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Medical Imaging Market
The GMI Research report envisages that the Medical Imaging Market is predicted to grow at a rate of 5.8% over the forecast period. The rise in the CAGR is because of the accelerating incidences of serious diseases, such as neurology and cardiovascular diseases, which have encouraged the emphasis on early diagnosis.
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Medical Imaging Market Dynamics
The accelerating incidences of chronic diseases have encouraged the demand for medical imaging across the nation, which is mainly responsible for the market's growth. For example, the incidences of chronic diseases are likely to expand by 60% by 2021, as asserted by the World Health Organisation. The mounting geriatric population is another crucial force contributing to the market growth. For example, according to the WHO, by 2050, the population aging 60 years or above is projected to touch 2 billion because of a sudden increase in the average life expectancy percentage has steered the Medical Imaging Market size. Further, the evolving technologies have influenced healthcare, which will compel market growth. For example, the evolution of artificial intelligence and three-dimensional printing has elevated the present and future of the market. As per the Medical Imaging Market report, the growing application of imaging devices in therapy, along with a switch towards precision medicaments, has steered the demand for imaging applications by digitalization.
Additionally, the Medical Imaging Market research report projects that the emphasis of leading players, such as GE Healthcare, Siemens Healthineers, and Shimadzu Corporation, to offer imaging therapy solutions will promote the market development. For example, Siemens Healthineers, in 2019, introduced a variety of diagnostic imaging therapy solutions in the field of magnetic resonance and radiography. Also, the company Siemens Healthineers produces over 60% of the income from its imaging segment. For instance, the company endangered 11,130 million in 2020 from its imaging business segment out of 17,706 million, the company's total revenue, which presents massive potential for the market.
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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Updated on January 28, 2022
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