In 2017, the global market for 3D medical imaging devices was valued at USD 10.8 million. The market is expected to grow at 5.9% CAGR over the forecast period. The market is expected to grow due to the rising global geriatric population and the rise in road traffic accidents. The market is also being driven by investments made by the government and private sectors, as well as advances in 3D imaging technology.
A 2017 UN report estimated that the global population accounted for 13.0% of those 65 years and older. This figure is increasing at a rate of 3.0% per year. Geriatrics are more susceptible to joint problems and musculoskeletal disease. Osteoarthritis, which is more common in older people than 65 years old, is associated with increased mortality and a decreased quality of living. Market drivers include the global increase in life-threatening and chronic diseases.
Market growth is expected to be driven by the emergence of 3D imaging scanners that can automatically scan 3D images and ongoing R&D in contrast agents. In the U.S., Omnipaque (Iohexol), was introduced by GE Healthcare in July 2018. This solution is used as a contrast medium and helps with visualization in the gastrointestinal tract.
According to the U.S. Centers for Disease and Control, organized sports participation has increased in the U.S. The 30 million Americans who participate in sports every year are responsible for approximately 2 million injuries, 500k doctor visits and 30,000 hospitalizations. The growing demand for point-of care imaging and a large addressable population has created new opportunities for 3D medical imaging.
The 3D medical imaging market can be divided into X-rays, Computed Tomography devices (CT), ultrasound systems and Magnetic Resonance Imaging equipment (MRI). The CT segment held the largest market share in 2017. Due to the high demand for increased cancer incidence globally, the nuclear imaging segment will experience the greatest CAGR.
Over the forecast period, the ultrasound systems segment will see a 7.0% CAGR. This is due to an increase in ultrasound scans around the globe and new product launches from industry giants. Siemens Healthineers launched the Acuson Sequoia ultrasound system in June 2018. It features contrast-enhanced ultrasound imaging. The BioAcoustic technology improves bubble longevity and sensitivity, and reduces diagnosis time.
The market can be divided into three segments based on its application: oncology (cardiology), and orthopedic. In 2017, the orthopedic segment held the largest market share, while the cardiology segment is expected to record the highest CAGR in 3D medical imaging device market over the forecast period.
The rise in road traffic accidents as well as the high number of elderly people with musculoskeletal conditions is responsible for the growth in the orthopedic market. According to the International Osteoporosis Foundation, 8.9 million fractures are reported each year. This is due to osteoporosis, which affects more 75 million people in Europe, the U.S. and Japan.
The market can be divided into three segments based on the solution: 3D scanning and rendering, modeling, and modelling. The largest market share was held by 3D rendering in 2017. This is due to 3D rendering solutions that use efficient ray-tracing algorithms for organ visualization.
Over the forecast period, the 3D modeling segment will experience the greatest CAGR. This growth can be attributed to the increased use of 3D modeling anatomical model in surgical procedures. These models save surgeons time and allow them to perform more efficient surgeries.
The market can be divided geographically into North America (MEA), Europe, Asia Pacific and Latin America (Europe), and Middle East and Africa(MEA). In 2017, North America accounted for over 60% of the market. Europe was second. North America's growth is due to the greater purchasing power of healthcare providers, including hospitals, long-term care centers and advanced specialty centers. The favorable reimbursement environment and well-established healthcare infrastructure are expected to be positive factors for regional growth over the forecast period.
Asia Pacific will see significant growth due to the improvement of healthcare infrastructure and growing medical tourism. The market is being held back by high costs of 3D medical imaging equipment and low adoption rates.
Siemens Healthineers, Esaote SpA, Koninklijke Philips N.V., GE Healthcare Ltd. and Hitachi Medical Systems are the key market players. They are focused on the launch of new products. At the 60th American Society for Radiation Oncology's annual meeting, Siemens presented its MAGNETOM RT Pro Edition for MAGNETOM Sola in October 2018. This new 1.5 Tesla MRI scanner was unveiled by Siemens. This scanner is equipped with hardware and software that can be used to aid in radiation therapy treatments.
This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2013 through 2026. Grand View Research has divided the global market for 3D medical imaging devices on the basis device type, solution, region, and application.
Device Type Outlook (Revenue USD Million, 2013-2026)
X-ray devices
CT
Ultrasound Systems
MRI
App Outlook (Revenue USD Million, 2013-2026)
Oncology
Cardiology
Orthopedic
Solution Outlook (Revenue USD Million, 2013-2026)
3D Scanning
3D Rendering
3D modeling
Regional Outlook (Revenue USD Million, 2013-2026)
North America
The U.S.
Canada
Europe
The U.K.
Germany
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Saudi Arabia
b. Global 3D medical imaging device market was valued at USD 12.6 billion in 2019, and is forecast to grow to USD 13.7 billion by 2020.
What is the growth rate of the market for 3D medical imaging devices?b. Global 3D medical imaging device market is expected grow at a compound annual rate of 5.9% between 2019 and 2026, reaching USD 20.8 billion in 2026.
Which segment had the largest market share for 3D medical imaging devices?b. With a 25.7% share in 2019, the CT segment dominated 3D medical imaging device market. This is due to the rising incidence of cancer worldwide.
What are the top players in the 3d medical imaging device market?b. b.
What are the driving factors for the market for 3D medical imaging devices?b. The market growth is being driven by two key factors: a growing global geriatric population and an increase in road accident cases.
Up Market Research published a new report titled “3D Medical Imaging Devices Market research report which is segmented by Application (Orthopedic, Cardiology, Oncology), by Device Type (MRI, X-ray, Ultrasound), By Players/Companies Siemens Healthineers; Esaote SpA; Koninklijke Philips NV; GE Healthcare Ltd; Canon Medical Systems; Hitachi Medical Systems; Shimadzu Corporation; DigiRad Corporation; and Del Medical Systems Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | 3D Medical Imaging Devices Market Research Report |
By Application | Orthopedic, Cardiology, Oncology |
By Device Type | MRI, X-ray, Ultrasound |
By Companies | Siemens Healthineers; Esaote SpA; Koninklijke Philips NV; GE Healthcare Ltd; Canon Medical Systems; Hitachi Medical Systems; Shimadzu Corporation; DigiRad Corporation; and Del Medical Systems Inc |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 240 |
Number of Tables & Figures | 168 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Orthopedic, Cardiology, Oncology), by Device Type (MRI, X-ray, Ultrasound).
3D Medical Imaging Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the 3D Medical Imaging Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the 3D Medical Imaging Devices Market Report:
Some other reports from this category!