Australia Medical Imaging Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: Australia Medical Imaging Market

The medical imaging market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.5% in the forecast period of 2021 to 2028 and is expected to reach USD 1,027.40 million by 2028. Contrast agents improve the diagnostic imaging procedure and propel the demand of medical imaging technique driving the medical imaging market growth.

Medical imaging is a technique to form various internal images of the body for diagnosing and treating the disease. This technique is mainly helpful in improving people's health worldwide by early diagnosing internal disorders. Adding to this, it can also help provide the right treatment for a particular disease and even check on the conditions that have already been diagnosed and treated.

Increasing prevalence of chronic diseases has raised the demand of various types of advanced diagnostic medical imaging which drives the growth of the medical imaging market. Technology of medical imaging is continuously evolving, for this reason, the cost of medical imaging is very high which is hampering the growth of the medical imaging market. Medical imaging has grown extremely due to the advancement in technologies of imaging modalities which create major opportunity for the growth of the medical imaging market. Medical imaging modalities have stringent regulatory policies for commercializing the products into the market which acts as a challenge for the growth of the medical imaging market.

This medical imaging market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the medical imaging market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

Medical Imaging market Scope and Market Size

The medical imaging market is segmented on the basis of product, technology, application, modality, indication, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• On the basis of product, the medical imaging market is segmented into X-ray, MRI, ultrasound, CT, nuclear imaging, microscopy sytems and others. In 2021, CT segment dominates in the product segment as CT scan procedures are relatively safe than other procedures as patients are not exposed to radiation due to its comparatively low dose.
• On the basis of technology, the medical imaging market is segmented into 2D, 3D/4D, intraoperative 2D 3D and others. In 2021, 3D 4D segment is expected to dominate due to advanced features of video streaming with live recording of the mammography in the womb where live events can be seen.
• On the basis of application, the medical imaging market is segmented into diagnostic systems and interventional systems. In 2021, diagnostic systems segment is majorly used owing to wide adoption of CT scan, X-ray, ultrasound, MRI and molecular imaging due to its desirable characteristics such as quick detection along with correct diagnosis, rapid advancements in technology and many more.
• On the basis of modality, the medical imaging market is segmented into stationary system, portable/mobile system and point-of-care (POC) system. In 2021, stationary system segment acquires the largest share in the modality segment as due to high adoption and installation of fixed medical imaging devices in the hospital and imaging centers.
• On the basis of indication, the medical imaging market is segmented into cardiology, pelvic and abdominal, oncology, mammography, gynecology, neurology, urology, musculoskeletal, dental and others. In 2021, cardiology segment dominates the market with the largest market share due to the rising incidence rate of cardiologic diseases.
• On the basis of end user, the medical imaging market is segmented into hospitals, diagnostic centers, imaging centers, specialty clinics, ambulatory surgical centers, academic & research institutes and others. In 2021, the hospitals segment dominates the market with the largest share as hospitals are providing radiology services to in-house patient for various diseases.
• On the basis of distribution channel, the medical imaging market is segmented into direct tender, retail sales and third party distributor. In 2021, direct tender segment held the major share due to wide adoption of companies offering the equipment through the online platform that enhances the demand for the distribution channel.

Growing Healthcare Spending on Medical Imaging

The medical imaging market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in medical imaging market and changes in regulatory scenarios with their support for the medical imaging market. The data is available for historic period 2011 to 2019.

Competitive Landscape and Medical Imaging Market Share Analysis

The medical imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Australia medical imaging market.

The major players covered in the Australia medical imaging market report are the Siemens Healthineers AG, GE Healthcare (a subsidiary of GENERAL ELECTRIC), Hologic Inc., Shimadzu Corporation, FUJIFILM Corporation (a subsidiary of FUJIFILM HOLDINGS CORPORATION), Hitachi, Ltd., Carestream Health (a subsidiary of Onex Corporation), Canon Medical Systems ANZ Pty Limited (a subsidiary of Canon Medical Systems Corporation), Medtronic, ESAOTE SPA, Konica Minolta Business Solutions Australia Pty Ltd (a subsidiary of Konica Minolta, Inc.), Ziehm Imaging GmbH, Moxtek, Inc., Rigaku Corporation, YXLON International, SAMSUNGHEALTHCARE (a subsidiary of SAMSUNG), Koninklijke Philips N.V., Varian Medical Systems, Inc. among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Many product developments are also initiated by the companies worldwide which are also accelerating the growth of the medical imaging market.

For instance,

• In February 2021, Koninklijke Philips N.V. introduced ClarifEye Augmented Reality Surgical Navigation to advance minimally invasive spine procedures through unique 3D visualization technology that provides live feedback for the proper spine procedures. The company enhanced its service portfolio for imaging and augmented reality navigation into one Hybrid Operating Room system.

Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for medical imaging through expanded range of size.

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