United States Medical Imaging Monitor Market Set to Grow at a CAGR of 8.4%

Published | 19 September 2022

United States medical or diagnostic imaging monitor market is flourishing owing to increasing incidences of chronic illnesses, growing number of elderly people, and technology advancements helping in the development of various diagnostic imaging tools and monitors to be used in various medical processes…

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, forecasts United States Medical Imaging Monitor Market to expand at a significant CAGR of 8.4% between 2022 and 2028. Prominent factors including the rapidly aging population in the United States; increasing incidences of chronic illnesses, such as cancer and cardiovascular events; and technology advancements to develop various diagnostic imaging tools and monitors to be used in a variety of medical processes are expected to aid the robust growth of medical imaging monitor market in the United States during the forecast period (2022–2028).

United States Medical Imaging Monitor Market - Overview

Medical imaging also known as diagnostic imaging refers to the technique of generating visual representations of the internal body to diagnose a patient. Lower amounts of electromagnetic radiation help to produce highly detailed images of the inside body. The detailed images created by these processes are used to further treatment of the patient and help to analyze physician about the anatomic structure and functional working of the internal organs. Medical imaging is used in the field of medicine to recognize a range of medical problems, such as damaged bones, heart conditions, blood clots, and intestinal conditions. Additionally, diagnostic radiology can also monitor diseases such as colon cancer and breast cancer.

 

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United States Medical Imaging Monitor Market – Industry Trends and Forecast

Growth Factors

Technology Improvements in Imaging Systems

Innovative technologies and increasing investments in R&D activities are boosting the growth of the United States Medical Imaging Monitor Market. The most recent technologies in the medical imaging field include 3-D viewing, medical cooperation, easy Picture Archiving and Communication System (PACS) connectivity, Big Data, and the IoT, which enable easy access to radiology reports and referral studies. For instance, using an automated IoT-enabled sensor, the smart lighting system for radiology can change the brightness of the reading room light according to World Health Organization (WHO) norms, tailoring settings for specific modalities and priorities of each healthcare provider. Diagnostic accuracy is also improving with 3-D mammography and 3-D Ultrasonic Holography, which is projected to boost market growth.

Adoption of 4K and AI-Integrated Medical Imaging Technologies

The adoption of Artificial Intelligence (AI) technologies and 4K is rapidly increasing in the United States healthcare industry and the AI has penetrated the medical imaging technologies as well. The high adoption of AI-integrated technologies especially in the developed countries, such as United States, is one of the major factors for the growth of the medical imaging monitor market in the country. The AI-integrated technologies offer early and high efficiency in the diagnosis of various conditions which helps in providing the treatment in the early stages. As a result, AI and 4K are increasingly being adopted for display units or monitors of medical imaging systems.

United States Medical Imaging Monitor Market Forecast and Trends

United States Medical Imaging Monitor Market is forecast to grow at a significant rate in the coming years. Rising incidences of chronic illnesses, such as cancer and cardiovascular diseases, growing geriatric population, and improvements in technologies to develop numerous diagnostic imaging tools and monitors to be used in various medical processes are significant factors that are projected to boost the market growth over the forecast period (2022–2028).

Restraints

High Cost of Medical Imaging Systems

Medical or diagnostic imaging monitors and systems are highly expensive. Innovative technologies that add additional costs are anticipated to hinder the growth of United States Medical Imaging Monitor Market.

United States Medical Imaging Monitor Market - By Application

Based on application, United States Medical Imaging Monitor Market is segmented into Radiography, Mammography, Digital Pathology, Multi-Modality, Surgical, and Others. Among the applications, the radiography segment is expected to maintain its leadership position in United States Medical Imaging Monitor Market during the projected period between 2022 and 2028.

Impact of COVID-19 on United States Medical Imaging Monitor Market

United States Medical Imaging Monitor Market witnessed a sudden slump during the COVID-19 pandemic and resultant lockdowns across the country. The demand for imaging equipment dropped significantly as the hospital visits for diagnosing and checking chronic diseases declined due to lockdown restrictions. Furthermore, hospitals’ resources and healthcare experts were completely focusing to the care of COVID-19-infected patients. However, in the post COVID-19 pandemic era, the medical imaging industry is expected to grow as regular medical examinations and disease diagnosis have resumed. The prevalence of numerous medical disorders is considered to have increased during the pandemic and lockdown as a result of the sedentary lifestyle. As a result, people are resuming availing medical diagnostic services and solutions. This, in turn, is expected to fuel the growth of United States Medical Imaging Monitor Market during the forecast period.

 

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Competitive Landscape

United States Medical Imaging Monitor Market has players ranging from large multinational corporations and startups. The market witnesses high competition. Key players in the market include HP Development Company LP, Quest International, Stryker Corporation, Double Black Imaging, STERIS plc, UTI Technology, NDS Surgical Imaging LLC - A Novanta Company, Canvys, Advantech Co Ltd, Barco, and Eizo Corporation. These companies execute various strategic measures, such as mergers and acquisitions, partnerships, and new product launches, to broaden their customer base, expand their reach across the United States, and maintain their competitive edge over their rivals in the country’s medical imaging monitor market.

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