Medical Imaging Equipment Market

Global Medical Imaging Equipment Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2024-2030 The medical imaging equipment industry (also referred to as diagnostic imaging) has demonstrated strong growth in recent years, accelerated by the increased demands on global healthcare systems resulting from the impacts of the SARS-CoV-2 (COVID-19) pandemic.

Global Medical Imaging Equipment Market is valued at US$ 30,539.9 Million in 2023 and it is expected to generate absolute dollar opportunity of US$ 38,268.9 Million by 2029.

Scope of Global Medical Imaging Equipment Market

Modern healthcare depends on the capabilities of non-invasive imaging technologies to visualize the human body's internal functions and status for diagnosis, analysis, and monitoring. Imaging systems find use in every sector of healthcare, including wellness and screening as well as diagnosis, clinical decision support, post-treatment monitoring, and even home care monitoring. By leveraging improved analytic methods and combining different imaging modalities, advances continue to be made in medical imaging systems' capability, safety, and efficiency.

Additionally, the techniques used to produce a visualization include the use of sound waves, electromagnetic radiation, and magnetic fields. While research into new, more advanced techniques of processing data continues to expand the types and applications of medical imaging equipment such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), single photon emission computed tomography (SPECT), ultrasound (U/S), X-rays, and others, medical imaging equipment (MIE) may also include types of equipment that measure the interior of a body but are not primarily used to produce visual representations, such as electroencephalography or electrocardiography.

Furthermore, healthcare organizations that purchase and use medical imaging equipment are broadly committed to the use of sustainable purchasing practices as a way to minimize the social and environmental impact of their operations. The development and use of sustainability criteria allow purchasers to communicate a consistent set of sustainable procurement requirements to manufacturers and monitor their own organizational impacts.

Key Players of Medical Imaging Equipment Market Report-

The medical imaging equipment industry boasts a competitive landscape with several leading companies shaping its evolution. GE Healthcare stands out with its comprehensive array of MRI, CT, ultrasound, and X-ray systems. Siemens Healthineers follows closely, renowned for innovative medical imaging solutions and healthcare IT integration. Philips Healthcare excels in MRI, CT, ultrasound, and nuclear medicine technologies, while Canon Medical Systems offers a wide range of diagnostic imaging solutions including CT, MRI, ultrasound, and X-ray. These companies, alongside notable players like Hitachi Healthcare, Hologic, Carestream Health, Shimadzu Corporation, Fujifilm Medical Systems, Agfa-Gevaert Group, Samsung Healthcare, Ziehm Imaging, ESAOTE, Mindray Medical International, Varian Medical Systems, Konica Minolta Healthcare, Neusoft Medical Systems, Planmed, Analogic Corporation, and Toshiba America Medical Systems, continue to lead the charge in advancing medical imaging capabilities worldwide.

What significant has happened recently in Medical Imaging Equipment Market market

Notably, in 2023, GE HealthCare inked an agreement with Axim Life Isotopes South Africa (Pty) Ltd. (ALISA), a joint venture between Life Healthcare and the AXIM Group of Companies, to enhance medical imaging provision in South Africa through the delivery of two Cyclotrons capable of producing radioisotopes crucial for medical imaging scans.

On December 28, 2023, Probo Medical a prominent global provider of medical imaging equipment, parts, repair, and services, has finalized a definitive purchase agreement to acquire Alpha Source Group. This acquisition significantly enhances Probo's diagnostic imaging solutions platform. Alpha Source Group includes its subsidiaries, Alpha Source Biomed Solutions, BC Technical Imaging Solutions, and Medical Optics Surgical Solutions.

Market Analysis

Increasing Prevalence of Chronic Diseases Drives the Expansion of the Medical Imaging Equipment Market

The upsurge in the occurrence of chronic diseases stands as a major projection propelling the expansion of the medical imaging equipment market. Medical imaging assumes a pivotal role in the timely detection and diagnosis of diverse chronic conditions, encompassing cardiovascular disorders, cancer, diabetes, and respiratory ailments. This early identification facilitates prompt intervention and treatment, which is crucial for improving patient outcomes. For example, according to findings from the Global Burden of Disease (GBD) study, India exhibits a cardiovascular disease (CVD) death rate of 272 per 100,000 population, surpassing the global average of 235. Additionally, a 2022 report on 'Accidental Deaths and Suicides in India' reveals that the number of deaths attributed to heart failure ranged from 25,000 to 28,000 in the 2021 years. Furthermore, projections from the American Cancer Organization anticipate approximately 1.9 million new cancer cases and 609,360 cancer-related deaths in the United States in 2022. The World Health Organization (WHO) Europe reports that diabetes affects 52 million individuals.

