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Medical Imaging Workstations Market Grows to USD 1.38 Billion by 2023

By Medimaging International staff writers
Posted on 24 Jan 2019
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Image: The global medical imaging workstations market is projected to grow from USD 897 million to USD 1.38 billion by 2023 (Photo courtesy of Philips Healthcare).
Image: The global medical imaging workstations market is projected to grow from USD 897 million to USD 1.38 billion by 2023 (Photo courtesy of Philips Healthcare).
The global medical imaging workstations market is projected to grow at a CAGR of 8.9% to reach USD 1.38 billion by 2023 from USD 897 million in 2018, driven mainly by the rising global burden of target diseases, evolving user preference for digital platforms, increasing public-private investments to support product development, increased product commercialization, and establishment of new medical facilities.

These are the latest findings of MarketsandMarkets (Northbrook, IL, USA), a global market research company.

Based on modality, the magnetic resonance imaging (MRI) segment is expected to account for the largest share of the medical imaging workstations market in 2018. The growing demand for MRI equipment can be attributed to the increasing number of MRI examinations, rising adoption of MRI for brain imaging, increasingly interconnected diagnostic MRI workflows among multiple vendors (for effective resource management), greater digitalization of diagnostic imaging processes across major countries, and growing application of PACS in clinical workflows (such as in cardiology, ophthalmology, radiology, and dentistry).

Based on component, the visualization software segment is expected to register the highest growth rate in the medical imaging workstations market during the forecast period. The demand for visualization software is being driven mainly by the increasing number of diagnostic procedures performed across the globe (coupled with growing patient emphasis on early and accurate clinical diagnosis) and rising focus on development and commercialization of advanced image visualization & analysis software through strategic agreements and partnerships.

Geographically, North America is expected to dominate the global medical imaging workstations market in 2018 due to the high incidence/prevalence of various target diseases, presence of a large number of imaging centers, fast adoption of technologically advanced imaging systems, and strong presence of prominent market players in the region.

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