Medical Imaging Market Regional Analysis and Forecast during 2020 – 2026

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Medical Imaging Market Study Key Driving Factors
and Business Strategies 2026

• Rapid innovations and advances in technology
  across the globe are anticipated to give global
  medical imaging market size a considerable boost
  in the forthcoming years. Likewise, strategic
  initiatives taken by the governments to
  accelerate the development of innovative medical
  imaging equipment will further augment overall
  industry expansion. According to Global Market
  Insights, Inc. estimates, the global medical
  imaging market size is expected to exceed 53
  billion by 2026.
• With the number of elderly populations on the
  rise, the disease burden has been surging
  worldwide. Emergence of AI in radiology, coupled
  with initiatives in developing underdeveloped
  economies to raise awareness about early disease
  diagnosis, may offer lucrative opportunities for
  medical imaging market growth over the forecast
  spell.

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• The ongoing COVID-19 pandemic has severely
  impacted businesses across the world. However,
  with the rising need for intensive care of these
  COVID-19 infected patients, the global market is
  likely to witness a major upsurge in the coming
  years, as medical imaging modalities can offer
  effective data on disease progression.

• Developed countries have been making high
  expenditure on the healthcare sector. Studies
  suggest that the U.S. spent twice the amount of
  expenses on healthcare as compared to other
  high-income countries such as Japan, Sweden, UK,
  and Germany, which can be attributed to the
  regions rapid adoption of medical imaging
  technology. These are the major factors
  contributing heavily to the rising popularity of
  medical imaging techniques.

• The segmental growth can be attributed to the
  product efficiency as it consumes less time in
  scanning compared to other products. CT scan can
  take around 30 seconds to 5 minutes, while an MRI
  scan takes 15 minutes to 2 hours, depending on
  the body parts. Several other advantages include
  effective imagining of bones and soft tissues,
  short installation time for portable CT scanners,
  as well as minimal logistic issues.

• With regards to the end-use spectrum, the
  hospital segment recorded a CAGR of over 5
  through 2026, as a result of increasing adoption
  of accurate and efficient medical imaging devices
  in hospitals.

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• Regional Analysis

• On the regional front, the Asia Pacific medical
  imaging industry registered remuneration worth
  8.5 billion in 2019, owing to the rapidly
  increasing advanced diagnostic device demand,
  along with a high prevalence of chronic diseases.

• Competitive Analysis

• The competitive landscape of the medical imaging
  market comprises of companies such as Siemens
  Healthineers, GE Healthcare, Fujifilm, Philips,
  Carestream Health, and Canon Medical Systems,
  among others. These firms are focusing on
  enhancing their market position by means of
  strategies including product launches and MA.
• For instance, Carestream Health has recently
  announced the launch of a new medical imaging
  device, CARESTREAM DRX-L Detector. The product
  will significantly drive productivity in
  hospitals as well as imaging centers. It can also
  decrease the radiation dose and discomfort of the
  patients.

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