Advanced medical imaging technologies play a pivotal role in assisting healthcare professionals struggling with chronic diseases. These technologies also facilitate the ongoing monitoring of disease progression and the effectiveness of treatments. They are instrumental in formulating comprehensive treatment plans for individuals guiding minimally invasive therapeutic interventions, including image-guided surgeries, radiation therapy, and targeted drug delivery, thereby contributing to more efficacious and less invasive treatments for chronic conditions. Routine imaging assessments enable healthcare providers to monitor the longitudinal progression of chronic diseases, offering invaluable data for adjusting treatment plans and optimizing patient care. Consequently, the escalating prevalence of chronic diseases spurs continuous research and development efforts within the medical imaging sector. Innovations in imaging technologies are geared towards enhancing diagnostic precision, improving imaging resolution, and introducing new modalities tailored to specific chronic conditions.

Consequently, there is an increasing demand for medical imaging equipment to address the intricate healthcare requirements associated with these conditions. In essence, the mounting prevalence of chronic diseases emerges as a driving force propelling the growth of the medical imaging equipment market.

Amplifying Government Initiatives as well as Growing Investment in Upgrading Medical Facilities Strives the Market Growth

Government initiatives aimed at enhancing healthcare infrastructure and investments in upgrading medical facilities play pivotal roles in fostering the growth of the medical imaging equipment market. These concerted efforts from governmental bodies contribute significantly to advancing the capabilities and accessibility of medical imaging technologies.

• In the United States and Canada, government initiatives focus on funding healthcare infrastructure improvements and supporting the adoption of advanced medical technologies. Programs such as the Affordable Care Act in the U.S. have provisions for upgrading healthcare facilities and enhancing diagnostic capabilities. The NIH, particularly the National Institute of Biomedical Imaging and Bioengineering (NIBIB), supports research and development in the field of medical imaging. Researchers can apply for grants and funding through various NIH mechanisms. Also, The U.S. Department of Defense (DoD) may fund medical imaging research as part of broader health and medical research initiatives. This is particularly true for technologies that have applications in military medicine and healthcare
• European countries, through their national health systems, implement initiatives to modernize healthcare infrastructure. Funding programs and collaborations with private entities contribute to the procurement and integration of advanced medical imaging equipment. In the United Kingdom, the National Institute for Health Research (NIHR) provides funding for healthcare research. Public-private collaborations may also occur through initiatives from the National Health Service (NHS) and research councils.
• Countries in the Asia-Pacific region, including Japan, China, and South Korea, have witnessed substantial investments in healthcare infrastructure. Governments in these countries are actively promoting the adoption of modern medical imaging technologies to improve diagnostic services. According to the International Trade Administration, the medical device, diagnostic imaging, and consumables constituted nearly 50% of the market value. As a result, government initiatives to improve healthcare infrastructure, along with investments in upgrading medical facilities, contribute to the growth of the medical imaging equipment market.

Ongoing Technological Advancements Is Driving the Medical Imaging Equipment Market Growth

Ongoing technological advancements, including the development of high-resolution imaging modalities, 3D imaging, and artificial intelligence (AI) integration, are boosting the medical imaging equipment market. These innovations enhance diagnostic accuracy and many more. For example, In February 2023, FUJIFILM India, an initiate in healthcare imaging and information systems, revealed the expansion of its product and solutions portfolio of the Indian Radiological and Imaging Association (IRIA). FUJIFILM India showed revolutionary diagnostic machines. The new range includes ultrasound system Arietta 850 DeepInsight and Arietta 650 DeepInsight by with the new MRI machine APERTO Lucent Non DICOM printer APEOS. Additionally, the company also created “FUJIFILM Connect” a service & support mobile application. Also, in November 2023, Royal Philips, a global leader in health technology, declared the world’s first mobile MRI system with helium-free operations at #RSNA23.

