MEDICAL IMAGING EQUIPMENT MARKET ANALYSIS

Medical Imaging Equipment MarketSize and Trends

The global medical imaging equipment market is estimated to be valued at US$ 45.0 billion in 2023 and is expected to exhibit a CAGR of 5.3% during the forecast period (2023-2030).

Market Trends:

Global Medical Imaging Equipment Market Segmentation:

The global medical imaging equipment market report is segmented into product type, modality, application, end user, and region.

Based on Product type, the global medical imaging equipment market is segmented into Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Nuclear Imaging, Ultrasound, X-ray, and Others. Out of which, Magnetic Resonance Imaging (MRI) segment is expected to dominate the global medical imaging equipment market during the forecast period, and this is due to increasing number of collaboration and partnership agreement between the market players.

Based on Modality, the global medical imaging equipment market is segmented into Standalone and Portable. Out of which, standalone segment is expected to dominate the global medical imaging equipment market during the forecast period, owing to increasing product launch by the market players.

Based on Application, the global medical imaging equipment market is segmented into Orthopedic, Cardiology, Oncology, Neurology, Gynecology and Others. Out of which, Cardiology segment is expected to dominate the global medical imaging equipment market during the forecast period owing to increasing prevalence of cardiological disease globally

Based on End user, the global medical imaging equipment market is segmented into hospitals, diagnostic centers, specialty clinics, ambulatory surgical centers, and others which include academic & research institutes and among Others. The hospitals segment is expected to dominate the market over the forecast period, owing to the increasing availability of fluoroscopy in the hospitals. For instance, in May 2021, Turner Imaging Systems, a developer of advanced X-ray imaging systems, announced that the company had received its CE (European conformity) Mark for its Smart-C Mini C-Arm portable fluoroscopy x-ray imaging device. This will make it possible to distribute the Smart-C, the first highly portable micro c-arm in the EU in addition to the UK. In the U.S., the Smart-C is being deployed in hospitals, ambulatory surgical centers, orthopedic clinics, as well as professional and collegiate sports teams.

Among all the segmentations, the product type segment has the highest potential due to the increasing collaboration between the key market players. For instance, in July  2022, Canon Medical Systems Corporation, a medical equipment company, announced the expansion of distributorship with the acquisition of NXC imaging, a medical imaging equipment distributor and service provider. This acquisition is expected to broaden and advance Canon Medical Systems’ U.S. sales and service outreach in the northern portion of the U.S.