Diagnostic Imaging Market Size to Expand at 6.2% CAGR by 2023
Research Reports
Dec 29, 2020
Diagnostic Imaging Market Analysis
The diagnostic imaging market is projected to grow at a 6.2% CAGR between 2018-2023, reveals the new Market Research Future (MRFR) report. Diagnostic imaging includes different non-invasive methods used to identify and monitor injuries or diseases through the generation of images that represent the organs of the body and internal anatomic structure. It has wide applications in neurology, gastroenterology, cardiology, orthopedics, oncology, gynecology, and others.
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Numerous factors are adding to the global diagnostic imaging market share. Such factors, as revealed by the recent MRFR report, include technological advances in these devices, rapidly aging population, growing prevalence of chronic diseases, & increasing awareness for early diagnosis of clinical disorders. Additional factors adding market growth include increasing healthcare spending and increasing investments, grants, and funds by public-private organizations.
On the contrary, unfavorable reimbursement scenario, the high price of imaging modalities, and the shortage of helium are factors that may limit the global diagnostic imaging market growth over the forecast period.
Diagnostic Imaging Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global diagnostic imaging market based on application, source, and product.
By product, the global diagnostic imaging market is segmented into scanners, computed tomography (CT), magnetic resonance imaging (MRI), nuclear imaging systems, ultrasound imaging systems, x-ray equipment, and others. Of these, MRI will lead the market over the forecast period for technological advances, increasing adoption by diagnostic centers and hospitals worldwide, and increasing demand for early as well as accurate diagnosis.
By application, the global diagnostic imaging market is segmented into neurology, gastroenterology, cardiology, orthopedics, oncology, gynecology, and others. Of these, neurology will dominate the market over the forecast period.
By end user, the global diagnostic imaging market is segmented into research institutes, diagnostic centers, hospitals & clinics, and others. Of these, hospitals and clinics will have a major share in the market over the forecast period. Factors adding to the growth of this segment include the rising adoption of latest imaging modalities, the use of minimally invasive procedures in hospitals, rising inclination towards digitalization and automation, and an increase in diagnostic imaging procedures carried out in hospitals.
Diagnostic Imaging Market Regional Analysis
By region, the global diagnostic imaging market covers the growth opportunities and recent trends across Europe, the Americas, the Middle East & Africa (MEA), and the Asia Pacific (APAC). Of these, the Americas will have the lions share in the market over the forecast period. Factors adding to the global diagnostic imaging market growth in the region include the presence of a well-established healthcare system, increasing incidence of cancer, rising geriatric population, and rising prevalence of chronic diseases.
The global diagnostic imaging market in Europe is predicted to hold the second-largest share in the market over the forecast period. Factors adding to the global diagnostic imaging market growth in the region include increasing healthcare expenditure, rising medical & diagnostic centers, favorable regulatory policies, and government support.
The global diagnostic imaging market in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors adding to the global diagnostic imaging market growth in the region include a rise in disposable income, increasing investment in healthcare, rising prevalence of chronic diseases, and increasing population.
The global diagnostic imaging market in the MEA will have a small share during the forecast period.
Diagnostic Imaging Market Key Players
Leading players profiled in the global diagnostic imaging market report include Hologic Inc., Hitachi Medical Systems, FUJIFILM Holdings Corporation, Toshiba Medical Systems Corporation, GE Healthcare, Esoate SpA, Carestream Health, Shimadzu Corporation, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V., and Siemens Healthcare Private Limited.
Diagnostic Imaging Industry News
March 2020: Fluiddda, a leading functional respiratory imaging company, has received the US FDA approval for Broncholab, its digital imaging platform. It has been specially designed to assist providers in visualizing factors that can diagnose respiratory disease.
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NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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