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What Growth Opportunities are Expected to Drive the Medical Footwear Market’s CAGR Through 2034?

Recent times have seen robust growth in the medical imaging market size. The forecast indicates an increase from $43.24 billion in 2024 to $45.75 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. Factors contributing to growth during the historic period include a surge in chronic disease incidences, ageing demographic profiles, governmental interventions and expenditure in healthcare, heightened consciousness and early diagnosis, and an escalation in minimally invasive procedures.

The market size for medical imaging is anticipated to witness significant expansion in the upcoming years. It’s projected to increase to a value of $59.3 billion by 2029, with a compound annual growth rate (CAGR) of 6.7%. The anticipated growth during the forecast period is due to factors such as the adoption of personalized medicine strategies, the emergence of new modalities and hybrid imaging, global health crises and readiness, synergy with electronic health records (EHRs), and a focus on patient-centered care and experiences. Key trends during the forecast period encompass telemedicine and remote imaging, assimilation of artificial intelligence (AI), technological breakthroughs, developments in 3D and 4D imaging, and a rise in the usage of portable and point-of-care imaging equipment.

Which Drivers Are Expected to Have the Greatest Impact on the Market’s Growth?

The projected rise in cases of chronic diseases is anticipated to fuel the expansion of the medical imaging market in the near future. Chronic diseases, which typically persist for three months or longer and may worsen over time, are notably more common in the elderly and cannot usually be fully cured, though they can often be controlled. As such diseases increase, so does the demand for medical imaging, which plays a key role in diagnosing and detecting chronic conditions. For example, the National Center for Biotechnology Information (NCBI), a branch of the US National Library of Medicine, estimated in January 2023 that by 2050 there will be a 99.5% increase in the number of people aged 50 and older who suffer from at least one chronic ailment, escalating from 71.522 million in 2020 to 142.66 million. Consequently, the advancement of the medical imaging market is being driven by the growing prevalence of chronic diseases.

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What Are the Leading Industry Players Dominating the Medical Footwear Market?

Major companies operating in the medical imaging market include:

• Hitachi Medical Corporation_x000D_

• General Electric Company_x000D_

• Medtronic PLC_x000D_

• Siemens Healthcare GmbH_x000D_

• Fujifilm Holdings Corporation_x000D_

What Are the Latest Trends Leading to Disruption in the Medical Footwear Market?

The focus of major players in the medical imaging market is shifting towards technological advancements like mobile connectivity. This feature lets remote medical experts provide assistance with scanning and diagnostics. Additionally, remote observation and control of MRI scans are possible, along with access to patient data and notifications about scan status or emergencies. Siemens Healthcare, a healthcare organization based in Germany, started a new initiative in November 2022 by launching a new mobile MRI scanner named Magnetom Viato.Mobile. This device is optimized for mobile use, provides maximum flexibility with its 70-centimeter patient bore and trailer setup. It facilitates easy mobility and on-site deployment. Remote operation and servicing are made possible through either fixed internet or 4G, enabling use in a variety of locations. As a result, there is a decrease in the need for on-site staffing as specialists can remotely assist with scans and maintenance. The innovative Magnetom Viato.Mobile MRI scanner epitomizes flexibility, simplicity, and remote operation.

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Which Segments Play a Crucial Role in the Expansion of the Medical Footwear Market?

The medical imaging market covered in this report is segmented –

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

Subsegments:

1) By X-Ray Devices: Conventional X-Ray Systems, Digital Radiography Systems, Portable X-Ray Machines

2) By Magnetic Resonance Imaging (MRI): Closed MRI Systems, Open MRI Systems, Functional MRI (fMRI)

3) By Ultrasound: Diagnostic Ultrasound Systems, 3D/4D Ultrasound Systems, Portable Ultrasound Devices

4) By Computed Tomography (CT): Spiral/Helical CT Scanners, Cone Beam CT Scanners, Multi-Slice CT Scanners

5) By Nuclear Imaging: Positron Emission Tomography (PET) Scanners, Single Photon Emission Computed Tomography (SPECT) Scanners

6) By Mammography: Digital Mammography Systems, 3D Tomosynthesis Mammography Systems, Screening and Diagnostic Mammography Systems

Which Regions Are Significant to the Growth of the Medical Footwear Market?

North America was the largest region in the medical device market in 2024. 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.

How Is the Medical Footwear Market Classified and Defined in Market Analysis?

Medical imaging comprises a variety of technologies and devices that are used to create images of body parts to identify, observe, or treat medical disorders. Each technology type provides distinct information on the part of the body being investigated or treated, concerning potential illness, damage, or the efficacy of medical care.

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