The upgrading of imaging facilities enhances diagnostic capabilities, enabling healthcare professionals to conduct more sophisticated and precise medical imaging studies. This capability is crucial for early detection, accurate diagnosis, and effective treatment planning. The broader development of healthcare infrastructure also emphasizes specialized services, ensuring that healthcare facilities are equipped to provide a comprehensive range of medical services, including specialized diagnostic procedures. Therefore, enduring technological advancements is driving the medical imaging equipment market growth.

Restraint;-

High Cost Is One of The Significant Challenge That the Medical Imaging Equipment Market Faces Globally

The elevated expenses associated with medical imaging equipment are impeding the market's expansion, making it difficult for many to adopt cutting-edge technology and advanced features. The pricing of medical imaging equipment varies significantly based on the features and capabilities it incorporates. In recent times, there has been a notable advancement in medical imaging equipment, with the inclusion of more sophisticated features.

Maven Imaging, a well-regarded provider of various digital X-ray systems, notes that the average cost of X-ray machines can vary widely depending on factors such as type, size, and technology. Generally, the price range for X-ray machines spans from a few thousand to several hundred thousand dollars. Portable X-ray machines, designed for easy transport and commonly used by professionals like veterinarians, chiropractors, and podiatrists, tend to be more affordable, ranging from $5,000 to $60,000. On the other hand, traditional stationary systems, prevalent in orthopedic, general X-ray, and urgent care offices, are pricier, starting around $35,000 and extending up to $200,000 or more. The increased cost is attributed to the advanced technology, superior image quality, and faster processing times offered by these systems.

Similarly, according to Bimedis, an international online medical equipment trading platform, the costs of medical imaging equipment vary widely, starting at approximately $55 and reaching as high as $550,000. In India, the pricing for high-quality medical imaging equipment is also substantial, with an MRI machine costing around Rs. 10 crore, a digital X-ray machine ranging from Rs. 1.5 to 2.5 crore, and an advanced CT machine priced between Rs. 13 crore and Rs. 16 crores, as reported by Reliance Commercial Finance Limited.

The primary challenge faced by the medical imaging equipment market is the very expensive cost associated with procuring and maintaining advanced imaging technologies. The initial investment in acquiring sophisticated medical imaging equipment, such as MRI machines, CT scanners, or PET scanners, is significant. Additionally, ongoing expenses related to maintenance, upgrades, and training personnel for the operation of these complex systems contribute substantially to the overall cost of ownership. This financial burden is particularly challenging for small to medium-sized healthcare facilities, clinics, and hospitals with limited budgets, leading to disparities in access to state-of-the-art diagnostic technologies. The substantial capital expense involved in acquiring digital X-ray systems is a major constraint for healthcare facilities, including hospitals, clinics, and imaging centers, where budget constraints can strain financial resources. Hence, the high costs pose a significant obstacle to the growth of the medical imaging equipment market globally.

Stringent Regulations and Complexity Affects Hinder the Growth of Global Medical Imaging Equipment Market

The medical imaging industry is subject to stringent regulations and standards to ensure patient safety, data security, and the efficacy of diagnostic procedures. Adhering to these regulations requires substantial investments in research and development, testing, and documentation. For example, the U.S. Food and Drug Administration (FDA) has been worried with minimizing the excessive radiation exposure of people for half a century. Manufacturers of medical X-ray imaging devices are important partners in this endeavor. Medical X-ray imaging devices are regulated by the FDA under both its electronic product rules and its medical device regulations. Additionally, in the European Union, medical imaging equipment must carry the CE marking, indicating compliance with the European Medical Devices Directive (MDD) or the new Medical Devices Regulation (MDR). The CE marking demonstrates that the equipment meets essential health and safety requirements and has undergone conformity assessment procedures. Moreover, the International Organization for Standardization (ISO) has developed standards specific to medical imaging equipment. For example, ISO 13485 relates to quality management for medical devices, and ISO 14971 focuses on risk management for medical devices.

