Medical Imaging Equipment Market is Estimated to Witness High Growth Owing to Technological Advancements
Medical imaging equipment refers to devices used to create visual representations of the interior of a body for clinical analysis and medical intervention, as well as visual representation of the function of some organs or tissues. This equipment includes X-ray systems, computed tomography (CT) scanners, magnetic resonance imaging (MRI) systems, ultrasound scanners and nuclear imaging equipment (SPECT/PET) among others. Medical imaging helps in early detection and diagnosis of various diseases. It reduces the need for exploratory surgeries and instead helps target surgical interventions.
The Global Medical Imaging Equipment Market is estimated to be valued at US$ 1.93 Mn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Medical Imaging Equipment are Nidec Corporation, Bosch, Mabuchi Motor Co Ltd, Abb Ltd, Siemens Ag, Denso Corporation, Maxon Motor Ag, Mitsuba Corporation, Johnson Electric Holdings Limited, Brose Fahrzeugteile Gmbh & Co. Kg, Portescap, Allied Motion Technologies Inc., Arc Systems Inc., Constar Micromotor Co. Ltd., BÃ1⁄4hler Motor GmbH, Fritz Faulhaber GmbH & Co. KG, Ebmpapst, Faulhaber Group, Chinabase Machinery (Hangzhou) Co. Ltd, Mini Motor. Key opportunities in the market include rising geriatric population prone to chronic diseases and growing demand for advanced medical imaging equipment from hospitals and diagnostic centers. Technological advancements such as development of AI-powered diagnostic imaging, high-resolution 3D/4D imaging, portable and hybrid imaging systems are driving the medical imaging equipment market.
Market Drivers
The key drivers propelling Medical Imaging Equipment Market Size are increasing incidence of chronic diseases globally, rising healthcare expenditure, growing demand for minimally invasive diagnostic and surgical procedures and rapid technological advancements. Chronic diseases such as cancer, cardiovascular diseases and neurological disorders have significantly increased worldwide. This is leading to rising demand for early detection and improved diagnostic accuracy provided by medical imaging systems. Technological advancements are focusing on improved safety and efficacy of these devices as well as reduced device costs. This is expected to increase adoption and drive the medical imaging equipment market during the forecast period.
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