NEW YORK, April 26, 2018 /PRNewswire/ -- According to a report by Stratistics MRC, the Global Medical Imaging market accounted for $29.8 billion in 2016 and is expected to reach $45.1 billion by 2022. There are several factors contributing to the growth of the market, including technological advances in imaging equipment, increasing medical knowledge, introduction of molecular imaging methods for clinical applications, and extensive adoption of cloud technologies. The report also indicates that the x-ray segment dominated the products market due to being a cost effective diagnostic technique, while the nuclear imaging systems is projected to be the fastest growing segment owing to adoption of minimally & non-invasive interventional medical procedures along with enhanced image quality and direct computerized processing. Imagin Medical Inc. (OTC: IMEXF), Endocyte, Inc. (NASDAQ: ECYT), Hologic, Inc. (NASDAQ: HOLX), Boston Scientific Corporation (NYSE: BSX), Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX)

A major portion of the Medical Imaging market is cancer imaging systems. Data by BIS Research projects that the global cancer imaging systems is expected to reach $11 billion by 2025. According to the research the cancer imaging market focuses on major cancer indications (breast cancer, lung cancer, colorectal cancer and prostate cancer, among others) and various imaging modalities (mammography, MRI and positron emission tomography, among others). Cancer imaging systems are crucial tools for potential early cancer detection and diagnostics. North America is dominating the market in 2016 and is growing at a CAGR of 4.3% during the forecast period.

Imagin Medical Inc. (OTC: IMEXF) also listed on the Canadian Securities Exchange under the Ticker (CSE: IME). Just this morning the company announced breaking news that it, "is providing the following update on the Company's current activities. The recent closing of a Private Placement for approximately $4,000,000 reinforces Imagin's financial runway, enabling the Company to progress through the next critical steps toward product commercialization. Imagin's management team has been strengthened with the recent appointments of a new CFO and Director of Regulatory Affairs who add the essential experience and knowledge base in the medical device industry to drive the Company through several paths concurrently.
To date, five subjects have been evaluated using the i/Blue System. Given that this study is the i/Blue system's initial use in a human bladder, approximately two weeks have been allowed between procedures for the development team to assess performance and to make hardware improvements, such as lenses and filters, as well as software adjustments. More subjects will be scheduled for evaluation, and further updates will be issued. The data and knowledge Imagin is acquiring is essential in refining the images that the company believes will lead to optimal performance.

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