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Global Medical Imaging Market Size to Grow by USD 35.8 Billion | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends

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WASHINGTON, Sept. 05, 2022 (GLOBE NEWSWIRE) — The market is expected to grow as a result of factors such as the rising incidence of lifestyle-related diseases, the rising demand for early detection tools, technological advancements to speed up turnaround times, increased government investment & reimbursement initiatives, and the expansion of new facilities by market players in developing countries.

Additionally, the emphasis on early diagnosis has increased due to the rising prevalence of chronic diseases like cardiovascular, neurologic problems, and other conditions, as well as the realignment of healthcare systems. For example, the Centers for Disease Control and Prevention (CDC) estimate that 18.2 million adults in the United States alone suffer from coronary artery disease (CAD) each year. Diagnostic imaging is the process of obtaining visual representations of a body’s interior for both diagnostic and therapeutic reasons using various imaging techniques. This covers a variety of modalities that are used to take pictures of the human body for the purpose of diagnosing and treating disorders and, as a result, is essential to improving general health. The Global Market revenue was valued at USD 27.5 Billion in 2021.

The Global Medical Imaging Market size is forecast to reach USD 35.8 Billion by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period; states Vantage Market Research, in a report, titled “Medical Imaging Market Size, Share & Trends Analysis Report by Products (X-Ray, Ultrasound, Computed Tomography, Magnetic Resonance Imaging (MRI), Nuclear Imaging), by End Users (Hospitals, Diagnostic Imaging Centers, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

Key Industry Findings & Insights from the report:

  • The global Medical Imaging Market was valued USD 27.5 Billion in 2021 and is all set to surpass USD 35.8 Billion by 2028, exhibiting a CAGR of 4.5% during the forecast period 2022-2028.          
  • In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
  • In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
  • The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
  • North America captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Medical Imaging industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

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Market Dynamics:

Drivers:

Introduction of Technologically Advanced Systems

The demand for medical imaging equipment is expected to surge by factors like the growing need for early and affordable diagnoses of chronic diseases and the aging global population. Two of the key reasons influencing the market growth are the introduction of technologically sophisticated gadgets and the expansion of the healthcare industry in Asian nations. For instance, Fujifilm Corporation introduced new Artificial Intelligence (AI) based lung nodule detection technology in May 2020. To help in the diagnosis of lung cancer, this technology is utilized to detect pulmonary nodules in chest CT scans.

Additionally, in order to capture whole-heart spectral pictures in one beat, Canon Medical Systems Corporation introduced One-Beat Spectral Cardiac CT in November 2020. This technology features quick kVp switching and deep learning spectral reconstruction. The introduction of various new goods is anticipated to increase demand, fueling the market’s expansion.

Artificial Intelligence Enabled Medical Imaging Equipment

One of the key factors driving the market’s growth is the introduction of cutting-edge imaging equipment. One of the key aspects projected to significantly contribute to the increasing product demand throughout the forecast period is the increasing adoption of powerful AI-enabled diagnostic equipment for speedy diagnosis and predictive analysis in developed countries. Only a small number of market firms are now offering AI-enabled imaging technology to the healthcare sector. As an illustration, in October 2019, Siemens Healthineers unveiled the Acuson Redwood ultrasound system, which provides an imaging solution for clinical divisions like radiology, cardiology, and obstetrics/gynecology. With numerous artificial intelligence (AI)-based capabilities for smart workflows and cardiology features, the system is portable and lightweight.

Additionally, Hologic, Inc. declared in December 2020 that Genius AI Identification technology had received U.S. Food and Drug Administration approval for the early detection of breast cancer. It is projected that the availability of AI-enabled technology will increase demand and fuel the expansion of the medical imaging industry.

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  • Assured Quality: Focuses on perfection and quality of reports.
  • Incomparable Skills: Our Analysts in-depth insights are beyond comparison.       

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide and the Global Medical Imaging Market is not an exception. Administrative bodies worldwide implemented curb measures, for instance, lockdown, to ensure strict social distancing norms to restrict the spread of the disease. Small and medium-scale industries which are technology partners to the Medical Imaging Market companies suffered impact due to the pandemic. In addition, the Medical Imaging Market was also impacted by the restricted movement of goods and people due to the lockdown measures in place during the beginning stages of the COVID-19 spread.

