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Global Medical Imaging Market 2017-2021

Global Medical Imaging Market 2017-2021

About Medical Imaging

body for clinical analysis and medical intervention. Medical imaging is performed to reveal the internal structures hidden by the skin and bones to examine and diagnose the medical condition. It plays a vital role not only in diagnosis but also in the treatment process as it is taken into consideration during the follow-up of various diseases. Various methods for medical imaging include X-rays, SPECT/PET, ultrasound, CT, and MRI. For the diagnosis and treatment of various diseases, these methods are used individually or in combination for a better understanding of the medical condition.

Technavio’s analysts forecast the global medical imaging market to grow at a CAGR of 4.95% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global medical imaging market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of medical imaging equipment by product type such as:

  • MRI
  • CT Scanners
  • X-rays
  • Single-photon emission computed tomography (SPECT) and positron emission tomography (PET)
  • Ultrasound
The market is divided into the following segments based on geography:
  • Americas
  • APAC
  • EMEA
Technavio's report, Global Medical Imaging Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Fujifilm
  • GE Healthcare
  • Hitachi Medical
  • Philips Healthcare
  • Siemens Healthcare
  • Toshiba Medical Systems
Other prominent vendors
  • Accuray
  • Accutome
  • Alpinion Medical Systems
  • Analogic Corporation
  • ASAHI Roentgen
  • BenQ Medical Technology
  • Shenzhen Bestman Instrument
  • BMV Technology
  • Boston Scientific
  • Brain Biosciences
  • BrainLab
  • Bruker
  • Capintec
  • Carestream Health
  • Cephasonics
  • Chison
  • CMR Naviscan
  • ContextVision
  • CurveBeam
  • DDD-Diagnostic
  • Delphinus Medical Technologies
  • Ecare
  • EOS imaging
  • Esaote SpA
  • Fuel 3D Technologies
  • Gendex
  • GlobalMed
  • Guangzhou Yueshen Medical Equipment
  • Healcerion
  • Hologic
  • Imaging Sciences International
  • Insightec
  • Intelerad Medical System
  • Intrasense SAS
  • J. Morita Corporation
  • Jiangsu TongRen Medical Electronic Technology
  • Konica Minolta
  • MedGyn
  • Mediso
  • Mindray Medical International Limited
  • Mithil Scans
  • Mobisante
  • NanoVibronix
  • Neurologica
  • NeuSoft
  • Planmeca Oy
  • Samsung Medison America
  • Shimadzu Corporation
  • Sirona
  • Sonostar
  • Sophie Biosciences
  • SOREDEX
  • St. Jude Medical
  • Sterne Medical
  • Telemed
  • TomTec Imaging Systems GmbH
  • Trivitron Healthcare
  • Viking Systems
  • Wuhan Tianyi Electronic
  • Xoran
  • Zhuhai Carelife Medical Technology
  • Zonare Medical Systems
  • Zoncare
Market driver
  • Growing government initiatives coupled with funding and partnership with equipment manufacturers
  • For a full, detailed list, view our report
Market challenge
  • Growing end-users' preference toward refurbished equipment
  • For a full, detailed list, view our report
Market trend
  • Growing demand for portable imaging equipment
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Medical Imaging Market 2017-2021

Technavio recognizes the following companies as the key players in the global medical imaging market: Fujifilm, GE Healthcare, Hitachi Medical, Philips Healthcare, Siemens Healthcare, and Toshiba Medical Systems

Other Prominent Vendors in the market are: Accuray, Accutome, Alpinion Medical Systems, Analogic Corporation, ASAHI Roentgen, BenQ Medical Technology, Shenzhen Bestman Instrument, BMV Technology, Boston Scientific, Brain Biosciences, BrainLab, Bruker, Capintec, Carestream Health, Cephasonics, Chison, CMR Naviscan, ContextVision, CurveBeam, DDD-Diagnostic, Delphinus Medical Technologies, Ecare, EOS imaging, Esaote SpA, Fuel 3D Technologies, Gendex, GlobalMed, Guangzhou Yueshen Medical Equipment, Healcerion, Hologic, Imaging Sciences International, Insightec, Intelerad Medical System, Intrasense SAS, J. Morita Corporation, Jiangsu TongRen Medical Electronic Technology, Konica Minolta, MedGyn, Mediso, Mindray Medical International, Mithil Scans, Mobisante, NanoVibronix, Neurologica, NeuSoft, Planmeca Oy, Samsung Medison America, Shimadzu Corporation, Sirona, Sonostar, Sophie Biosciences, SOREDEX, St. Jude Medical, Sterne Medical, Telemed, TomTec Imaging Systems GmbH, Trivitron Healthcare, Viking Systems, Wuhan Tianyi Electronic, Xoran, Zhuhai Carelife Medical Technology, Zonare Medical Systems, and Zoncare

