The global medical digital imaging systems market size was valued at USD 25.5 billion in 2015. Rising awareness regarding the benefits of early diagnosis is primarily boosting the demand for digital imaging. Concurrently, increasing prevalence of chronic diseases, such as cancer and cardiovascular diseases, are augmenting the growth of this vertical.
The availability of advanced visualization tools including 3D systems is pushing the adoption of image analysis modalities for improved disease diagnosis and treatment monitoring. On the other hand, high cost of the devices coupled with stringent regulatory approval procedures governing their use is hindering the growth of this vertical.
China Medical Digital Imaging Systems Market, by Product, 2014 - 2024 (USD Million)
Medical digital image processing offers clinical and economic benefits, such as instant access to radiology studies and avoids duplication or loss of films, which will propel the sector growth. Digital image analysis and processing improves workflow & productivity and reduces the overall cost of the imaging process. In addition, the aforementioned benefits have helped offset the cost of the equipment and infrastructure, which have further driven the rapid adoption of advanced imaging modalities in the recent years.
The global medical digital imaging systems market is segmented into product and technology type. X-ray image analysis devices captured the largest share in 2015 owing to the increasing incidences of orthopedic injuries and diseases. Growing demand for x-ray devicesis expected to take the global x-ray devices vertical from USD 6,914.1 in 2015 to USD 9,400.3 million in 2024.
Based on technology, the medical digital image analysis systems market is segmented into 2D (black &white and color) and 3D/4D. 2D technology dominated the global market in 2015 due to the high awareness and low cost of these devices. However, 3D and 4D technology are anticipated to rapidly replace 2D technology over the forecast period.
The nuclear imaging segment is anticipated to show the fastest growth rate during the forecast period. Factors such as its widening application in disease diagnosis, improved accuracy of results, and the short-turnaround times are expected to spur the demand for nuclear image analysis devices in the near future. However,the risk of high radiation exposure is the major factor impeding the adoption of nuclear image visualization systems.
North America dominated the global medical digital imaging systemsmarket in the year 2015. Well established healthcare infrastructure and the observed,faster adoption rate of advanced technologyare the key determinantsboosting the growth of thisvertical in the region.
In addition, the government recommendations for routine checkups are boosting the demand for advanced image analysis systems. For instance, cancer organizations recommend mammography once in 1 to 3 years for women aged between 20 to 40 years and once in a year for women aged between 40 to 50 years. The recommendation of periodic ultrasound scans during the gestation period to monitor the growth of the fetusis another example of government initiatives advocating routine screening. Thus, the rising adoption of routine screening is pushing the demand for advanced image visualization devices in North America.
The AsiaPacific region is expected toshow the fastest growth in the medical digital imaging sector owing to the booming medical tourism industry in the region. In addition, increasing government endeavors targeting modernization of healthcare infrastructure and the rising awareness regarding the benefits of early disease diagnosis are some of the other factors augmenting the growth of the digital imaging systems sector in Asia Pacific. Moreover, the escalating incidence of chronic diseases and the steadily increasing disposable income are expected to fuel the demand for advanced image analysis modalities.
Japan and China are the prominent markets in the Asia Pacific region, which is attributable to the high demand for image visualization modalities in these countries. In addition, the presence of a large patient pool and rapidly improving healthcare infrastructure is creating the urgent requirement for advanced treatments in Asia Pacific. Hence, thefast emerging economies of India and China are expected to show significant growth during the forecast period.
The global sector for the medical digital image analysis systemsis highly competitive with the presence of a large number of global as well as local players. Technological advancements in 3D and 4D image analysis systems are popularizing the market. The major players operating in this vertical include but are not limited to GE Healthcare, Siemens Healthcare GmbH, Koninklijk Philips N.V., Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Carestream Health, Inc., Esaote, Hologic, Inc., and Shimadzu Corporation.
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