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Venkat Reddy
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The Rampant Growth of Digital Imaging Market Propelled by Advancements in the Healthcare Sector
The global digital imaging market was valued at $15 billion in 2018 and is anticipated to grow with a CAGR of 8.43%, during the forecast period 2019-2025.

Digital Imaging Market, 9/13/2019 - An increased per capita income of consumers - residing in metropolitan cities, and increasing consumerism in developing nations are supporting demand for advanced treatment methods and better healthcare infrastructure. Additionally, the rising number of diseased people, coupled with better health insurance policies that enable people to get access to quality healthcare services are supporting the Digital Imaging Market . The demand for digital imaging in the healthcare industry is growing rapidly due to its capability to improve patient safety and privacy. According to the India Brand Equity Foundation, the healthcare market in India is expected to reach $372 billion by 2022. Increasing awareness of the population towards better healthcare practices, change in lifestyle are the key factors governing the healthcare sector. Improved reliability, reduced requirement for physical storage space, elimination of environmental problems caused by film-based imaging, and error-free image recovery are some major factors boosting the growth of the digital imaging market globally. Advantage of technological advancements over traditional methods, rising demand for industrial automation, and increasing consumer awareness are rising safety and quality standards and boosting the demand for digital imaging. The global digital imaging market was valued at $15 billion in 2018 and is anticipated to grow with a CAGR of 8.43%, during the forecast period 2019-2025.

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Owing to recent technological developments and increased process automation, the automotive industry Digital imaging in the automotive industry is prerequisite during production, qualification, and process development phases. Infrastructural developments and construction of power plants are expected to boost the growth of digital imaging. Computed tomography (CT) and ultrasonography digital imaging techniques enhance diagnostic accuracy in medical diagnosis practices. Detailed and accurate digital imaging of lungs, brain and other parts of the body are very helpful for the healthcare professionals for better diagnosis of patients with acute illnesses.

The major players in the Digital Imaging Market:

The prominent players in the digital imaging market are Ametek, Cognex, Matrox, Olympus Corporation, OMRON, and Teledyne Technologies. These companies are continuously focusing on R&D investments, mergers and acquisitions, and partnership strategies to gain ground in the global market.

Mergers and acquisitions are key strategies adopted by the players to stay ahead of their competitors. Teledyne Technologies, a U.S. based company has announced its acquisition with scientific imaging businesses of Florida based Roper Technologies on Feb 05, 2019.

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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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