Medical Imaging Workstations Market Size Worth $7.1 Billion By 2026

The global medical imaging workstations market size is expected to reach USD 7.1 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 7.2% during the forecast period. Increasing burden of chronic diseases and high demand for effective diagnostic tools are the factors driving the growth. Additionally, frequent new product launches are expected to contribute to the expansion.

Introduction of advanced display modalities are expected to boost the replacement of traditional workstations. Rising number of standalone imaging facilities and ambulatory imaging centers are expected to play an important role in driving the market growth.

Introduction of predictive analytics and artificial intelligence in radiology is expected to help healthcare professional to diagnose accurately and decide effective treatment plan. Increasing awareness and introduction of favorable reimbursement policies are the factors expected to ensure swift growth of Medical Imaging Workstations Market during the forecast period.

Rise in strategic initiatives such as mergers and acquisitions by the major players to maintain the market share is propelling the introduction of advanced systems. Moreover, development of new medical facilities and evolving preference for digital platforms is anticipated to boost growth of the market in the forthcoming years.

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https://www.grandviewresearch.com/industry-analysis/medical-imaging-workstations-market

Further key findings from the report suggest:

Thin client workstation segment is anticipated to register significant growth during the forecast period owing to the factors such as increasing need for early and effective patient diagnosis and high adoption of remote patient monitoring systems
Advanced imaging segment is anticipated to hold maximum market share in the forthcoming years due to growing acceptance of advanced imaging modalities such as 3D and 4D imaging
Based on component visualization software is also predicted to hold larger market share during forecast period owing to the development of customize software, which helps in summarizing the complex data instantly
North America led the market in 2018, attributed to the presence of a large patient pool, imaging centers, and high adoption of technologically advanced products
Asia Pacific is anticipated to witness considerable growth in the forthcoming years due to the improving healthcare facilities and increasing adoption of advance imaging workstations
Major players in the Medical Imaging Workstations Market are focusing on increasing access towards the image captured through medical imaging systems, by developing cloud-based system

MRI Market Size Worth $8.18 Billion By 2027

The global magnetic resonance imaging market size is expected to reach USD 8.18 billion by 2027, registering a revenue-based CAGR of 5.9% during the forecast period, according to Grand View Research, Inc. Rising prevalence of chronic diseases coupled with increasing demand for early diagnostic techniques is projected to drive the growth. In addition, growing adoption of less invasive diagnostic procedures is contributing to the magnetic resonance imaging (MRI) market growth. Moreover, increasing number of clinical trials to understand the effectiveness and efficiency of MRI machines in various clinical applications is expected to boost the growth.

End-users, such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T. Growing number of research studies will help unlock the potential usage and advantages of high field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of advance coil required for these high field machines. Therefore, the development of advance coils to expand the application of 7T MRI machines is expected to propel the growth during the forecast period.

Key market players are adopting various strategies, such as mergers and acquisitions, collaborations, and partnerships to gain competitive edge. For instance, Aurora Imaging Technology entered into a distribution agreement with Sumec Group Corporation. Under this distribution agreement, the latter will distribute MRI portfolio of Aurora Imaging Technology in China. This in turn is helping both the companies in geographical expansion.

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https://www.grandviewresearch.com/industry-analysis/magnetic-resonance-imaging-market

Further key findings from the report suggest:

Open system is anticipated to be the fastest growing segment during the forecast period due to its efficiency to accommodate patients of all sizes without them feeling claustrophobic
Magnetic resonance imaging (MRI) market for neurological and brain disorders held the dominant market share in 2019, largely due to high prevalence of neurological conditions and demand for less invasive diagnostic procedure
The high field MRI segment is expected to experience fastest growth over the forecast period, largely due to efficiency of the field strength to provide detailed diagnostic images
Ambulatory Surgical Centers (ASC) are expected to exhibit the fastest CAGR during the forecast period. Government initiatives to improve primary care is one of the major factor impacting the growth
In 2019, North America dominated the global MRI market in terms of revenue, owing to continuous research activities and high adoption of advanced techniques
Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period, largely due to a rise in clinical studies for high field MRI machines

Optical Coherence Tomography Market Worth $1.8 Billion By 2024

The global optical coherence tomography (OCT) market is expected to reach USD 1.8 billion by 2024, according to a new report by Grand View Research, Inc. Increasing incidences of ocular diseases coupled with rising technological advancement in diagnostics is expected to boost the market for OCT based imaging devices. Furthermore, rising applications in cardiology, dermatology, oncology and other diseases is anticipated to support market growth over the forecast period.

