US 3D Imaging Market Analysis

US 3D Imaging Market Analysis


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The US 3D imaging market is projected to grow from $12.76 Bn in 2022 to $37.69 Bn by 2030, registering a CAGR of 14.5% during the forecast period of 2022-30. The market will be driven by the growing need for less invasive procedures & increased incidence of chronic conditions that require precise diagnostics. The market is segmented by product, application, end-user & portability. Some of the major players include GE Healthcare, Siemens Healthineers & Canon Medical Systems Corporation.

ID: IN10USDH001 CATEGORY: Digital Health GEOGRAPHY: US AUTHOR: Vidhi Upadhyay

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US 3D Imaging Market Executive Summary

The US 3D Imaging market is projected to grow from $12.76 Bn in 2022 to $37.69 Bn by 2030, registering a CAGR of 14.5% during the forecast period of 2022-30. The United States is the world's largest economy. In 2021, healthcare spending in the United States is projected to increase by 2.7% to $12,914 per person. Healthcare expenditure accounted for 18.3% of the nation's Gross Domestic Product. Healthcare spending in the US has been growing at a faster rate than the overall economy for many years. Cancer was the second biggest cause of mortality in the United States in 2020, trailing heart disease. The estimated number of deaths in the US from all cancers is expected to rise from 612k in 2020 to 758k in 2030.

3D imaging is a novel optical imaging technique that uses technology to produce a three-dimensional representation of the internal structures of a patient's body which is helpful in a variety of medical specialties, including cardiology, neurology, oncology, gynecology, and orthopedics. It offers accurate anatomical information and can aid in the diagnosis and monitoring of a number of medical issues. 3D imaging commonly includes Computed Tomography (CT) scans, Magnetic Resonance Imaging (MRI) scans, X-ray Imaging Systems,3D ultrasound & Nuclear Imaging systems.

In the United States, 3D imaging is widely employed in the health sector. There are several medical imaging institutes that offer 3D imaging services utilizing multiple technologies such as CT scans, MRI scans, and 3D ultrasounds. Furthermore, many hospitals and clinics have invested in innovative 3D imaging technology and software to deliver high-quality diagnostic services to their patients.

US 3D imaging market analysis

Market Dynamics

Market Growth Drivers

The growing need for less invasive procedures is a primary driver of the industry. Furthermore, the increased incidence of chronic conditions such as cancer, cardiovascular disease, and diabetes is propelling the market. These conditions need precise and thorough imaging for effective diagnosis and treatment, increasing the demand for 3D imaging. Technological advancements have also played an important part in the expansion of the 3D imaging market. Additionally, high healthcare expenditure in the US, the high-income spending population of the US, increased funding for research and innovation of novel imaging techniques, as well as government measures to promote the usage of modern medical imaging technologies aid market expansion in the US.

Market Restraints

The high cost of 3D Imaging equipment is a key market barrier since it prevents hospitals and clinics with restricted budgets from adopting these technologies. Furthermore, there is a lack of skilled experts to operate 3D imaging technology, which limits the market growth. Regulatory impediments and complex approval processes for new imaging equipment can also be a constraint since they lengthen and raise the cost of bringing new technologies to market. Concerns about radiation exposure during imaging operations, as well as the restricted availability of 3D imaging equipment in rural and impoverished areas, are additional market limitations.

Competitive Landscape

Key Players

  • GE Healthcare
  • Siemens Healthineers
  • Canon Medical Systems Corporation
  • Koninklijke Philips N.V.
  • Hologic, Inc
  • Fujifilm Medical Systems
  • Shimadzu Medical Systems

Notable Deals

  1. In March 2022, Canon Medical Systems Corporation announced the acquisition of Nordisk Rntgen Teknik with innovative technology for the manufacture and production of diagnostic X-Ray systems
  2. March 2022, Siemens Healthineers introduced its solutions in MRI and CT portfolio- MAGNETOM Free. Star and NAEOTOM Alpha®
  3. In June 2021, Canon Medical announced significant upgrades to its Aplio i-series and Aplio a-series ultrasound product lines

Healthcare Policies and Regulatory Landscape

In the United States, the 3D imaging sector is overseen by many government authorities, including the Food and Drug Administration (FDA) and the Centers for Medicare & Medicaid Services (CMS). The FDA is in charge of medical device approval and regulation, including 3D imaging equipment.

