The global market for 3D medical imaging is estimated to register a CAGR of 5.93% during the forecasted period, 2020-2028. The increasing healthcare expenditure, rising demand for automation technologies in healthcare, and the growing geriatric population, are some of the important factors boosting the global market growth.
3D medical imaging is an innovative technique utilized for creating 3D images of the body parts for timely and accurate diagnosis for further medical intervention. There is an increasing demand for 3D medical imaging as a result of its increasing applications in oncology and cardiology. The healthcare sector is witnessing the significant adoption of technology. These technologies include electronic health records, predictive analysis, precision surgeries, robotics, etc. The 3D medical imaging systems aid the physicians in the diagnosis of chronic diseases, along with performing surgeries. The systems are also used for the examination of bones, nervous systems, muscles, etc. Moreover, the global healthcare expenditure is estimated to increase.
There are regulatory frameworks and stringent labeling requirements laid down by the regulatory bodies for the 3D medical imaging equipment. They need to undergo a safety examination due to their high-risk nature. Since these processes take a great deal of time, it results in delayed product launch, affecting the revenue of vendors. Also, the high installation and maintenance costs impede the market growth.
The global 3D medical imaging market is geographically analyzed through the market regions of Europe, North America, Asia Pacific, and the Rest of the World. As of 2019, the North American region dominated the market with regard to revenue share, and is estimated to hold the largest market share by the end of the forecasted period. This is attributed to the rising number of surgeries due to increased chronic disease cases. The Asia Pacific region is projected to be the fastest-growing market region as a result of the developing healthcare infrastructure, rising healthcare expenditure, increasing old-age population, etc.
Some of the renowned companies in the market include, Depuy Synthes, Fovia, Arterys, Ambra Health, Ge Healthcare, etc.
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