Global Diagnostic Imaging Market is valued approximately at USD 31.3 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2019-2026.
Diagnostic Imaging is a technique which is used to conduct an extensive range of non-invasive imaging tests for monitoring and diagnosing injuries or diseases by the way of generating images that represent internal organs and structures in the patient’s body. Healthcare practitioners are widely using this imaging technology to examine patients and make a diagnosis of their exact medical conditions. Rising demand for early disease diagnosis and expanding scope of clinical applications, increasing investments and funding by public-private organizations, constantly growing geriatric population and the subsequent increase in the prevalence of associated diseases such as cancer and gastrointestinal issues are the few factor responsible for high CAGR of the market over the forecast period.
For instance, In 2018, it was estimated that there were 17.0 million new cancer cases and 9.5 million cancer deaths worldwide. The global burden of cancer is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040 due to the growth and aging of the population, according to the International Agency for Research on Cancer (IARC). Thus, rising prevalence of cancer is resulting in surging the demand for diagnostic imaging around the world. Moreover, technological advancements in the diagnostic imaging industry along with increasing adoption of teleradiology are the major factor likely to offer lucrative growth opportunity to the market in the upcoming years. However, high cost of diagnostic imaging systems, shortage of helium availability and technological limitations associated with standalone systems are few factor anticipated to restraining the growth of global Diagnostic Imaging market during the forecast period.
The regional analysis of global Diagnostic Imaging Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising number of diagnostic centers, growing awareness about preventive care, rising prevalence of cancer & cardiac diseases and technological advancement in imaging technology in the region, which create demand for Diagnostic Imaging. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing prevalence of chronic disorders, expanding healthcare infrastructure, escalating investments in diagnostic imaging and enhancing reimbursement scenario that would create lucrative growth opportunities for the Diagnostic Imaging market across Asia-Pacific region.
Major market player included in this report are:
- GE Healthcare
- Koninklijke Philips N.V.
- Hologic, Inc.
- Siemens Healthcare GmbH
- Fujifilm Holdings Corporation
- Shimadzu Corporation
- Carestream Health, Inc.,
- Hitachi, Ltd.
- Canon Inc.
- Samsung Electronics Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- MRI Systems
- Ultrasound Imaging Systems
- CT Scanners
- Nuclear Imaging Systems
- X-Ray Imaging Systems
- Orthopaedics and Musculoskeletal
- Neurology and Spine
- General Imaging
- Diagnostic Center
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017
- Base year – 2018
- Forecast period – 2019 to 2026
Target Audience of the Global Diagnostic Imaging Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers