical imaging equipment is a device that provides visual representation inside of the body for diagnosis and treatment purpose. These devices include X-ray devices, CT scanners, ultrasound systems, MRI equipment, and nuclear imaging equipment.

Market Dynamics:

Rising incidence of chronic diseases across the globe and rising demand from hospitals for advanced imaging devices which are highly precise and accurate are major factors driving growth of the global medical imaging equipment market. Also, increasing government focus on development and advancement of healthcare infrastructure specifically in emerging economies is another major factor supporting growth of the target market. Additionally, growing investment in R&D activities by major players is among the other factors expected to further positively impact the market growth.

In addition, rising medical tourism, availability of favorable insurance policies, and technological advancements are other key factors expected to support growth of the target market in the near future. For instance, in December 2019, Siemens Healthineers has introduced AI-based assistants for magnetic resonance imaging in Radiology Society of North America (RSNA) 2019 conference.

However, factors such as stringent government regulation related to product approval and increasing incidence of product recalls are expected to hamper growth of the global medical imaging equipment market to a certain extent. Furthermore, lack of skilled professionals to handle advanced imaging devices in developing counties is expected to challenge the product adoption. This is another factor expected to hamper growth of the target market over the forecast period.

Key Trends:

Growing preference for technological advancements among major players is a key trend expected to support growth of the global medical imaging equipment market. For example, in November 2018, Siemens Healthcare GmbH a leading manufacturer has launched two new magnetic resonance imaging scanners and AI-Rad Companion Chest CT – an AI based software assistant for radiology at the RSNA 2018 conference. These products are expected to help the company to strengthen its position in the global market.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America region holds major revenue share in the global medical imaging equipment market. However, Asia Pacific medical imaging equipment market is expected to hold significant market share in the target market. This is owing to increasing government spending in healthcare sector development in countries such as China and India.

In addition, rising key players presence in countries and growing number of consumer base are other factors expected to support growth of the target market in the region. The Europe holds second largest market share in the global market.

Scope of the Report:

Detailed Segmentation:

Global Medical Imaging Equipment Market, By Product Type:

• Magnetic Resonance Imaging Equipment
• Computed Tomography Equipment
  • Stationary
  • Mobile
• X-ray Equipment
  • Stationary
  • Portable
• Ultrasound Equipment
• Nuclear Imaging Equipment
  • SPECT Scanner
  • PET Scanner

Global Medical Imaging Equipment Market, By Application:

• Cardiology
• Neurology
• Orthopedics
• Gynecology
• Oncology
• Others

Global Medical Imaging Equipment Market, By End User:

• Hospitals
• Diagnostic Imaging Centers
• Others

Key Players Covered:

Key players operating in the global medical imaging equipment market include, General Electric Company, Hitachi Medical Corporation, Shimadzu Corporation, Siemens Healthineers AG, Samsung Healthcare, Canon Medical Systems Corporation, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Supersonic Imagine, and Hologic, Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Medical Imaging Equipment Market by product type, application, end user, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global medical imaging equipment market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.