Healthcare Scanner Market Overview
Healthcare Scanner market size is estimated to reach $61.2 billion by 2026, growing at a CAGR of 5.1% during the forecast period 2021-2026. Healthcare scanners provide a visual representation of the anatomy to aid doctors in diagnostics. They play an important role in medical diagnostics and therapeutics as imaging systems enable medical professionals to make processes within the human body visible. This helps doctors diagnose pathological changes and thereby, accurately decide which procedures to perform in order to eliminate any abnormalities. An increase in demand for early-stage diagnostics and a significant rise in lifestyle illnesses among the global population are major drivers for the healthcare scanner market. However, the high cost of scanning equipment is a major challenge that is likely to restrain the market in the forecast period.
The report: “Healthcare Scanner Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Healthcare Scanner Market.
By Product: MRI, CT, PET, X-Ray, Ultrasound, Bone Densitometry.
By Department: Cardiology, Neurology, Oncology, Gynaecology, ENT, Orthopaedics.
By End User: Hospitals and Labs/Diagnostic centers
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa)
- The market is dominated by North America. It is followed by Europe and the Asia Pacific. Growth in the North America segment is primarily driven by an increase in the aging population, increase in the prevalence of lifestyle diseases, high end-user purchasing power, and sophisticated healthcare infrastructure.
- An increase in investment in the healthcare sector by major developing countries is a chief factor that will result in a rise in demand for healthcare scanner equipment globally. The high operating and maintenance cost of the scanning equipment is a major aspect that can hamper its growth.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Healthcare Scanner Market report.
Healthcare Scanner Market Share Outlook, By Geography, 2021 (%)
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Healthcare Scanner Market Segment Analysis – By Product
By product, the healthcare scanner market consists of MRI, CT, PET, X-Ray, Ultrasound, and Bone Densitometry (DEXA). The ultrasound scanner segment holds the largest share in 2021 and is set to maintain this lead over the forecast period. The growth in this segment is attributed to the increase in the use of ultrasound scanners in biomedical and cardiovascular applications in recent years owing to advancements in ultrasound transducers. The CT scanner segment is forecast to be the fastest-growing segment with a CAGR of 5.6% during the forecast period. These systems are one of the primary diagnostic tools for COVID-19 patients. X-ray scanners are one of the most widely used healthcare imaging equipment. The rising prevalence of diseases such as tumors, stroke, and spine lesions is expected to play a crucial role growth of the MRI segment. The increase in chronic diseases and the development of several novel radiotracers that help in diagnosing neurodegenerative conditions such as Alzheimer’s has led to an increase in PET scanner demand.
Healthcare Scanner Market Segment Analysis – By End User
By end-user, the healthcare scanner market is segmented into hospitals and diagnostic centers. Among them, hospitals have the largest market share and are estimated to grow with the highest CAGR of 6.1% in the forecast period. This is owing to the rising demand for advanced imaging modalities and the integration of surgical suits with imaging technologies. In developed regions, a sharp rise in demand for healthcare scanners is observed in teaching hospitals as compared to general or special hospitals. Meanwhile, an increase in the number of new hospitals in the Asia Pacific has led to a rise in demand. Healthcare service in these countries is dominated by private players who generally provide dedicated space for imaging modalities. Rising competition and increasing demand for world-class healthcare services are the factors expected to fuel the segment growth in upcoming years. The number of diagnostic centers has seen a substantial rise in developing countries and is expected to grow further in the forecast period. This rise can be attributed to a large number of small-scale clinics and hospitals in these countries without imaging modalities and thereby, imaging has to be performed in such diagnostic centers.
Healthcare Scanner Market Segment Analysis – By Geography
North America dominated the market, followed by Europe and the Asia Pacific. The North American market for healthcare scanners has a 37% share as of 2021 and is estimated to grow at a considerable CAGR during the forecast period. The presence of a large number of industry players and the high frequency of new product launches are the factors contributing to the regional market growth. In addition, service charges in developed countries are more than 1000 times higher as compared to developing countries which ensures a faster return on investment in high-priced diagnostic systems and suits. North America accounts for the highest spending on healthcare in terms of GDP with the U.S. spending nearly 18% of GDP on healthcare as of 2020, which is the highest among developed economies. Latin American market is estimated to grow at a slower rate owing to the presence of a large underpenetrated market.
