Global Medical Digital Imaging Systems Market – Industry Trends and Forecast to 2029

Global Medical Digital Imaging Systems Market, By Type of Test (X-Ray, MRI, Ultrasound, CT, Nuclear Imaging), Technology (2D, 3D/4D), Application (Cardiology, Oncology, Neurology, Urology, Gynecology, Others), End Use (Hospitals, Diagnostic Imaging Centers, Others) – Industry Trends and Forecast to 2029.

Medical Digital Imaging Systems Market Analysis and Size

The medical digital imaging systems market has undergone tremendous changes over the years, exhibiting exponential growth rates. The increased demand for early disease diagnosis is the primary driver of this growth. For a better and earlier diagnosis of their patients' disorders, doctors are more dependent than ever on imaging technologies, and more when the market expands.

Data Bridge Market Research analyses that the medical digital imaging systems market which was USD 15.1 billion in 2021, would rocket up to USD 28.72 billion by 2029, and is expected to undergo a CAGR of 8.37% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Medical Digital Imaging Systems Market Scope and Segmentation      

Market Definition

A medical digital imaging system refers to the use of imaging devices to get a better look inside the human body to make an early diagnosis of disease. X-ray systems, computed tomography scanners, ultrasound systems, MRI systems, nuclear imaging systems and mammography systems are some major modalities helping to diagnose diseases early.

Medical Digital Imaging Systems Market Dynamics

Drivers

• Increasing chronic diseases

Early disease diagnosis is becoming increasingly important as the prevalence of chronic diseases rises. Nearly 60% of American people have at least one chronic illness, and nearly 40% have two or more, according to the Centers for Disease Control and Prevention (CDC). Due to this urgent requirement for early diagnosis, there is an ever-increasing reliance on medical digital imaging systems market.

• Rising number of geriatric population

Age also raises the likelihood of contracting an illness. Therefore, the increased use of medical imaging diagnostic systems is a result of the growing number of older people with acute and chronic diseases like cancer and cardiovascular diseases. In addition, numerous regional and national governments are pushing these imaging diagnosis processes to save healthcare costs and improve patient care in general. As a result, more patients worldwide are undergoing MRI, CT, and X-ray scans.

All of these issues are increasing people's reliance on medical digital imaging systems, which in turn is growing the market for those devices.

Opportunities

• Technological advancement and increasing investment 

Medical imaging is an integral part of the diagnostic process. From ultrasounds to MRIs to CT scans, radiologists need and use medical imaging to properly diagnose and treat diseases. Doctors also use medical imaging technologies to determine whether a particular therapy has been effective in patients.

• Increased demands in hospitals

The demand for medical digital imaging systems among hospitals will increase along with the industry's good growth rates. Medical imaging system sales to hospitals are anticipated to expand at a 5% annual pace through 2027. Hospitals are largely reliant on medical imaging modalities like MRI and CT scans as a result of the increased demand for pre-diagnosis for the majority of ailments.

Additionally, a significant portion of the expansion of this market may be attributed to hospitals' tendency to automate and digitalize the workflow for radiology patients and to use more invasive diagnostic equipment to enhance patient care. These factors will create tremendous opportunities for the growth of the digital imaging systems market.

Restraints/Challenges

On the other hand, the high cost and lack of reimbursement policies will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the medical digital imaging systems market.

This medical digital imaging systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical digital imaging systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Medical Digital Imaging Systems Market

The COVID-19 outbreak had a negative impact on the global market. Important market segments had a general negative impact as a result of the sharp decline in patient appointments with hospitals. Additionally, the pandemic severely hampered the demand for molecular imaging tools and magnetic resonance imaging (MRI) systems.

Recent Development

• In September 2020, Hologic and Micrima Ltd., a breast imaging business, struck a distribution deal. The business will disseminate the brand-new MARIA radio-wave breast imaging system. In accordance with the terms of the contract, Hologic will represent Micrima as its sales and distribution partner in Germany, Austria, and Switzerland (DACH). To lower the amount of breast cancer deaths, Micrima has been attempting to create a breast imaging system that may be used often from a young age.
• In August 2020, Hologic partnered with RadNet, Inc., a pioneer in the field of fixed-site, high-quality outpatient diagnostic imaging services. The goal of the collaboration was to advance the application of artificial intelligence (A.I.) to breast health. To train and improve its current and upcoming artificial intelligence-based products, Hologic would contribute the skills and knowledge behind its industry-leading hardware and software as well as gain access to the data generated by RadNet's fleet of high-resolution mammography systems, the largest in the country.

Global Medical Digital Imaging Systems Market Scope

The medical digital imaging systems market is segmented on the basis of type of test, application, technology, and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type of Test

• X-Ray
• MRI
• Ultrasound
• CT
• Nuclear Imaging

 Technology

• 2D
• 3D/4D

Application

• Cardiology
• Oncology
• Neurology
• Urology
• Gynecology
• Others

 End Use

• Hospitals
• Diagnostic Imaging Centers
• Others

Medical Digital Imaging Systems Market Regional Analysis/Insights

The medical digital imaging systems market is analysed and market size insights and trends are provided by country, type of test, application, technology, and end use as referenced above.

The countries covered in the medical digital imaging systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the medical digital imaging systems market due to rising demand for early efficient device for early detection of problems like cancer.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to increasing number of patients with rising geriatric population with advancement in technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The medical digital imaging systems market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical digital imaging systems market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical digital imaging systems market. The data is available for historic period 2010-2020.

Competitive Landscape and Medical Digital Imaging Systems Market Share Analysis

The medical digital imaging systems 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical digital imaging systems market.

Some of the major players operating in the medical digital imaging systems market are:

• General Electric (U.S.)
• Hitachi, Ltd. (Japan)
• Shimadzu Corporation (Japan)
• Siemens (Erlangen, Germany)
• Koninklijke Philips N.V. (Netherlands)
• Hologic, Inc. (U.S.)
• SAMSUNG (Seoul, South Korea)
• Fujifilm Holdings Corporation (Tokyo, Japan)
• Esaote SPA (Italy)
• Canon Medical Systems Corporation (Japan)
• Shanghai United Imaging Healthcare Co., LTD. (China)
• Agfa-Gevaert Group (Belgium)
• Barco (Belgium)
• Agilent Technologies, Inc. (U.S.)
• ALMA IT SYSTEMS SL (Spain)
• Pie Medical Imaging B.V. (Netherlands)
• Ampronix (U.S.)
• Capsa Healthcare (U.S.)
• Carestream Healthcare (U.S.)