According to the research report titled ‘Global Medical Imaging Market (2021 Edition) - Analysis By Product (X-Ray, Ultrasound, MRI, CT Scan, Nuclear Imaging), End-User, Application, By Region, By Country: Market Insights and Forecast with Impact of Covid-19 (2021-2026)’, available with MarketStudyReport, global medical imaging market was worth USD 39.94 billion in 2020 and is anticipated to grow significantly during 2021-2026.

Growing popularity of new imaging devices, increasing technological advancements, and shifting preference from permanent equipment to portable equipment are the major growth determinants for global medical imaging market.

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For the unversed, the use of various imaging techniques to get visual representations of the interior of a body for diagnostic and therapeutic reasons is referred to as medical imaging. The field of medical imaging has progressed at a rapid rate, with technological innovations playing a critical part in the market expansion.

Growing prominence of big data with integration of electronic health record (EHR) in medical field as well as rising prevalence of chronic and acute ailments among the general population, including cardiovascular disease, cancer, and orthopedic disorders, has resulted in a large patient pool receiving medical imaging treatments around the world, which is boosting the industry outlook.

Moreover, rising focus of government on early diagnosis as a means of lowering total healthcare costs, is driving up the number of patients getting CT, MRI, ultrasound, and X-ray scans around the world, thus propelling worldwide medical imaging marketplace.

Availability of modern medical imaging modalities such as portable ultrasonography and portable CT scanners, which provide easy and useful health information for clinical assessment of the senior population as well as widespread product adoption in emergency medicine, cardiology, obstetrics & gynecology, and critical care anesthesiology for ICU patients are expected to augment industry trends during the forecast period.

Based on product terrain, the industry is branched into nuclear imaging systems, CT scanners, MRI systems, ultrasound imaging systems, and X-ray imaging systems. In terms of end-user scope, the market is divided into ambulatory imaging centers, diagnostic imaging centers, and hospitals.  On the basis of application ambit, the marketplace is classified into neurology, cardiovascular, orthopedics, and oncology.

Regionally, North America market holds significant revenue share at present and is anticipated to amass notable gains by 2026, owing to rising illness burden, and growing geriatric population base in the region.

The key players in global medical imaging industry are Koninklijke Philips N.V., MILabs, MR Solutions Group, Hologic, Inc., Carestream Health, Canon Medical Systems Corporation, FUJIFILM Sonosite, Inc., Mediso, General Electric Company, and Siemens Healthineers AG.