3D Medical Imaging Services Market Expected to Reach $377.06 Billion by 2030

According to a new report published by Allied Market Research, titled, “3D Medical Imaging Services Market by Technique and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030", the global 3D medical imaging services market was valued at $207,134.9 million in 2020, and is projected to reach $377,062.6 million by 2030, registering a CAGR of 6.6% from 2021 to 2030.

3D medical imaging is an advanced form of imaging technology, which enhances the quality of images and enables healthcare professionals to diagnose the ailments and disorders precisely. It creates visual representations of the interior of the body by utilizing 3D imaging modalities such as a computed tomography scanner, X-ray, as well as by combining two modalities together for better results. 3D medical imaging include X-ray, radiography, computed tomography, fluoroscopy, ultrasound, and MRI devices. In addition, X-rays are used in diagnosis of pneumonia and tuberculosis.

Factors that drive the growth of the 3D medical imaging services market include rise in number of hospitals and increase in prevalence of pneumonia. According to the World Health Organization (WHO), in 2019, it was reported that pneumonia killed 740,180 children under the age of 5, accounting for 14% of all deaths of children under five years old. Furthermore, increase in R&D activities in 3D medical imaging technology contribute in the growth of the 3D medical imaging services market.

The 3D medical imaging services market is segmented on the basis of technique, application, and region.

By technique, the market is classified into ultrasound, X-ray, MRI, and others. The MRI segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in MRI technology and in medical imaging.

Depending on application, the market is segregated into oncology, cardiology, orthopedic, and others. The oncology segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to rise in prevalence of cancer and increase in demand for early diagnosis.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the 3D medical imaging services market as most hospitals are not operating due to COVID-19 along with the ongoing lockdowns in many countries. The spread of COVID-19 led to a major public health issue. However, a huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity to provide better healthcare facility.  In the middle of COVID-19 pandemic, the elective imaging services and ambulatory imaging dropped for a while. Moreover, several policies are updated in radiology department and hospitals regarding technologist, PPE availability, and COVID-19 testing.

Key Findings Of Study

• On the basis of technique, the MRI segment was the highest contributor to the market in 2020.
• By application, the oncology segment was the highest contributor to the market in 2020
• Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

North America accounted for a majority of the global 3D medical imaging services market share in 2020 and is anticipated to remain dominant during the forecast period due to rise in prevalence of chronic diseases, presence of key players for development of 3D medical imaging services, and well-established healthcare infrastructure. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in the number of hospitals, surge in demand for early diagnosis, rise in prevalence of cancer, cardiac disease, and increase in number of geriatric population.