Commenting on the report, an analyst from Technavio’s team said: “The global medical imaging market has been witnessing a trend of strategic initiatives. The market is highly competitive and to survive the competition, vendors are adopting strategic collaborations and mergers and acquisitions. Leading vendors acquire other complementary players to improve their geographical presence and enhance their expertise. With the growing demand for medical imaging equipment such as MRI, CT Scanners, X-rays systems, SPECT/PET equipment, and ultrasound systems, vendors are looking to implement inorganic growth strategies such as mergers or acquisitions. Further, the market is highly cost intensive, which will drive the companies to adopt inorganic strategies. These strategies allow the vendors to quickly penetrate the market by leveraging the products of the acquired player. Also, this will enable the companies to capitalize on the existing market presence of the acquired player.”

According to the report, general X-rays is the leading segment in the overall global medical imaging market. However, conventional analog X-ray systems has reached maturity and is growing at a slow rate, especially in developed countries, as the technology has become obsolete and is being replaced by newer technologies. The market has been witnessing upgrades of analog X-ray systems to digital X-ray systems. With the increased cost of digital X-ray systems, manufacturers have found a cost effective solution to convert analog X-ray systems to digital X-ray systems. This can be done by using retrofit kits. Retrofit kits are also used to convert analog X-ray systems into computed radiography systems by harnessing detection devices such as high-density solid scan systems or flat panel detectors. The average cost of a retrofit is approximately $105,000, while a new digital radiography system costs approximately $180,000. For instance, Carestream Health launched mobile retrofit kits such as DRX mobile retrofit kit, DRX transportable, and DRX field portable. The introduction of such technologies have made it possible for hospitals and other diagnostic centers to refurbish their analog systems at a cheaper price.

Further, the report states that the global medical imaging market is experiencing an increased shift toward the use of refurbished systems due to the high cost of the device and installation. Small diagnostic centers will not be able to afford these expenses, so they prefer used and refurbished medical imaging equipment as they are available at a low price in comparison with new ones and come with a warranty period of a couple of years. Many local vendors are engaged in the import/export of used and refurbished equipment. Apart from the low purchasing power and the lack of awareness in developing nations, customers trust local companies that provide products at a low cost and have better aftersales support. This trend will help low-cost hospitals gain access to medical imaging technologies.

Companies Mentioned

ujifilm, GE Healthcare, Hitachi Medical, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems, Accuray, Accutome, Alpinion Medical Systems, Analogic Corporation, ASAHI Roentgen, BenQ Medical Technology, Shenzhen Bestman Instrument, BMV Technology, Boston Scientific, Brain Biosciences, BrainLab, Bruker, Capintec, Carestream Health, Cephasonics, Chison, CMR Naviscan, ContextVision, CurveBeam, DDD-Diagnostic, Delphinus Medical Technologies, Ecare, EOS imaging, Esaote SpA, Fuel 3D Technologies, Gendex, GlobalMed, Guangzhou Yueshen Medical Equipment, Healcerion, Hologic, Imaging Sciences International, Insightec, Intelerad Medical System, Intrasense SAS, J. Morita Corporation, Jiangsu TongRen Medical Electronic Technology, Konica Minolta, MedGyn, Mediso, Mindray Medical International, Mithil Scans, Mobisante, NanoVibronix, Neurologica, NeuSoft, Planmeca Oy, Samsung Medison America, Shimadzu Corporation, Sirona, Sonostar, Sophie Biosciences, SOREDEX, St. Jude Medical, Sterne Medical, Telemed, TomTec Imaging Systems GmbH, Trivitron Healthcare, Viking Systems, Wuhan Tianyi Electronic, Xoran, Zhuhai Carelife Medical Technology, Zonare Medical Systems, Zoncare.

