Global Medical Imaging Equipment and Informatics Outlook and Growth Opportunities, 2024
Rising Demand for Primary Care, Increasing Investment in AI-based Image Analysis Solutions, and Rapid Adoption of Enterprise Imaging in Multiple Specialties are Driving the Medical Imaging Industry
The global medical imaging equipment and informatics industry is experiencing increasing demand for primary care, high prevalence of chronic diseases, and high footfall in screening centers, which are driving its growth. 2023 marked an increasing focus on oncology and precision imaging, indicated by the rising procurement of computed tomography (CT), mammography, and molecular imaging. In addition, the imaging informatics industry is largely driven by medical image diagnosis and visualization solutions due to the high demand for fast and accurate diagnosis. The focus on providing personalized care through precision imaging, the increasing shift to nonhospital settings, the rapid adoption of cloud infrastructure and AI by healthcare providers, and the focus on AI-based imaging algorithms for cardiology will also drive overall industry growth.
In this study, Frost & Sullivan examines the industry and provides the top 5 predictions for 2024. Given that recent international events, such as the Russo-Ukrainian War, inflation, and recession, have had a substantial impact on the industry, Frost & Sullivan picks 2021-2028 as the study period, with 2023 as the base year. The forecast period runs from 2024 to 2028, giving participants a sense of what to expect over the next 4 years. Frost & Sullivan also offers stakeholder insight into the prominent growth opportunities in this industry, including the growing procurement of AI-enabled solutions through marketplaces, the evolution of new care locations beyond hospitals, the surge in mobile and portable imaging equipment utilization, and the increasing accessibility to remote areas through teleradiology and cloud-based solutions, all of which provide excellent growth prospects for the industry.
- Analysis Highlights
- Forecast versus Actuals
- Top Predictions for 2024
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8
- The Impact of the Top 3 Strategic Imperatives on the Medical Imaging Equipment and Informatics Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
- Growth Environment
- Global Medical Imaging Equipment and Informatics Dashboard
- Medical Imaging Equipment Segmentation
- Medical Imaging Informatics Segmentation
- Growth Environment
- Macroeconomic Factors
- Top 10 Trends for 2024
- Top 10 Growth Opportunities
- Global GDP Growth-As Key Economies Lose Growth Momentum, a Mild Global Growth Slowdown from 3.0% in 2023 to 2.6% in 2024 is Anticipated
- Inflation and Interest Rates-Headline Inflation will Continue to Decline, and H2 2024 will Shift to Rate Cuts for Advanced Economies
- Currency Trajectory-Rate Cuts will Cap Upside Dollar Gains in H2, and Weak Regional Growth will Weigh on EUR and EM Currencies and Get a Boost from Q3 2024 Onward
- Labor Market-A Moderate Unemployment Uptick is Anticipated, and Positive Expectations Over Market Sentiment will Support Labor Hoarding
- Oil Markets-Q1 2024 OPEC+ Oil Production Cuts are Expected, and Brent Prices are Likely to Average $83-$85/Barrel
- Critical Minerals Supply-The Need for Economic Resilience will Bolster Cross-border and Cross-industry Partnerships within Critical Minerals Supply Chains
- North America-An Economic Slowdown is Anticipated Amidst Discretionary Spending Pullback and Elevated Interest Rates in North America
- Western Europe-A Moderate Growth Pick-up in Western Europe is Likely as Inflation Headwinds Ease Gradually, with the Rebuilding of Fiscal Buffers Expected to Take Precedence
- Middle East-Non-oil Growth Driven by Economic Diversification will Limit the Pullback Caused by a Slowdown in Global Oil Industries in the Middle East
- Asia-Emerging Economies will Drive Growth Momentum in Asia, and Fiscal Measures will Support China's Economic Recovery
- Impact Analysis: Transition from Hospital to Nonhospital Settings
- Impact Analysis: Supply Chain Diversification
- Impact Analysis: Geopolitical Tension
- Impact Analysis: Commercial Success
- Revenue Trends-2023
- Forecast Methodology and Assumptions
- Medical Imaging Equipment and Informatics Revenue Forecast
- Medical Imaging Equipment Revenue Forecast by Segment
- Medical Imaging Equipment Revenue Forecast by Region
- Table Medical Imaging Equipment: Revenue Forecast by Region, Global, 2021-2028
- Medical Imaging Informatics Revenue Forecast by Segment
- Medical Imaging Informatics Revenue Forecast by Region
- Table Medical Imaging Informatics: Revenue Forecast by Region, Global, 2021-2028
- Medical Imaging Equipment and Informatics Revenue Forecast by Segment
- Forecast Analysis
- Medical Imaging Equipment Regional Trends
- Medical Imaging Equipment Regional Trend Analysis
- Medical Imaging Informatics Regional Trends
- Medical Imaging Informatics Regional Trend Analysis
- Top 5 Predictions for 2024
- Prediction 1: Strategic Partnerships Between Outpatient Diagnostic Imaging Centers and Retail Outlets will Double in 2024 in the United States
- Prediction 2: Increasing Adoption of Multimodal Imaging will Facilitate Integrated Care and Breakdown Silos within Imaging Departments for Oncology Care
- Prediction 3: POCUS will See Higher Utilization in the Primary Care Segment in 2024
- Prediction 4: The Adoption of Enterprise Imaging Among Digital Pathology Customers in the United States and Europe will Increase
- Prediction 5: AI-as-a-service will Gain Significant Traction
- Medical Imaging Equipment Segment Outlook-2024
- Industry Snapshot
- Medical Imaging Informatics Segment Outlook-2024
- Industry Snapshot
- Medical Imaging Equipment and Informatics Companies to Watch
- Growth Opportunity Universe
- Growth Opportunity 1: Artificial Intelligence for Predictive Analytics During Equipment Maintenance
- Growth Opportunity 2: Sustainability for MRI
- Growth Opportunity 3: AI-based Image Processing and Interpretation
- Growth Opportunity 4: Enterprise Cloud-based Imaging Informatics
- Conclusions
- Conclusions and Future Outlook
- Next Steps
- Your Next Steps
- Why Frost, Why Now?
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