As in numerous aspects of medicine, there are risks associated with the use of X-ray imaging, which utilizes ionizing radiation to generate images of the body. Ionizing radiation is a found of radiation that has enough energy to potentially cause damage to DNA. The National Cancer Institute shows a small increase in the possibility that a person exposed to X-rays developed cancer later in life. Also, tissue effects such as cataracts, skin reddening, and hair loss, which occur at relatively high levels of radiation exposure and are rare for many types of imaging exams.

Furthermore, the complexity of regulatory processes in different regions and countries can pose challenges for companies operating in the global market. Navigating varied regulatory landscapes adds an additional layer of complexity, making it more difficult for companies to introduce their products in multiple regions simultaneously. So, regulatory challenges and compliance issues can serve as a restraining factor for the medical imaging equipment market by increasing development costs, extending timelines, and creating uncertainties in the approval process.

Lack Of Skilled Professionals in Emergency Services May Hamper The Growth Of The Medical Imaging Equipment Market Growth

Lack of skilled professionals in emergency services can hamper the growth of the medical imaging equipment market. Skilled professionals, including medical assistants, emergency medical technicians (EMTs), and other healthcare personnel, play a vital role in the effective use and operation of medical imaging equipment. Several factors contribute to the potential hampering of medical imaging equipment market growth due to a lack of skilled professionals in emergency services.

• Medical imaging equipment, such as CT scans, MRIs, and X-ray machines, is sophisticated and requires specialized training to operate. Insufficiently trained professionals may struggle to use the equipment correctly, leading to inaccurate diagnoses or compromised patient care.
• In emergency situations, quick and accurate imaging is crucial for making timely decisions about patient treatment. A shortage of skilled professionals may lead to delays, increasing the risk of patient safety.
• Without adequately trained personnel, medical facilities may struggle to optimize the use of expensive imaging equipment. This can result in underutilization or misuse of these technologies, impacting the return on investment for healthcare providers.
• Skilled professionals are essential for interpreting medical images accurately. A shortage of expertise may result in misinterpretations, missed diagnoses, or unnecessary treatments, affecting patient outcomes and overall healthcare quality.

Adopting the shortage of skilled professionals in emergency services requires a multi-faceted approach. This includes investments in training and education programs, offering competitive salaries and benefits to attract and retain professionals, and promoting careers in emergency medical services. Collaboration between healthcare organizations, educational institutions, and government agencies is crucial to developing initiatives that can bridge the skills gap and ensure an adequate supply of skilled professionals in the future.

Geography Analysis:

North America:

The demand for medical imaging equipment market in North America in terms of revenue was worth US$ 10,842.2 Million in 2023 and is expected to reach US$ 13,001.1 Million in 2029 growing at a CAGR of 3.1% over the forecast period.

Constant Advancement of Medical Imaging Technology Such as MRI (Magnetic Resonance Imaging), CT (Computed Tomography), Ultrasound and X-ray etc. Flourishing the Market Expansion

Excessive adoption of medical imaging equipment has led many businesses to invest millions of dollars in the market. GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems Corporation, Hitachi Medical Systems, and others are North American leader in medical imaging, including MRI technology. Hologic, Inc., Shimadzu Corporation, Carestream Health, Inc., Medtronic plc, Agfa-Gevaert Group and many others are North American leader in medical imaging, including CT technology. Mindray, Samsung Medison, Fujifilm SonoSite, Inc., SuperSonic Imagine, Analogic Corporation and others are North American leader in medical imaging, including ultrasound technology. Agfa Healthcare, Carestream Health, GMM Pfaudler Limited, Summit Industries, Inc., and others are North American leader in medical imaging, including X-Ray technology.

For example, in June 2023, GE HealthCare declared the FDA's approval and introduction of Sonic DL, an advanced technology based on deep learning. This innovation is crafted to speed up image acquisition in magnetic resonance imaging (MRI). In July 2020, Hologic, Inc. has introduced the SuperSonic MACH 40 ultrasound system in the United States, further diversifying the company's range of ultrasound technologies by adding its inaugural premium, cart-based system. This new system boasts exceptional image quality, sets industry standards with its imaging modes, and is strategically designed to improve both efficiency and accuracy. Moreover, in 2022, Shimadzu has unveiled the XSeeker 8000, a bench-top X-ray CT system. Remarkably, it holds the distinction of being the world's smallest (dimensions: W893 x D650 x H526 mm) and lightest (weighing 290 kg) high X-ray output (160 kV) CT system. This cutting-edge technology delivers clear images across a diverse range of samples, spanning from resin molded parts to aluminum die-cast and various metallic components.

