According to the research report titled ‘Medical Imaging Market Size By Product, By End-use, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report, global medical imaging market is expected to witness notable growth during 2020-2026.
 

Improved cognizance regarding early diagnosis of chronic diseases, rising geriatric population, and technological advancements are the major factors augmenting global medical imaging market trends. Furthermore, large scope of product in clinical applications is likely to contribute to the market growth.
 

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Medical imaging is a process that helps is generating images of various parts of human body for treatment and diagnostic purposes. The technology used for medical imaging provides information about a body part or area, which can be then studied for examining effectiveness of medical treatment for possible disease or injury. It is looked upon as one of the most powerful resources for medical care available due to applications in therapeutic and diagnosis purposes, thereby fueling global medical imaging industry outlook.
 

With respect to product type, the MRI segment of global medical imaging market is expected to expand at 5% CAGR over the forecast period, mainly due to extensive application of MRI systems in spinal cord, brain, and interior ligament imaging.
 

In terms of end-use scope, global medical imaging market size from diagnostic centers accounted for USD 10 billion in 2019 and is expected to multiply further in the coming years, owing to rising adoption of medical imaging devices in the diagnostic centers.
 

From a regional overview, Latin America contributed 11% share to global medical imaging industry remuneration in 2019 and is poised to grow substantially through 2026, majorly due to technological advancements. Rising cases of chronic diseases in the region will encourage large manufactures to launch innovative devices, hence swaying the business dynamics forward. For example, Miroculus Inc. recently launched a new technology for early detection of cancer which is likely to be affordable, smarter, and more effective. Furthermore, rising foreign investments coupled with policies & regulations promoting innovations in healthcare sector are contributing to the market growth in Latin America.
 

Key players operating in global medical imaging market are Philips Healthcare, Hitachi Medical Systems, Siemens Healthineers, Canon Medical Systems Corporation, Hologic Inc., Fujifilm Holdings Corporation, GE Healthcare, Carestream Health Inc., Samsung Medison, and Esaote SpA.