Globe Newswire08.26.21
According to the research analysts, global medical imaging market size accounted for $39.94 billion in 2020 and is likely to showcase significant growth during the study period. Widespread adoption of big data analytics, growing demand for EHR (electronic health record), and shifting preferences towards opting for portable solutions over fixed equipment are some of the key factors fueling the market size.
For the uninitiated, medical imaging is used for imaging various modalities in order to obtain a visual representation of organs for therapeutic as well as diagnostic purposes. Technological advancements in this business space has led to the development of advanced imaging devices which provide better anatomical details, thereby stimulating the overall industry outlook.
Citing an instance, the World Health Organization estimated that around 3.6 billion diagnostic examinations are conducted annually across the globe, of which over 350 million are performed on pediatric patients. Thus, increased pervasiveness of acute and chronic conditions including orthopedic and cardiovascular diseases as well as cancer is contributing towards global medical imaging industry dynamics.
In addition to this, rising cognizance regarding early diagnosis and focus towards reducing healthcare expenditure are adding traction to global medical imaging market size. Growing demand for X-ray, ultrasound, computed tomography (CT), and magnetic resonance imaging scans is also favoring the overall market scenario.
The global scope of operations of this business space involves regions such as Asia-Pacific, North America, and Europe.
Among these, experts cite that North America currently accounts for the largest share in global medical imaging industry and is likely to display consistent growth throughout the study duration. High occurrence of chronic conditions in tandem with rising elderly population is facilitating the business scenario in North America.
Easy availability of portable CT and ultrasound scanners that provide easy as well as relevant health information for clinical measurement is also contributing towards the popularity of medical imaging devices in North America.
For the uninitiated, medical imaging is used for imaging various modalities in order to obtain a visual representation of organs for therapeutic as well as diagnostic purposes. Technological advancements in this business space has led to the development of advanced imaging devices which provide better anatomical details, thereby stimulating the overall industry outlook.
Citing an instance, the World Health Organization estimated that around 3.6 billion diagnostic examinations are conducted annually across the globe, of which over 350 million are performed on pediatric patients. Thus, increased pervasiveness of acute and chronic conditions including orthopedic and cardiovascular diseases as well as cancer is contributing towards global medical imaging industry dynamics.
In addition to this, rising cognizance regarding early diagnosis and focus towards reducing healthcare expenditure are adding traction to global medical imaging market size. Growing demand for X-ray, ultrasound, computed tomography (CT), and magnetic resonance imaging scans is also favoring the overall market scenario.
The global scope of operations of this business space involves regions such as Asia-Pacific, North America, and Europe.
Among these, experts cite that North America currently accounts for the largest share in global medical imaging industry and is likely to display consistent growth throughout the study duration. High occurrence of chronic conditions in tandem with rising elderly population is facilitating the business scenario in North America.
Easy availability of portable CT and ultrasound scanners that provide easy as well as relevant health information for clinical measurement is also contributing towards the popularity of medical imaging devices in North America.