Medical Imaging Workstations Market Size, Share & Trends Analysis Report By Usage Mode (Thick Client, Thin Client), By Application, By Components (Visualization Software, Hardware), By Modality (CT, MRI), And Segment Forecasts 2019 - 2026

Report Overview

The global Medical Imaging Workstations Market size was estimated at USD 4.1 billion in 2018 and is anticipated to expand at a CAGR of 7.2% by 2026. Increasing usage of medical imaging workstations for maintaining healthcare records, information flow, and accurate diagnosis is majorly driving the growth. The introduction of technologically advanced and affordable systems is expected to further fuel the growth.

A paradigm shift towards automated systems for the diagnosis of diseases is contributing to the development and adoption of medical imaging workstations. The introduction of advanced imaging modules such as 3D and 4D is helping healthcare professionals accurately diagnose the disease and make informed decisions. The integration of diagnostic systems with predictive analysis is expected to play a pivotal role during the forecast period.

A rising number of outpatient, as well as ambulatory imaging centers, is expected to drive the demand for medical imaging workstations during the forecast period. The rising demand for affordable diagnostic options in remote rural areas is expected to fuel the market growth lucratively during the forecast period.

The age of onset of chronic conditions such as stroke, cancer, diabetes, and heart diseases is decreasing drastically. Along with age-related diseases, the rising number of lifestyles associated with chronic diseases are expected to boost the demand for preventive diagnostic tools. According to the National Center for Chronic Disease Prevention and Health Promotion, around 60% of Americans are currently living with at least one chronic disease. Growing awareness about preventive healthcare, the introduction of favorable reimbursement policies for preventive diagnosis, and the introduction of advanced devices are the factors attributed to the swift market growth.

Usage Mode Insights

The thin client workstations segment is anticipated to expand at a CAGR of more than 7.0% during the forecast period from 2019 to 2026. These are associated with several benefits such as high productivity due to the presence of a flexible setup, enhanced security, and simplified handling.

Thin client workstations are gaining popularity over the former due to the expenses saved in terms of IT support costs, upfront purchase costs, capital costs, and others. Their demand is comparatively higher in small imaging facilities and ambulatory imaging centers. Thick client workstations consist of multimedia components and hence are considered effective for intensive bandwidth applications in a large establishments such as hospitals and standalone imaging facilities.

Application Insights

The advanced imaging segment held the dominant share in the Medical Imaging Workstations Market in 2018 and is expected to continue its dominance during the forecast period. Advanced imaging covers workstations with state-of-the-art displays screen and integration with advanced software. The software includes predictive analytics and artificial intelligence in medical imaging. Along with these advancements introduction of novel radiation safety techniques is expected to increase the application of imaging radiology, and thus fuel the demand.

Advanced imaging systems are integrated with cloud-based technology, which increases the accessibility of the images captured by the device. Increasing accessibility to the image will help reduce the chances of image duplication and patients’ exposure to radiation.

Conventional imaging provides diagnosis at an affordable cost. Also, these conventional imaging systems require less interpretation time in comparison to advanced imaging systems. Moreover, these conventional imaging systems do not require skilled professionals.

Component Insights

Visualization software is expected to expand at a significant rate during the forecast period. This software helps a precise and accurate understanding of the complex set of data. This includes gathering a large amount of data and presentation of the information in an understandable fashion Therefore, this helps medical professionals to arrive at an accurate diagnosis.

Hardware is a cost-effective component to diagnose and present the data related to the disease. These include data processing and display units. Availability of affordable integrated circuits, smaller storage units, and the introduction of advanced are expected to drive the segment throughout the forecast period.

Modality Insights

Computed Tomography (CT) holds the dominant market share. CT helps in showing detailed internal anatomy and hence helps in determining the treatment course. Usage of CT helps in reducing the hospital stay and improving patient convenience. Therefore, the growing preference for CT over other diagnostic tools is expected to contribute to the segment growth during the forecast period.

Magnetic Resonance Imaging (MRI) is expected to witness significant growth during the forecast period, attributed to its major benefits such as noninvasiveness and the ability to provide 3D images with the help of magnetic fields and radio waves. Usage of MRI for diagnosis decreases the exposure to radiation and associated side effects. Mammography and ultrasound are other segments under modality which are also expected to account for significant growth in the forecasted period.

Regional Insights

North America held the largest market share in 2018. The presence of global players, favorable reimbursement scenarios, and growing adoption of digital platforms for diagnosis are some of the factors expected to play an important role in regional market dynamics. The region is expected to continue its dominance till 2026.

Asia Pacific is anticipated to register the fastest CAGR during the forecast years. Increasing demand for advanced imaging and the presence of local market players in countries such as China, India, and South Korea are some of the factors driving regional growth.

Countries such as Thailand, India, and Malaysia are experiencing a steep rise in medical facilities such as the development of imaging centers and clinics. This is due to the increasing healthcare expenditure in these countries. In addition, rising funds in the form of investments made by public and private entities are expected to drive the market during the forecast period.

Medical Imaging Workstations Market Share Insights

Key players are Accuray Incorporated, CANON MEDICAL SYSTEMS CORPORATION, Carestream Health, Carl Zeiss Meditec AG, FUJIFILM Holdings Corporation, GE Healthcare, Koninklijke Philips N.V., NGI Group, and Siemens.

Frequent product launches and strengthening the product portfolio are some of the strategic initiatives taken by the key players. The presence of local market players in developing countries is increasing the reach of medical imaging workstations at lower prices. This will increase its adoption and in turn propel the overall market growth.

Medical Imaging Workstations Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global Medical Imaging Workstations Market report on the basis of usage mode, application, component, modality, and region:

• Usage mode Outlook (Revenue, USD Million, 2015 - 2026)

  • Thick Client Workstations

  • Thin Client Workstations

• Application Outlook (Revenue, USD Million, 2015 - 2026)

  • Conventional Imaging

  • Advanced Imaging

• Component Outlook (Revenue, USD Million, 2015 - 2026)

  • Visualization Software

  • Hardware

• Modality Outlook (Revenue in USD Million and Volume in ‘000 Units, 2015 - 2026)

  • Computed Tomography (CT)

  • Magnetic Resonance Imaging (MRI)

  • Ultrasound

  • Mammography

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    •  The U.S.

    • Canada

  • Europe

    •  Germany

    •  The U.K.

    •  France

    •  Italy

    • Spain

  • Asia Pacific

    •  China

    •  Japan

    •  India

    •  Thailand

    • South Korea

  • Latin America

    •  Brazil

    •  Mexico

    •  Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE