Medical Digital Imaging Devices Market Scenario
The Medical Digital Imaging Devices Market is expected to reach USD 15.3 billion by 2030 at 8.2% CAGR during the forecast period 2022-2030. Medical digital imaging devices are devices used to image the body to obtain a correct diagnosis and determine future care. The growing demand for medical digital imaging devices is due to factors such as increasing incidence and prevalence of chronic diseases across the globe, technological advancements in the imaging systems, growing government investments for modernization of imaging facilities, and the rising number of diagnostic imaging centers are driving the market growth of diagnostic imaging. However, the high cost of diagnostic imaging systems, technological limitations associated with standalone systems, and unfavorable healthcare reforms in the US are the key factors limiting the growth of the medical digital imaging devices market.
Medical Digital Imaging Devices Market Segmentation
The Medical Digital Imaging Devices Market has been segmented into type, technology, and end user.
By type, the market has been segmented into X-ray, Computed Tomography, Ultrasound, MRI and Nuclear Imaging. The X-ray segment is expected to register the highest CAGR during the forecast period due to technological advancements.
On the basis of technology, the market has been segmented into 2D, B/W, Color, and 3D/4D.
The market, by end user, has been segmented into hospitals & clinics, diagnostic center, and others.
The medical digital imaging devices global market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.
The European market has been segmented into Western Europe and Eastern Europe. The Western Europe medical digital imaging devices industry has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The medical digital imaging market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
The Americas is the market leader and has an attractive for market is owing to the increasing prevalence of cardiovascular, neurological and ophthalmic disorders pertaining to rising geriatric population which is a major trigger factor. For instance, according to the US Census Bureau, in 2016, around 49.2 million residents were aged 65 and above. This huge older population led to over 15.2% of the total population which is likely to drive the market. Furthermore, the Americas is witnessing rampant advancements in technology, and increasing government initiatives, and funding for research in the medical devices sector is driving the medical digital imaging devices market growth.
Europe accounts for the second largest market and holds a healthy share in the global market due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure, and flourishing medical device industry due to the presence of major market players. Additionally, the rising prevalence of chronic disorders such as cardiovascular disorders, neurological disorders, among other disorders is driving the growth of the market.
Asia-Pacific is expected to be the fastest growing market, owing to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, and availability of favorable insurance policies. Moreover, due to lower cost of clinical trials, research key players have been setting up their regional headquarters and manufacturing plants in Singapore, China, Japan, Korea, and Australia which make a positive growth curve in medical digital imaging devices market in future.
The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates and Saudi Arabia is the largest market share owing to the development of the healthcare industry and the rising availability of specialty care centers.
Global Medical Digital Imaging Devices Market, by Type
Global Medical Digital Imaging Devices Market, by Technology
Global Medical Digital Imaging Devices Market, by End User
Global Market, by Region
Medical device manufacturer
Governments and investment communities
Research organizations and associations
|Market Size||USD 15.3 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Technology, And End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Esaote SPA, Canon Medical Systems Corporation, Hologic, Hitachi, Shimadzu|
|Key Market Opportunities||Research & development Activities|
|Key Market Drivers||Increasing prevalence of chronic diseases, growing government investments, and technological advances|
The Medical Digital Imaging Devices Market is expected to reach USD 15.3 billion by 2030 at 8.2% CAGR during the forecast period 2022-2030.
Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Esaote SPA, Canon Medical Systems Corporation, Hologic, Hitachi, Shimadzu are the key players in the market
Increasing prevalence of chronic diseases, growing government investments, and technological advances are boosting market growth.
Unfavorable healthcare reforms and high cost may deter the medical digital imaging devices market growth.
Diagnostic centers and hospitals & clinics are the different end user industries of medical digital imaging devices.