Global Medical Digital Imaging Systems Market is valued at approximately USD 16.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2020-2027. The medical digital imaging system signifies the deployment of several types of imaging modalities which are used to develop visual demonstrations of the interior body parts for diagnostic and therapeutic purposes. Thus, it plays an essential role in the improvement of the health of the patient. The medical digital imaging system is modernized from bedside monitoring to the high-end digital imaging system. The use of medical digital imaging systems is highly regulated by the Digital Imaging and Communication in Medicine (DICOM) Standard globally, to transmit, store, and exchange the medical digital images. The DICOM Standard includes protocols for imaging techniques, such as radiography, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and radiation therapy. Therefore, this factor is expected to accelerate the market growth around the world. Moreover, increasing prevalence of chronic conditions, such as cancer and cardiovascular diseases, rise in adoption of diagnostic imaging, and growing demand for non-invasive diagnostic and therapeutic devices are the few factors responsible for the high CAGR of the market during the forecast period. As per the International Agency for Research on Cancer (IARC), more than 17.0 million new cancer cases and 9.5 million deaths due to cancer were registered in 2018 worldwide and is expected to increase to almost 27.5 million new cancer cases and 16.3 million cancer deaths by the year 2040. This, in turn, is expected to accelerate the demand for Medical Digital Imaging Systems, thus contributing to the growth of the global market. The outbreak of COVID-19 has created a higher demand for screening options, therefore, imaging is mostly preferred by healthcare professionals since it provides a crucial diagnosis in a limited time. All the imaging modalities have been used intensively to examine COVID-19 and its effect on several patients in each demography. This is likely to influence the adoption of medical digital imaging systems around the world. However, the high cost of diagnostic systems & procedures, along with the risk of high radiation are the few factors impeding the growth of the market over the forecast period of 2020-2027.
The regional analysis of the global Medical Digital Imaging Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of advanced technology and the presence of well-developed healthcare infrastructure in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing government support and lower cost of a clinical trial, along with improving healthcare infrastructure would create lucrative opportunities for the market growth in the Asia-Pacific region.
Major market player included in this report are:
Koninklijke Philips N.V.
Canon Medical Systems Corporation
Hitachi Medical Corp.
Carestream Health, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Computed Tomography (CT)
Magnetic Resonance Imaging (MRI)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Medical Digital Imaging Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers