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Medical imaging market to reach USD 68.8B by 2030

According to the report published by Allied Market Research, the global medical/diagnosing market garnered $38.5 billion in 2020, and is expected to reach $68.8 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Increasing prevalence of chronic diseases: The rising incidence of chronic diseases such as cardiovascular disorders, cancer, neurological disorders, and orthopedic conditions drives the demand for medical imaging. Imaging techniques play a crucial role in the early detection, diagnosis, and monitoring of these diseases, thereby facilitating timely treatment and improved patient outcomes.

Technological advancements: Continuous advancements in medical imaging technology have significantly improved the quality and efficiency of diagnostic imaging. Innovations such as higher-resolution scanners, faster imaging techniques, three-dimensional (3D) and four-dimensional (4D) imaging, and hybrid imaging modalities have enhanced the accuracy, speed, and comprehensiveness of medical imaging, driving its adoption.

Regional growth dynamics:
Growing demand in emerging markets: The medical imaging market is witnessing significant growth in emerging markets, driven by improving healthcare infrastructure, rising healthcare spending, and increasing awareness about early disease detection. Countries in Asia-Pacific, Latin America, and the Middle East are expected to present lucrative opportunities for market players. Allied Market Research

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