Medical Digital Imaging Systems Market Size, Share & Trends Analysis Report By Type (X-ray, MRI, Ultrasound, CT, Nuclear Imaging), By Technology (2D, 3D/4D), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global medical digital imaging systems market size was valued at USD 15.1 billion in 2021 and is likely to expand at 8.1% CAGR from 2022 to 2030. Surging demand for effective early diagnostic methods and widening base of the aging population has been instrumental in driving the market. Technological advancements and increasing investments and funds by governments, especially in developing countries such as India and China, are also poised to stoke the growth of the market over the coming years. Advancements in digital and communication technologies have been augmenting the market. New imaging techniques provide accurate anatomical detail in most diagnostic radiology procedures. This has helped in the expansion of the application of medical digital imaging in exploratory surgery.

Positron emission tomography (PET)/computed tomography (CT) enables the determination of metabolic information of PET and anatomic detail of CT simultaneously. High-resolution CT offers images with higher spatial resolution. Magnetic resonance imaging (MRI) is replacing older techniques such as CT, myelography, angiography, and arthrography.

In addition, advancements in digital imaging offer various clinical and economic benefits, such as instant access to radiology studies, and a lesser risk of data damage, and theft. Automation in procedures helps in decreasing waiting time, thus, maximizing efficiency and returns on investment. These benefits help offset the costs of equipment and infrastructure.

Type Insights

Based on the products, the market has been segmented into X-ray, ultrasound systems, CT, MRI, and nuclear imaging. CT accounted for the largest share in the market in 2021 with a 25.2% share. Nuclear imaging is anticipated to be the fastest-growing segment during the forecast period. Development of new radiotracers, increasing prevalence of cancers and cardiovascular diseases, and the introduction of new products through advancements are working in favor of the overall market.

According to the American Cancer Society, 1,762,450 new cancer cases were reported in the U.S. in 2019. Development of radiotracers, such as Single Photon Emission Computed Tomography (SPECT) with technetium 99m radiotracers, which optimizes image quality with reduced radiation exposure, is estimated to contribute to the growth of the CT segment during the forecast period.

Technology Insights

Based on technology, the global medical digital imaging systems market has been bifurcated into 2D and 3D/4D. 2D has been further divided into black and white (BnW) and color. 2D technology captured the largest share in 2017. The 3D technology is expected to witness the highest adoption rate in developed as well as developing regions.

Technological advancements in 3D/4D imaging technology help in accurate and efficient real-time visualization of the human body, thereby minimizing distortion for patients. 4D imaging is 3D with real-time movement. The global market for 3D and 4D devices is likely to experience lucrative growth in the forecast period owing to the increasing adoption of these technologies for fetal monitoring.

Regional Insights

Geographically, the market has been analyzed for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominated the market in 2021 owing to the high adoption of advanced technology and improved healthcare infrastructure, high purchasing power, and favorable reimbursement framework.

Asia Pacific is poised to exhibit the highest CAGR with 10.3% during the forecast period, mainly due to increasing government incentives and lower cost of clinical trials. Healthcare in the region is dominated by private healthcare services providers. The presence of international service provider companies such as Wockhardt Hospitals, Columbia Asia, and Fortis Healthcare is projected to boost the level of competition in the private sector. Rapid growth in medical tourism is anticipated to fuel the demand for advanced diagnostic methods in this highly competitive market.

Key Companies & Market Share Insights

Regional and service portfolio expansions and mergers and acquisitions are among the key strategies adopted by these players to gain a higher share. In March 2017, Hitachi Ltd. introduced its product ECHELON Smart, a mid-field strength MRI system. This system is incorporated with Hitachi's silent scanning technology, which will enable safety and higher compliance for patients. It was exhibited at the European Congress of Radiology, following which it was expected to be available commercially. Some prominent players in the global digital medical imaging market include:

• Koninklijke Philips N.V

• GE Healthcare

• Siemens Healthineers

• Esaote SPA

• Canon Medical Systems Corporation

• Hologic

• Hitachi

• Shimadzu

Medical Digital Imaging Systems Market Report scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global digital medical imaging market report based on product, application, end-use, and region:

• Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • MRI

  • X-ray

  • Ultrasound

  • CT

  • Nuclear Imaging

• Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • 2D

    • BnW

    • Color

  • 3D/4D

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

    • Chile

  • MEA

    • South Africa

    • Saudi Arabia