The 3D imaging sector is also overseen by the Health Insurance Portability and Accountability Act (HIPAA), which establishes criteria for the security and privacy of patient health data. Companies operating in the industry must follow these standards to safeguard patient confidentiality and security.

Reimbursement Scenario

In the United States, the reimbursement landscape for digital healthcare can be complicated and differs depending on the type of service or technology. The reimbursement for 3D Imaging operations is generally supplied by government programs such as Medicare and Medicaid, as well as commercial insurance companies.

The CMS establishes medical treatment and medical device coverage and payment regulations, including 3D imaging services. The CMS sets the reimbursement rates for these operations using the DRG system and the Resource-Based Relative Value Scale (RBRVS). Other factors that impact reimbursement for 3D Imaging operations include local and state legislation, competitive dynamics, and the availability of alternatives.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

US 3D Imaging Market Segmentation

By Product (Revenue, USD Billion):

The 3D Imaging Market is divided majorly into X-ray Imaging Systems, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound & Nuclear Imaging Systems. X-ray Imaging systems have the highest market share in the 3D Imaging market. 3D X- rays are mostly utilized for dental and orthopedic applications. 3D Ultrasound is majorly helpful in tracking the dynamic motion of arteries, and veins and also has applications for various fetal, cardiac, obstetric, and rectal examinations, and many more. The ultrasound segment is predicted to develop substantially over the forecast period, primarily to the advancements in technology in the healthcare industry and the several advantages given by 3D ultrasound imaging over standard ultrasound imaging.

  • X-ray Imaging Systems
  • Computed Tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Ultrasound
  • Nuclear Imaging systems

By Application (Revenue, USD Billion):

The market for 3D Imaging has applications covering Cardiology, Neurology, Orthopaedics, Gynaecology, Oncology, and other areas of diagnostics as well. Cardiovascular diseases are the leading cause of death globally. The second biggest cause is cancers because of which Oncology holds the highest market share in the 3D Imaging market followed by cardiology as 3D imaging is highly utilized in these two segments for diagnostics and treatments of the same. Neurosurgeons desire three-dimensional (3D) imagery of intracranial tumors, neural structures, skulls, and veins to establish a clear visual image of the surgical field's anatomical orientation prior to surgical intervention aiding better surgical outcomes for patients. Obstetricians employ 3D ultrasound scans to see the gestational sac, pinpoint the location of an ectopic pregnancy, and evaluate for fetal deformities of the face, spine, limbs, and heart. 3D Imaging applications for gynecology are yet in evolving stage and have a great scope for expansion allowing feasible and quick patient care.

  • Cardiology
  • Neurology
  • Orthopedics
  • Gynecology
  • Oncology
  • Others (Urology, etc.)

By End User (Revenue, USD Billion):

Hospitals, Diagnostic Imaging Centers, and other end-user such as private clinics make up the segments of the 3D Imaging Market. The hospitals among these hold the biggest market share due to the increased uptake of cutting-edge medical technology, the expansion of existing 3D Imaging facilities, the rising affordability of 3D Imaging services, the rising prevalence of chronic conditions such as cardiovascular diseases, cancers, respiratory diseases which lead to rising in demand for precise and quick diagnostic and treatment options. Diagnostic Imaging Centers have also been deploying 3D Imaging equipment to improve their standard of care.

  • Hospitals
  • Diagnostic Imaging Centers
  • Other End Users

By Portability (Revenue, USD Billion):

The 3D Imaging market is divided into two segments Stationary & Mobile, considering the portability of the device. Stationary 3D imaging involves equipment that is installed at a particular location and is operated from the same location of installment whereas mobile ones can be relatively smaller in size and hence moved to the patients who are unable to locate the Imaging room. Mobile MRI, Ultrasound, X–ray & CT allow cutting-edge healthcare to be delivered to nearly any location and are yet in the developing stages of expansion.

  • Stationary
  • Mobile

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

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The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 26 October 2023
Updated by: Jay Dalwadi

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