  • Executive summary
  • Scope of the report
    • Market overview
      • Table Key countries
    • Vendors
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Medical imaging: An overview
    • Market snapshot
      • Table Snapshot of global medical imaging market
      • Table Key buying criteria for medical imaging equipment
      • Table Buying criteria for medical imaging equipment
  • Market landscape
    • Market overview
      • Table Global medical imaging market growth perspectives: Developed and emerging markets
    • Market size and forecast
      • Table Global medical imaging market 2017-2021 ($ billions)
      • Table Opportunity analysis of global medical imaging market
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product
    • Table Global medical imaging market by product type 2016 and 2021 (% share)
    • Table Global medical imaging market segmentation by product type 2017-2021 (% share)
    • Global general X-ray imaging market
      • Table Global general X-ray imaging market 2016-2021 ($ billions)
    • Global ultrasound imaging market
      • Table Global ultrasound imaging market 2016-2021 ($ billions)
    • Global MRI imaging market
      • Table Global MRI imaging market 2016-2021 ($ billions)
    • Global CT scanner imaging market
      • Table Global CT Scanner imaging market 2016-2021 ($ billions)
    • Global SPECT/PET imaging market
      • Table Global SPECT/PET imaging market 2016-2021 ($ billions)
  • Market segmentation by application
    • Table Global medical imaging market segmentation by application 2016
    • Medical imaging in obstetrics and gynecology
    • Medical imaging in radiology
    • Medical imaging in cardiology
    • Medical imaging in orthopedic disorders
    • Medical imaging in neurology
    • Medical imaging in other therapy areas (abdominal, urology, ocular, procedural guidance studies, hepatology, anesthesiology, emergency care and others)
  • Market segmentation by end-user
    • Table Global medical imaging market segmentation by end-user 2016
    • Hospitals
    • Diagnostic centers
    • Research centers
    • Homecare
  • Market segmentation by size
    • Bulky/stationary/cart-wheel based medical imaging equipment
      • Table Global medical imaging market segmentation by size 2016
    • Handheld/portable
  • Geographical segmentation
    • Market overview
      • Table Global medical imaging market segmentation by geography 2016 and 2021 (% share)
      • Table Global medical imaging market segmentation by percentage share 2016-2021
      • Table Snapshot of global medical imaging market by geography 2016 and 2021
    • Medical imaging market in Americas
      • Table Medical imaging market in Americas
      • Table Global medical imaging market: Revenue/growth outlook in different regions/countries 2016
      • Table Medical imaging market in Americas 2016-2021 ($ billions)
    • Medical imaging market in EMEA
      • Table Medical imaging market in EMEA
      • Table Medical imaging market in EMEA 2016-2021 ($ billions)
    • Medical imaging market in APAC
      • Table Medical imaging market in APAC
      • Table Medical imaging market in APAC 2016-2021 ($ billions)
  • Market drivers
    • Growing government initiatives coupled with funding and partnerships with equipment manufacturers
    • Broader applications of medical imaging
      • Table Popular medical imaging equipment used in various therapy areas
    • Technological advancements in diagnostic imaging modalities
    • Upgradation of analog X-ray radiography to digital radiography
      • Table List of major hospitals upgraded from analog to digital X-ray systems in North America
    • Increased need for early diagnosis and preventive medicine
      • Table Survival rates based on early diagnosis of breast cancer
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Product recalls
      • Table Major product recalls
    • Growing end-users' preference toward refurbished equipment
    • High installation and maintenance costs
    • Market entry barriers for new companies
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Growing demand for portable imaging equipment
      • Table Examples of portable X-ray systems
    • Strategic initiatives
      • Table Major acquisitions witnessed in medical imaging market
      • Table Major strategic collaborations witnessed in global medical imaging market
    • New product launches and approvals
      • Table Recent product launches/approvals of medical imaging equipment
    • Growing importance of tele-imaging
    • Growing demand for multimodality/hybrid medical imaging equipment
    • Inclination toward homecare
  • Vendor landscape
    • Competitive scenario
      • Table Presence of vendors in global medical imaging market 2016
      • Table Percentage share of vendors in global medical imaging market 2016
    • Key news
    • Mergers & acquisitions
  • Key vendor analysis
    • Geographic presence of key vendors
      • Table Regional analysis of key vendors
    • Fujifilm
      • Table Fujifilm profile
      • Table Fujifilm strength assessment
      • Table Fujifilm strategy assessment
      • Table Fujifilm opportunity assessment
    • GE Healthcare
      • Table GE Healthcare profile
      • Table GE Healthcare strength assessment
      • Table GE Healthcare strategy assessment
      • Table GE Healthcare opportunity assessment
    • Hitachi Medical
      • Table Hitachi Medical profile
      • Table Hitachi Medical Systems strength assessment
      • Table Hitachi Medical Systems strategy assessment
      • Table Hitachi Medical Systems opportunity assessment
    • Philips Healthcare
      • Table Philips Healthcare profile
      • Table Philips Healthcare strength assessment
      • Table Philips Healthcare strategy assessment
      • Table Philips Healthcare opportunity assessment
    • Siemens Healthcare
      • Table Siemens Healthcare profile
      • Table Siemens Healthcare strength assessment
      • Table Siemens Healthcare strategy assessment
      • Table Siemens Healthcare opportunity assessment
    • Toshiba Medical Systems
      • Table Toshiba Medical Systems profile
      • Table Toshiba Medical Systems strength assessment
      • Table Toshiba Medical Systems strategy assessment
      • Table Toshiba Medical Systems opportunity assessment
    • Other prominent vendors
  • Appendix
    • List of abbreviation
  • Explore Technavio

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