Global Medical Digital Imaging System Market Size, Share, Growth Analysis, By Type(MRI, X-ray), By Technology(2D (BnW, Color)) - Industry Forecast 2024-2031

Report ID: SQMIG35A2161 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 65 | Figures: 75

Global Medical Digital Imaging System Market Dynamics

Medical Digital Imaging System Market Drivers

Launch of Novel Products to Bolster Market Growth

In the medical digital imaging system market, the prime development is due to expanding the number of product introductions by major enterprises to increase their consumer base and footprint. Mostly the market focuses on giving the best imaging products to patients and physicians. Due to the several innovations made in MRI, ultrasound, mammography, 3D imaging and nuclear imaging, most of the prominent partners in the medical digital imaging market are shifting their focus towards value-based radiology and imaging. The factors which contribute to the development of chronic diseases are Unhealthy diet, sedentary lifestyles, the use of tobacco and alcohol, and biological factors such as dyslipidaemias, hypertension, obesity, and hyperinsulinemia. The market growth is boosted due to chronic diseases.

Medical Digital Imaging System Market Restraints

High Cost to Hinder Market Growth

The high cost of the medical digital imaging system is the major restraint. The setup required for the medical digital system is very high, it is a very costly process. So, the region with high income will easily afford it but is not beneficial to everyone. Low market value is also caused by the lack of skilled workers and staff. To the patients, workers, and staff there is a high risk of radiation exposure which may create significant health issues due to the daily exposure to radiation. The market is also restricted due to the severe shortage of helium recorded in many countries in recent times, and the stringent regulations for approval. The repeated quality check and control of medical devices is hard to process.

Global Medical Digital Imaging System Market Report Snapshots

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Medical Digital Imaging System Market size was valued at USD 15.32 billion in 2019 and is poised to grow from USD 16.57 billion in 2023 to USD 31.45 billion by 2031, growing at a CAGR of 8.32% in the forecast period (2024-2031).

The Medical Digital Imaging System Market competitive landscape provides details by competitor. The global Medical Digital Imaging System Market is fragmented, with a few large and medium-sized players accounting for the majority of market revenue. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient technologies in the Medical Digital Imaging System Market. 'Siemens Healthineers', 'GE Healthcare', 'Philips Healthcare', 'Canon Medical Systems Corporation', 'Fujifilm Holdings Corporation', 'Koninklijke Philips N.V.', 'Hologic, Inc.', 'Shimadzu Corporation', 'Carestream Health', 'Hitachi Medical Corporation', 'Esaote SpA', 'Samsung Medison Co., Ltd.', 'Agfa-Gevaert Group', 'Mindray Medical International Limited', 'Toshiba Medical Systems Corporation', 'Analogic Corporation', 'Planmed Oy', 'Imaging Dynamics Company Ltd.', 'OrthoScan Inc.', 'Medtronic plc.'

In the medical digital imaging system market, the prime development is due to expanding the number of product introductions by major enterprises to increase their consumer base and footprint. Mostly the market focuses on giving the best imaging products to patients and physicians. Due to the several innovations made in MRI, ultrasound, mammography, 3D imaging and nuclear imaging, most of the prominent partners in the medical digital imaging market are shifting their focus towards value-based radiology and imaging. The factors which contribute to the development of chronic diseases are Unhealthy diet, sedentary lifestyles, the use of tobacco and alcohol, and biological factors such as dyslipidaemias, hypertension, obesity, and hyperinsulinemia. The market growth is boosted due to chronic diseases.

The market growth is impacted by factors such as Increasing demand for state-of-the-art imaging modalities by teaching hospitals and universities to provide training for advanced technology, the market is also expected to boost by, the adoption of AI to automate image quantification and identification process. For instance, to read all eye scans performed using an optical CT scanner, to ensure early detection of age-related macular degeneration, Google’s AI platform, named, Google’s Deepmind collaborated with Moorfields Eye Hospitals.

North America accounted for the largest market share and is expected to maintain its dominance over the forecast period, it accounts for the largest share of more than 33% in 2021, of the global revenue. North America dominance is contributed by factors such as High adoption of advanced technology and improved healthcare infrastructure, high purchasing power, favourable reimbursement framework, high frequency of new product launches. In 2021, in terms of GDP, North America accounts for the highest spending on healthcare, with the U.S spending nearly 19.7% GDP. The regional market is also driven by these factors, coupled with the increasing aging population, a rise in the cases of chronic diseases, and the growing trend of preventive diagnostic practices.

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Global Medical Digital Imaging System Market Size, Share, Growth Analysis, By Type(MRI, X-ray), By Technology(2D (BnW, Color)) - Industry Forecast 2024-2031

Global Medical Digital Imaging System Market Dynamics

Global Medical Digital Imaging System Market Report Snapshots

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