Rise in prevalence of cardiac diseases, surge in R&D activities in 3D imaging technology, increase in number of 3D medical imaging devices drive the growth of the global 3D medical imaging services market.
PORTLAND, Ore., March 9, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "3D Medical Imaging Services Market by Technique (Ultrasound, X-ray, MRI, and Others), and Application (Oncology, Cardiology, Orthopedic, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global 3D medical imaging services industry generated $207.13 billion in 2020, and is estimated to reach $377.06 billion by 2030, witnessing a CAGR of 6.6% from 2021 to 2030.
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Drivers, Restraints, and Opportunities
Rise in prevalence of cardiac diseases, surge in R&D activities in 3D imaging technology, increase in number of 3D medical imaging devices drive the growth of the global 3D medical imaging services market. However, high cost of 3D medical imaging technology and unfavorable reimbursement regulations hinder the market growth. On the other hand, rise in number of approval for products and surge in number of key players that develop innovative technologies create new opportunities in the coming years.
Covid-19 Scenario
- Most of the hospitals did not offer 3D medical imaging services during the Covid-19 pandemic as hospital resources were shifted to take care of patients infected with Covid-19. However, these services were provided only in case of emergency.
- Many clinics were also closed down due to lockdown measures and to reduce possibility of cross-contamination. This reduced the overall market revenue for 3D medical imaging services.
The MRI segment to maintain its lead position during the forecast period
Based on technique, the MRI segment accounted for the highest market share in 2020, contributing to nearly two-fifths of the global 3D medical imaging services market, and is expected to maintain its lead position during the forecast period. This is due to advancements in MRI technology. However, the ultrasound segment is projected to witness the largest CAGR of 7.9% from 2021 to 2030, owing to advancements in technology in the medical healthcare sector and advantages offered by 3D ultrasound imaging as compared to traditional ultrasound imaging.
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The oncology segment to maintain its leadership status throughout the forecast period
Based on application, the oncology segment held the highest market share in 2020, accounting for nearly two-fifths of the global 3D medical imaging services market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to demand for early diagnosis and surge in prevalence of cancer. However, the cardiology segment is expected to manifest the highest CAGR of 7.1% from 2021 to 2030, owing to increase in cardiovascular diseases and rise in number of hospitals.
North America to maintain its dominance in terms of revenue by 2030
Based on region, North America contributed to the highest market share in 2020, accounting for more than one-third of the global 3D medical imaging services market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to increase in prevalence of chronic diseases, presence of key players for development of innovative 3D medical imaging services, and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to portray the fastest CAGR of 7.6% during the forecast period, owing to increase in number of hospitals, surge in demand for early diagnosis, and rise in prevalence of cancer & cardiac disease.
Leading Market Players
- Accurate imaging Inc.
- Atlantic Medical Imaging Inc.
- Cobalt Health
- Digirad Corporation
- Del Medical Systems Group, Inc.
- Front Range Mobile Imaging Inc.
- Inhealth Group Ltd.
- RadNet Inc.
- Teleradiology Solutions
- Trident USA Health Services
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