Global Medical Imaging Market Report 2024: Size, Drivers, And Top Segments
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How is the Medical Imaging Market Expected to Expand from 2024 to 2033?
In recent times, the medical imaging market has seen significant growth. The market is projected to rise from $40.35 billion in 2023 to $42.96 billion in 2024, experiencing a compound annual growth rate (CAGR) of 6.5%. This historic growth can be credited to an increase in chronic diseases, an aging demographic, governmental support and investment in healthcare, greater awareness and proactive diagnoses, as well as a surge in minimally invasive operational procedures.
In the years to come, the medical imaging market is predicted to experience robust growth, reaching a staggering amount of $54.47 billion in 2028 with a compound annual growth rate (CAGR) of 6.1%. This anticipated rise during the forecast duration is due to factors such as the advent of personalized medicine strategies, developing modalities and hybrid imaging, global health dilemmas and readiness, electronic health record (EHR) integration, and a focus on patient-oriented care and experience. The forecast period additionally features prominent trends such as telemedicine and remote imaging, integration of artificial intelligence (AI), technological enhancement, developments in 3D and 4D imaging, and the escalating use of portable and point-of-care imaging devices.
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What Influences Are Propelling the medical imaging Market Forward?
The growing incidence of lasting illnesses is projected to drive the expansion of the medical imaging market in the upcoming period. Lasting illnesses, often enduring for at least three months, have the propensity to become more severe over time. Such conditions are more prevalent amongst the elderly and while they can generally be restrained, curing them is rarely possible. The swelling number of these illnesses contributes to the growth of the medical imaging market, as diagnosis and detection of these conditions often involves use of this facility. For instance, as per the report from the Australian Bureau of Statistics, an autonomous statutory body in Australia tasked with data collection and analysis, around 78.6% of Australians had at least one long-term health issue and about 46.6% or 11.6 million people had at least one chronic illness in 2021. Moreover, in September 2022, the World Health Organization, a Swiss agency dedicated to international public health, reported approximately 4.1 million fatalities annually from chronic respiratory diseases. Therefore, the constant rise in chronic illnesses is fueling the advancement of the medical imaging market.
What Key Segments Exist Within the Medical Imaging Market?
1) By Product: X-Ray Devices, Magnetic Resonance Imaging (MRI), Ultrasound, Computed Tomography, Nuclear Imaging, Mammography
2) By Application: Obstetrics And Gynecology Health, Orthopedics And Musculoskeletal, Neuro And Spine, Cardiovascular And Thoracic, General Imaging, Oncology, Urology, Breast Health, Other Applications
3) By End User: Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Other End Users
What Trends Are Coming to the Forefront in the Medical Imaging Market?
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What Regions Are Leading the Charge in the Medical Imaging Market?
North America was the largest region in the medical device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global medical imaging market report during the forecast period. The regions covered in the medical imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Medical Imaging Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the medical imaging market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Medical Imaging Market Include
1. Medical Imaging Market Executive Summary
2. Medical Imaging Market Segments
3. Medical Imaging Market Size And Template Market Growth Rate
4. Key Medical Imaging Market Trends
5. Major Medical Imaging Market Drivers
……
25. Key Mergers And Acquisitions In The Medical Imaging Market
26. Top Medical Imaging Companies
27. Medical Imaging Market Opportunities And Strategies
28. Medical Imaging Market, Conclusions And Recommendations
29. Appendix
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