Healthcare Scanners Market Overview
Global Healthcare Scanners Market size is poised to reach $63.7 billion by 2027, growing at a CAGR of 5.4% during the forecast period 2022-2027. Healthcare Scanners are used in medical facilities for providing detailed visual images of internal body parts to aid medical professionals in medical diagnostics and medical intervention. Some of the most commonly used imaging systems include x-ray scanners, Computerized Tomography (CT) scanners, Magnetic Resonance Imaging (MRI) scanners, and Positron Emission Tomography (PET) scanners. Rapid rise in the prevalence of chronic diseases such as cancer, cardiovascular disorders (CVD), and respiratory illnesses, and growing disposable income among the population in developing regions are some of the key factors driving the growth of the Healthcare Scanners industry during the forecast period 2022-2027.
Scanners Market Report Coverage
The report: “Healthcare
Scanners Market Forecast (2022-2027)”, by
Industry ARC, covers an in-depth analysis of the following segments of the Healthcare
By Product Type: MRI, CT, PET, X-Ray,
Ultrasound, Bone Densitometry and Others.
By Department: Cardiology, Neurology, Oncology, Gynecology, ENT, Orthopedics, and Others.
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, Chile, Columbia and Rest of South America), and Rest of the World (Middle East, and Africa)
- North America dominated the healthcare scanners market in the year 2021. The presence of a highly developed healthcare infrastructure and favorable reimbursement policies in the U.S. and Canada are some of the key factors contributing to the growth of the segment.
- Rising government initiatives to enhance healthcare infrastructure and medical diagnostic capabilities in developing regions are anticipated to drive the market during the forecast period.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the healthcare scanners Market report.
- However, the extremely high cost of medical imaging systems is a major factor that is projected to hamper the market growth of the healthcare scanners Industry.
Healthcare Scanners Market Revenue Share, By Geography, 2021 (%)
For More Details on This Report - Request for Sample
Healthcare Scanners Market Segment Analysis – By Product Type
Based on Product Type, the healthcare
can be segmented into MRI, CT, PET, X-Ray, Ultrasound, Bone Densitometry, and
Others. The Ultrasound segment accounted for the largest share of the market in
2021 and is poised to grow at a CAGR of 6.8% during the forecast period 2022-2027.
The rapid growth can be attributed to the emergence and adoption of new
ultrasound imaging techniques such as Doppler ultrasound in vascular imaging
and 3D and 4D ultrasound in oncology. Besides, the lower cost of ultrasound
scanners is also a significant factor that enhances the growth of the segment.
The CT segment is also anticipated to witness the fastest growth in terms of CAGR during
the forecast period 2022-2027 owing to the massive rise in the prevalence of
respiratory illnesses after the COVID-19 pandemic. Chest
CT scans are commonly used for monitoring the health of the respiratory systems
during and after COVID-19 infection in individuals.
Healthcare Scanners Market Segment Analysis – By End User
Based on End User, the Healthcare Scanners market can be further
segmented into Hospitals Labs and Diagnostic
Centers. The Hospitals and Labs segment accounted for the largest share of
the healthcare scanners market in 2021 and is projected to grow at a CAGR of 7.4% during the forecast period 2022-2027. This can be attributed to the growing
demand for advanced imaging modalities in such facilities owing to the rapid
rise in the number of patients suffering from numerous chronic illnesses. With
the adoption of such imaging systems, hospitals are able to provide diagnosis,
treatment, and post-treatment care to patients in a single location, thereby
increasing convenience for the patients. However, the Diagnostic Centers segment
is anticipated to witness the fastest growth during the forecast period
2022-2027 owing to the rapid rise in the number of diagnostic test centers in
developing regions. This growth can be attributed to the lack of adequate
infrastructure for healthcare scanners in hospitals in such regions owing to
factors such as lack of space and low purchasing capacity.