This factor is creating favorable conditions for medical imaging equipment and enhancing their revenue stream in the North American region.

Uplifting Demographic Population in North America Region Flourishing the Market Expansion.

The aging population in North America, as well as in many other countries, has been a significant driver for the increased demand for medical imaging equipment.

As people age, they are more prone to various chronic diseases such as cardiovascular diseases, cancer, neurodegenerative disorders, and musculoskeletal issues become more prevalent with age. According to the American Health Ranking, according to 2022 data, nearly 58 million adults ages 65 and older live in the U.S. According to the Population Reference Bureau article, the projected number of Americans aged 65 and older is expected to nearly double, increasing from 52 million in 2018 to 95 million by the year 2060. Additionally, the share of the total population represented by individuals aged 65 and older is anticipated to rise from 16 percent to 23 percent during this period. Medical imaging, including techniques like CT scans, MRIs, and X-rays, plays a crucial role in the early detection and management of these conditions. According to the article, more than 70 million CT scans are currently obtained in the United States per year and this figure continues to grow each year. and conditions that often necessitate medical imaging for accurate diagnosis, treatment planning, and ongoing monitoring.

Elderly individuals may have complex health issues that require more precise and detailed diagnostic imaging. Advanced imaging technologies enable healthcare professionals to obtain high-resolution images, aiding in accurate diagnosis and treatment planning. The screening programs for age-related diseases, such as breast cancer screening with mammography or colorectal cancer screening with CT colonography, contribute to the demand for medical imaging among older populations. Women aged 55 and above have the option to transition to mammograms every two years or can choose to maintain annual screenings. The decision to continue screening should be based on a woman's overall health and the expectation of a lifespan of 10 years or more. So, chronic conditions often require long-term monitoring to track disease progression and treatment effectiveness. Medical imaging is essential for monitoring changes in the body over time and adjusting treatment plans accordingly.

Moreover, aging is associated with an increased incidence of orthopedic conditions, such as osteoarthritis (OA) and fractures. According to the American Association, nearly 43% of people with OA are 65 or older and 88% of people with OA are 45 or older. Imaging modalities like X-rays and MRIs are commonly used for assessing musculoskeletal health in the elderly.

As the aging population continues to grow, the demand for these medical imaging techniques is likely to persist, emphasizing the importance of these technologies in modern healthcare for both diagnosis and ongoing management of age-related health conditions

Europe region:

The demand for medical imaging equipment market in Europe in terms of revenue was worth US$ 9,048.3 Million in 2023 and is expected to reach US$ 11,200.8 Million in 2029 growing at a CAGR of 3.6% over the forecast period.

Rising Occurrence of Cancer is Fueling the Need for Advanced Medical Imaging Equipment Market in Europe.

Rising cancer continues to be a significant health concern in Europe. The increasing incidence of cancer has led to a growing demand for advanced medical imaging equipment, including AI solutions, to aid in early detection and effective management of the disease. As the incidence of cancer continues to rise, the demand for more advanced and accurate imaging technologies has also increased. For example, according to the WHO, Breast cancer is the most common cancer in women in the Europe region with an anticipated incidence of 576,300 in 2020. As well, according to the European Commission's estimates published in the European Cancer Information System (ECIS), new cancer cases rose by 2.3% compared to 2020, to reach 2.74 million in 2022. Similarly, cancer deaths went up by 2.4 % compared to 2020. Imaging technologies, such as mammography, ultrasound, and magnetic resonance imaging (MRI), are essential tools in the detection and diagnosis of cancer. However, these methods can sometimes be limited in their sensitivity and specificity, leading to the need for more advanced solutions as well as improved diagnostic capabilities. These technologies enhance the ability to detect and characterize cancerous lesions.