Improvement in the design of the devices along with utility of advanced software is expected to enhance the healthcare provider’s ability to accurately diagnose and manage chronic conditions. For instance, Optovue launched AngioVue Retina in June 2016, which is expected to provide ophthalmologist with a smooth integration of the optical coherence tomography angiography technology into the workflow.

Government support towards increased diagnostic rate is another vital impact rendering driver. For instance, the U.S. FDA have launched multiple programs to facilitate routine screening of geriatric patients, which forms a large portion of the target group. Availability of favorable reimbursement, is further expected to increase the diagnostic rate for conditions such as age-related macular degeneration, retinopathy, vitreomacular traction along with various other conditions.

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http://www.grandviewresearch.com/industry-analysis/optical-coherence-tomography-oct-market

Further key findings from the study suggest:

The time domain segment spearheaded the optical coherence tomography market in 2015, whereas, spatially encoded domain OCT is expected to witness lucrative growth over the forecast period. This is the most advanced technology and finds application across various domains, thereby actively contributing to the market growth over the forecast period.
Ophthalmology forms the largest application segment and is expected to lose market share over the forecast period owing to the introduction of other application and their lucrative growth trend. For instance, application of these devices for dermatology imaging is predicted to be on rise over the next few years. The ability of OCT imaging devices to non-invasively provide 3D images up to 2-3 mm depth with higher resolution than ultrasound is expected to be the driver of this growth.
Asia Pacific region is predicted to witness the fastest growth by 2024 and hold over 25.0% of the market share. Presence of growth opportunities in regions such as Korea, China, India, Malaysia and others countries of South Asia are anticipated to be the vital impact rendering drivers. Furthermore, expansion of competitors and establishment of manufacturing units in the region are also anticipated to support growth.
Few of the key players include, Carl Zeiss Meditec AG, Topcon Medical Systems Inc., Optovue, Michelson Diagnostics Ltd., Heidelberg Engineering GmbH, Novacam Technologies Inc., Agfa Healthcare and Thorlabs Inc.
Carl Zeiss is a prominent participant of the OCT industry with product portfolio varying for time domain to spatially encoded frequency domain based devices. Their product Cirrus HD-OCT 5000 launched in 2013, is highly popular among ophthalmic practice.
Furthermore, the players are also developing modified components for these devices in order to meet the specific needs of clients. For instance, Thorlabs in August 2016 released, a polarization-dependent isolator and super luminescent diode which can be further customized.

Pediatric Imaging Market Worth $12.2 Billion By 2027

The global pediatric imaging market size is expected to reach USD 12.2 billion by 2027, registering a CAGR of 7.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing incidences of pediatric trauma cases are expected to accelerate the demand for innovative patient screening, which is expected to augment the market growth.

According to the Centers for Disease Control and Prevention (CDC), an estimated 812,000 children aged 17 or below were treated in the U.S. Emergency Department (ED) for concussion or Traumatic Brain Injury (TBI) in 2014. CDC further stated that injuries due to falling accounted for an approximate 49% of all TBI-related ED visits in children. In addition, increasing focus of market players on product development and innovation is expected to drive the market growth. For instance, in June 2019, Carestream Health, Inc. launched a portable Carestream DRX Plus 2530C X-ray detector with cesium iodide technology, which captures minute details of anatomical structures in pediatric patients.

North America accounted for the largest share in 2019 owing to favorable reimbursement policies, faster adoption of innovative imaging modalities, and growing consumer preference toward noninvasive diagnosis. Increasing investments in order to propel technological innovation is expected to augment the pediatric imaging market growth in the region. For instance, in 2018, Bracco Diagnostics Inc. provided a grant of USD 300,000 to Children’s Hospital of Philadelphia (CHOP), to fund research and train technicians to use a new technology of contrast ultrasound. Also, medical coverage is granted by the Children’s Health Insurance Program (CHIP) for pediatric patients in U.S., which covers imaging services, is a major factor propelling the market growth.

