Medical imaging market to reach USD 47.4B by 2030

According to SkyQuest’s latest global research of the medical imaging market, technological innovations, particularly in modalities such as Magnetic Resonance Imaging (MRI), Computed Tomography (CT), and ultrasound, contribute significantly to market growth. The integration of artificial intelligence (AI) and machine learning algorithms enhances the efficiency and accuracy of medical imaging interpretation, aiding healthcare professionals in making more informed decisions.

The medical imaging market involves the production and application of advanced technologies for visualizing the interior of the body in medical diagnosis. Utilizing modalities such as X-ray, MRI, CT, and ultrasound, it plays a crucial role in disease detection, treatment planning, and medical research, contributing to improved patient care.

MRI demand to grow substantially in forecast period
MRI offers detailed and versatile imaging of soft tissues, making it crucial for neurological, musculoskeletal, and abdominal imaging. As a non-ionizing imaging modality, MRI is favoured for its safety, especially for repetitive scans and imaging in sensitive populations. Continuous improvements in MRI technology, including higher field strengths and functional imaging capabilities, contribute to its sustained dominance.

AI and machine learning is leading technology type segment
AI and machine learning algorithms are increasingly integrated into medical imaging technologies to enhance image analysis, improve accuracy in diagnosis, and assist healthcare professionals in decision-making. AI-driven automation streamlines the interpretation process, reducing the time required for image analysis and allowing for more efficient healthcare workflows. AI algorithms contribute to early detection of abnormalities and assist in the identification of subtle patterns in medical images, particularly in oncology and radiology.

North America is the leading market due to advancements in medical technology
Region-wise, North America boasts sophisticated healthcare systems with well-established infrastructure, contributing to the widespread adoption of cutting-edge medical imaging technologies. Early adoption of new imaging modalities and continuous research and development activities in the United States and Canada contribute to the region’s leadership in the market.

A recent report thoroughly analyses the major players operating within the medical imaging market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Medical Imaging. SkyQuest Technology