Global 3D Imaging Market: Continuous Development in Healthcare Sector and Emergence of Asia Pacific Market to Propel Growth

Global 3D Imaging Market: Continuous Development in Healthcare Sector and Emergence of Asia Pacific Market to Propel Growth

With applications across fields such as design, healthcare, entertainment, defense, manufacturing, construction, and a continuously rising set of areas, 3D imaging technologies have been the subjects of extensive research in the past many years. Rapid progress in digital capture, record, and display technologies have led to the development of easy-to-use and 3D imaging solutions continue to revolutionize many industries and operations. In the next few years, 3D imaging solutions will have a major impact on all major industrial segments, from manufacturing to entertainment.

Transparency Market Research states that the global 3D imaging market will expand at an excellent 26.8% CAGR between 2015 and 2021. The market, which was pegged at of US$3.51 bn in 2014, will rise to US$17.99 bn by 2021 at this pace.

Applications in Healthcare Sector to be Prominent Revenue Generator

The use of 3D imaging techniques and solutions has played a prominent role in the overall development of the medical imaging industry over the past few years. The healthcare industry is presently the leading revenue generator for the global 3D imaging market and is expected to maintain its dominant stance in the global market in future years as well.

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Rising prevalence of chronic ailments such as a number of cancers and cardiovascular conditions globally has led to a steep rise in the number of medical diagnostic tests undertaken as well as complex surgeries every year across the globe. In the near future as well, the numbers are expected to witness substantial rise, acting as a major propeller for the global 3D imaging market. The applications of 3D imaging in medical specialty sectors such as obstetrics, gynecology, and dentistry have also significantly increased in the past few years and are expected to drive the market further.

Applications of 3D imaging in the healthcare industry allowed the global 3D imaging market acquire revenues worth US$0.83 bn in 2014. 3D imaging in the healthcare sector is expected to expand at a favorable 26.8% CAGR over the period between 2015 and 2021.

North America to Continue Being Most Influential Regional Market

The market for 3D imaging in North America has benefitted from the early availability of most product innovations and technological advancements observed in 3D imaging in the past few years. The high level of receptiveness for effective 3D imaging technologies in the industrial, entertainment, and consumer electronics sectors have also enabled North America acquire the top spot in the global 3D imaging market. The region is also home to some of the leading vendors in the market, including Microsoft Corporation, Hewlett-Packard Corporation, Google Inc., Toshiba America Medical Systems, Hitachi Aloka Medical America,Inc., and Lockheed Martin Corporation.

These factors have collectively positioned North America as one of the most promising regions in terms of research and development as well as consumption of technologically advanced 3D imaging solutions. The region accounted for a dominant share of 38.72% in the overall revenues of the global market in 2014.

Nevertheless, the markets for 3D imaging in Europe and Asia Pacific are expected to emerge as tough contenders to the North America 3D imaging market over the period between 2015 and 2021. Europe, being a major producer of automobiles, defense machineries, industrial automation equipment, and healthcare equipment, will account for a 32.19% share in the global market’s revenues by 2021. This will be a slight reduction in the region’s share in the global market in 2014, which was pegged at 33.03% of the overall revenues.

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Asia Pacific will emerge as the most lucrative regional territory for 3D imaging technology, rising at the fastest pace of 27.8% CAGR among key regional markets. The growth in the region will be driven by the rising demand for 3D imaging-enabled consumer electronic equipment, improving healthcare infrastructure, and the rising adoption of industry automation in the industrial sector.