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https://www.grandviewresearch.com/industry-analysis/pediatric-imaging-market

Further key findings from the report suggest:

The magnetic resonance imaging modality segment dominated the market owing to high usage in hospital settings and higher recommendations by radiologists due to safety
By application, the orthopedic/ trauma segment is expected to register the highest CAGR due to rising incidence of bone defects in children combined with increasing cases of ED visits related to trauma
By end user, the hospital segment accounted for the largest market share owing to large number of installed systems in hospital settings and direct collaborations of hospitals with market vendors, thereby offering access to novel and advanced imaging systems
Leading players present in the pediatric imaging market include GE Healthcare; Siemens Healthineers AG; Koninklijke Philips N.V. (Royal Philips); Fujifilm Holdings Corporation; Toshiba Medical Systems Corporation; Samsung Electronics Co., Ltd.; Agfa Healthcare; and Carestream Health, Inc.

Medical Digital Imaging Systems Market Worth $26.43 Billion By 2025

The global medical digital imaging systems market size is estimated to reach USD 26.43 billion by 2025, according to a new report by Grand View Research, Inc., experiencing a CAGR of 7.7% during the forecast period. Growing demand for advanced imaging solutions with minimal errors and faster results is likely to drive the market during the forecast period. Expanding applications of medical digital imaging in preventive healthcare is poised to contribute to the growth of the market.

Some of the causes of chronic diseases are unhealthy diets, sedentary lifestyles, tobacco and alcohol consumption, and biological factors including dyslipidemia, hypertension, obesity, and hyperinsulinemia. Rising prevalence of various chronic diseases is projected to augment the medical digital imaging market during the forecast period.

Governments of countries such as U.S., U.K., India, and Canada are undertaking initiatives to boost the market. These initiatives are in various forms such as declining import duties for devices, providing favorable policies, and educating physicians & medical imaging device operators. The demand for diagnostic techniques has been increasing in the past few years owing to technological advancements in the field of diagnostics and rising awareness among people regarding early diagnosis of diseases.

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https://www.grandviewresearch.com/industry-analysis/medical-digital-imaging-systems-market

Further key findings from the report suggest:

Increased per capita income and medical tourism in Asia Pacific are boosting the adoption of diagnostic imaging devices. The region is anticipated to rise at the highest CAGR over the forecast period
Market players such as GE Healthcare, Toshiba, and Philips Healthcare launched new CT systems that use microelectronic circuits, which reduce the noise created by the device and enhance image quality
Some of the key players operating in this market are Siemens Healthcare, Hitachi, GE Healthcare, Koninklijke Philips, Canon Medical Systems Corporation, Hologic, Medtronic, and Shimadzu Corporation
Regional & service portfolio expansions and mergers & acquisitions are among the key strategies adopted by these players to gain a higher market share.

Medical Imaging Market Size Worth $28.83 Billion By 2027

The global medical imaging market size is expected to reach USD 28.83 billion by 2027, according to a new report published by Grand View Research, Inc. It is projected to register a CAGR of 4.0% during the forecast period. Increasing demand for advanced diagnostic systems in developing countries and rising collaborations among market players are the factors driving the growth.

Developing countries have shown a surge in the volume of imaging procedures in the past few years. The low density of installed imaging systems in these regions is expected to provide significant growth potential during the forecast period. Favorable government policies and booming medical tourism in these countries are expected to attract global market players toward untapped markets.

Integration of multiple imaging modalities is expected to play an important role in market growth. These systems have accurate diagnostic capabilities and are available at affordable prices. The integration of imaging modalities with surgical suites is anticipated to open a new avenue for the medical/diagnostic imaging market at a global level in the forthcoming years.

Development of portable diagnostic tools is important to expand the applications of imaging devices in ambulatory care, clinics, and emergency care departments. Handheld ultrasound devices provide quick and safer images that are critical in emergency care. Ongoing trials and studies to explore the potential of MRI technology for early detection of neurological conditions are showing positive results. The development of new radiofrequency coils is anticipated to expand these applications during the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/medical-imaging-systems-market

Further key findings from the report suggest:

Ultrasound captured the largest market share in 2019 and is expected to dominate throughout the forecast period
Computed tomography is expected to expand at the fastest CAGR during the forecast period
Rapid technological advancements, such as the development of hybrid imaging modalities and integration of Artificial Intelligence (AI) is anticipated to fuel growth of the CT segment
Hospital segment is currently dominating the medical imaging market for diagnostic imaging due to blooming healthcare service industry in developing countries
Ambulatory care centers segment is anticipated to report the fastest growth during the forecast period
North America captured the largest medical/diagnostic imaging market share in 2019