Diagnostic Imaging Market worth $33.42bn by 2020

Friday 11 March 2016, Amsterdam

The report, now available on ASDReports, "Diagnostic Imaging Market by Product (X-ray Imaging Systems, CT Scanners (High-end, Mid-end & Low-end Slice CT), MRI Systems, Ultrasound Imaging Systems, Nuclear Imaging Systems), Region (North America, Europe, Asia-Pacific, RoW) - Global Forecast to 2020" , analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

This report studies the global diagnostic imaging market over the forecast period of 2015 to 2020. The market is expected to reach USD 33.42 Billion by 2020, at CAGR of 6.2% from 2015 to 2020.

Based on type of product, the diagnostic imaging market is segmented into X-ray imaging systems, computed tomography (CT) scanners, ultrasound imaging systems, magnetic resonance imaging (MRI), and nuclear imaging systems. Each modality is further divided into subsegments. The X-ray and ultrasound systems market is divided on the basis of technology and portability; whereas, CT systems are divided on the type of slice. MRI systems are divided on the basis of type of architecture and field strength. The nuclear imaging systems market is categorized into SPECT and PET systems, which are further divided into standalone and hybrid modalities.

A number of factors such as rising prevalence/incidence of cancer and cardiac, neurological, and musculoskeletal disorders; rise in awareness for early diagnosis; and growing number of diagnostic imaging procedures have increased the demand for imaging systems in healthcare facilities across the globe. Moreover, improving healthcare infrastructure in emerging markets and low-cost, technologically advanced imaging systems with applications in multiple fields are further stimulating the demand for diagnostic imaging, globally.

As of 2015, North America holds the largest share of the global diagnostic imaging market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 7.2% from 2015 to 2020. A number of factors, including increasing incidence of chronic diseases, rising awareness about the benefits of early disease diagnosis, development of new healthcare facilities, growing medical tourism in APAC countries, and increasing government initiatives for the modernization of healthcare infrastructure, are stimulating the growth of the diagnostic imaging market in the Asia-Pacific region.

GE Healthcare (General Electric Company, U.K.), Siemens Healthcare GmBH (Siemens AG, Germany), Koninklijke Philips N.V. (The Netherlands), Toshiba Medical Systems Corporation (Toshiba Corporation, Japan), Hitachi Medical Corporation (Hitachi Ltd., Japan), Carestream Health, Inc. (U.S.), Esaote S.p.A (Italy), Hologic, Inc. (U.S.), Fujifilm Corporation (Japan), Samsung Medison (South Korea), and Shimadzu Corporation (Japan) are the major players in the global diagnostic imaging market.