Global Medical Digital Imaging Systems Market By Type (CT, Ultrasound, X-ray, Nuclear Imaging and MRI), By Technology (2D and 3D/4D), By Region, Industry Analysis and Forecast, 2020 - 2026
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The Global Medical Digital Imaging Systems Market size is expected to reach $28 billion by 2026, rising at a market growth of 10.4% CAGR during the forecast period. Medical imaging is the technique of generating visual illustrations of the internal parts of the body for medical intervention and clinical analysis. A medical digital imaging system means using different modalities in order to get a visual representation of the interior parts of the body for therapeutic and diagnostic purposes.
Medical Digital Imaging Systems Market Size, By Technology, 2020-2026
The medical imaging system is updated from bedside monitoring to that of a high-end digital imaging system. The medical digital imaging systems are highly regulated. It is globally regulated by the Digital Imaging and Communication in Medicine (DICOM) standard, in order to transmit, store, and for exchanging medical digital images. The DICOM regulatory Standard comprises protocols that are used for imaging techniques, including radiography, computed tomography (CT), ultrasound, radiation therapy, and magnetic resonance imaging (MRI).
The digital imaging system is accompanied by a large number of clinical and economical advantages. It is beneficial in improving patient care services, it also delivers cost-effective and workflow aids to the radiology department and hospitals. Furthermore, advancement in technologies and point-of-care ultrasound systems are preferred by medical professionals as well as patients. The wearable imaging scanners, like magnetoencephalography (MEG) brain scanners, are portable, and they are bringing a revolution in the market of the medical imaging system.
Medical Digital Imaging Systems Market Share, By Type, 2019
The market is likely to grow in the developing regions of the Asia-Pacific and other LAMEA nations. There are many reasons for this unparalleled growth of the market, some of the factors include a large patient population that is undiagnosed, increasing awareness among people about early diagnosis of diseases swift urbanization, better government funding towards chronic disorders, and surge in disposable income. Though, as the medical imaging systems are of higher-cost so developing countries like India and China would remain a major challenge for the leading innovators to reduce the cost of such products to improve the diagnostic imaging market.
Free Valuable Insights: Global Medical Digital Imaging Systems Market to reach a market size of $28 billion by 2026
Based on Type, the market is segmented into CT, Ultrasound, X-ray, Nuclear Imaging and MRI. Based on Technology, the market is segmented into 2D and 3D/4D. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
KBV Cardinal Matrix - Medical Digital Imaging Systems Market Competition Analysis
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; Samsung Electronics Co., Ltd., Siemens AG, and Medtronic PLC are the forerunners in the Medical Digital Imaging Systems Market. Companies such as Koninklijke Philips N.V., Canon, Inc., General Electric (GE) Co., Esaote SpA, Shimadzu Corporation, Hologic, Inc., and Hitachi, Ltd. are some of the key innovators in the market.
|Market size value in 2019||USD 16.3 Billion|
|Market size forecast in 2026||USD 28 Billion|
|Historical period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 10.4% from 2020 to 2026|
|Number of Pages||196|
|Number of Tables||274|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Analysis, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Technology, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), Medtronic PLC, Hitachi, Ltd., Canon, Inc. (Canon Medical Systems Corporation), Siemens AG (Siemens Healthineers), General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Hologic, Inc., Esaote SpA, and Shimadzu Corporation.
Recent Strategies Deployed in Medical Digital Imaging Systems Market
» Partnerships, Collaborations, and Agreements:
- Sep-2020: Hologic signed a distribution agreement with Micrima Ltd., the breast imaging company. The company will distribute the new radio-wave breast imaging system, MARIA. Under the terms of the agreement, Hologic will act as the sales and distribution partner for Micrima in Germany, Austria, and Switzerland (DACH). Micrima has been working to develop a breast imaging system that can be used frequently from a young age to reduce the number of deaths from breast cancer.
