Pune, India -- (SBWIRE) -- 01/16/2020 -- The latest report on "Medical Imaging Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024." The global medical imaging market is projected to grow at a CAGR of 6.56% over the forecast period of 2018-2024.

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Medical Imaging Market: Industry Insight

Medical imaging is the technique and process used to create visual representations of the interior of a body for diagnostic and treatment purposes. Medical imaging pursues to expose internal structures covered by the skin and bones, as well as to diagnose and treat disease. It is used to image the human body for diagnosis and treatment of a variety of diseases and hence plays a vital role in improving health. The medical imaging industry has been developed from bed-side monitoring to high-end digital scanning.

Increasing Incidences of Diseases Such as Cardiovascular and Orthopedic are Primary Reasons that Drive the Growth of the Medical Imaging Market

Increasing incidences of diseases such as cardiovascular and orthopedic are primary reasons that drive the growth of the medical imaging market. The factors such as rising age demographics, growth in the incidence of various diseases and increasing awareness for early-stage chronic disease detection and diagnosis are driving the medical imaging market. However, factors such as exposure to ionizing radiation, MRI safety issues are restraining the growth of the market. The introduction of new and innovative technology such as CT, MRI, Ultrasound, and PET will generate new investment opportunities for leading companies in the medical imaging market.

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Portable Medical Imaging Devices Segment Held the Largest Market Share

The medical imaging is segmented on the basis of product, product type, and end-user. On the basis of the product, the global medical imaging market is categorized into radiography (X-ray), ultrasound, computed tomography scans, magnetic resonance imaging (MRI) scans, and nuclear medicine scans. The MRI segment held the largest market share of the global medical imaging market owing to the high adoption of MRI systems by hospitals and diagnostic centers throughout the globe. On the basis of product type, the global medical imaging market is segmented into portable and stationary. The portable medical imaging devices held the largest market share than stationary due to its technically feasible, with good image quality. On the basis of end-user, the global medical imaging market is segmented into hospitals and imaging centers.

North America Dominates the Medical Imaging Market Followed by Europe

Among the geographic regions, North America dominates the medical imaging market followed by Europe. Factors such as the rising geriatric population and associated diseases, easy accessibility to diagnostic imaging modalities, and high adoption of technological advancements drive the growth of the market in this region. Asia-pacific is the fastest-growing region due to rising cardiovascular diseases and the need for better diagnostic devices in this region.

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Medical Imaging Market: Competitive Analysis

Some of the industry participants of the global medical imaging market are GE Healthcare, Siemens Healthcare, Shimadzu Corporation, Koninklijke Philips N.V, Carestream Health, Toshiba Medical Systems Ltd., Ziehm Imaging Inc., Aribex, Inc., and Varian Medical Systems among the others.

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of medical imaging.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.