Healthcare Scanners Market Segment Analysis – By Geography
North America dominated the
geography segment of the Healthcare Scanners Market in 2021 with a share of approximately 34%. The
rapid growth of the segment can be attributed to the presence of a highly
developed healthcare sector in the U.S. and Canada. In addition, the high penetration
of health insurance coverage also plays a key role in the growth of the segment
as patients with health insurance only have to pay a fraction of the actual
cost of diagnostic imaging procedures. For instance, according to the
Congressional Research Service, approximately 298 million people, or 91.4% of
the US population had health insurance coverage in 2020.
The Asia Pacific region is anticipated to register the fastest growth during the forecast period 2022-2027 owing to the growth in healthcare infrastructure development projects in emerging economies such as China and India.
Healthcare Scanners Market Drivers
Growing global geriatric population is driving the market growth
Rapid rise in the global geriatric population is a key factor driving the market for healthcare scanners. Geriatrics are more susceptible to conditions such as cardiovascular diseases, Chronic Obstructive Pulmonary Disease (COPD), and osteoarthritis. Healthcare scanners are extensively used for the diagnosis of such conditions. According to the U.S. Census Bureau, more than 54 million adults aged 65 and older lived in the United States in 2021. Besides, by 2050, the total number of adults ages 65 and older is projected to rise to an estimated 85.7 million — roughly 20% of the overall U.S. population.
Rapid rise in the prevalence of chronic diseases is poised to increase the growth of the market
The growing prevalence of chronic conditions such as cardiovascular disorders, cancers,
COPD, and arthritis is projected to drive the market for healthcare scanners
during the forecast period as medical imaging systems play a crucial role in
diagnosing such conditions. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause
of death globally, taking an estimated 17.9 million lives each year.
Meanwhile, according to the Global Initiative for Chronic Obstructive Lung
Disease (GOLD), COPD was the 3rd leading cause of death in 2020.
Healthcare Scanners Market Challenges
High cost of healthcare scanners is likely to challenge the market growth
The high cost of medical imaging systems is a major factor that is challenging
product adoption among end users during the forecast period. For instance, the
cost for a single, state-of-the-art, high-powered MRI machine can reach between
$1 million and $3 million. Meanwhile, the cost for a single PET scanning
machine can reach between $1.7 million and $2.5 million. Such high costs make
these machines unaffordable to small-scale healthcare facilities located in
developing regions, thereby challenging market growth.
Healthcare Scanners Industry Outlook
Product launches, mergers and
acquisitions, joint ventures, and R&D activities are key strategies adopted
by players in the Healthcare Scanners Market.
In 2021, the Healthcare Scanners Market share is fragmented by the top ten players present in the
market. The Healthcare Scanners Market,
top 10 companies are:
- GE Healthcare
- Koninklijke Philips N.V
- Siemens Healthineers
- Canon Medical Systems Corporation
- MILabs B.V
- MR solutions
- TriFoil Imaging
- FUJIFILM VisualSonics
- Toshiba Medical Systems Corporation
- In January 2022, Positron Corporation announced that the Company has entered into a strategic business relationship with Neusoft Medical Systems for manufacturing, distribution, and continued R&D advancements of Positron’s new PET/CT nuclear imaging device. Positron, in collaboration with Neusoft, will submit a new device 510K application with the FDA for the certification of Positron’s PET/CT nuclear imaging system.
- In December 2021, FUJIFILM Healthcare Americas Corporation unveiled the Velocity MRI System, its advanced, high-field open MRI system during the 2021 Radiological Society of North America (RSNA). The Velocity MRI system is Fujifilm’s newest MRI scanner, designed to streamline workflow and enhance the patient experience with its unique open gantry, integrated radiofrequency (RF) coils and reconstruction technologies.
- In May 2021, Siemens Healthineers announced the launch of Somatom X.ceed, a new high-resolution, high-speed CT scanner engineered specifically for the most challenging clinical areas where time and precision are of the essence. With its large bore of 82 centimetres and its user-friendly tablet operation, Somatom X.ceed is designed from the ground up to enhance user and patient experience.
Report Code: HCR
Report Code: HCR
Report Code: HCR 0332
For more Lifesciences and Healthcare Market reports, please click here