Since the beginning of 2022, the supplies and workforce are expected to resume normal which will further bolster Medical Imaging Market industry coming back on track. Vantage Market Research, while performing the research on the topic for the Global Medical Imaging Market has considered the end-to-end impact of COVID-19 on the Global Medical Imaging Market. In addition, the study also deep dives into the after-effects of the COVID-19 pandemic on the subsidiary units of the Medical Imaging Market industry. Furthermore, the study also does an exhaustive analysis while estimating the present and the future market size for the Global Medical Imaging Market industry primarily based on the aforementioned data points:

1. Impact Assessment of COVID-19 Pandemic

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America
  5. Middle East & Africa

2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

3. Key Strategies Undertaken by Companies to Tackle COVID-19

4. Long-Term Dynamics

5. Short-Term Dynamics

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/medical-imaging-market-1826

The report on Medical Imaging Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles

Regional Analysis:

North America is expected to dominate the growth of Medical Imaging Market in 2021. Due to China’s expanding demand for high-quality materials, the region of North America is expected to dominate the Medical Imaging Market. Additionally, expanding consumer spending habits and changing client preferences will increase demand for the goods. In addition, it is anticipated that the growth of several production industries and improvements will support the rubber compound industry’s expansion.

List of Prominent Players in Medical Imaging Market:

  • GE Healthcare
  • Koninklijke Philips N.V.
  • Siemens Healthineers
  • Canon Medical Systems Corporation
  • Mindray Medical International
  • Esaote
  • Hologic Inc.
  • Samsung Medison Co. Ltd.
  • Koning Corporation
  • Perkin Elmer Inc.
  • FUJIFILM Visual Sonics Inc.
  • Cubresa Inc.

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on “Medical Imaging Market Size, Share & Trends Analysis Report by Products (X-Ray, Ultrasound, Computed Tomography, Magnetic Resonance Imaging (MRI), Nuclear Imaging), by End Users (Hospitals, Diagnostic Imaging Centers, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)“.

Recent Developments:

In May 2021, Siemens Healthcare GmbH launched SomatomX.ceed, a new and efficient version of the SomatomX.cite system that the company launched in 2019.

May 2021, Koninklijke Philips N.V. launched Spectral CT 7500, a new flagship CT scanner intended to perform spectral imaging for routine daily use.

March 2021, Hitachi, Ltd. launched two new permanent MRI systems APERTO Lucent Plus, a 0.4T permanent open MRI, and the AIRIS Vento Plus, a 0.3T at the European Congress of Radiology.

July 2020, FUJIFILM Sonosite, Inc. launched the Sonosite PX ultrasound system. Sonosite PX is the next generation in Sonosite POCUS, with the most advanced image clarity.

Key Questions Answered in The Report:

  • Which region will show the fastest and highest growth in the near future?
  • Which are the top five players and their weakness and strength of the Market?
  • What will be the future innovation in the upcoming six years?
  • Which application and product will lead the largest share of the Market?
  • What are the growth drivers, restraints and challenges of the industry?
  • What will be the CAGR and size of the Medical Imaging Market for the base year and forecast period?    

This market titled “Medical Imaging Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2021
Historic Years 2016-2020
Forecast Years 2022-2028
Segments Covered
  • Products
    • X-Ray
    • Ultrasound
    • Computed Tomography
    • Magnetic Resonance Imaging (MRI)
    • Nuclear Imaging
  • End Users
    • Hospitals
    • Diagnostic Imaging Centers
    • Other End Users
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa
Region & Counties Covered
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K
    • France
    • Germany
    • Italy
    • Spain
    • Rest Of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South East Asia
    • Rest Of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest Of Latin America
  • Middle East & Africa
    • GCC countries
    • South Africa
    • Rest Of Middle East & Africa
Companies Covered
  • GE Healthcare
  • Koninklijke Philips N.V.
  • Siemens Healthineers
  • Canon Medical Systems Corporation
  • Mindray Medical International
  • Esaote
  • Hologic, Inc.
  • Samsung Medison Co. Ltd.
  • Koning Corporation
  • Perkin Elmer Inc.
  • FUJIFILM Visual Sonics Inc.
  • Cubresa Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on [email protected] or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research reports. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.   

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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