- Aug-2020: Hologic teamed up with RadNet, Inc., a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services. The collaboration was focused on the advancement of the use of artificial intelligence (A.I.) in breast health. Hologic would contribute capabilities and insights behind its market-leading hardware and software and would benefit from access to data produced by RadNet’s fleet of high-resolution mammography systems, the largest in the nation, to train and refine current and future products based on A.I.
- Jul-2020: Royal Philips signed an agreement with the U.S. Department of Veterans Affairs. Under this agreement, the former company helped the VA to expand its telecritical care program. The agreement includes investment in care tools such as diagnostic imaging, sleep solutions, and patient monitoring.
- Jul-2020: Hitachi signed a contract with HOYA Corporation regarding Endoscopic Ultrasound Systems [EUS]. Under this contract, the companies strengthened technical collaboration, and Hitachi would be supplying diagnostic ultrasound systems and ultrasound sensor-related parts used in EUS.
- Jun-2020: Siemens Healthineers announced its partnership with Geisinger, a regional health care provider. Following the partnership, the companies aimed to advance and support digital healthcare for providers, patients, and communities. Siemens Healthineers would provide Geisinger access to its latest digital health innovations, diagnostic imaging equipment, and on-site staff to support improvements.
- Jun-2020: Canon Medical Systems signed an agreement with R-Pharm Holding, LLC. The agreement was signed for establishing a joint venture for sales and maintenance of diagnostic imaging equipment, manufactured by Canon Medical. The joint venture aims to deal with Canon Medical’s advanced product sales and maintenance.
- Mar-2020: Royal Philips came into partnership with Paracelsus Clinics for modernizing the latter’s medical imaging systems in the next eight years. The partnership aims to provide solutions to enhance the availability of imaging systems and standardize equipment operation.
- Feb-2020: Canon Medical extended its agreement with Varex Imaging Corporation. Together, the companies would bring next-generation imaging systems of innovative X-ray based technology, which can accelerate time to market and reduce the total cost of ownership. Varex would supply its computed tomography (CT) tubes and heat exchangers for integration into Canon Medical Systems’ CT imaging systems for the global market.
- Dec-2019: Royal Philips partnered with South Jersey healthcare organization, Inspira Health. The partnership helped Inspira in standardizing patient monitoring and improving diagnostic imaging solutions at more than a dozen facilities.
- Dec-2019: GE Healthcare came into an agreement with Affidea, the pan-European leader in advanced diagnostic imaging, outpatient, and cancer care services. The agreement was focused on deploying imaging and digital technologies across the Affidea network. The agreement included the provision of 60 new MRIs, 50 ultrasound devices, 40 CT scanners, and 30 X-rays machines in the next 3 years. It also included a six-year service contract.
- Nov-2019: Hitachi Healthcare collaborated with Christie Innomed following which the latter company aimed to distribute Hitachi's diagnostic and surgical ultrasound imaging systems in Canada. Together, Christie Innomed's long-standing experience in diagnostic imaging sales, technical service, and clinical support make them the ideal partner to grow Hitachi's market share in Canada.
- Feb-2019: Esaote and Glassbeam signed partnership agreement with Prestige Medical Imaging (PMI), the largest independent provider of digital imaging technology and services for medical facilities. The partnership expanded PMI's product portfolio to include; Analytics Software Solutions and Ultrasound and MRI Systems.
» Acquisition and Mergers:
- Apr-2020: Shimadzu Medical Systems acquired Core Medical Imaging, a subsidiary of SMS into the company. CMI is starting its new operation under the name of the SMS Northwest branch, located in Kenmore, WA. The acquisition strengthened its business development for Interventional X-ray systems used in vascular diagnostic treatments and for the continuous growth of our service business by taking advantage of the excellent business reputation.
- Aug-2019: Royal Philips acquired Carestream Health's healthcare information solutions business. Healthcare providers around the world now have access to a broader portfolio of healthcare IT systems from Philips to simplify medical image management, enabled effective collaboration, and enhanced patient care.
- Dec-2018: Medtronic completed the acquisition of Mazor Robotics, the medical device company. The acquisition enabled Medtronic to become a leader in spinal surgery using guided robotics and combine its spine implants, navigation, and 3D imaging technology with Mazor’s robotic-assisted surgery systems.
