Middle East and Africa Medical Imaging Market to Grow at a CAGR of 3.5% to reach US$ 2,046.2 million Million from 2021 to 2028

Middle East and Africa Medical Imaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (CT Systems, X-ray Systems, PET Systems, MRI systems, Ultrasound Systems, and Others); End User (Hospitals, OP Centers, Clinicians Offices, and Emergency Care Centers)

Publication Month : Oct 2021

  • Report Code : TIPRE00025112
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 142
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The medical imaging market in Middle East and Africa is expected to grow from US$ 1,607.3 million in 2021 to US$ 2,046.2 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.



Medical imaging is an integral part of the diagnostic process. From ultrasounds to MRIs and CT scans, radiologists utilize medical imaging to properly diagnose and treat diseases. Also, doctors use medical imaging technologies to determine if a particular therapy has been effective in patient’s treatment method. Over the past couple of decades, the capabilities of medical imaging have radially increased. There have been numerous advancements in medical imaging technology owing to essential research and technological evolution. This progress is crucial in providing accurate diagnoses and bettering patient care. These advancements, along with the power of IT and digital technology, promotes greater procedural efficiency in the provision and execution of patient care. Artificial intelligence (AI) helps improve numerous aspects of the healthcare industry, and medical imaging technology is one of the fields that has benefited greatly. AI is being used to make advanced imaging devices, which can detect diseases earlier and guide diagnosis and early treatment.

Countries like UAE and Saudi Arabia have also registered many positive coronavirus infection cases. These regions are developing in terms of the healthcare and medical service industry. The countries in these regions are highly dependent on medical devices imported from developed countries. Therefore, countries have faced several challenges with their requirements for medical imaging systems due to severe disruption in supply chains.  Health authorities are worrying that attempting to fight the coronavirus will indirectly contribute to an increase in deaths of ill patients, including cancer patients, gynecology patients, and other causes. The death pool of ill patients in low-cost regions is expected to increase because healthcare professionals are having limited their patients checking as many clinics as possible, diagnostic centers, ambulatory surgery centers have limited resources and staff. However, there has been a spur in demand for imaging modalities such as computed tomography and ultrasound systems to manage the treatment of patients suffering with COVID-19. Countries were severely hit by the pandemic and deployed large number of chests imaging every single day. These factors thus encouraged the growth of the medical imaging market in this region.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the medical imaging market. The Middle East and Africa medical imaging market is expected to grow at a good CAGR during the forecast period.

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Middle East and Africa Medical Imaging Market Segmentation 

By Product

  • CT Systems
  • X-ray Systems
  • PET Systems
  • MRI systems
  • Ultrasound Systems
  • Others

By End User

  •  Hospitals
  • OP Centres
  • Clinicians Offices
  • Emergency Care Centres

By Country

  • Middle East and Africa

    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of Middle East and Africa

Companies Mentioned

  • General Electric Company        
  • Siemens AG      
  • Koninklijke Philips N.V.           
  • Shimadzu Corporation            
  • Hitachi, Ltd.      
  • Canon Inc.        
  • Hologic, Inc.      
  • Carestream Health Inc.           
  • Samsung Group
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

  1. General Electric Company               
  2. Siemens AG           
  3. Koninklijke Philips N.V.     
  4. Shimadzu Corporation      
  5. Hitachi, Ltd.           
  6. Canon Inc.              
  7. Hologic, Inc.          
  8. Carestream Health Inc.     
  9. Samsung Group

               

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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