Healthcare Scanner Market Drivers
Increasing Prevalence of chronic diseases is Projected to Drive Market Growth
The rapid rise in chronic diseases such as cardiovascular, respiratory, cancer, etc., increase in the global middle-class population, and accelerated growth in urbanization has led to an increase in the usage of healthcare scanners. As per surveys, 6 in every 10 U.S. citizens are affected with chronic disease. As such illnesses become more common, the need for early detection and treatment will substantially rise- leading to a growth in demand for healthcare scanning systems which is projected to drive the market.
Rising global aging population is anticipated to grow the Market
According to The United Nations (UN) data of World Population, the world’s population is expected to increase by two billion persons in the next 30 years, from 7.7 billion to 9.7 billion in 2050. Especially the aging population is projected to triple by the year 2050 which is a major concern. Advancements in medicine and decreasing global population have led to rise in the global geriatric population. This segment of the population is more susceptible to illnesses and injuries which is anticipated to increase the demand for healthcare scanners.
Healthcare Scanner Market Challenges
High cost of scanners is Anticipated to Hamper Market Growth
High costs of medical scanners are a major challenge for the industry, especially in developing countries. Hospitals in developing nations generally have lower purchasing power than their counterparts in developed countries. Moreover, the treatment cost is substantially lower than in developed nations like the US. This means the time is taken to get a return on investment in the high-priced diagnostic devices will be higher. The Covid-19 pandemic and the restrictions implemented owing to it has led the healthcare scanner manufacturers to work with a limited workforce. This has led to a delay in delivery and servicing time.
Healthcare Scanner Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Healthcare Scanner Market. Some prominent players in the global medical imaging market are:
- GE Healthcare
- Koninklijke Philips N.V
- Siemens Healthineers
- Canon Medical Systems Corporation
- Bruker, Mediso
- MILabs B.V
- MR solutions
- TriFoil Imaging
- FUJIFILM VisualSonics
- Toshiba Medical Systems Corporation
- In 2020, Varian Medical Systems- an American radiation treatment and software maker is acquired by Siemens Healthiness.
- In 2020, GE Healthcare launched the LOGIQ E10 Series of high-end radiology ultrasound systems that harness artificial intelligence (AI) technology to drive workflow productivity.
Report Code: HCR 0711
Report Code: HCR 0397
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1. Healthcare Scanners Market- Overview
1.1 Definitions and Scope
2. Healthcare Scanners Market- Executive Summary
2.1 Market Revenue and Key Trends by Company
2.2 Key trends by Product
2.3 Key trends by Department
2.4 Key trends by End-user
2.5 Key trends by Geography
3. Healthcare Scanners Market – Comparative Analysis
3.1 Product Benchmarking – Key Companies
3.2 Financial Analysis – Key Companies
3.3 Market Value Split by Key Companies
3.4 Patent Analysis – Key Companies
3.5 Pricing Analysis
4. Healthcare Scanners Market - Startup Companies Scenario Premium
4.1 Key Startup Company Analysis by
4.1.3 Venture Capital and Funding Scenario
5. Healthcare Scanners – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of Successful Ventures
6. Healthcare Scanners Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Healthcare Scanners Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Healthcare Scanners Market – By Product (Market Size –$Million/$Billion)
8.6 Bone Densitometry (DEXA)
9. Healthcare Scanners Market – By Department (Market Size –$Million/$Billion)
10. Healthcare Scanners Market – By End User (Market Size –$Million/$Billion)
10.2 Labs /Diagnostic Centers
11. Healthcare Scanners Market - By Geography (Market Size –$Million/$Billion)
11.1 North America
11.2.7 Rest of Europe
11.3 Asia Pacific
11.3.4 South Korea
11.3.5 Australia & New Zealand
11.3.6 Rest of Asia Pacific
11.4 South America
11.4.3 Rest of South America
11.5 Rest of the World
11.5.1 Middle East
12. Healthcare Scanners Market - Entropy
13. Healthcare Scanners Market – Industry/Segment Competition Landscape Premium
13.1 Market Share Analysis
13.1.1 Global Market Share – Key Companies
13.1.2 Market Share by Region – Key companies
13.1.3 Market Share by Countries – Key Companies
13.1.4 Competition Matrix
13.1.5 Best Practices for Companies
14. Healthcare Scanners Market – Key Company List by Country Premium Premium
15. Healthcare Scanners Market Company Analysis
15.1 Company 1
15.2 Company 2
15.3 Company 3
15.4 Company 4
15.5 Company 5
15.6 Company 6
15.7 Company 7
15.8 Company 8
15.9 Company 9
15.10 Company 10
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