» Product Launches and Product Expansions:
- Aug-2020: Canon Medical Systems unveiled the Soltus 500 Mobile Digital X-ray. This X-ray provided facilities with access to a system that is equipped with enhancements that can streamline bedside exams to help improve workflow and productivity.
- Dec-2019: Samsung introduced the advanced ultrasound system, RS85 Prestige, the next-generation RS85. The system features new imaging architecture and value-added features. The new imaging architecture includes Crystal Architecture that integrates the CrystalBeam beamformer and CrystalPure imaging engine, with the S-Vue Transducer, to provide crystal-clear images. The ultrasound system is also equipped with value-added features including MV-Flow with LumiFlow, which provides a detailed view of blood flow with enhanced spatial and temporal resolutions and provides 3D visualization with continuous and 3D-like vascular images.
- Apr-2019: Canon Medical Systems USA introduced the Aplio a-series, a new line of ultrasound systems. These systems deliver high performance for multiple clinical uses at an affordable price point. The systems have been designed with the imaging, ergonomics, and workflow capabilities of Canon Medical’s premium ultrasound systems.
- Mar-2019: Royal Philips launched the latest Imaging Systems range with solutions including the Next MR Wave (Ingenia Ambition, IngeniaElition), Epiq Elite Ultrasound System, DigitalDiagnost C90 (Digital X-ray), Intellispace Discovery, Compressed SENSE, and Philips IQon (CT). These solutions provide various benefits including improved outcomes, enhanced patient experience, increased staff satisfaction, and lowered the cost of care delivery.
- Mar-2019: Canon Medical Systems USA released the new, advanced angiography configuration, the AlphenixTM 4D CT. This system features Alphenix Sky + C-arm and Hybrid Catheterization Tilt/Cradle Table for interventional procedures with its premium AquilionTM ONE / GENESIS Edition CT system. The new pairing offers a fully integrated interventional imaging system to perform a wide variety of procedures, allowing clinicians to efficiently plan, treat, and verify in a single clinical setting. The flexible hybrid system enabled a streamlined workflow and an outstanding range of patient access and coverage.
- Feb-2019: Royal Philips introduced the DigitalDiagnost C90, a new ceiling-suspended digital radiography system. The system delivers a live tube camera, versatile room configuration capabilities, and exam automation technologies that work harmoniously to provide improved patient and Radiographer experiences.
Scope of the Medical Digital Imaging Systems Market Analysis
- Nuclear Imaging
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Samsung Electronics Co., Ltd. (Samsung Group)
- Medtronic PLC
- Hitachi, Ltd.
- Canon, Inc. (Canon Medical Systems Corporation)
- Siemens AG (Siemens Healthineers)
- General Electric (GE) Co. (GE Healthcare)
- Koninklijke Philips N.V.
- Hologic, Inc.
- Esaote SpA
- Shimadzu Corporation
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Medical Digital Imaging Systems Market Related Reports:
What would be the size of medical digital imaging systems market by 2026?
The global medical digital imaging systems market size is expected to reach $28 billion by 2026.
Who are the leading players in medical digital imaging systems market?
Samsung Electronics Co., Ltd. (Samsung Group), Medtronic PLC, Hitachi, Ltd., Canon, Inc. (Canon Medical Systems Corporation), Siemens AG (Siemens Healthineers), General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Hologic, Inc., Esaote SpA, and Shimadzu Corporation.
At what CAGR is the medical digital imaging systems market estimate to grow in the forecast period?
The expected CAGR of medical digital imaging systems market is 10.4% from 2020 to 2026.
What are the key factors that drive medical digital imaging systems industry?
There are several reason that cause high demand of this market one of them is increasing occurrence of chronic diseases.
Which region dominated the medical digital imaging systems market in 2019?
The North America led the market in the year 2019 due to the increased adoption of advanced technologies and enhanced healthcare infrastructure, great procuring power, and favorable and better reimbursement structure.