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Jan-2022

Medical Digital Imaging Systems Market Size To Grow USD 26.32 Bn By 2026

North American regional market accounted for the most significant proportion in the global medical digital imaging systems market.

As per our research report, the size of the global medical digital imaging systems market is forecasted to grow at a CAGR of 11.12% from 2021 to 2026 and will be worth USD 26.32 billion by 2026.

The current COVID-19 pandemic has highlighted the importance of healthcare across the globe. It is important to determine the level of ability of surgeons and specialist professionals to function and limit the spread of infection during the pandemic. Conscious efforts were taken during 2020-2021 to minimize the overall healthcare costs with accurate diagnosis and timely treatment plans. This has helped decrease the detrimental effect on the economies with high death rates. All COVID-19-positive or suspected patients requiring medical intervention need to take CT scans to detect the spread of infection into their lungs and associated complications, especially in COVID-19-positive patients. Digital medical imaging systems, such as X-ray systems, play an important role during the forecast period.

Factors such as increasing disease prevalence, advancements in medical imaging technology, increasing demand for early-stage diagnostics, and the growing geriatric population are driving the growth of the medical digital imaging systems market. According to the Global Health and Aging Report published by the WHO, it is estimated that the number of people aged 65 and over will increase from 525 million to around 1.55 billion by 2050, with a higher percentage increase in developing economies. Heart disease, cancer, and stroke have been the major chronic diseases that have had the most significant impact on the geriatric population, especially in high-income countries. An estimated 1,735,550 new cancer cases have been diagnosed in the United States, and 609,700 people have died from this disease. The number of new cancer incidences is 440 per 100,000 per year, and the number of cancer-related morbidities is 164 per 100,000 per year. It is estimated that over $ 148 billion is spent on cancer care in the United States. Therefore, the increase in the prevalence of chronic coupled with the growing geriatric population is driving the growth of the medical digital imaging systems market across the globe.

However, the high cost and lack of reimbursement policies may create obstacles to the growth of the medical digital imaging systems market during the forecast period.

KEY MARKET INSIGHTS:

Based on the product, the market is growing substantially as the number of CT cases increases over time. Factors such as increased awareness of neurological diseases and wellness, changing patterns of neurological and cerebrospinal disorders, government support, and the rising number of diagnostic centers are expected to increase the rapid growth of this segment. However, the Photon Emission Computed Tomography (SPECT) systems contributed to the largest market share in 2021. A SPECT image offers many benefits compared to other imaging systems and is widely available and cheaper than a PET system.
Based on end-users, in 2021, hospitals held the largest share of the medical digital imaging systems market, attributed to the presence of well-resourced operating and diagnostic rooms, higher purchasing power, availability of skilled health professionals, and better health coverage for hospitals.
Based on the technology, although the 2D technology captured the most significant share during 2020, the 3D technology segment is projected to experience the highest adoption rate in developed and developing regions. This is because 3D technology has several technological advantages over other systems, like precise and efficient real-time visualization of the human body, low risk of distortion, and features of 4D images for real-time movement. These features help in fetal monitoring, which will provide several growth opportunities in the years to come.
Based on region, the North American regional market contributed the largest share in 2020, owing to increased adoption of advanced technologies, well-established healthcare, and leading players in this region. In 2020, the regional market in the United States had a total net worth of over USD 4.85 billion; however, the Canadian market is anticipated to grow at a CAGR of 5.87% during the forecast period.
Companies such as Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Esaote SPA, Canon Medical Systems Corporation, Hologic, Inc., Hitachi Medical Corp., Shimadzu Corporation, Carestream Health, Inc., and Esaote SpA are a few of the noteworthy companies operating in the global medical digital imaging systems market

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