Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 54.20 Billion |
| Market Size (2029) | USD 67.21 Billion |
| CAGR (2024 - 2029) | 4.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market Analysis
The Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market size is estimated at USD 54.20 billion in 2024, and is expected to reach USD 67.21 billion by 2029, growing at a CAGR of 4.40% during the forecast period (2024-2029).
The market for non-invasive and minimally invasive medical imaging and visualization systems is robust and dynamic, driven by technological advancements, increasing healthcare expenditures, and growing demand for less invasive imaging methods. Technological advancements in imaging improve imaging resolution, speed, and accuracy, making procedures safer and more effective. In addition, the market presents substantial growth opportunities globally, particularly in emerging areas where healthcare infrastructure is expanding.
The growing burden of chronic diseases such as heart, musculoskeletal, and other diseases, coupled with the aging population, is expected to increase the need for non-invasive and minimally invasive medical imaging for diagnosis. For instance, according to the data published by the Australian Institute of Health and Welfare in June 2024, cardiovascular diseases represented nearly 12% of the overall disease burden in Australia, with males at 14% and females at 10% in 2023. It stood as the fourth most prevalent disease group, trailing behind cancer, mental and substance use disorders, and musculoskeletal conditions. This showed the significantly high burden of heart disease, which is expected to impact the market’s growth significantly.
Technological advancements in imaging devices increase the image resolution and accuracy of diagnosis, raising the demand for non-invasive and minimally invasive medical imaging devices. For instance, in November 2023, GE HealthCare highlighted more than 40 innovations, including several critical AI-enabled technologies within imaging, including magnetic resonance imaging (MRI), ultrasound, and digital space in the United States. These innovations were designed to support clinicians better, improve patient care, and increase health system efficiency.
The rising prevalence of chronic diseases requiring imaging diagnostics, coupled with technological advancements, is poised to propel market growth during the forecast period. However, the high cost of imaging devices reimbursement issues and lack of skilled workforce are expected to hinder market growth over the forecast period.
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market Trends
The Ultrasound Segment is Expected to Hold a Significant Share Over the Forecast Period
Ultrasound imaging, also known as sonography, is a widely used medical imaging technique that utilizes high-frequency sound waves to produce real-time images of the inside of the body. The ultrasound segment is experiencing significant growth, which can be attributed to factors such as advancements in ultrasound technology and diagnostic capabilities for various disease conditions. The growing portability and versatility of modern ultrasound machines enable their deployment across various settings, such as hospitals and clinics. This is expected to boost the growth of the segment during the forecast period.
Ultrasound aids physicians in detecting tumors in body regions. Hence, the increasing burden of cancer cases globally will likely raise the demand for ultrasound imaging, which is expected to promote the segment's growth over the forecast period. For instance, as per the data published by the International Agency for Research on Cancer (IARC) in February 2024, the number of new cancer cases was estimated to be 20 million in 2022, which is expected to rise to 21.3 million by 2025 globally. The rising incidence of cancer cases drives the demand for ultrasound imaging, which is expected to boost the growth of the segment during the forecast period.
New product launches will increase the availability of imaging devices, propelling the segment's growth. For instance, in November 2023, Siemens Healthineers unveiled the Acuson Maple, an affordable and versatile ultrasound system designed to deliver swift and accurate diagnoses across various clinical environments. Similarly, in September 2023, Exo, one of the key medical imaging software and device companies, launched Exo Iris. This groundbreaking handheld ultrasound device delivers versatile imaging performance for point-of-care ultrasound (POCUS). Such product launches increase the widespread availability of ultrasound devices and are expected to boost the segment’s growth over the forecast period.
Therefore, as per the above-mentioned factors, such as the increasing burden of cancers and new product launches, the segment is anticipated to grow significantly over the forecast period.
North America is Expected to Record Significant Growth Over the Forecast Period
The North American market for non-invasive & minimally invasive medical imaging and visualization systems is poised for continued growth, driven by technological advancements, demographic trends, healthcare infrastructure, and a supportive regulatory environment for device approval. In addition, the rise in chronic diseases like cardiovascular disorders, cancer, and neurological conditions prompts higher demand for advanced imaging technologies for early detection and monitoring, which is expected to boost the market’s growth over the forecast period.
Rising cancer rates in the United States increase the demand for diagnostic imaging. For instance, according to data from the National Cancer Institute, as of May 2024, there were around 2.0 million new cancer cases, up from 1.95 million in 2023. Similarly, according to the Canadian Cancer Statistics 2023, over two in five Canadians will likely develop cancer in their lifetime. This uptrend underscores the mounting cancer burden, poised to propel market expansion through the forecast period.
Furthermore, new product launches in the region are expected to promote market growth due to the widespread demand for the devices. For instance, in November 2023, Siemens Healthineers secured FDA clearance for its Biograph Vision. X, a PET/CT scanner boasting an industry-leading time of flight (TOF) of 178 picoseconds (ps). The Biograph Vision. X represented a significant leap forward, enhancing the already impressive capabilities of its predecessor, the Biograph Vision. Therefore, the growing burden of various diseases and new product launches are anticipated to propel the market’s growth in North America over the forecast period.