Numerous European nations have instituted cancer screening programs to identify the disease in its early stages, often incorporating medical imaging equipment for screening and consequently boosting the demand for such devices. In Europe, Croatia, Poland, Italy, and Romania stand out as the only countries that have officially committed to establishing nationwide, organized LDCT screening programs, specifically targeting high-risk individuals. Meanwhile, other countries exercise caution in allocating resources to lung cancer screening initiatives. The utilization of medical imaging is crucial for both treatment planning and monitoring the progress of cancer therapies. According to the NIH, an estimated 4 million new cancer cases (excluding non-melanoma skin cancer) and 1.9 million cancer-related deaths occur annually. In Europe, cancer ranks as the second leading cause of death and morbidity, with over 3.7 million new cases and 1.9 million deaths each year, according to the NIH. Oncologists rely on imaging techniques to assess tumor size and location, gauge therapy response and make informed decisions regarding the treatment course. So, the rising occurrence of cancer is fueling an increased need for medical imaging equipment in Europe, leading to a growing demand for such technology.

Government Initiatives and Healthcare Infrastructure Development Led to Push the Demand for Medical Imaging Equipment

Government initiatives and the ongoing development of healthcare infrastructure are contributing to the increased demand for medical imaging equipment in Europe. As countries prioritize the improvement of healthcare services, investments in advanced medical technology, including imaging equipment, play a crucial role in enhancing diagnostic capabilities and overall patient care.

• Germany has a well-established healthcare system and is known for its investments in medical technology. The German government and healthcare authorities may allocate funds for infrastructure development and the procurement of advanced medical imaging equipment. For example, The German Research Foundation (DFG) has initiated a novel priority program in Artificial Intelligence (AI) imaging named "Radiomics: Next Generation Medical Imaging." Over the next three years, the program received funding exceeding 8 million euros.
• France has a robust healthcare system, and the government may invest in infrastructure projects to enhance healthcare services. The French government could support the acquisition of advanced medical imaging technology to improve diagnostic capabilities.
• The National Health Service (NHS) in the United Kingdom is a significant player in healthcare. The UK government may invest in healthcare infrastructure and technology, including medical imaging equipment, to strengthen diagnostic capabilities.
• Switzerland, known for its high-quality healthcare system, may see investments from both the government and private healthcare entities in advanced medical imaging equipment.
• The Dutch government may allocate resources to healthcare infrastructure development, and healthcare authorities may support the adoption of cutting-edge medical imaging technology for improved diagnostics.
• Sweden places a strong emphasis on healthcare, and investments in infrastructure and medical technology, including medical imaging, may be made to enhance diagnostic capabilities.

Rising Demand for Advanced Diagnostic Accuracy Increasing the Growth of Medical Imaging Equipment Market in European Region

The increasing need for heightened diagnostic precision plays a pivotal role in propelling the medical imaging equipment market in Europe. Advanced medical imaging technologies, characterized by enhanced resolution and sensitivity, empower healthcare practitioners to achieve superior diagnostic accuracy. This precision is paramount for devising effective treatment plans and implementing targeted interventions. According to the European Commission, studies reveal a concerning rate of misdiagnoses, ranging from 10% to 40%, with diagnostic errors contributing to 10% of patient deaths. Additionally, over 20,000 diseases pose cognitive challenges for doctors. The EU reports that approximately 22 out of 30 million patients with rare diseases in the EU remain undiagnosed, with an average wait time of 10 years for 8 million patients.

The focus on early disease detection, particularly in cases of cancer and cardiovascular conditions, has spurred a heightened demand for imaging technologies featuring advanced diagnostic capabilities. Timely detection often translates to improved treatment outcomes and enhanced patient survival rates. In the realm of chronic conditions requiring continuous monitoring, advanced imaging techniques furnish intricate insights into disease progression. This level of accuracy proves indispensable for adapting treatment plans and ensuring optimal patient care. Moreover, the incorporation of artificial intelligence (AI) and machine learning into medical imaging significantly contributes to elevating diagnostic accuracy. AI algorithms serve as valuable tools for radiologists, facilitating the analysis of complex imaging data, thereby mitigating errors, and augmenting the overall precision of diagnostic interpretations.

The perpetual commitment to research and innovation in the field of medical imaging further fuels the development of novel technologies characterized by superior diagnostic accuracy. This dedication within the industry reflects a proactive response to the escalating demand for precision in diagnostics, indicating a continuous drive to push the boundaries of imaging capabilities.

