The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Medical Imaging Equipment Global Market Report 2024, the medical imaging equipment market is expected to show significant growth in the forecast period.

• Market Size Growth:
  • The medical imaging equipment market has shown significant growth in recent years. In 2023, the market size reached $42.68 billion and is projected to grow to $45.75 billion in 2024, with a compound annual growth rate (CAGR) of 7.2%.
  • This expansion is driven by an aging population, an increasing disease burden, and government initiatives aimed at raising awareness and integrating artificial intelligence (AI) in healthcare.
• Future Market Projections:
  • The market is expected to continue its upward trajectory, reaching $57.71 billion by 2028, at a CAGR of 6.0%.
  • Key factors fueling this growth include the rise of personalized medicine, remote patient monitoring, and the growth of emerging markets. Value-based healthcare and precision medicine also play pivotal roles in driving the market forward.

View More On The Medical Imaging Equipment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/medical-imaging-equipment-global-market-report

Role of Medical Imaging in Chronic Disease Management

• Chronic Disease Prevalence:
  • Chronic diseases, which are long-lasting and progress slowly, are on the rise due to factors like changing lifestyles, genetic predispositions, and aging populations. This increase is expected to drive the demand for medical imaging equipment.
  • Medical imaging is crucial for the early detection, accurate diagnosis, and personalized treatment of chronic conditions. It also aids in ongoing monitoring of disease progression and treatment effectiveness.
  • Global Impact:
    • In 2022, chronic diseases accounted for 41 million deaths globally, with 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes.

Advancements in Medical Imaging Technology

• Exo Iris: A Case Study:
  • Major companies in the medical imaging equipment market are focusing on developing advanced products like the Exo Iris. This new device integrates real-time AI, such as SweepAI, which ensures consistent and precise imaging, reducing the dependency on operator skills.
  • Key Features:
    • Compact and affordable design.
    • Ultra-wide field of view (up to 150 degrees), enabling comprehensive imaging of large organs or full-body fetuses in a single view.
    • Integrated with Exo Works, a point-of-care ultrasound workflow solution for seamless documentation and review.

Strategic Acquisitions Strengthening Market Position

• Radon Medical Imaging’s Expansion:
  • In July 2023, Radon Medical Imaging LLC expanded its services by acquiring Tristate Biomedical Solutions LLC, a US-based medical equipment company.
  • Impact of Acquisition:
    • This acquisition enhances Radon’s ability to provide maintenance and repair services for medical imaging equipment, strengthens its business, and expands its geographic reach.

Market Segmentation and Regional Insights

• Market Segmentation:
  • By Equipment: Includes Computed Tomography, X-Ray Systems, MRI Systems, Ultrasound Systems, Nuclear Imaging Equipment, Mammography Equipment, and more.
  • By Modality: Covers Stand-Alone Devices, Portable Devices, and Hand-Held Devices.
  • By Application: Encompasses Cardiology, Neurology, Orthopedics, Gynecology, Oncology, and other applications.
  • By End-User: Involves Diagnostic Imaging Centers, Ambulatory Surgical Centers, Specialty Clinics, and Research Institutes.
• Regional Insights:
  • In 2023, Asia-Pacific emerged as the largest region in the medical imaging equipment market, reflecting the region’s robust healthcare infrastructure and increasing investment in medical technologies.

Conclusion

• Market Outlook:
  • The medical imaging equipment market is poised for strong growth, driven by technological advancements, strategic acquisitions, and the increasing prevalence of chronic diseases. Companies operating in this market are focusing on innovation and expansion to meet the growing demand and to stay competitive in a rapidly evolving industry.

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