Smart Medical Imaging Solutions Market Projected to Garner Significant Revenues by 2027

Smart Medical Imaging Solutions Market: Introduction

Integrating smart technology with medical imaging devices to detect various diseases by monitoring vital signs are known as smart imaging devices. These types of medical devices can collect invaluable additional data, provide extra insight into symptoms and trends, enable remote care, and offer patients more control over their lives and treatment.
Internet-connected medical imaging devices monitor and diagnose patients in various ways. Companies are continuously investing in R&D to develop and launch new products with advanced technologies.
In 2018, Koninklijke Philips N.V. and Innovative Imaging Technologies (ITT) announced the development of their new product “tele-ultrasound” to allow clinicians to conduct two-way audio-video calls while streaming live ultrasound imaging. The tele-ultrasound system can be used by a smartphone or similar device. On a call, users have the option to speak directly with the physician by using the face camera, show the position of the ultrasound probe using the front-facing camera, or switch to a live stream of the ultrasound that both can view simultaneously.

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Key Drivers and Restraints of Global Smart Medical Imaging Solutions Market

Continuous advancement in medical technology is driving the global smart medical imaging solutions market growth. The concept of connecting and monitoring medical imaging equipment via remote servers over the Internet offers various advantages. This remote connectivity has also allowed vendors to gain tremendous efficiencies in their maintenance and support functions by moving from an after-the-fact, break-and-fix service model to a proactive, preventative service model. Medical data can also be accessed from remote area for further diagnosis or treatment of diseases.
Major factor restraining the smart medical imaging solutions market growth is high deployment cost of connected medical devices and associated infrastructure

Magnetic Resonance Imaging (MRI) Modality Segment to Witness High Demand

Based on modality, the global smart medical imaging solutions market can be segmented into ultrasound, X-ray radiography, computed tomography, fluoroscopy & C arms, Magnetic Resonance Imaging (MRI), and others
Among modalities, the Magnetic Resonance Imaging (MRI) segment held the maximum share in 2018. The high growth of this modality segment can be attributed to the growing demand for early and accurate diagnosis, high adoption of MRI systems by hospitals and diagnostic centers across the globe, and advancements in technology.
Companies are also developing new technologies and products in all modality segments. In 2018, Esaote SPA launched Smart and Fast Ultrasound Systems for making better, faster, and more reliable decisions even during difficult situations.

General Imaging Application Segment to Witness Steady Growth

Based on application, the global smart medical imaging solutions market can be divided into: cardiology, general imaging, vascular, oncology, neurology, and others
General imaging application segment will grow at a steady pace during the forecast period. In October 2019, Turner Imaging Systems received FDA 510(k) clearance for its Smart-C Mini-C Arm Portable Fluoroscopy and X-Ray Imaging Device.
Neurology segment held the maximum share of the global smart medical imaging solutions market in 2018. Rising cases of neuro diseases and advancements in diagnosis of these diseases are factors driving the neurology segment.

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Smart Medical Imaging Solutions Market in Asia Pacific to Expand Rapidly

In terms of region, the global smart medical imaging solutions market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America accounted for the largest share of the global smart medical imaging solutions market in 2018. However, this market in Asia Pacific market is estimated to grow at the highest CAGR during the forecast period primarily due to the improving health care infrastructure, rising investments in diagnostic imaging, improving reimbursement policies, and growing insurance coverage in several APAC countries.
Growth of the smart medical imaging solutions market in North America is majorly due to the rise in geriatric population and associated diseases, easy accessibility to diagnostic imaging modalities, and technological advancements

Key Manufacturers Operating in Global Market

The global smart medical imaging solutions market was highly fragmented in 2018. Key manufacturers operating in the global market are:

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