Rising Investments and Collaborations Are Promoting The Demand Of Medical Imaging Equipment In Europe

The forthcoming years hold great promise for the role of the medical imaging equipment market. Over an extended span, various companies are expected to adopt effective go-to-market approaches, engage in mergers and acquisitions, and introduce new products to uphold their competitiveness and address the increasing desire for medical imaging. Quibim, Canon, Carestream, Unilabs. and many more are hugely contributing to the market for artificial intelligence in the breast imaging market. For example, In January 2023, Quibim, a leading medical imaging technology partner, joined the European Commission's European Federation for Cancer Images (EUCAIM) project directing major tasks focused on governance and implementation of the Central Hub and data federation and interoperability. In November 20223, Cleveland Clinic and Canon Inc. announced intentions to form a intentional research partnership to develop innovative imaging and healthcare IT technologies aimed at advancing diagnosis, care, and outcomes for patients. In 2023, Carestream Health announces a new future-focused partnership with EXAMION, a leading provider and servicer of medical imaging solutions in Germany for more than 30 years. In 2022, Unilabs, the leading European diagnostic services provider, agreed on a partnership with GE Healthcare to provide cutting-edge imaging equipment and digital technology in Portugal. All these business strategies are increasing the sales of the medical imaging equipment market in the European region.

Trends In Medical Imaging Equipment Market:

The global demand for medical imaging equipment is on the rise due to technological advancements, playing a crucial role in saving millions of lives annually. This equipment is instrumental in helping doctors detect and diagnose various diseases, ranging from cancer and appendicitis to stroke and heart disease. The healthcare industry consistently strives to introduce innovative solutions to benefit patients, and the rapid and accurate analysis of extensive data sets makes medical imaging equipment a focal point of ongoing research and investment by stakeholders.

Although medical imaging technology has been in existence for over a century, recent years have witnessed the emergence of newer technologies such as artificial intelligence in medical imaging equipment, augmented intelligence equipment, virtual and augmented reality, 3D medical imaging equipment, nuclear imaging equipment, wearable medical devices, and others. Despite these advancements, certain trends persist, shaping the landscape of medical imaging equipment technology.

What you can gain from Medical Imaging Equipment Market Report–

• Provides an in-depth analysis of the dynamics of Medical Imaging Equipment market segments across various regions.

• Medical Imaging Equipment segment research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• The Medical Imaging Equipment Segment Market report covers extensive analysis of emerging trends and the competitive landscape.
• The Medical Imaging Equipment segment report helps to identify opportunities in the marketplace.

Global Medical Imaging Equipment Market Segmentation

By Modality:

• X-ray Imaging Systems
• Digital X-ray Systems
• Analog X-ray Systems
• Computed Tomography (CT) Scanners
• High-end Slice CT Scanners
• Mid-end Slice CT Scanners
• Low-end Slice CT Scanners
• Magnetic Resonance Imaging (MRI) Systems
• Closed MRI Systems
• Open MRI Systems
• Ultrasound Systems
• 2D Ultrasound Systems
• 3D & 4D Ultrasound Systems
• Doppler Ultrasound Systems
• Positron Emission Tomography (PET) Systems
• Single Photon Emission Computed Tomography (SPECT) Systems
• Mammography Systems
• Fluoroscopy Systems
• Nuclear Imaging Systems
• PET-CT Systems
• SPECT-CT Systems

By Functionality:

• Portable Systems
• Stationary Systems

By Component:

• Hardware
• Software
• Services

By Portability:

• Portable
• Mobile
• Handheld
• Fixed

By Application:

• Oncology
• Cardiology
• Neurology
• Orthopedics
• Obstetrics and Gynecology
• Gastroenterology
• Urology
• Pulmonology
• Dental
• Others

By End User:

• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers (ASCs)
• Specialty Clinics
• Research Institutes
• Academic Institutions

By Sales Channel

• Direct
• Indirect

By Regional & Country Level:

• North America
  • S.
  • Canada
• Europe
  • K.
  • France
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • GCC
  • Africa
  • Rest of Middle East and Africa