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Industry Overview
The non-invasive & minimally invasive medical imaging device and visualization systems market is semi-consolidated and dominated by major global players in the market. The market is anticipated to be driven by new and advanced technological innovations by various companies. This includes the integration of AI and augmented reality (AR) into imaging devices like computed tomography imaging and magnetic resonance imaging. Some of the prominent market players include Boston Scientific, GE Healthcare, Siemens Healthineers, Koninklijke Philips NV, Medtronic PLC, Smith and Nephew, Advanced Brain Monitoring, Fujifilm Holdings Corporation, CAS Medical Systems Inc., and Canon Medical Systems Corporation.
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market Leaders
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Boston Scientific
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GE Healthcare
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Siemens Healthineers
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Medtronic
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Smith & Nephew
*Disclaimer: Major Players sorted in no particular order
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market News
- February 2024: Siemens Healthineers launched its Magnetom Flow, 1.5 tesla (T) platform in Vienna for MRI with a closed helium circuit and no quench pipe. Magnetom Flow is the second virtually helium-free MRI platform from Siemens Healthineers with Dry Cool technology.
- January 2024: Canon Medical Systems Corporation and Olympus Corporation agreed to collaborate on endoscopic ultrasound systems globally. Canon Medical announced plans to develop and manufacture diagnostic ultrasound systems used in endoscopic ultrasonography (EUS), and Olympus is expected to perform the sales and marketing efforts.
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Continuous Innovations in Imaging Technologies
4.2.2 Rising Prevalence of Chronic Diseases Coupled with Aging Population
4.2.3 Growing Preference Among Patients for Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 High Cost of Imaging Devices and Reimbursement Issues
4.3.2 Lack of Skilled Workforce
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Type
5.1.1 Non-Invasive Imaging
5.1.1.1 X-ray Imaging
5.1.1.2 Ultrasound Imaging
5.1.1.3 Magnetic Resonance Imaging (MRI)
5.1.1.4 Computed Tomography Imaging
5.1.1.5 Others
5.1.2 Minimally Invasive Imaging
5.1.2.1 Endoscopy
5.1.2.2 Laparoscopy
5.1.2.3 Others
5.2 By Portability
5.2.1 Fixed Devices
5.2.2 Portable Devices
5.3 By Applications
5.3.1 Orthopedics
5.3.2 Cardiology
5.3.3 Oncology
5.3.4 Other Applications
5.4 By End User
5.4.1 Hospitals and Clinics
5.4.2 Diagnostic Centers
5.4.3 Other End User
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Spain
5.5.2.6 Rest of Europe
5.5.3 Asia Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 South Korea
5.5.3.6 Rest of Asia-Pacific
5.5.4 Middle East and Africa
5.5.4.1 GCC
5.5.4.2 South Africa
5.5.4.3 Rest of Middle East and Africa
5.5.5 South America
5.5.5.1 Brazil
5.5.5.2 Argentina
5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Advanced Brain Monitoring
6.1.3 Boston Scientific Corporation
6.1.4 Canon Medical Systems Corporation
6.1.5 CAS Medical Systems, Inc.
6.1.6 CNSystems Medizintechnik GmbH
6.1.7 Fujifilm Holdings Corporation
6.1.8 GE Healthcare
6.1.9 Koninklijke Philips N. V.
6.1.10 Medtronic plc
6.1.11 Siemens Healthineers AG
6.1.12 Smith & Nephew plc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Industry Segmentation
Non-invasive and minimally invasive medical imaging and visualization systems are essential tools in modern medicine for diagnosing, monitoring, and managing diseases with minimal disruption to the patient. These systems allow clinicians to view internal body structures and functions without making any incisions or physically entering the body.
The non-invasive & minimally invasive medical imaging and visualization systems market is segmented by type, portability, applications, and end user. The market is segmented by type into non-invasive and minimally invasive imaging. The non-invasive imaging includes X-ray imaging, ultrasound imaging, magnetic resonance imaging (MRI), computed tomography imaging, and others. Minimally invasive imaging includes endoscopy, laparoscopy, and others. By portability, the market is bifurcated into fixed and portable. By applications, the market is segmented into orthopedics, cardiology, oncology, and other applications. The market is again segmented by end user into hospitals and clinics, diagnostic centers, and other end users. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also provides estimated market sizes and trends for 17 different countries across the five major regions globally. The report offers the value (USD) for all the above segments.
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Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market Research FAQs
How big is the Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market?
The Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market size is expected to reach USD 54.20 billion in 2024 and grow at a CAGR of 4.40% to reach USD 67.21 billion by 2029.
What is the current Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market size?
In 2024, the Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market size is expected to reach USD 54.20 billion.
Who are the key players in Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market?
Boston Scientific, GE Healthcare, Siemens Healthineers, Medtronic and Smith & Nephew are the major companies operating in the Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market.
Which is the fastest growing region in Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market?
In 2024, the North America accounts for the largest market share in Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market.
What years does this Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market cover, and what was the market size in 2023?
In 2023, the Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market size was estimated at USD 51.82 billion. The report covers the Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems Industry Report
Statistics for the 2024 Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Non-Invasive & Minimally Invasive Medical Imaging And Visualization Systems analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
